Inflation
McDonald’s to extend $5 value meal offer into December in most U.S. markets
McDonald’s will extend its $5 value meal into December in most U.S. markets as it looks to win back lower-income consumers. Franchisees have been voting on extending the value meal, and roughly 80% of local markets have opted to extend the deal into December. Votes on extensions are ongoing, so additional locations may be added in […]
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CNBC Daily Open: Moving past sticky core inflation
Prices are displayed in a store window in Brooklyn on August 14, 2024 in New York City. Spencer Platt | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where […]
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European Central Bank poised to resume its rate-cutting cycle: Live updates
ECB likely to reduce rates in September — but no further cuts expected this year, economist says The big question for many market participants on Thursday is not whether the European Central Bank will cut interest rates — but what comes next. “I think that it is broad consensus not only among economists but also […]
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Consumer prices rose 0.2% in August as annual inflation rate hits lowest since early 2021
Prices increased as expected in August while the annual inflation rate declined to its lowest level since February 2021, according to a Labor Department report Wednesday that sets the stage for an expected quarter percentage point rate cut from the Federal Reserve in a week. The consumer price index, a broad measure of goods and […]
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CEO of property firm Damac expresses concerns over ‘expensive’ Dubai
DUBAI, United Arab Emirates — Dubai’s property scene is showing no sign of cooling off, as 2024 is on track to be another record year in terms of sales figures and property values, according to local real estate firms. Increasing demand for property, especially in the luxury space, is boosting prices not just of homes, […]
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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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