Inflation
European Central Bank member says to expect first rate hikes this summer
Joachim Nagel, Germany’s central bank governor and ECB member, shares his latest thoughts on inflation and the possibility of rate hikes in the euro zone. Bloomberg | Bloomberg | Getty Images The ECB will soon hike rates for the first time in more than a decade, a member of the central bank’s governing council told […]
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Southeast Asia’s e-commerce market is still in its ‘opening act,’ says venture capital firm
Southeast Asia’s e-commerce ecosystem is still at a “very, very nascent stage” and many more business models and companies will be formed in the region, said the founding partner of a venture capital firm. “We’re talking about single-digit digital penetration, as compared to the overall commerce penetration,” Amit Anand of Jungle Ventures, a Southeast Asian […]
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Stephen Roach calls stagflation his base case, warns market is unprepared for the consequences
Stagflation is making a comeback, according to former Morgan Stanley Asia chairman Stephen Roach. He warns the U.S. is on a dangerous path that leads to higher prices coupled with slower growth. “This inflation problem is widespread, it’s persistent and likely to be protracted,” Roach told CNBC’s “Fast Money” on Thursday. “The markets are not […]
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Inflation-fighting Fed isn’t focused on impact of rates on stocks, Esther George Says
Kansas City Federal Reserve President Esther George said Thursday that higher interest rates are needed now to bring down inflation and that policymakers are not focused on the impact that is having on the stock market. In a CNBC interview, the central bank official noted that the Fed is looking to tighten financial conditions, of […]
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House Democrats push for state and local taxes relief in appropriations bill
Rep. Tom Suozzi, D-N.Y., speaks during a news conference announcing the State and Local Taxes (SALT) Caucus outside the U.S. Capitol on April 15, 2021. Sarah Silbiger | Bloomberg | Getty Images Despite roadblocks, five House Democrats are still fighting for relief on the $10,000 limit on the federal deduction for state and local taxes, […]
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Rising fuel costs are a massive problem for business and consumers — Here’s why they’re so high
A sign displays gas prices at a gas station on May 10, 2022 in San Mateo County, California. Liu Guanguan | China News Service | Getty Images The surge in gasoline prices is impossible to miss and at the top of consumers’ minds as large billboards announce that gas now costs $4, or $5, and […]
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Gas prices just hit a new record high. Here are a few ways to cut down the cost
As the summer driving season nears, gasoline prices show no signs of slowing down. The national average for unleaded gas hit a new high of $4.59 per gallon Thursday, according to AAA. For the first time ever, the average price was $4 per gallon or above in all 50 states this week, AAA data shows. Last year at […]
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South Africa hikes rates as it steps up inflation fight
Lesetja Kganyago, governor of South Africa’s central bank, speaks during a news conference following a Monetary Policy Committee meeting in Pretoria, South Africa, on Thursday, May 25, 2017. Waldo Swiegers | Bloomberg | Getty Images South Africa’s central bank on Thursday increased its main lending rate by the largest margin in more than six years […]
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How relocating Americans created new inflation hot spots
Americans moved around a lot over the past two years, and those destinations also now happen to have the highest inflation rates in the U.S. “We saw right away that inflation was highest in Phoenix and lowest in San Francisco,” Redfin deputy chief economist Taylor Marr told CNBC. The relationship between migration and inflation has […]
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Retail stocks slide after Target, Walmart’s dire results. Here’s where to find the good buys
The second major earnings disappointment in retail this week sent many investors running for the exits, but that’s also created a few opportunities in the sector. On Wednesday morning, Target followed Walmart in delivering a big earnings miss for the first quarter, warning that rising costs were eating into profit margins. The report helped weigh […]
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