Inflation
Business travel spending might not return to pre-pandemic levels until 2026
Lighted tunnel in the United Airlines terminal, O’Hare International Airport, Chicago Illinois. Andrew Woodley | Universal Images Group via Getty Images Business travel spending might not recover to pre-pandemic levels until sometime in 2026 — two years later than previously expected — as inflation, labor shortages and geopolitical issues slow the sector’s rebound, according to […]
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Fed’s Barkin says rate increases need to continue until inflation holds at 2%
Despite positive inflation data this week, Richmond Federal Reserve President Thomas Barkin said Friday that more interest rate increases will be needed to tamp down price pressures. Releases this week showing that consumer and wholesale price increases softened in July were “very welcome,” Barkin told CNBC’s “Squawk on the Street” in a live interview. “So […]
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Fed expected to stick with hawkish rate hikes until data show further slowing in inflation
The Federal Reserve is unlikely to pivot from its hawkish interest rate hikes despite positive signs this week that inflation in the U.S. could be easing, according to market strategists. On Thursday, the producer price index surprisingly fell 0.5% in July from the prior month, compared with an estimate of a 0.2% gain, according to […]
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Airfares, hotel rates and rental car prices fell in July. Here’s how you can score a good deal
Fluxfactory | E+ | Getty Images Travelers saw prices fall for big-ticket pieces of their vacation budgets in July, offering at least a temporary reprieve after soaring costs earlier this year. Airfares fell nearly 8% from June to July, while prices for rental cars and lodging like hotels declined 9.5% and about 3%, respectively, according […]
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Gas is cheaper but groceries are not: How to save as food inflation jumps at the fastest pace since 1979
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, notched the […]
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Everything from wages to used car prices could jump higher, market researcher Jim Bianco warns
Washington’s efforts to curb inflation will fall short particularly this year, according to market forecaster Jim Bianco. And, he believes this week’s key inflation data will help prove it. “I don’t see anything that will reduce the inflation rate. There are some things that might reduce prescription drug prices and maybe a couple of other […]
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Labor supply in hospitality sector is “very tight” given wage inflation: HSH CEO
The Hongkong and Shanghai Hotels’ CEO Clement Kwok says the luxury hotel group remains cautious on the business outlook despite the momentum in “revenge-spending”. Source
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As climate change threatens more homes, some properties are getting too costly to insure
Firefighters pull up to a burning house during the Kincade fire in Healdsburg, California, on Oct. 27, 2019. Josh Edelson | Afp | Getty Images As climate change threatens the U.S. with more natural disasters, it’s becoming increasingly costly for Americans to insure their homes — and it’s only expected to get worse, according to […]
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Fed Governor Bowman sees ‘similarly sized’ rate hikes ahead after three-quarter point moves
Federal Reserve Bank Governor Michelle Bowman gives her first public remarks as a Federal policymaker at an American Bankers Association conference In San Diego, California, February 11 2019. Ann Saphir | Reuters Federal Reserve Governor Michelle Bowman said Saturday she supports the central bank’s recent big interest rate increases and thinks they are likely to […]
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The lesson for Main Street from the Walmart, Target inventory failures
Filip Radwanski | Lightrocket | Getty Images The retail battle narrative over the past few decades has cited one of two wars: Amazon and e-commerce against the big bricks-and-mortar retailers, and everybody big against small Main Street entrepreneurs. But in the current confusing economic environment — marked by inflation, supply chain bottlenecks and a volatile […]
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