After years of being the only group that didn’t feel the impact of rising grocery prices, middle-income consumers are now starting to feel the pinch. According to a report by data company Numerator, middle-income consumers now account for the majority of those affected by the rising prices. While ruralRead More →
Household wealth in the United States fell for the first time in almost two years during the first quarter of 2022, according to a Federal Reserve report released on Thursday. The value of the country’s household net worth fell to $149.3. trillion, from a record high of $149.8 trillionRead More →
© Reuters. FILE PHOTO: U.S. hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-Won/File Photo The dollar rose to a four-week high against a broad basket of currencies on Friday after data showed that consumer prices in the United States roseRead More →
© Reuters. FILE PHOTO: Japanese Yen and U.S. Dollar notes are seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration//File Photo By Chuck Mikolajczak NEW YORK (Reuters) – The dollar gained against a basket of major currencies on Monday as risk appetite waned from earlier levels, with U.S. stocksRead More →
Americans have good reason to be unhappy with the economy and President Joe Biden. At the State of the Union, he bragged on the strong recovery, but abstract statistics like GDP growth, the unemployment rate and average hourly wages don’t rhyme well with many voters’ personal experiences. Paychecks aren’t keeping upRead More →
© Reuters. FILE PHOTO: Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo By Dhara Ranasinghe LONDON (Reuters) – The dollar steadied above almost two-month lows against its major peers on Wednesday, ahead ofRead More →
AUD/USD advances in the session, despite rising US T- bond yields. The US dollar weakens, weighed on by a slower rise in Q3 GDP. US Initial Jobless Claims rose to 281K, less than the 290K expected, improving for the third consecutive week. The AUD/USD edges higher during the NewRead More →
Bitcoin (BTC) passed $40,000 on June 14 as a consolidation period snapped to unleash a solid breakout. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price breaks out past $40,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining 3% in under an hour, reaching $40,600 on Bitstamp. TheRead More →
© Reuters. FILE PHOTO: FILE PHOTO: Sheets of Lincoln five dollar bill are seen through magnifying glass at Bureau of Engraving and Printing in Washington By Elizabeth Howcroft LONDON (Reuters) – The dollar edged higher on Tuesday, helped by a pick-up in U.S. Treasury yields, while riskier currencies dipped,Read More →
DOW JONES, NIKKEI 225, ASX 200 INDEX OUTLOOK: Dow Jones, S&P 500 and Nasdaq 100 closed +1.46%, +0.60% and -0.33% respectively 10-Year Treasury yield retreated to 1.518% as core inflation came below expectation Reflation trade is back in centerstage after House approval of the massive fiscal stimulus Inflation,Read More →
Bloomberg News/Landov Boston Fed President Eric Rosengren Despite the benign environment, the Federal Reserve is actually in uncharted territory and should be alert to potential risks to the outlook, said Boston Fed President Eric Rosengren on Monday. “Private forecasters and [Federal Open Market Committee] participants anticipate a good outcome forRead More →
The eurozone’s annual rate of inflation rebounded in November after two straight months of decline, but remained well below the European Central Bank’s target. Consumer price figures released Friday were the first of Christine Lagarde’s term as ECB president, and indicated that the central bank’s main goal is well beyondRead More →
Don’t expect the inflation bugaboo to scare away the bond-market bulls. Once the highlight of the economic calendar, U.S. inflation data releases have now been shunted to the sidelines by bond traders who say they are paying more attention to the outlook for the labor market and the broader economy.Read More →
Surging pork prices pushed China’s consumer inflation to a near six-year high in September, complicating Beijing’s effort to stimulate growth but also giving it a strong incentive to buy more agricultural goods from the U.S. The consumer-price index rose 3% in September from a year earlier, according to data releasedRead More →
Bloomberg News/Landov The cost of imports aren’t adding to U.S. inflation The numbers: The cost of goods imported into the U.S. rose in September for the first time in four months, but most of the increase stemmed from higher oil prices. Import-related inflation more broadly was basically nonexistent. The importRead More →
Unemployment in the eurozone declined to 7.4% in September, its lowest level since August, 2008, the EU’s statistics institute Eurostat said Monday. But this good news about the European economy helps underline the predicament the European Central Bank has long struggled with: the persistent low level of inflation. The ECBRead More →
Reuters Britain’s Prime Minister Boris Johnson shops at a bakery during a visit to Doncaster Market, in Doncaster, Britain, September 13, 2019. The British pound came under pressure Wednesday as inflation data grew softer than forecast in August. U.K. consumer prices slowed to 1.7% year-over-year growth in August from 2.1%Read More →
Bloomberg News Federal Reserve Chairman Jerome Powell says central banks are having a hard enough time getting inflation to 2%. Federal Reserve Chairman Jerome Powell on Wednesday rejected advice from some of the world’s most prominent economists and said he would not support moving the central bank’s 2% inflation targetRead More →
The Federal Reserve is charged by Congress to accomplish full employment and stable prices. For economists, these objectives pose a tradeoff, and the Fed targets 2% inflation as a compromise. All this is premised on economic theories rendered obsolete by the globalization of many goods and services markets, capital mobility, and resulting wageRead More →
Bloomberg News/Landov Federal Reserve Gov. Lael Brainard Federal Reserve Gov. Lael Brainard made the case on Thursday that the “new normal” of low interest rates requires the central bank to let inflation run hotter than usual as well as to employ tools like increased capital requirements to check financial marketRead More →
Getty Images Jerome Powell seems to be right, in part, on the transitory factors weighing on inflation. Federal Reserve Chairman Jerome Powell at last week’s press conference contended that recent weakness in inflation was the result of so-called “transitory” factors that will unwind. “I think there’s good reason to thinkRead More →
© Reuters. One Word Grips the Bond Market Before Crucial Inflation Update (Bloomberg) — Bond traders will have one word on their minds as they gear up for the latest readings on inflation: “transitory.” That’s how Federal Reserve Chairman Jerome Powell characterized the factors behind muted price pressures after lastRead More →
Bloomberg News/Landov Monitors display stock market information as pedestrians are reflected in a window at the Nasdaq MarketSite in the Times Square area of New York. The numbers: Consumer spending surged in March while core inflation weakened, government figures show. Spending jumped 0.9% in March after a 0.1% gain inRead More →
Some investors are tentatively bracing for inflation to make a comeback. Prices of Treasury-inflation protected securities have steadily climbed throughout 2019, amid talk that the Federal Reserve could refrain from immediately tightening its leash when inflation overshoots the central bank’s 2% target. Though the year-to-date decline in Treasury yields, includingRead More →
Bloomberg News/Landov The cost of imported goods have declined in the past year, led by a drop in oil prices. The numbers: The cost of imported goods shot up in February by the largest amount in nine months, but the increase stemmed entirely from higher fuel prices. Most import pricesRead More →
