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Extreme weather, fueled by climate change, cost the U.S. $165 billion in 2022.
January 10, 2022--A town-flattening hurricane in Florida. Catastrophic flooding in eastern Kentucky. Crippling heatwaves in the Northeast and West. A historic megadrought. The United States endured 18 separate disasters in 2022 whose damages exceeded $1 billion, with the total coming to $165 billion, according to a new report from the National Oceanic and Atmospheric Administration (NOAA).
The annual report from the nation's premier meteorological institution highlights a troubling trend: Extreme weather events, fueled by human-caused climate change, are occurring at a higher frequency with an increased cost-in dollars and lives.
CBO-Monthly Budget Review: December 2022
January 10, 2022--Summary
The federal budget deficit was $418 billion in the first quarter of fiscal year 2023, the Congressional Budget Office estimates-$41 billion more than the shortfall recorded during the same period last year. Revenues were $26 billion (or 2 percent) lower and outlays were $15 billion (or 1 percent) higher from October through December 2022 than they were in the first quarter of the prior fiscal year.
Outlays in fiscal year 2023 were reduced by the shifting of certain payments-totaling $63 billion-from October 1, 2022 (the first day of fiscal year 2023), into fiscal year 2022 because October 1 fell on a weekend.
In addition, as was the case in fiscal year 2022, outlays increased in the first quarter of this fiscal year (through December 2022) because certain payments that otherwise would have been due on January 1, a holiday, were instead made in December. If those various shifts had not occurred, the first-quarter deficit in fiscal year 2023 would have been $455 billion, or $102 billion more than the first-quarter deficit of $353 billion in fiscal year 2022, an increase of 29 percent.
EA Series Trust files with the SEC-Strive Emerging Markets Ex-China ETF
January 9, 2023--EA Series Trust has filed a post-effective amendment, registration statement with the SEC for the Strive Emerging Markets Ex-China ETF.
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Engine No. 1 ETF Trust files with the SEC-Engine No. 1 Transform Scarcity ETF
January 6, 2023-Engine No. 1 ETF Trust has filed a Post-Effective Amendment, Registration Statement with the SEC for the Engine No. 1 Transform Scarcity ETF.
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Kathleen Moriarty, aka 'Spider Woman,' Helped Launch Exchange-Traded Funds
January 6, 2023--Securities lawyer, who has died at age 69, worked on pioneering SPDR S&P 500 fund
As a securities lawyer, Kathleen H. Moriarty was known for her ability to persuade staff members at the Securities and Exchange Commission that they could live with strange new types of investments.
Her greatest triumph was exchange-traded funds, or ETFs, a type of asset that regulators pondered for years before approving. In 1993, she helped launch the hugely successful SPDR S&P 500 ETF.
EA Series Trust files with the SEC-Bridges Capital Tactical Equity ETF
January 6, 2023-EA Series Trust has filed a Post-Effective Amendment, Registration Statement with the SEC for the Bridges Capital Tactical Equity ETF.
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IMF Working Paper-The Pricing-Out Phenomenon in the U.S. Housing Market
January 6, 2023--Summary:
The COVID-19 pandemic further extended the multi-year housing boom in advanced economies and emerging markets alike against massive monetary easing during the pandemic. In this paper, we analyze the pricing-out phenomenon in the U.S. residential housing market due to higher house prices associated with monetary easing.
We first set up a stylized general equilibrium model and show that although monetary easing decreases the mortgage payment burden, it would raise house prices, lower housing affordability for first-time homebuyers, and increase housing wealth inequality between first-time and repeat homebuyers.
We then use the U.S. household-level data to quantify the effect of the house price change on housing affordability relative to that of the interest rate change. We find evidence of the pricing-out effect for all homebuyers; moreover, we find that the pricing-out effect is stronger for first-time homebuyers than for repeat homebuyers. The paper highlights the importance of accounting for general equilibrium effects and distributional implications of monetary policy while assessing housing affordability. It also calls for complementing monetary easing with well-targeted policy measures that can boost housing affordability, particularly for first-time and lower-income households. Such measures are also needed during aggressive monetary tightening, given that the fall in house prices may be insufficient or too slow to fully offset the immediate adverse impact of higher rates on housing affordability.
Two Roads Shared Trust files with the SEC-Hypatia Women CEO ETF
January 6, 2023--Two Roads Shared Trust has filed a Form 497K-Summary Prospectus with the SEC for the Hypatia Women CEO ETF.
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Two Roads Shared Trust files with the SEC-Hypatia Women CEO ETF
January 6, 2023--Two Roads Shared Trust has filed a Form 497K-Summary Prospectus with the SEC for the Hypatia Women CEO ETF.
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WisdomTree Trust files with the SEC-WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund
January 5, 2023--WisdomTree Trust has filed a Form 497K-Summary Prospectus with the SEC for the WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund.
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WisdomTree Trust files with the SEC-WisdomTree Chinese Yuan Strategy Fund
January 5, 2023--WisdomTree Trust has filed a Form 497K-Summary Prospectus with the SEC for the WisdomTree Chinese Yuan Strategy Fund.
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WisdomTree Trust files with the SEC-WisdomTree Enhanced Commodity Strategy Fund
January 5, 2023--WisdomTree Trust has filed a Form 497K-Summary Prospectus with the SEC for the WisdomTree Enhanced Commodity Strategy Fund.
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WisdomTree Trust files with the SEC-WisdomTree Interest Rate Hedged High Yield Bond Fund
January 5, 2023--WisdomTree Trust has filed a Form 497K-Summary Prospectus with the SEC for the WisdomTree Interest Rate Hedged High Yield Bond Fund.
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WisdomTree Trust files with the SEC-WisdomTree Floating Rate Treasury Fund
January 5, 2023--WisdomTree Trust has filed a Form 497K-Summary Prospectus with the SEC for the WisdomTree Floating Rate Treasury Fund.
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Touchstone ETF Trust files with the SEC-Touchstone Climate Transition ETF
January 5, 20233--Touchstone ETF Trust has filed a Post-Effective Amendment, Registration Statement with the SEC for the Touchstone Climate Transition ETF.
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