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Sen. Pat Toomey, R-Pa., introduced legislation Wednesday that would eliminate more than half of the regional Federal Reserve banks and subject the remaining banks to additional federal rules and restrictions. The bill, titled the Federal Reserve Accountability Act, would reduce the number of regional Federal Reserve banks from 12 to five; require bank presidents to
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Home sales tumbled for the 1oth straight month in November, according to the National Association of Realtors. All four major U.S. regions recorded month-over-month and year-over-year declines. Home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – waned 7.7% from October to a seasonally adjusted annual rate of 4.09 million in
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The American Institute of Architects’ fourth quarter Home Design Trends Survey of its members reflects the need for affordable housing, resilient communities and sustainability. “The latest results—focusing on neighborhood design—found that popularity for higher-density development and mixed-use facilities continued to flourish in 2022, even with new construction slowing in all housing sectors,” the report summarizes.
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Municipals were weaker by a basis point or two Monday, while U.S. Treasuries saw larger losses across the curve and equities ended down following continued central bank assertions on raising rates. “U.S. stocks were unable to hold onto gains as recession worries run wild and as global bond yields surge higher after former Fed’s Dudley
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