Donald Trump has named Kevin Warsh, a governor of the U.S. Federal Reserve during the George W. Bush administration, to succeed Jerome Powell as chair of the central bank. Powell’s term expires in May.
Tag: inflation
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U.S. PRODUCER PRICES JUMP AS COMPANIES PASS TARIFF COSTS TO CUSTOMERS
In December, the price producers put on their products rose 0.5 percent, more than double November’s 0.2-percent increase and the largest monthly jump since July.
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BEWARE OF AI-DRIVEN INFLATION, INVESTMENT MANAGERS WARN
Global stock markets, still high on euphoria and fear of missing out over artificial intelligence (AI), may be ignoring a key and growing risk: a rise in inflation driven partly by the tech frenzy itself, money managers are warning.
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DID INFLATION’S PACE EASE IN NOVEMBER?
The U.S. Consumer Price Index increased by 2.7 percent in November, down from 3.0 percent in September, the Bureau of Labor Statistics (BLS) reported.
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DIVIDED FED COMMITTEE CUTS INTEREST RATE BY A QUARTER POINT
As widely expected, the U.S. Federal Reserve’s Open Market Committee cut its key interest rates to their lowest in three years.
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NIGHTMARE BEFORE CHRISTMAS: TRUMP’S FAILING THE INFLATION FIGHT, POLL SAYS
A newly released poll said last week that a majority of Americans from both political parties believe that President Donald Trump is losing the battle against inflation, with 57 percent of voters agreeing that they are quickly losing their purchasing power thanks to high prices.
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SEPTEMBER’S INFLATION WAS LOWER THAN EXPECTED
The long-delayed report on September’s U.S. inflation rate showed core prices rose at an annual pace of 2.8 percent, 0.2 percent higher than in August and just below the 2.9 percent annual rate booked the month before.
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TRUMP CALLS ‘AFFORDABILITY’ A DEMOCRATIC ‘HOAX
President Donald Trump’s new angle of attack after watching Democrats win the off-year election last month, based largely on concerns about the economy and prices, and claimed last week that “the word affordability” is nothing more than a “Democrat hoax.”
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LOW-INCOME AMERICANS “SCRAPING FOR CRUMBS” AMID AFFORDABILITY CRISIS
“It feels like everything is closing in around us,” Anissa Camacho, a 26-year-old florist in Bethlehem, Penn., told the Financial Times.
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THE AMERICAN MIDDLE CLASS IS BURNED OUT
“Life felt more doable a year and a half ago,” college communications officer Holly Frew said in a Wall Street Journal interview last week.