Inflation
Travelers are upset about rising costs, but most aren’t canceling their plans just yet
Summer travel talk sure isn’t what it used to be. Rather than sun, sand and surf, many travel discussions now center on inflation, rising fuel costs and flight cancellations, a situation which could derail a much-needed 2022 summer travel comeback. Travel conversations on Twitter decreased 75% from April to May, while discussions related to gas […]
Read More
Wall Street is on a one way trip to misery until Fed hikes stop, market forecaster Jim Bianco warns
Until inflation peaks and the Federal Reserve stops hiking rates, market forecaster Jim Bianco warns Wall Street is on a one way trip to misery. “The Fed only has one tool to bring in inflation and that is they have to slow demand,” the Bianco Research president told CNBC “Fast Money” on Tuesday. “We may […]
Read More
Make these money moves before the Fed hikes rates again
Chairman of the Federal Reserve Jerome Powell (left) meets with President Joe Biden in the Oval Office on May 31, 2022. Saul Loeb | AFP | Getty Images The Federal Reserve is again poised to raise interest rates in an attempt to slow down the highest inflation in four decades without pushing the U.S. economy […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More