Friday's jobs report showing that the U.S. added more than 250,ooo new jobs rather than a expected decrease triggered positive reactions from three Triangle economists, although one - Dr. Anne York of Meredith College - still has concerns.
Back in March, I outlined why I expected these rate hikes were eventually going to cause something to break. The recent collapse of Silicon Valley Bank (SVB), Signature Bank, and First Republic – as well as the takeover of Credit Suisse – indicates this has indeed come to pass. Even if the Fed is done hiking rates (as it hinted it might be), and even if it cuts them quickly (as some market participants forecast), we will be feeling the negative economic consequences for a while. Let's take a look.
Reading between the lines of the latest Federal Reserve's decision to raise interest rates again on Wednesday, three Triangle economists say a pause in further hikes appears on the horizon. But only the Fed knows for sure.
The owner of Ace Auto Recycling filed a lawsuit against Nassau County and its top law enforcement officials, claiming investigators seized more than $7.5 million in assets without ever charging him with a crime.