inflation

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Inflation Is Rising, and the Stakes Are High
Inflation Is Rising,
and the Stakes Are High
the rundown
Jun 10, 2021 10:40 AM CDT

Inflation Is Rising, and the Stakes Are High

The big question is whether it's a temporary blip related to the pandemic

(Newser) - A new government report confirms what many Americans probably already noticed: Prices are rising for all kinds of things. The Labor Department said Thursday that inflation rose 5% in May when compared to the previous year, which is higher than expected and the biggest spike since the summer of 2008—...

Dow Drops 681 Points After Inflation Report
Dow Drops 681 Points 
After Inflation Report
MARKETS
May 12, 2021 3:45 PM CDT

Dow Drops 681 Points After Inflation Report

S&P 500 dived 2.1%

(Newser) - Stocks pulled back again on Wall Street Wednesday after a surprisingly big jump in inflation last month worsened worries among investors that the economy may run too hot as it bounces back from its pandemic-induced recession. Tech giants, which had soared during the past year of lockdowns, took some of...

We Haven't Seen Inflation Like This Since 2008

Consumer prices are up 4.2% over past 12 months

(Newser) - A worrisome bout of inflation struck the economy in April, with US consumer prices for goods and services surging 0.8%, the largest monthly jump in in more than a decade, and the year-over-year increase reaching its fastest rate since 2008. Over the past 12 months, consumer prices have jumped...

Markets Now in &#39;Digestion&#39; Period
Markets Now in
'Digestion' Period
MARKETS
May 11, 2021 3:40 PM CDT

Markets Now in 'Digestion' Period

Dow drops 473 points as inflation fears grow

(Newser) - Stocks closed lower on Wall Street Tuesday, led by banks, industrial, and health care companies. Inflation remains a growing concern among investors, which would be a major drag on the overall market if it takes hold. the S&P 500 lost 0.9%. That, plus its losses Monday, outweigh the...

Inflation Fears Rattle Tech Investors
Inflation Fears Rattle
Tech Investors
MARKETS
Mar 3, 2021 4:04 PM CST

Inflation Fears Rattle Tech Investors

'The good news to remember is there are other groups taking the baton'

(Newser) - Technology companies led stocks lower on Wall Street Wednesday as another rise in bond yields rattled investors. Higher bond yields can signal that inflation could be on the way as the economy picks up—and many believe the economy this year could see a rebound with growth coming in at...

Senator 'Rightly Roasted' for His Minimum Wage Take

In 'NYT,' Binyamin Appelbaum slams John Thune's 'innumeracy' for tale of once making $6 an hour

(Newser) - As the fight continued this week over whether to raise the federal minimum wage from $7.25 an hour to $15, GOP Sen. John Thune of South Dakota weighed in against such a hike with a story from his boyhood. He said he started out busing tables at a family...

Fed Chair Announces Big Change on Interest Rates

Jerome Powell says Fed will keep rates near zero, even after inflation exceeds 2%

(Newser) - The Federal Reserve announced a significant change Thursday in how it manages interest rates by saying it plans to keep rates near zero even after inflation has exceeded the Fed's 2% target level. The change signifies that the Fed is prepared to tolerate a higher level of inflation than...

Fed Chief Indicates We're In for a Rate Cut

Possibly as soon as the July meeting

(Newser) - The S&P 500 crossed the 3,000 threshold for the first time ever Wednesday, as expectations for a July rate cut rise, reports CNBC . Federal Reserve Chairman Jerome Powell said Wednesday that "many" Fed officials believe a weakening global economy and rising trade tensions have strengthened the case...

Fed Lifts Interest Rates, Expects 3.6% Unemployment

Fed: US economy has strengthened considerably since the 2007-2008 recession and is in 'great shape'

(Newser) - The Federal Reserve has hiked the short-term interest rate a quarter of a percentage point, to a range of 1.75% to 2%, and suggested that two more increases are likely to occur this year, for a total of four in 2018, reports CNBC . The rate is closely tied to...

More Market Turmoil? Inflation Higher Than Expected

Investors may not be happy because it could lead to a hike in interest rates

(Newser) - Given the markets' recent volatility, investors were keeping a closer eye than usual on Wednesday's new inflation report—and they may not be thrilled with the data. The consumer price index showed that prices for everyday goods rose slightly higher than expected in January, reports the Wall Street Journal ...

Fed Jacks Key Rate for 2nd Time in 3 Months

And signals more hikes are ahead in 2017

(Newser) - The Federal Reserve has raised its benchmark interest rate for the second time in three months and signaled that any further hikes this year will be gradual. The move Wednesday reflects a consistently solid US economy and will likely mean higher rates on some consumer and business loans. The Fed'...

Yellen Could Stay Mum on One Big Question Today

Congress sure to ask about Fed's possible reaction to Trump's economic plan

(Newser) - Federal Reserve Chair Janet Yellen faces two tasks when she delivers her semiannual testimony to Congress starting Tuesday: As always, she'll sketch a picture of how she expects the economy to fare in coming months and how the Fed's interest rate policy may unfold. (In December, the Fed...

As Trump Takes Stage, Mexico's Peso Tanks

Already in freefall, uncertainty causes peso to hit an all-time low

(Newser) - The Mexican peso hit an all-time low against the dollar Wednesday shortly after President-elect Donald Trump took the stage, reports Reuters , falling to 22 pesos on the dollar. The peso was already in freefall, dropping 2% on Tuesday and almost 16% against the dollar since Trump's election victory amid...

He Works at Home Depot—When Not Messing With Venezuela

Gustavo Diaz once tried to overthrow Chavez; now he lives in Alabama

(Newser) - When he's not selling padlocks at Home Depot in Hoover, Ala., 60-year-old Gustavo Diaz is heading what Venezuelan President Nicolas Maduro calls an "economic war" against his country, laid out in full by the Wall Street Journal . Diaz's instrument: his DolarToday.com website, which Venezuela insists posts...

Things Are Getting Desperate in Venezuela
 Things Are Getting 
 Desperate in Venezuela 
THE RUNDOWN
Jun 22, 2016 11:43 AM CDT

Things Are Getting Desperate in Venezuela

As hunger deepens, looting increases

(Newser) - A shortage of beer and Coke is the least of concerns in Venezuela, where residents are facing hunger, drought, power shortages, and the world's highest inflation rate at 480% amid a worsening economic crisis brought about by plummeting oil prices. The latest:
  • The New York Times explains 87% of
...

Low Inflation Puzzles Fed as a Big Move Looms

2% target elusive, but it's not expected to deter Janet Yellen

(Newser) - The Federal Reserve is expected to raise its interest rates for the first time since 2006 when it meets this week, but some economists would like it to figure out just what is going on with inflation first. The central bank's target of 5% unemployment has been reached, but...

Cyprus Bank Grab Happening in US, Slowly
Cyprus Bank Grab
Happening in US, Slowly
OPINION
Mar 26, 2013 1:39 PM CDT

Cyprus Bank Grab Happening in US, Slowly

Thomas Sowell: The fed is subtly making the money you've saved less valuable

(Newser) - When Cyprus came up with its plan to take money out of its citizens' bank accounts, many Americans were aghast. Could such a thing, they wondered, ever happen here? "Yes and no," writes Thomas Sowell at RealClearPolitics . "The US government is very unlikely to just seize money...

Fed Announces $45B-a-Month Bond Buy

Plans to hold interest rates down until jobless rate hits 6.5%

(Newser) - The Federal Reserve dropped a bombshell today, announcing that it would spend $45 billion a month on bond purchases to keep interest rates low, and that it would keep its short-term rates near zero as long as it takes to get unemployment below 6.5%. It will also keep up...

Food Prices Could Jump 4% in 2013

And losses could hit $12B

(Newser) - For the average consumer, the effects of this year's brutal drought are still months away, but they are coming, as many food prices next year are expected to jump by as much as 4%, reports Reuters . Already corn and soy prices are going up , which is expected to lead...

Iran Warns Against Filming ... Chickens

With prices soaring, images of plenty could provoke poor, it says

(Newser) - There's a new way to run afoul of the government in Iran: by filming chickens. With food lines lengthening and prices soaring due to international sanctions, Iran's leaders are warning filmmakers and broadcasters not to show people enticing things they might not be able to afford—because doing...

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