Inflation
The Fed’s Mary Daly says rate hikes should continue until inflation is tamed
San Francisco Federal Reserve President Mary Daly said Wednesday she backs raising interest rates aggressively until inflation comes down to a reasonable level. Those moves likely would entail multiple 50 basis point hikes at coming meetings, then a possible rest to see how the central bank policy tightening is combining with other factors in addressing […]
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Yellen says the administration is fighting inflation, admits she was wrong that it was ‘transitory’
Treasury Secretary Janet Yellen emphasized that the White House has several strategies ready to go that will reduce an inflation burden she conceded is too high on Americans. In an interview Tuesday with CNBC’s Becky Quick, Yellen listed efforts aimed at prescription drug costs, the budget deficit and oil production that could bring down prices […]
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India is better positioned to weather food inflation, says official
India is relatively better positioned to weather the global rise in food prices, the country’s chief economic advisor V. Anantha Nageswaran told CNBC’S “Street Signs Asia” on Wednesday. “It is a tricky situation … for many countries, but India is relatively better placed because of the fact that there is ample availability of food grain, […]
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Australia’s economy held up well in Q1, more growth ahead
Residents shop at a supermarket in Canberra on August 12, 2021. Australia’s economy held up better than expected in the first quarter as strong domestic demand offset the drag from dismal weather and a flood of imports, setting the scene for more inflation-fighting hikes in interest rates. Rohan Thomson | Afp | Getty Images Australia’s […]
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British pound is taking on ’emerging market’ characteristics, Bank of America says
A trader pauses while monitoring financial data on computer screens at ETX Capital, a broker of contracts-for-difference, in London, U.K. on Friday, Oct. 7, 2016. Chris Ratcliffe | Bloomberg | Getty Images LONDON – Sterling is in danger of becoming an “emerging market” currency as falling growth and growing risks cause investors to flee the […]
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Euro zone inflation hits yet another record high as food and energy prices soar
A market in the city center of Bonn, Germany on Feb 5, 2022. Nurphoto | Nurphoto | Getty Images Prices in the euro zone continued their march higher in May, hitting a record high for the seventh month in a row. Inflation came in at 8.1% for the month, according to preliminary figures from Europe’s […]
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Families will skip meals to deal with the cost-of-living crisis, UN special advocate says
The war between Russia and Ukraine — both major producers of food commodities and energy — has disrupted global production, trade and supply in these areas, leading to a surge in prices. Solstock | E+ | Getty Images Queen Maxima of the Netherlands has told CNBC that she is very worried about the impact of […]
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Investment banks pick their top stocks to buy in the ‘beaten down’ tech sector
Analysts at leading investment banks say a number of tech stocks present compelling buying opportunities right now — with some more than 30% off their 52-week highs. A storm of headwinds have hit tech stocks and investors are asking about names that are nearing the bottom, according to Bank of America . “Tech is facing […]
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Fed Governor Christopher Waller says he’s prepared to take rates past ‘neutral’ to fight inflation
Christopher Waller, U.S. President Donald Trump’s nominee for governor of the Federal Reserve, listens during a Senate Banking Committee confirmation hearing in Washington, D.C., on Thursday, Feb. 13, 2020. Andrew Harrer | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller said Monday he sees interest rate increases continuing through the rest of the year […]
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German inflation at highest level in nearly half a century
Cologne, Germany, February 19 2022: Consumer prices in Germany increased an annual 8.7% in May, the Federal Statistics Office said on Monday. Sascha Schuermann | Getty Images News | Getty Images German inflation reached its highest level in nearly half a century in May, a result of energy and food prices that have only gone […]
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