Fed Likely to Want Further Evidence of Inflation Slowdown

Fed Likely to Want Further Evidence of Inflation Slowdown

A slowdown in inflation last month, following recent indications of a robust labor market, complicates the Federal Reserve’s decision on how much to raise interest rates next month. Data on inflation and economic activity are likely to guide whether central bank officials lift their benchmark federal-funds rate by a half-percentage point or three-quarters of a … Read more

Larry Summers: ‘Very Serious Inflation Problem’ In US Not Likely ‘To Go Away Of Its Own Volition’ – MSNBC

Larry Summers: ‘Very Serious Inflation Problem’ In US Not Likely ‘To Go Away Of Its Own Volition’ – MSNBC

Larry Summers: ‘Very Serious Inflation Problem’ In US Not Likely ‘To Go Away Of Its Own Volition’MSNBC Strong jobs report has Larry Summers ‘more worried’ about inflationNew York Post View Full Coverage on Google News

How Detroit Escaped Its Legendary Bankruptcy – CNBC

How Detroit Escaped Its Legendary Bankruptcy – CNBC

How Detroit Escaped Its Legendary BankruptcyCNBC How Detroit moved on from its legendary bankruptcyCNBC The rise, fall and future of DetroitCNBC View Full Coverage on Google News

AP FACT CHECK: GOP skews budget bill’s impact on IRS, taxes

AP FACT CHECK: GOP skews budget bill’s impact on IRS, taxes

Republican politicians and candidates are distorting how a major economic bill passed over the weekend by the Senate would reform the IRS and affect taxes for the middle class. The “Inflation Reduction Act,” which awaits a House vote after passing in the Senate on Sunday, would increase the ranks of the IRS, but it would … Read more

Inflation: What July’s CPI data means for the Fed – Yahoo Finance

Inflation: What July’s CPI data means for the Fed – Yahoo Finance

Inflation: What July’s CPI data means for the FedYahoo Finance US inflation slows from a 40-year peak but remains highThe Associated Press – en Español Inflation still sucks, but we’ll take whatever relief we can getCNN US Inflation Cools More Than Forecast as Gasoline Price DropsBloomberg Markets and Finance View Full Coverage on Google News

How to save on groceries amid food price inflation

To feel the effects of inflation, just go to the supermarket. Although inflation, overall, began to ease last month along with gas prices, food costs climbed 1.1% in July, bringing the year-over-year gain to 10.9%, according to the latest Consumer Price Index figures. The food-at-home index, a measure of price changes at the grocery store, … Read more

Treasury yields in focus as investors assess inflation data

Longer-term US Treasury yields were little changed on Wednesday, as investors awaited highly anticipated inflation figures which could influence the pace of Federal Reserve interest rate hikes. The yield on the benchmark 10-year Treasury note ticked up less than 1 basis point to 2.801% while the yield on the 30-year Treasury bond was marginally higher … Read more

Britain’s cost-of-living crisis worsens as rents and energy bills soar

The Bank of England warned last week that the UK will enter recession later this year. The expected recession is forecast to be the longest since the global financial crisis. Vuk Valcic | SOPA Images | LightRocket | Getty Images A skyrocketing energy price cap and eyewatering rental prices are just two factors contributing to … Read more

Energy bills forecast to top £4200 in January – Channel 4 News

Energy bills forecast to top £4200 in JanuaryChannel 4 News Households already in debt as energy bills riseBBC Energy bills set to rise even higher this Winter | 5 News5 News Why are British household energy bills so high?Financial Times Here’s how the UK Government could scrap the energy price cap rise (if they wanted … Read more

The market’s big winners and losers in climate, health and tax bill

US Senate Majority Leader Chuck Schumer (D-NY) walks outside the US Capitol in Washington, US August 2, 2022. Jonathan Ernst | Reuters Want to know what the Inflation Reduction Act means for the market’s biggest companies, as well as for your wallet? When it comes to politics, you always have to follow the money – … Read more