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May 24, 2022

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Biden administration says it has not ruled out export curbs to ease fuel prices

Reuters
BAYOU CHOCTAW, La., May 24 (Reuters) – U.S. President Joe Biden has not ruled out using export restrictions to ease soaring domestic fuel prices, U.S. Energy Secretary Jennifer Granholm said on Tuesday. Asked if the United States was considering restricting petroleum exports to ease fuel prices, Granholm said “I can......

Bill Ackman says a more aggressive Fed or market collapse are the only ways to stop this inflation

CNBC
CNBC – For more and to sign up click here Billionaire hedge fund manager Bill Ackman said raging inflation will only dissipate if the Federal Reserve acts more aggressively or the market sell-off turns into a full-on collapse. “There is no prospect for a material reduction in inflation unless the Fed aggressively......

Sales of newly built homes tumbled over 16% in April while prices soared

CNBC Real Estate
Sales of newly built homes dropped 16.6% in April from March, far more than expected, and were down 26.9% from April 2021, according to the U.S. Census. The annualized rate came in at 591,000 units, seasonally adjusted. Analysts had been expecting 750,000. March’s read was also revised lower. That is......

Sri Lanka increases fuel prices to address economic crisis

Reuters
COLOMBO, May 24 (Reuters) – Sri Lanka increased fuel prices on Tuesday, a long-flagged move to mend public finances and combat its debilitating economic crisis, but the hikes are bound to add to galloping inflation at least in the short term. Power and Energy Minister Kanchana Wijesekera said in a......

Electronics are set to get even more expensive as chip giants hike their prices

CNBC
CNBC – For more and to sign up click here A man walks past TSMC’s logo at the company’s headquarters in Hsinchu, Taiwan. Sam Yeh | AFP | Getty Images Products that rely on semiconductors are set to get even more expensive as chip foundries prepare to increase their prices,......

It’s not just spending — Biden’s record regulations are driving inflation too

NYPost
Jonathan Ingram The role of regulations in the inflation crisis is largely overlooked but shouldn’t be. When Washington wraps the economy in red tape, businesses must spend massive sums on compliance. Source – For more click here To Return to the Main Aggregate News Page – click here Break’n Pics......

Greece gets EU’s initial nod to cap power prices -minister

Reuters
Wind turbines operate atop a mountain during sunset near the town of Kalavrita, Greece, August 15, 2019. REUTERS/Alkis Konstantinidis Register now for FREE unlimited access to Reuters.com Register ATHENS, May 23 (Reuters) – Greece said on Monday the European Commission has initially approved its scheme to set a ceiling on......

Prices are surging, but people are still paying top dollar to watch live sports

CNBC
CNBC – For more and to sign up click here People are changing their spending habits as prices surge at rates not seen in four decades, making choices that favor experiences. That means big demand for live sports. Demand for sports attendance is usually “unresponsive to price changes,” said Dennis......

Ukraine Live Updates: Zelensky Says Military Aid Could Free Exports, Easing Food Prices

New York Times
New York Times – For more and to sign up click here President Biden on Saturday signed a new $40 billion package of military and humanitarian aid for Ukraine as the country braced for a drawn-out war of attrition in its eastern regions, vowing that it would not stop fighting......

Automakers are jacking up prices on electric vehicles to bake in rising materials costs

CNBC
CNBC – For more and to sign up click here Tesla’s Model 3 at the Tesla store in Washington, D.C. Salwan Georges | The Washington Post | Getty Images Automakers from Tesla to Rivian to Cadillac are hiking prices on their electric vehicles amid changing market conditions and rising commodity......

Recession is ‘likely,’ former SEC chief economist says. Here’s his advice for how to prepare

CNBC
CNBC – For more and to sign up click here Larry Harris Source: Larry Harris To tame the recent inflationary spike, the Federal Reserve signaled it will continue to raise interest rates. When rates are high, consumers get a better return on the money they stash in a bank account......

European Central Bank member says to expect first rate hikes this summer

CNBC
CNBC – For more and to sign up click here Joachim Nagel, Germany’s central bank governor and ECB member, shares his latest thoughts on inflation and the possibility of rate hikes in the euro zone. Bloomberg | Bloomberg | Getty Images The ECB will soon hike rates for the first......

Stephen Roach calls stagflation his base case, warns market is unprepared for the consequences

CNBC
CNBC – For more and to sign up click here Stagflation is making a comeback, according to former Morgan Stanley Asia chairman Stephen Roach. He warns the U.S. is on a dangerous path that leads to higher prices coupled with slower growth. “This inflation problem is widespread, it’s persistent and......

Gas prices just hit a new record high. Here are a few ways to cut down the cost

CNBC
CNBC – For more and to sign up click here As the summer driving season nears, gasoline prices show no signs of slowing down. The national average for unleaded gas hit a new high of $4.59 per gallon Thursday, according to AAA. For the first time ever, the average price was $4......

How relocating Americans created new inflation hot spots

CNBC Real Estate
Americans moved around a lot over the past two years, and those destinations also now happen to have the highest inflation rates in the U.S. “We saw right away that inflation was highest in Phoenix and lowest in San Francisco,” Redfin deputy chief economist Taylor Marr told CNBC. The relationship......

Shop These Best-Selling, Top-Rated Amazon Beach Bags With Prices Starting at $8 – E! Online

eonline
We independently selected these products because we love them, and we think you might like them at these prices. E! has affiliate relationships, so we may get a commission if you purchase… E! Online – For more and to sign up click here To Return to the Main Aggregate News......

UK inflation jumps to 40-year high of 9% as food and energy prices spiral

CNBC
CNBC – For more and to sign up click here More than four in five people in the U.K. are worried about rising living costs and their ability to afford basics necessities like food and energy over the coming months, according to a new survey. Tolga Akmen | Afp |......

As inflation slows and the ruble rallies, Russia is hoping to avoid a financial crisis

CNBC
CNBC – For more and to sign up click here Russian President Vladimir Putin. Pool | Reuters Russia believes it has swerved a financial crisis as its currency rallies and economic data improves, but strategists say the numbers mask some ugly truths for Moscow. Although inflation in the country is......

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