Stock futures (^DJI, ^IXIC, ^GSPC) are taking in ADP’s jobs data for June and the US Department of Labor’s initial jobless claims from last week. Federal Reserve Jerome Powell feels the Fed has “made some progress” against inflation, stated at the ECB Forum on Central Banking yesterday, as officials slowly move back toward a disinflationary […]
Tag: Inflation
S&P 500, Nasdaq close at record highs as Powell touts inflation progress
Federal Reserve Chair Jerome Powell spoke publicly on Tuesday for the first time since the Fed’s preferred inflation gauge showed prices increased at their slowest pace in more than three years during the month of May. While still showing signs of caution, Powell admitted the data has been in the right direction recently. Yahoo Finance’s […]
S&P 500, Nasdaq eye fresh records as Powell notes inflation progress
Federal Reserve chair Jerome Powell spoke publicly on Tuesday for the first time since the Fed’s preferred inflation gauge showed prices increased at their slowest pace in more than three years during the month of May. While still showing signs of caution, Powell admitted the data has been in the right direction recently. Yahoo Finance’s […]
US inflation is slowing again, though it isn’t yet time to cut rates
WASHINGTON (AP) — Inflation in the United States is slowing again after higher readings earlier this year, Federal Reserve Chair Jerome Powell said Tuesday, while adding that more such evidence would be needed before the Fed would cut interest rates. After some persistently high inflation reports at the start of 2024, Powell said, the data […]
Powell says Fed needs more evidence of falling inflation before cutting rates
By Balazs Koranyi and Howard Schneider SINTRA, Portugal (Reuters) -The U.S. central bank still needs more data before cutting interest rates to ensure that recent weaker inflation readings give a true picture of what is happening to underlying price pressures, Federal Reserve Chair Jerome Powell said on Tuesday. Data for May showed the Fed’s preferred […]
Inflation down in Europe but Central Bank in no hurry to make more rate cuts
Inflation in the 20-nation eurozone crept lower to 2.5 per cent in June, but remained stuck above the level favoured by the European Central Bank, which is in no hurry to add more rate cuts after a first tentative reduction in its benchmark rate. The figure released on Tuesday was down from 2.6 per cent […]
US manufacturing extends slump; inflation pressures ebbing
By Lucia Mutikani WASHINGTON (Reuters) – U.S. manufacturing contracted for a third straight month in June as demand remained subdued, while a drop in a measure of prices paid by factories for inputs to a six-month low suggested that inflation could continue to subside. The weakness at the end of the second quarter reported by […]
Inflation in Germany fell to 2.2% in June, preliminary data shows
A woman holds money in her hand in front of a full shopping basket of groceries. Patrick Pleul/dpa Preliminary June inflation figures for Germany released on Monday showed inflation easing again, with prices 2.2% higher than the same month last year. That is a decline from the 2.4% figure for May, according to preliminary figures […]
Here’s Why I Don’t Think Americans’ Finances Will Ever Fully Recover From Inflation
DNY59 / Getty Images/iStockphoto You can’t turn anywhere without hearing about the impact of inflation since everything around us has become more expensive over the last few years. The inflation rate for the year ending in May was 3.3%; however, inflation peaked at 9.1% in June 2022, reaching the highest level in over 40 years. […]
Interest rates could rise as threat of inflation still looms
Agustin Carstens, chief of the Bank for International Settlements, says bank must be prepared to raise interest rates if needed – Akio Kon/Bloomberg Countries must be prepared to raise interest rates again if inflationary pressures return, a top central bank has warned. The Bank of International Settlements (BIS) has said “it is too soon to […]
Indexes cap stellar first half of 2024 with losses even after encouraging inflation report
Stock tradersDrew Angerer/Getty Images US indexes ended the day lower, despite market excitement over the latest PCE data. Both headline and core personal consumption expenditure readings came in 2.6% year-to-year. The stock market closed 2024’s first half strongly, with the S&P 500 up nearly 15%. US indexes slid on Friday after temporarily bounding to new […]
Indexes rise as traders cheer cooler PCE inflation
Xinhua/Wang Ying/ Getty Images US stocks rose Friday as traders took in new inflation data from the Fed’s preferred price gauge. PCE inflation cooled to 2.6% last month, the lowest pace of price growth in three years. Investors are feeling bullish about rate cuts by the end of the year, the CME FedWatch tool shows. […]