Inflation
Two key inflation reports this week will help decide the size of the Fed’s interest rate cut
People shop at a store in Brooklyn on August 14, 2024 in New York City. Spencer Platt | Getty Images The Federal Reserve gets its last look this week at inflation readings before it will determine the size of a widely-expected interest rate cut soon. On Wednesday, the Labor Department’s Bureau of Labor Statistics will […]
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Why a trip to Disney World or Disneyland may have gotten too pricey for the average American family
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Theme parks like Disney World and Disneyland are quickly becoming out of reach for many middle class families. Over the past 10 years, the average cost for a Disney World single-park ticket has increased more than 56%, above the national rate of […]
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Yellen says U.S. economy remains solid, on path to ‘soft landing’ with no meaningful layoffs
U.S. Secretary of the Treasury Janet Yellen speaks listens to a presentation during a tour at the IRS Processing Facility on September 06, 2024 in Austin, Texas. Brandon Bell | Getty Images Treasury Secretary Janet Yellen sought to reassure the public on Saturday that the U.S. economy remains strong, despite a string of weak job […]
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Nobel winner Joseph Stiglitz says Fed raised rates ‘too far, too fast’ — and now needs to cut big
Nobel Prize-winning economist Joseph Stiglitz says the Federal Reserve should deliver a half-point interest rate cut at its forthcoming meeting, accusing the U.S. central bank of going “too far, too fast” with monetary policy tightening and making the inflation problem worse. His comments come ahead of Friday’s pivotal release of U.S. jobs data, with investors […]
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Atlanta Fed President Bostic says officials can’t wait for inflation to hit 2% before cutting
speaking at Jackson Hole on August 23, 2024. David A. Grogan | CNBC Atlanta Federal Reserve President Raphael Bostic signaled Wednesday that he is ready to start lowering interest rates even though inflation is still running above the central bank’s target. Previously one of the more hawkish policymakers, or in favor of tighter policy to […]
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Weak manufacturing measures raise specter of U.S. economic slowdown
Workers assemble second-generation R1 vehicles at electric auto maker Rivian’s manufacturing facility in Normal, Illinois, U.S. June 21, 2024. Joel Angel Juarez | Reuters U.S. factories remained in slowdown mode in August, fueling fears about where the economy is headed, according to separate manufacturing gauges. The Institute for Supply Management monthly survey of purchasing managers […]
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The ‘rent-first’ lifestyle is catching on. From cars to clothes and even caskets, here’s when it makes sense to buy vs. rent
Owning isn’t always what it’s cracked up to be. For many reasons — including affordability — more Americans are choosing to rent everything from cars and apartments to clothing and furniture these days, according to a report by Intuit Credit Karma. Far beyond the traditional tuxedo, the rental industry has expanded in recent years to […]
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The Fed’s favorite inflation indicator increased 0.2% in July, as expected
Inflation edged higher in July, according to a measure favored by the Federal Reserve as the central bank prepares to enact its first interest rate reduction in more than four years. The Commerce Department reported Friday that the personal consumption expenditures price index rose 0.2% on the month and was up 2.5% from the same […]
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German inflation posts surprise drop to 2% in August
Women with KaDeWe carrier bags walk past the entrance to the Kaufhaus des Westens department store. Jörg Carstensen | Picture Alliance | Getty Images The harmonized German consumer price index eased to 2% in August, coming in lower than analysts had expected, preliminary data from the German statistics office Destatis said Thursday. A Reuters poll […]
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Goldman issues warning on how quickly market confidence has recovered from an August stocks slump
Traders work on the floor of the New York Stock Exchange during morning trading on Aug. 23, 2024. Angela Weiss | AFP | Getty Images The speedy return of market confidence following a dramatic global sell-off in risky assets should be seen as a cause for concern, according to the head of asset allocation research […]
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