Powell says Fed won’t rush to cut interest rates until inflation is conquered
Crossmark CEO and CIO Bob Dall shares his thoughts on consumer behavior, the threat from China, and expectations for Jay Powell’s upcoming message to Congress. federal reserve Chairman Jerome Powell He said Wednesday that policymakers expect to cut rates in 2024, but are not prepared to do so until they are confident inflation is under […]
Pent Up Exuberance Could Unleash Inflation
Growth blooms in the US economy The American economy is blooming with new economic spring blossoms. S&P Global Sages report on that tuesday All seven sectors of the US economy recorded increases. Corporate activity in February increased from four in January. This is the first time since April 2022 that all seven sectors have risen […]
Messaging About Democracy Is for Those with ‘Privilege’ to Not Worry About Inflation
On CNN’s “The Source” broadcast on Monday, CNN senior political commentator and former Obama aide David Axelrod said he thinks President Joe Biden is doing a good job as president and that he is looking forward to 2024. He said he was concerned about democratic issues in elections. “People who don’t care how much they […]
Atlanta Fed’s Bostic Warns Rate Cut Could Reignite Inflation
Atlanta Fed President Rapahel Bostic said Monday there was a significant risk that the Fed’s interest rate cuts could reignite inflation. in an essay Posted on the Atlanta Fed websiteBostic said the Fed should take a cautious approach to the economy, recognizing that the risk of higher inflation remains and that easing monetary policy could […]
Majority of Voters Say Biden’s Policies Will Make Inflation Worse
Most Americans think Joe Biden’s policies will cause prices to rise, according to a CBS News/YouGov poll of registered voters. As the U.S. economy marks three years since an inflationary explosion that sent the cost of living soaring and real wages plummeting, a solid majority of registered voters believe Biden’s policies will cause prices to […]
Kellogg’s Faces Boycott After CEO Pushes ‘Cereal for Dinner’ in Response to Inflation
Kellogg Co. is facing a boycott after its CEO suggested cash-strapped families struggling with inflation should have “cereal for dinner.” Furious consumers will send a message to Kellogg during the fiscal second quarter and boycott Kellogg from April 1 to June 30 in an effort to pressure the company to lower prices, officials said. The […]
Inflation ‘Very Close to Normal’ and Prices ‘Moving in the Right Direction’ — But They’ll Go Up
In an interview with ABC News on Thursday, White House senior adviser Gene Sperling said that while “the public has had a tough few years,” the PCE (Personal Consumption Expenditures) price index reading was “very normal.” “We’re getting closer,” he said, “and prices are fluctuating.” “In the right direction” and “moderation.” But you can’t expect […]
Inflation Is Even Worse Than It Looks
The Fed’s Inflation Confidence Game When Fed officials met last month, they told us: “Greater confidence” It said inflation had fallen “sustainably” to 2% before it began cutting rates. It’s safe to say that Thursday’s inflation numbers are unlikely to boost that confidence. inflation is risingand fundamental indicators of price pressure suggest this is unlikely […]
Fed’s preferred inflation gauge shows prices rose in January while spending cooled
U.S. prices rose in January on the back of a sharp rise in service costs, but the annual inflation rate was the slowest in three years, putting the Federal Reserve on the table for a mid-year interest rate cut. Thursday’s Commerce Department report, which the Fed prioritizes over the CPI index, also showed that consumer […]
Stocks End Month at New Highs After Inflation Data: Markets Wrap – Yahoo Finance
(Bloomberg) – Wall Street traders worried about another disappointing inflation report were buoyed after the Federal Reserve’s preferred price gauge matched expectations. I was relieved to some extent. Most Read Articles on Bloomberg Stocks closed at record highs as a rise in the consumer spending index strengthened expectations that the Federal Reserve could cut interest […]