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The Federal government's Bureau of Labor Statistics released new price inflation data today, and the news wasn't good. According to the BLS, CPI inflation rose 8.3 percent, year over year, during August, before seasonal adjustment.
The roughly 70 million people – retirees, disabled people and others – who rely on Social Security could receive an 8.7% cost-of-living adjustment, or COLA, next year, according to an estimate by Mary Johnson, a policy analyst for the Senior Citizen League, an advocacy group.
Inflation Isn’t Just About Fuel Costs Anymore, As Price Increases Broaden Across the EconomySep 13, 2022 - 11:59:45 PDT
Rather than fuel, it was food, shelter and medical services that drove costs higher in August, slapping a costly tax on those least able to afford it.
Inflation breakeven rates, which reflect market expectations of the inflation outlook, all jumped after the release of the August CPI data. The two-year...
Billionaire Catsimatidis Warns the Fed Will ‘Destroy’ the US if They Keep Raising RatesSep 13, 2022 - 11:07:55 PDT
John Catsimatidis, Red Apple Group Chairman and CEO, joined "Varney & Co." Tuesday to discuss the destructive impact the Fed will have on the U.S. economy if they keep raising interest rates, arguing the country is going into a "vicious cycle."
Sep 13, 2022 - 11:02:59 PDT
After tens of billions have been shoveled into the black hole of Ukraine, known as the most corrupt country in Europe, Beltway conservative groups are belatedly waking up to the dollar hemorrhage. With a new $14 billion dollar giveaway on the table, groups such as Heritage Action and Center for Renewing America are screaming "enough!"
President Biden recently took credit for the deficit reduction. However, was it from spending controls or evaporation of liquidity?
Sep 13, 2022 - 10:16:57 PDT
On today’s inflation report for August, it is clear that The Fed has failed to cool off US inflation, meaning that MOAR QT is on the way. The NASDAQ composite index plunged -3.85% after The Fed’s failure was released.
The stock market came under pressure after the consumer price index report for August showed higher-than-expected inflation.
What do you think happens to inflation when the $USD rolls over due to Japan propping up the Yen?
Federal Reserve Chairman Jerome Powell has a big problem, and he can't do anything about it.
Sep 13, 2022 - 08:09:52 PDT
If enacted, the Senate’s sum would push spending on the military to at least $850 billion annually.
The global fuel market is set to remain tight for years due to low refining capacity and a lack of investment in new refining capacity
Treasury Secretary Janet Yellen Warns Gas Prices Could ‘Spike’ Again This WinterSep 13, 2022 - 07:58:03 PDT
"Well, it’s a risk, and it’s a risk that we’re working on the price cap to try to address," Yellen said, referencing an effort by G7 countries to place a price cap on Russian oil.
Advocates of American consumers, as well as advocates of the West’s resistance to Russia’s invasion of Ukraine, say the Biden policy is a disaster.
UK and European governments freezing energy prices risks blanketing the Continent in power blackouts, a Wall Street investment bank has warned today.
Heat, climate change, renewable power, and the grid are all in the news, with record temperatures and wildfires in California threatening citizens with
Germans bought 600,000 electric heating devices in the first half, up almost 35% from last year, according to data by market researcher GfK.
Bank of America Says the S&P 500 Bottom for the Next 12 Months Is Not In Yet: CNBC ProSep 13, 2022 - 07:16:57 PDT
Many feel safe with a buying and holding the S&P 500, but even that may be too dangerous, says Bank of America’s Subramanian.
U.S. consumer prices unexpectedly rose in August and underlying inflation picked up amid rising costs for rents and healthcare, giving the Federal Reserve ammunition to deliver a third 75 basis points interest rate hike next Wednesday.