Inflation
1980s-era rate hikes designed to fight inflation will create more market turmoil, Canaccord’s Tony Dwyer predicts
Stocks may go into a deeper tailspin. Canaccord Genuity’s Tony Dwyer predicts 1980s-era interest rate hikes will exacerbate the turmoil and make a recession seem increasingly more likely. “Typically, I’ve been bullish over the years. But there’s a money availability problem,” the firm’s chief market strategist told CNBC’s “Fast Money” on Monday. “Ultimately, you have […]
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Watch live: Biden speaks about the highest inflation since 1981
[The stream is slated to start at 1:45 p.m. ET. Please refresh the page if you do not see a player above at that time.] President Joe Biden is set to speak about the latest inflation report, which showed that prices in the U.S. rose at their fastest annual pace since the early 1980s. Government […]
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Here’s what people expect to spend more on as inflation continues to surge
Regular unleaded gasoline was $4.69 a gallon (cash) at a Houston Exxon Mobil station on June 9, 2022. Gas prices are breaching record highs as demand increases and supply fails to keep up. Brandon Bell | Getty Images News | Getty Images Americans are still grappling with the worst inflation in roughly 40 years, and […]
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Inflation rose 8.6% in May, highest since 1981
Inflation accelerated further in May, with prices rising 8.6% from a year ago for the fastest increase since December 1981, the Bureau of Labor Statistics reported Friday. The consumer price index, a wide-ranging measure of goods and services prices, increased even more than the 8.3% Dow Jones estimate. Excluding volatile food and energy prices, so-called […]
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2-year Treasury yield surges above 2.9% on hotter-than-expected inflation report
Short-term U.S. Treasury yields popped Friday, after the release of hotter-than-expected inflation data raised concern over a possible recession. The 2-year rate jumped more than 8 basis points to trade above 2.9%. The benchmark 10-year Treasury yield briefly rose before giving up those gains, last trading at about 3.04%. Short-term rates moved more due to […]
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Russia cuts key interest rate back to prewar level
National flag flies over the Russian Central Bank headquarters in Moscow, Russia May 27, 2022. Maxim Shemetov | Reuters The Central Bank of Russia on Friday cut its key interest rate by 150 basis points to 9.5% — the level it was at when Russia’s invasion of Ukraine began. Although acknowledging that the external environment […]
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South Korean trucker strike plans to block shipments of materials for semiconductors
A general view of the Busan Port on November 05, 2021 in Busan, South Korea. South Korean truckers embarked on broader and more aggressive strike action on Friday, threatening to severely curtail shipments of raw materials for semiconductors and petrochemical products. Chung Sung-jun | Getty Images News | Getty Images South Korean truckers embarked on […]
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India will need to make a ‘growth sacrifice’ to slow inflation, says JPMorgan
India will need to make a “growth sacrifice” to contain inflation, a JPMorgan economist told CNBC on Thursday. On Wednesday, the Reserve Bank of India raised the repo rate, or the rate at which banks borrow from the central bank, by a sizable 50 basis points to 4.9 %. The move continues the RBI’s reversal […]
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European Central Bank confirms July rate hike plans, raises inflation projections significantly
The European Central Bank faces a tough balancing act, with inflation running at record highs while the war in Ukraine casts a shadow over the growth outlook. Thomas Lohnes | Getty Images News | Getty Images The European Central Bank on Thursday confirmed its intention to hike interest rates at its policy meeting next month […]
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Moderate Democrats push their party to do more to fight inflation
Rep. Suzan DelBene, D-Wash., chair of the New Democrat Coalition, speaks with members of the press outside the West Wing of the White House after meeting with President Joe Biden to discuss his domestic agenda, Wednesday, March 30, 2022, in Washington. Standing with DelBene are Rep. Scott Peters, D-Calif., left, and Rep. Ami Bera, D-Calif. […]
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