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Asian stocks lower after Fed confirms rate hike plans

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By JOE McDONALD

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I’m not ‘uneasy’ as saving accounts to which I have access are edging up to 3%.

The days when prudent savers are rewarded are returning.

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This just in. The U.S. economy contracted an annualized 1.5% QoQ in the first three months of 2022, slightly worse than initial estimates of a 1.4% decline and 1.3% decline consensus.

Also, U.S. corporate profits fell 4.3 percent to $2.42 trillion in the first quarter of 2022, from a forcast increase of 0.5% record, and $2.53 trillion reached in the previous period. Net cash flow with inventory valuation adjustment, the internal funds available to corporations for investment, fell 1.6 percent to $3.18 trillion, while net dividends rose 0.5 percent to $1.47 trillion.

Next major releases within the next four days will be U.S. personal income and spending, and Japanese consumer confidence, unemployment, and retail sales.

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Believe it when I see it. They can maybe get to 2.5% (which is still ridiculously low in the face of 8% inflation) before both the markets and the economy in the US implode...... Then back to cutting.

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