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July 1, 2022

Inflation

Euro zone inflation hits record 8.6% as the European Central Bank prepares for its first rate hike in 11 years

CNBC
CNBC – For more and to sign up click here The ECB has announced it will be hiking rates in July and September to counter record inflation. Daniel Roland | Afp | Getty Images Euro zone inflation reached a new record high in June just ahead of the European Central......

The crypto collapse shows the Fed’s job is ‘almost complete’ against inflation, Jim Cramer says

CNBC
CNBC – For more and to sign up click here CNBC’s Jim Cramer on Thursday said that the rapid slide in the cryptocurrency market shows that the Federal Reserve is making progress in its arduous struggle to tamp down inflation. “There is one front in the war on inflation that’s......

U.S. inflation data offer no quick relief to Fed, but hint at a peak

Reuters
WASHINGTON, June 30 (Reuters) – New U.S. data for May showed little immediate relief from the record pace of inflation pushing the Federal Reserve toward another oversized interest rate increase next month, but it did add to a developing sense that the worst may be over. Inflation as measured by......

The market’s worst first half in 50 years has all come down to one thing

CNBC
CNBC – For more and to sign up click here Traders on the floor of the NYSE, June 29, 2022. Source: NYSE A multitude of factors conspired to generate the stock market’s worst first-half since 1970, but they all emanated from one word: Inflation. The cost of living started the......

Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs

CNBC
CNBC – For more and to sign up click here Inflation held at stubbornly high levels in May, though the monthly increased was slightly less than expected, according to a gauge closely watched by the Federal Reserve. Core personal consumption expenditures prices rose 4.7% from a year ago, 0.2 percentage......

Inflation is making Fourth of July celebrations more expensive than ever

CNBC
CNBC – For more and to sign up click here Fotografia Inc. | E+ | Getty Images Nothing says Independence Day like a good, old-fashioned barbecue. In keeping with tradition, most Americans — roughly 60% — plan to grill this weekend, and 53% will get together with friends and family,......

Texans view state’s economic growth as a good thing but feel pinch of higher prices — CBS News poll

CBS News
CBS News – For more and to sign up click here Texans rate their state’s economy better than Americans rate the nation’s overall, and they’re mostly optimistic about Texas’ — much more so than they are about the national economy.  Texans view the economic growth of their state in a......

Collapsing consumer confidence is right on the money about US economy

NYPost
Post Editorial Board Consumers know better. They see the economic storm clouds looming. So, too, do some economists, who think we may already be in a soft recession. Source – For more click here To Return to the Main Aggregate News Page – click here Break’n Pics – Click here......

Global central bankers confront a changed inflation picture, and pledge to respond.

New York Times
SINTRA, Portugal — Three of the world’s top central bankers set out a grim prediction on Wednesday: The forces that weighed down inflation for decades before the onset of the pandemic may never return, forcing policymakers to keep up efforts to cool down their economies in a bid to get......

‘It’s like going to the DMV online’: What to know about buying Series I savings bonds via TreasuryDirect

CNBC
CNBC – For more and to sign up click here Eakgrunge | Istock | Getty Images There’s been record demand for federal Series I savings bonds, an inflation-protected and nearly risk-free asset, offering an eye-popping 9.62% annual return through October. However, it’s not easy to buy I bonds through TreasuryDirect,......

Powell vows to prevent inflation from taking hold in the U.S. for the long run

CNBC
CNBC – For more and to sign up click here U.S. Federal Reserve Board Chair Jerome Powell testifies before a House Financial Services Committee hearing in Washington, U.S., June 23, 2022.  Mary F. Calvert | Reuters Federal Reserve Chair Jerome Powell vowed Wednesday that policymakers would not allow inflation to......

Summer temperatures — and inflation — are running hot. Here’s how to save money on cooling bills as prices rise

CNBC
CNBC – For more and to sign up click here A pedestrian uses an umbrella to get some relief from the sun as she walks past a sign displaying the temperature on June 20, 2017 in Phoenix, Arizona. Ralph Freso | Getty Images Tips for efficient energy use Most cooling......

Stocks mostly slip, yields ease in wake of Powell inflation comments

Reuters
S&P 500 down slightly early Powell: clock is ‘running’ for Fed on lowering inflation U.S. dollar higher NEW YORK, June 29 (Reuters) – Stocks on global indexes mostly edged lower and Treasury yields eased on Wednesday as investors weighed comments by Federal Reserve Chairman Jerome Powell, who said there is......

Movies have momentum headed into the second half of 2022, if inflation doesn’t spoil it

CNBC
CNBC – For more and to sign up click here “Top Gun: Maverick” rocketed to $1 billion at the global box office over the weekend, setting a new career milestone for star Tom Cruise and signaling some momentum for the domestic box office as it heads into the second half......

Watch Fed Chair Powell talk live about the economy, interest rates at ECB forum

CNBC
CNBC – For more and to sign up click here [The stream is slated to start at 9 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell speaks Wednesday to a European Central Bank forum on central......

Fed’s Mester backs 75 basis point hike in July if conditions remain the same

CNBC
CNBC – For more and to sign up click here Cleveland Fed President Loretta Mester takes part in a panel convened to speak about the health of the U.S. economy in New York November 18, 2015. Lucas Jackson | Reuters Federal Reserve Bank of Cleveland President Loretta Mester said Wednesday......

European Central Bank member Holzmann says there’s ample room to hike to cool surging inflation

CNBC
CNBC – For more and to sign up click here The ECB is heading to a critical meeting in July with a rate rise expected and investors awaiting details of its new fragmentation tool. Daniel Roland | Afp | Getty Images A member of the European Central Bank told CNBC......

ECB’s chief economist sees double-sided risk of spiraling inflation and an economic slowdown

CNBC
CNBC – For more and to sign up click here Philip Lane, chief economist of the European Central Bank. Bloomberg | Bloomberg | Getty Images European Central Bank Chief Economist Philip Lane said the Frankfurt institution will have to remain vigilant over the coming months with the prospect of inflation......

S.Korea’s LGES reviews plan for $1.3 bln Arizona battery plant as U.S. inflation bites

Reuters
SEOUL, June 29 (Reuters) – South Korean battery maker LG Energy Solution Ltd (LGES) (373220.KS) plans to reassess its investment plan for a standalone Arizona battery factory due to the current U.S. economic environment, a company spokesperson said on Wednesday. The spokesperson’s comments on the previously announced $1.3 billion investment......

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