US food inflation is becoming Biden’s major hot potato
Inflation rose to 3.5% in March, but the unexpected rise continued to weigh on Americans’ wallets and President Biden’s approval ratings. Despite repeated promises that inflation is “temporary,” inflation has remained high throughout the president’s term, and the president has called for “Bidenomics” as people suffer from high costs, especially at restaurants and grocery stores. […]
These are the US cities with the highest inflation
The Morning with Maria panel examines March core CPI, expected Fed rate cuts, and the overall market outlook. Rising inflation continues to reduce Americans’ purchasing power across the country, but rising prices are impacting some regions more than others. U.S. prices rose 3.5% in March from a year earlier, marking the third consecutive month of […]
Mortgage rates hit highest level since November after hot inflation report
Mortgage rates rose to their highest since November as the much-anticipated rate cut schedule was extended until 2024. The average 30-year fixed mortgage rate on Wednesday reached 7.29%, the highest since November. daily mortgage news. The jump followed the release of new consumer price index inflation data for March, which came out slightly better than […]
Fed officials worried inflation progress is stalling, meeting minutes show
Inflation is falling, but food is still expensive to buy. According to the Bureau of Labor Statistics, food prices have risen 21% over the past three years, outpacing the overall inflation rate of 18% over the same period. Fed officials expressed concern at their March policy meeting that price pressures in the economy were rising […]
Biden says inflation report ‘may delay’ expected interest rate cut
President Biden said Wednesday that a March report showing inflation trending upward could delay expected rate cuts by the Federal Reserve. Biden last month predicted the Federal Reserve would cut interest rates, a move that could provide a boost heading into the November election as the president works to improve the economy and fight inflation. […]
March inflation breakdown: Where are prices rising the fastest?
The “Morning with Maria” panel discusses the U.S. economy and markets after January’s CPI of 3.1% year-over-year. Inflation rose faster than expected in March as rising rent and gas prices kept prices painfully high for millions of Americans. The Labor Department said Wednesday that the Consumer Price Index (CPI), which measures the price of daily […]
Fed officials already worrying about worsening inflation
Some Fed policymakers argued that inflation likely worsened at its most recent meeting in March, even before the government reported Wednesday that price increases had reaccelerated last month. Minutes of the March 19-20 Fed board meeting released Wednesday showed that all 19 Fed officials agreed that high inflation in January and February meant that inflation […]
MSNBC cuts off Democratic Rep. Jim Clyburn interview after he claims inflation falling
Democratic Rep. Jim Clyburn insisted on MSNBC that the Biden administration had inflation under control, but the broadcast was interrupted by news that prices had risen more than expected last month. The 83-year-old congressman from South Carolina was in the midst of bashing social media for spreading “disinformation” about inflation, but he also said “breaking […]
Stocks sink after hot March inflation data
The Morning with Maria panel examines March core CPI, expected Fed rate cuts, and the overall market outlook. U.S. stocks fell across the board as better-than-expected inflation data dampened hopes for a June interest rate cut by the U.S. Federal Reserve. ticker safety last change change % Me: DJI Dow Jones Average 38380.61 -503.06 -1.29% […]
Inflation Pushing Up Rents, Garbage Collection, Electricity
Americans looking for shelter from inflation are unlikely to find shelter at home. Inflation under the Biden administration is making it more expensive to maintain a household. Rent, utilities and garbage collection fees all increased by nearly 6%. Rent and associated shelter costs are jumped off From March 2023 onwards, 5% or more: — Rent […]