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【CNBC】Fed Governor Bowman casts doubt on the need for a U.S. digital dollar

  • Federal Reserve Governor Michelle Bowman expressed skepticism over the possibility of a digital U.S. dollar in a speech Tuesday.
  • Bowman noted “the risk that a [central bank digital currency] would provide not only a window into, but potentially an impediment to, the freedom Americans enjoy in choosing how money and resources are used and invested.”
  • A study released in 2022 on a Federal Reserve digital currency detailed the various pros and cons but didn’t take a stance.

【CNBC】Veteran investor David Roche says a credit crunch is coming for ‘small-town America’

  • The collapse of Silicon Valley Bank and two other small U.S. lenders last month triggered contagion fears that led to record outflows of deposits from smaller banks.
  • Earnings reports last week indicated that billions of dollars of deposit outflows from small and mid-sized regional lenders, executed amid the panic, were redirected to Wall Street giants.

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【NAR】Middle-income Homeowners Gained More Than $120,000 in Wealth Over the Past Decade From Home Appreciation, According to NAR

  • Low-income homeowners built $98,900 and upper-income households built $150,800 from home appreciation since 2012.
  • Black homeowners experienced the smallest wealth gains among all racial/ethnic groups but were able to accumulate more than $115,000 in wealth in the last decade.
  • Homeowners who benefited from home price appreciation in the last decade were able to drop their debt by 21%.

【NAR】Existing-Home Sales Slid 2.4% in March

  • Existing-home sales retreated 2.4% in March to a seasonally adjusted annual rate of 4.44 million. Sales declined 22.0% from one year ago.
  • The median existing-home sales price dipped 0.9% from the previous year to $375,700.
  • The inventory of unsold existing homes rose 1.0% from the prior month to 980,000 at the end of March, or the equivalent of 2.6 months' supply at the current monthly sales pace.

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