Welcome to the Traderverse Weekly Newsletter! We are thrilled to welcome you to our trading community!
Each week, we provide you with the most up-to-date stock, crypto, & real estate information and charts, so you can stay informed and optimize your trading decisions. Thank you for joining us!
The new White House wage data released by the Council of Economic Advisers (CEA) suggests that the pressure on supercore inflation is decreasing. This data showed that average hourly wages of private-sector employees have increased at the slowest rate since the start of 2021.The slowdown in wage growth could give the Federal Reserve some breathing room while they evaluate the inflationary pressures. The slower wage growth implies that the inflationary pressures may not be as intense as anticipated, giving the Fed the chance to maintain low-interest rates for a longer period without risking an inflation surge.
The prevalence of ‘ChatGPT clones’ in China is rapidly increasing and could have potential implications for the labor market and wider society. These AI chatbots are designed to simulate the conversation and behavior of humans when responding to inquiries or requests. Companies are increasingly using them to answer customer service queries and even generate content, which could lead to the displacement of human workers. The implications of this technology must be carefully considered in order to ensure the safety and sustainability of the labor market and wider society.
The average rate on the 30-year fixed rate mortgage has risen slightly from 6.09% to 6.12%. Although this increase is only small week over week, the rate on a 30-year mortgage is up over 65% from February 2022. The outlook on the housing market for the rest of the year remains uncertain, as the full economic effects of the pandemic are yet to be uncovered and the Federal Reserve attempts to gain control of inflationary pressures.