U.S. yields jump after CPI surprises to upside in August

By Herbert Lash NEW YORK (Reuters) -U.S. Treasury yields surged and a recession warning – the yield curve inversion – widened on Tuesday after monthly U.S consumer prices unexpectedly rose in August, signaling to the market that the Federal Reserve will crack down further on inflation. The yield on two-year Treasury notes, which typically reflects […]

Stubbornly high rents, food prices boost U.S. inflation in August

By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer prices unexpectedly rose in August and underlying inflation accelerated amid rising costs for rents and healthcare, giving the Federal Reserve ammunition to deliver a third 75 basis points interest rate hike next Wednesday. The surprisingly firm inflation readings reported by the Labor Department on Tuesday were despite […]

Ill. small town mayor upset by bus of migrants sent to city without notice

Migrants, who boarded a bus in Texas, listen to volunteers offering assistance after being dropped off within view of the US Capitol building in Washington, DC, on August 11, 2022. (Photo by STEFANI REYNOLDS/AFP via Getty Images) OAN NewsroomUPDATED 11:08 AM PT – Tuesday, September 13, 2022 The mayor of a small Illinois town is […]

Wall St tumbles to biggest loss in two years following CPI data

By Stephen Culp NEW YORK (Reuters) – A broad sell-off sent U.S. stocks reeling on Tuesday after a hotter-than-expected inflation report dashed hopes that the Federal Reserve could relent and scale back its policy tightening in the coming months. All three major U.S. stock indexes veered sharply lower, snapping four-day winning streaks and notching their […]

US inflation for August shows up 8.3% year-over-year

American flags hang outside of the New York Stock Exchange Tuesday, Feb. 16, 2021. (AP Photo/Frank Franklin II) OAN NewsroomUPDATED 8:06 AM PT – Tuesday, September 13, 2022 The Consumer Price Index report for August is out, showing inflation is up 8.3 percent from a year ago. Economists were expecting 8.1 percent year-over-year. The Labor […]

Starbucks exploring tech to ease high U.S. demand, worker stress

By Hilary Russ SEATTLE (Reuters) – Starbucks is introducing technology to speed up production of its increasingly popular cold beverages and send digital orders away from busy locations, the company said on Tuesday as it seeks to prevent U.S. cafes from being overwhelmed by orders and improve working conditions for employees. A surge in digital […]

Election day begins in R.I., N.H., Del.

People vote at the Greenspring Retirement center during the mid-term election day in Fairfax, Virginia on November 6, 2018. (Photo by ANDREW CABALLERO-REYNOLDS / AFP) (Photo credit should read ANDREW CABALLERO-REYNOLDS/AFP via Getty Images) OAN NewsroomUPDATED 12:45 PM PT – Tuesday, September 13, 2022 Tuesday’s elections are the last primaries for this midterm cycle. In […]

Analysis-Wall St outlook darkens as grim inflation report tees up more Fed hawkishness

By Lewis Krauskopf and David Randall NEW YORK (Reuters) – An already-murky outlook for U.S. stocks and bonds is growing darker, as sizzling inflation ratchets up expectations for how aggressively the Federal Reserve will need to raise rates. For weeks, investors had debated whether the full extent of Fed hawkishness had been priced into markets, […]

Cringe Optics: Biden Takes Victory Lap During Economic Nosedive

Chanel Rion — OAN Chief White House CorrespondentUPDATED 10:27 AM PT – Tuesday, September 13, 2022 An optically difficult day for the White House – as the economy tanks at news of roaring inflation and a higher than expected CPI rate, Biden staffers assembled the President for a photo op taking the bow for his inflation reduction efforts. The White House […]