Author: Money Mechanics

The Federal Reserve held interest rates steady at its April 29 meeting.  Takeaway: Mortgage rates may rise slightly as Jerome Powell’s last Fed meeting as chair ended with some fireworks. The Board signaled an unusual amount of division over the future path of interest rates and, in a historically unprecedented move, Powell announced his decision to stay at the Fed after his chairmanship ends. The current members of the Federal Open Markets Committee (FOMC) sent a wakeup call to anyone expecting lower rates with incoming chair Kevin Warsh. Mortgage rates may rise slightly as a result. While the FOMC held…

Tech companies are racing to build out infrastructure that can further drive the automation boom. Now, Japanese multinational SoftBank reportedly plans to create a new company designed to automate the creation of that infrastructure. SoftBank is putting together a new business called Roze AI, the Financial Times originally reported. Roze would seek to make data center construction in the U.S. more “efficient,” the Wall Street Journal reports. It would do that by — among other things — deploying autonomous robots to help build server farms. In an interesting twist, the conglomerate is already prepping Roze for an IPO, and some…

California’s billionaire tax has sparked an exodus of some of the state’s wealthiest residents, who have relocated their personal and professional assets in a bid to avoid the one-time levy on their fortunes. But for those who remain, there is one loophole in the proposed legislation that could help them to save millions if the tax is brought into effect.According to the California Billionaire Tax Act, anyone with a net worth of $1.1 billion or more who was residing in the Golden State as of Jan. 1, 2026, will be subject to a 5% tax on the total of all…

Find out which banks are offering the best money market account rates right now. As interest rates continue to fall following the Fed’s recent rate cuts, it’s more important than ever to ensure you’re earning a competitive rate on your savings. One option you may want to consider is a money market account (MMA). Wondering where to find the top money market account rates today? Here’s what you need to know. Where to find the best money market account rates today From a historical perspective, money market account interest rates have been quite high. The national average interest rate for…

Key support levels for altcoins are holding, keeping short-term recovery structures intact across major assets. Breakouts above resistance levels could trigger faster moves and stronger upward momentum. Market remains cautious, with consolidation likely until clear directional signals emerge. As April comes to an end, the crypto market is still under pressure from global tensions, rising energy prices, and interest rate concerns. Even so, some parts of the market are starting to look more stable. Major assets like Bitcoin and have handled recent shocks well, which suggests the market is becoming more controlled rather than chaotic. One big shift is how…

Northern Re, the collateralized reinsurance company that provides investors access to returns of its long-tail casualty underwriting business, has announced that it has selected Palantir Technologies as a core platform to support the continued development of its capital intelligence capabilities.According to the announcement, the platform brings underwriting and capital teams onto a shared view of portfolio performance, which helps support clearer decision‑making as programs develop over time. Northern Re’s decision to choose Palantir reportedly builds on work that the company has been doing for a number of years to improve how operational data is used on a day-to-day basis, rather…

(By Oil & Gas 360) – The United Arab Emirates stepping away from OPEC and the broader OPEC+ framework would mark one of the most consequential shifts in oil market governance in decades. For a group that has long relied on cohesion, quota discipline, and the political alignment of its core Gulf members, the loss of a major, technically capable producer changes more than just volumes. It changes incentives, leverage, and the way the market interprets every future decision. The UAE is not a marginal player. It is one of the few countries in the group with meaningful spare capacity,…

The share of Americans who are both married and own a home by age 30 has shrunk from 52% in 1960 to just 12%, according to new data—in a shocking collapse that has the potential to impact the future net worth of these couples, as well as the long-term health of the housing market and U.S. economy.The data, based on an analysis of U.S. Census Bureau records, highlights the dual impact of social shifts and a persistent housing shortage. The most recent analysis from Realtor.com® pegs the national housing deficit at 4.03 million homes, while other estimates from the White…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The writer is director of the African Department at the IMFFor much of the past 30 years, I’ve worked with countries as they’ve dealt with grave economic challenges. More recently, this has been the case for many countries across sub-Saharan Africa, as they have drifted into what I call the “grey zone”: not an outright crisis but burdened by imbalances that leave them dangerously exposed. Now, as I prepare to hang up my boots as director of the IMF’s African Department, I…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The world once quaked at the power of Opec. The 1973 oil embargo on the US by Arab exporters almost quadrupled the crude price. The cartel’s influence has long been waning due to oil’s declining share of the global energy mix and Opec’s declining share of world output thanks to the US shale revolution and rising production in countries such as Canada, Brazil and Guyana. The departure of the United Arab Emirates gives the impression of an organisation now in its twilight.…