U.S. Economy
Why the gold boom is causing a surge in illegal mining
In challenging economic and geopolitical times, investors bet on gold for its ability to store value. Gold prices hit record highs last year, with some analysts forecasting the precious metal could reach $3,000 an ounce by the end of 2025. But the boom has also been linked to a surge in illegal gold mining. “What […]
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Here’s the inflation breakdown for December 2024 — in one chart
Key Points The consumer price index, an inflation gauge, rose 2.9% on an annual basis in December. That’s up from 2.7% in November. Energy, food, new and used vehicles, car insurance and airline fares were among the contributors to the increase. There was some good news: “Core” CPI saw disinflation, as did shelter prices. Source
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BOJ deputy governor flags chance of rate hike next week
Shoppers in Tokyo, Japan, on Saturday, Sept. 16, 2022. James Whitlow Delano | Bloomberg | Getty Images The Bank of Japan will debate whether to raise interest rates next week, as prospects of sustained wage gains heighten and the U.S. policy outlook becomes clearer in President-elect Donald Trump’s inaugural address, Deputy Governor Ryozo Himino said. […]
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Trump’s plan for mass deportation could have a big effect on prices
The U.S. saw inflation cool in 2024, but economists warn that President-elect Donald Trump’s plan for the mass deportation of undocumented immigrants could greatly affect prices. “Certainly the economic impacts are going to be felt,” said David J. Bier, the director of immigration studies at the Cato Institute. “There’s going to be supply chain issues. […]
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10-year Treasury yield spikes to highest level since late 2023 after hotter-than-expected jobs report
U.S. Treasury yields jumped to their highest level since November 2023 after the latest jobs data came in stronger than economists had forecast. The 10-year Treasury yield added nearly six basis points at 4.745%. The 2-year Treasury surged more than 10 basis points at 4.369%. One basis point is equal to 0.01% and yields and […]
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Trump seeks Putin meeting as Biden administration announces twelfth-hour aid package to Kyiv
A souvenir shopkeeper displays Matryoshka dolls featuring Russian President Vladimir Putin and U.S. presidents, including Donald Trump. Misha Friedman | Getty Images News | Getty Images President-elect Donald Trump floated the possibility of a meeting with Kremlin leader Vladimir Putin to end the “bloody mess” in Ukraine, while the outgoing administration of Joe Biden pushed […]
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Biden cancels Italy trip due to California wildfires
US President Joe Biden arrives on the South Lawn of the White House as he returns to Washington, DC, from Camp David, on Jan. 2, 2025. Chris Kleponis | AFP | Getty Images U.S. President Joe Biden canceled an upcoming trip to Italy due to the wildfires in California, the White House said on Wednesday, adding that he wanted to […]
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10-year Treasury yield jumps after economic data points to sticky inflation
U.S. Treasury yields rose on Tuesday after economic data suggested services inflation is proving hard to tame. The 10-year Treasury yield climbed more than seven basis points to 4.693%, and earlier hit an intraday high of 4.699%, reaching its highest level since April 26. The 2-year Treasury yield gained more than two basis points to […]
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Experts say high food prices are here to stay. Here’s why
Inflation has steadily cooled over the past two years, despite seeing a slight stall in October and November. Prices for items such as gasoline, used cars and energy have all declined accordingly. However, food prices continue to outpace inflation, increasing by 28% since 2019. More than 85% of consumers report feeling frustrated with rising grocery […]
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Euro and British pound tumble against U.S. dollar as markets brace for Trump return
The euro and British pound hit multi-month lows against the U.S. dollar on Thursday, as the fresh trading year kicked off and investors geared up for the return of Donald Trump to the White House this month. The euro was 0.33% lower against the greenback at $1.032 shortly before 1 p.m. in London, hitting its […]
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