>>Q4 GDP Growth Revised Downward

(Washington, DC)  --  The nation's economy didn't grow at the end of last year by as much as previously thought.  That's according to the Commerce Department which puts fourth quarter GDP growth at two-point-seven percent.  It was originally estimated to be two-point-nine percent.  Consumer spending was the main reason for the lower number.

 

>>Fidelity: 401(k) Savings Tumbled In 2022

(New York, NY)  --  A new report says retirement savers lost about a quarter of their 401(k) savings last year.  Fidelity Investments is the nation's largest provider of 401(k) pension accounts.  A new report from Fidelity says balances at the end of 2022 were down 23 percent from a year earlier.  The average account dropped from 135-thousand-dollars to about 104-thousand.  However, the majority of retirement savers continue to contribute.  The report says the average 401(k) balance rose in the fourth quarter of last year.  

 

>>JPMorgan Chase CEO Blames Fed For Losing Control Of Inflation

(New York, NY)  --  The CEO of one of America's largest investment banks is blaming the Federal Reserve for not keeping inflation in check.  Speaking to CNBC, JPMorgan Chase's Jamie Dimon said "we lost a little bit of control of inflation."  His remarks were made after the Fed revealed more evidence of declining inflation is needed to confirm it was on a good path.  Despite that, Dimon described the American economy right now as strong.

 

>>Home Values Fell By Nearly 5% In Second Half Of 2022

(Seattle, WA)  --  The total value of U.S. homes fell by nearly five-percent in the second half of last year.  That's according to the real estate brokerage site RedFin.  It put the final number at 45-point-three trillion dollars.  Home values were sitting at a record high of 47-point-seven trillion in June of last year before the fall.

 

>>Netflix Cuts Prices In Some Countries To Boost Subscriptions

(Los Gatos, CA)  --  Netflix is cutting subscription prices in some countries in a move to keep subscriptions growing and maintain its lead over other streaming services.  The Wall Street Journal reported the streaming giant announced on Thursday that it's lowering the cost of subscriptions in some countries in Latin America, Asia, the Middle East, and sub-Saharan Africa.  Netflix operates in more than 190 countries and has been looking to add more subscribers in newer international regions as the U.S. and Canadian markets become saturated.  The Journal reports the price cuts also are a response to strained consumer spending.