Inflation
Powell says taming inflation ‘absolutely essential,’ and a 50 basis point hike possible for May
Federal Reserve Chairman Jerome Powell affirmed the central bank’s determination to bring down inflation and said Thursday that aggressive rate hikes are possible as soon as next month. “It is appropriate in my view to be moving a little more quickly” to raise interest rates, Powell said while part of an International Monetary Fund panel. […]
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White House sees strong GDP growth in 2022 despite inflation risks
The White House sees more risks to U.S. economic activity in the months ahead thanks to rising prices and Russia’s invasion of Ukraine, but still expects healthy GDP growth in 2022. A senior administration official told CNBC that the recent rise in energy and food prices — caused in large part by Moscow’s attack on […]
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From soaring food prices to social unrest, the fallout from the Russia-Ukraine war could be immense
People attend ‘Mothers’ March’ as part of the ‘Stand with Ukraine’ international protest, in Krakow, Poland on April 10, 2022. Nurphoto | Nurphoto | Getty Images When Russia invaded Ukraine no one knew how long the ensuing conflict would last, or how deep the shockwaves sent through Europe or the rest of the world would […]
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South Korea’s new central bank governor flags weaker growth
South Korea’s new central bank governor Rhee Chang-yong said the Ukraine crisis, U.S. monetary tightening, and Covid-19 resurgence in China as near-term factors weighing on economic growth amid persistently high inflation. Bloomberg | Bloomberg | Getty Images South Korea’s new central bank governor Rhee Chang-yong said on Thursday that economic growth is expected to weaken […]
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As the dollar jumps to two-year highs, the ‘Fast Money’ traders deliver winners and losers
Wall Street may be underestimating the dollar’s jump to two year highs. “With each passing day the dollar goes higher. That creates more of a headwind for the multinationals in the market in general,” “Fast Money” trader Guy Adami said on Tuesday. “A stronger dollar, as counterintuitive as it may be, is not good for […]
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Elon Musk says he thinks inflation is worse than reported and likely to continue through 2022
Tesla Inc CEO Elon Musk attends the World Artificial Intelligence Conference (WAIC) in Shanghai, China August 29, 2019. Aly Song | Reuters On Tesla’s first-quarter earnings call Wednesday, CEO Elon Musk said he thinks that inflation is worse than reported and is likely to last all year in 2022. U.S. inflation rose 8.5% annually in March to […]
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Fed’s Daly says the economy can handle rate hikes, but a mild recession is possible
Mary Daly, President of the Federal Reserve Bank of San Francisco, poses after giving a speech on the U.S. economic outlook, in Idaho Falls, Idaho, November 12 2018. Ann Saphir | Reuters San Francisco Federal Reserve President Mary Daly acknowledged Wednesday that a near-certain series of interest rate hikes over the coming months could tip […]
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Young people are saving money and paying off debt through ‘cash stuffing.’ Here’s how it works
As news of soaring gas prices splashed across headlines, Yasmine Camilla saw her energy bill double “almost overnight.” Filling up the tank now costs 30% to 40% more, she says. But this rising cost of living is something she would never have noticed eight months ago. “I had always just filled up my car when […]
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Fed’s Bostic expresses caution about the pace of interest rate hikes
Atlanta Federal Reserve President Raphael Bostic on Tuesday expressed concern about the impact that rate hikes could have on the U.S. economic recovery, saying the central bank shouldn’t move so fast that it chokes off growth. Bostic did not commit in a CNBC interview to what pace the Fed should take in increasing benchmark rates. […]
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A brutal bond market sell-off wreaks havoc on one of fixed income’s most popular ETFs
Things are getting pretty bad for 30-year Treasury bonds, the prices for which are plumbing depths not seen since the early days of the Covid crisis. Source
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