The week was filled with stories that kept the business world buzzing. From Elon Musk’s controversial involvement in German politics to the surge in natural gas prices due to freezing US temperatures, there was no shortage of news. Let’s dive into the key stories that shaped the weekend.
Elon Musk Accused of Meddling in German Elections
Tesla Inc. CEO Musk has been accused by the German government of attempting to influence the upcoming federal elections. Musk’s endorsements of the far-right party, Alternative für Deutschland (AfD), have been deemed “intrusive and presumptuous” by Friedrich Merz, leader of Germany's largest opposition party.
US Freeze Drives Natural Gas Prices Up
An arctic blast across the US has led to a surge in heating demand, resulting in volatile conditions in energy markets. Natural gas futures saw a significant bounce back, with February contracts climbing by over 2%. The National Weather Center (NWC) predicts continued heavy coastal rains and higher-elevation snow for much of the northwestern U.S.
Mortgage Rates Hit Six-Month High
The new year has brought little relief for prospective US homebuyers as mortgage rates have soared to their highest level in six months. The average interest rate on 30-year fixed-rate mortgages climbed to 6.97% in the week ending Dec. 27, 2024, marking the steepest rates since early July.
El-Erian Highlights Economic Disparity in the US
Influential economist Mohamed El-Erian pointed out the stark contrast between US "economic exceptionalism" and the struggles of lower-income households in what he calls a "K economy." El-Erian highlighted the growing economic disparity in the United States, noting the significant and increasing challenges faced by lower-income households.
El-Erian Cautions Federal Reserve Against Overly Restrictive Policies
El-Erian has raised concerns over the Federal Reserve's potential policy direction for 2025. El-Erian emphasized the importance of the Fed avoiding an overly restrictive stance in the coming year, cautioning that excessively stringent monetary policies could jeopardize the US economy’s resilience.
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This story was generated using Benzinga Neuro and edited by Anan Ashraf.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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