Inflation
Australia’s central bank flags more rate rises, 75 basis point moves unlikely
The Reserve Bank of Australia building in Sydney on June 7, 2022. Australia’s top central banker on Tuesday flagged a lot more policy tightening ahead as rates were still “very low” and it was important that higher inflation did not feed into public expectations and wage claims. Muhammad Farooq | Afp | Getty Images Australia’s […]
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Former U.S. ambassador says lifting China tariffs could slash inflation by 1% over time, help Biden in midterms
Removing tariffs on imported Chinese goods will strip 1% off inflation in the U.S. over time and return confidence to the economy which could help President Joe Biden at the ballot box, former U.S. ambassador David Adelman says. “Inflation will be No. 1 issue in midterm elections in the U.S. in November,” Adelman told CNBC’s […]
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Singapore imports more than 90% of its food. Here’s how it’s dealing with rising food inflation
A rooftop farm in Singapore on May 27, 2020. The small island nation lacks natural resources and imports more than 90% of its food from more than 170 countries and regions. Lauryn Ishak| Bloomberg | Getty Images Singapore is known for its variety of street food and local cuisines, but many may not know it […]
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Have markets hit the bottom? Ed Yardeni says it’s not over until inflation peaks
Markets have been on a wild ride recently, swinging between gains and losses. However, the brutal selling has meant the S&P 500 is still in a bear market. When asked whether markets have hit a bottom, Wall Street veteran Ed Yardeni said he doesn’t think “we’re gonna climb out of this thing very quickly, not […]
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U.S. recession isn’t ‘inevitable,’ but inflation is ‘unacceptably high,’ Treasury Secretary Yellen says
U.S. Treasury Secretary Janet Yellen testifies before a House Ways and Means Committee hearing on President Biden’s proposed 2023 U.S. budget, on Capitol Hill in Washington, June 8, 2022. Jonathan Ernst | Reuters The recession that many Americans fear is coming is not “at all imminent,” Treasury Secretary Janet Yellen said Sunday. Talk of a […]
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Jokowi says rising food prices are dangerous and puts developing nations like Indonesia at risk
Indonesian President Joko Widodo, here seen standing to the left of U.S. President Joe Biden during a summit meeting of Southeast Asian leaders at the White House in May, hinted that he may try to launch a peace initiative during his upcoming visit to Europe. Drew Angerer | Getty Images News | Getty Images Indonesia’s […]
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Here are the three things the Fed has done wrong, and what it still isn’t getting right
The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., June 14, 2022. Sarah Silbiger | Reuters After years of being a beacon for financial markets, the Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy through a wicked bout of inflation and away from […]
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Casino stocks are taking a hit as consumers struggle with inflation and recession fears
Shares of casino companies have plummeted even as inflation has soared at rates not seen in four decades and fears of a recession rattle consumers and investors alike. Caesars Entertainment stock has plummeted 50% so far this quarter. Bally’s has dropped 40% over the same time period, and Penn National Gaming and MGM Resorts shares […]
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Fed promises ‘unconditional’ approach to taking down inflation in report to Congress
U.S. Federal Reserve Board Chairman Jerome Powell takes questions after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, June 15, 2022. Elizabeth Frantz | Reuters […]
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Powell vows that the Fed is ‘acutely focused’ on bringing down inflation
Federal Reserve Board Chairman Jerome Powell speaks to reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, U.S., June 15, 2022. Elizabeth Frantz | […]
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