The Personal Consumption Expenditures Price Index, the U.S. Federal Reserve’s favorite measure of inflation, edged up to an annual rate of 2.3 percent in October from 2.1 percent the month before, according to the Commerce Department.
Tag: inflation
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U.S. GDP GREW 2.8 PERCENT IN OCTOBER
The U.S. economy expanded by 2.8 percent in July through September as consumer spending remained strong and exports surged, the Commerce Department said.
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U.S. ECONOMY NOW MORE VULNERABLE TO PRICE SHOCKS, FED OFFICIAL WARNS
The U.S. is now more vulnerable to inflation shocks than in the past, Thomas Barkin, president of the Federal Reserve Bank of Richmond, told the Financial Times.
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EUROPE WILL GROW MORE SLOWLY THAN PREVIOUSLY THOUGHT, EC SAYS
The Eurozone’s economy will expand less in 2025 than previously thought, the European Commission (EC) said last week as it trimmed its next year’s growth forecast to 1.3 percent, down from 1.4 percent foreseen in May.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that have profoundly affected the business community.
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SPOTLIGHT ON U.S. INTEREST RATES
Because the U.S. economy is showing signs of strength and stability, the U.S. Federal Reserve will take its time to assess conditions before deciding when, and how quickly, to continue reducing its interest rates, Fed chair Jerome Powell said in a 14 November Dallas speech.
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BANK OF ENGLAND CUTS INTEREST RATE, SEES INFLATION RISING
By a vote of eight to one, the Bank of England’s (BoE’s) Monetary Policy Committee cut the bank’s key interest rate from 5 percent to 4.75 percent on 7 November.
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AS EXPECTED, FED CUTS RATE BY A QUARTER POINT
Last week, the U.S. Federal Reserve cut its key interest rates by a quarter point, dropping interest on deposits to 4.5 percent and on loans to 4.75 percent.
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COUNT OUT ABORTION AS A KEY ELECTIONS ISSUE
Again, The Trends Journal had forecast that Kamala Harris would defeat Donald Trump because of the abortion issue. We based this forecast on the U.S. 2022 mid-term election which the Republicans did not win big because of their anti-abortion stance.
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KEY INFLATION MEASURE FALLS TO 2.1 PERCENT IN SEPTEMBER
The Personal Consumption Expenditures Price Index, the U.S. Federal Reserve’s preferred measure of inflation, ran at an annualized rate of 2.1 percent in September, according to government data.