Inflation
It’s a daunting time for retirees, who face the biggest inflation threat, financial advisors say
MoMo Productions | Stone | Getty Images Retirees and those planning to retire soon are the people most threatened by high inflation, investment managers and financial experts said at CNBC’s Financial Advisor Summit. Inflation means a dollar today can buy fewer groceries and other household staples than it did a year ago, on average. Some […]
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Here’s everything the Fed is expected to announce, including the biggest rate hike in 28 years
US Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington, DC, on May 4, 2022. Jim Watson | AFP | Getty Images The Federal Reserve on Wednesday is expected to do something it hasn’t done in 28 years — increase interest rates by three-quarters of a percentage point. In response to soaring […]
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Retail sales posted unexpected 0.3% decline in May as inflation hammers consumers
Retail sales turned negative in May as consumers pulled back spending while inflation surged, the Commerce Department reported Wednesday. Advance retail and food service spending fell 0.3% for the month, below the Dow Jones estimate for a 0.1% gain. Excluding autos, sales were up 0.5%, which fell short of expectations for a 0.8% increase. The […]
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Jeremy Siegel says 100 basis point rate hike is ‘medicine to stop this inflation’
Wharton’s Jeremy Siegel is calling for a 100 basis point rate hike, and says markets may be “close to the bottom.” A 100 basis point rate hike by the Federal Reserve on Wednesday will be “medicine to stop this inflation,” the Wharton professor of finance at the University of Pennsylvania told CNBC on Wednesday. “The Fed needs […]
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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 […]
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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 […]
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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 […]
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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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