Top-of-mind economic headlines as we start the week:
— US existing home sales in Dec. were down 34% from 12 months prior, hitting the lowest annual pace since 2010.
— The Federal Reserve is expected to raise its key rate by 25 basis points at Feb. 1 meeting; rate would then be 4.5% – 4.75% range
— Tech industry layoffs accelerated at the start of 2023, but not likely to have major impact on job market.
— The European Central Bank said it will “stay the course” in rising interest rates, despite European inflation slowing.
— New York will require large greenhouse gas emitters to pay more than $1 billion annually, per the state’s new “Cap-and-Invest” program.
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