The Monday Mix: Sept. 19 – 25, 2022

Top-of-mind economic news as we start the week:

The Federal Reserve raised its key interest rate by another 3/4ths of a percent, to range of 3% – 3.25%, with more hikes expected.

Sales of existing U.S. homes fell in August for the 7th straight month, and are down nearly 20% over the past 12 months, but the median sales price is up 7% vs. a year ago.

Housing starts rose 12.2% in August, but building permits fell 10%, indicating that homes are being built now, but future building is likely to fall significantly.

The British pound approached parity with the U.S. dollar, levels not seen since 1985, on higher U.S. interest rates and concern about British fiscal policy.

A global shortage of copper in the coming years could hamper the manufacture of electric vehicles, experts in commodities and real assets are warning.

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