Democrats cheer after Supreme Court rejects challenge to consumer bureau
Democrats and financial industry commentators celebrated Wednesday after the Supreme Court rejected a challenge to the Consumer Financial Protection Bureau’s (CFPB) funding structure. “The Supreme Court of the United States is following the law, and the CFPB is here to stay,” Sen. Elizabeth Warren (D-Mass.) said from the steps of the Supreme Court. Warren was […]
Dow Jones, S&P and Nasdaq close at record highs after consumer price index shows inflation slowing down
Each of the major U.S. stock indexes closed at record highs Wednesday after new federal data showed inflation slowing. The Dow Jones Industrial Average, S&P 500 fell after the Labor Department reported that inflation fell to an annual rate of 3.4% in April after a 0.3% monthly price increase, according to the Consumer Price Index […]
Consumer Prices Up 3.4% Through April, In Line With Estimates
The consumer price index in April increased by 0.3% from the previous month. According to the Department of Labor, prices have increased by 3.4% compared to 12 months ago. Economists had expected sales to rise 0.3% month-on-month and 3.4% over the 12 months. The Ministry of Labor announced last month that the consumer price index […]
Japan stocks lead gains in Asia after upbeat consumer spending data, U.S. rate cut hopes lift sentiment – CNBC
26 minutes ago Nippon Watch records current account surplus in 2023/24 According to Reuters, Japan recorded its largest-ever current account surplus worth 25.3 trillion yen ($162.9 billion) in the fiscal year ending March 2024. The current account surplus in March was 3.4 trillion yen. Current account measurements are important indicators of international trade. —Shreyashi Sanyal, […]
President Joe Biden looks to boost worker, consumer power as election looms
The Biden administration has rolled out new rules over the past week aimed at empowering workers and consumers as the president seeks to address bleak economic conditions ahead of what is expected to be a close election. They have been announced one after another. Last Tuesday, the Federal Trade Commission (FTC) passed a resolution banning […]
Consumer Confidence Unexpectedly Slumps To Lowest Level In Nearly Two Years
Consumer confidence has declined over the past three months, even as the Biden administration tries to convince Americans that the economy is improving. The Conference Board’s Consumer Confidence Index fell to 97 in April from 103.1 in March, according to data released Tuesday. This is the third consecutive month of decline and the lowest figure […]
Consumer Inflation Expectations Unexpectedly Climb
Inflation expectations by U.S. households rose in April, the latest sign that the Fed’s progress in curbing inflation is stalling. Expected inflation over the next year was 3.2% in April, up from 2.9% the previous month, according to a consumer sentiment survey released Friday by the University of Michigan. The long-term expected inflation rate rose […]
Currency crisis pushes consumer groups from Nigeria – Financial Times
Many consumer groups on the front lines of the global cost of living crisis are assuring shoppers that the relentless price increases of the past few years will gradually slow as global inflation slows. But for Nigerian consumers, there is little relief in sight. Heineken-backed Nigerian Breweries has raised prices three times so far this […]
US consumer sentiment falls more than expected as inflation fears rise
MacroMavens President Stephanie Pomboy discusses the economy, the impact of inflation on consumers, and her expectations for fourth quarter GDP. U.S. consumer sentiment and Americans’ economic outlook both fell more than expected in April as inflation expectations rose. The University of Michigan Consumer Confidence Index released Friday was 77.9, down from 79.4 in March. Economists’ […]
Bidenflation’s Resurgence Sends Consumer Sentiment Tumbling
A major survey of U.S. households on Friday showed a resurgence in inflation is starting to weigh on perceptions of the health of the U.S. economy. The University of Michigan’s Consumer Sentiment Index fell from 79.4 in March to a preliminary rating of 77.9 in April. Economists had expected the index to remain unchanged at […]