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Other companies are raising wages to attract employees, which could inflate prices for customers or reduce profit margins for owners.
Federal Reserve Chairman Jerome Powell has called the risks emanating from “frothy” stock prices and other potential financial imbalances “manageable.” Some current and former central bankers are not so sure. They worry that the Fed’s rock-bottom interest rates and massive bond buying might lead to asset price bubbles,...
The share of US dollar reserves held by central banks fell to 59 percent—its lowest level in 25 years—during the fourth quarter of 2020, according to the IMF’s Currency Composition of Official Foreign Exchange Reserves...
In response to Kaplan's hawkish comments stocks, which were already weak in early trading, slumped to session lows, forcing the Fed to engage in damage control again as today's remaining speakers offset Kaplan's remarks, while Yellen White House appearance tomorrow will likely be dedicated entirely to easing frayed investor nerves.
Bank of England Governor Warns Inflation Will Be 'a Bit Bumpy' This Year, but No Cause for AlarmMay 6, 2021 - 08:07:22 PDT
On inflation, the BOE said it expects the consumer prices index to temporarily climb above its 2% target toward the end of this year.
World food prices increased for a 11th consecutive month in April, hitting their highest level since May 2014, with sugar leading a rise in all the mainindices, the United Nations food agency said on Thursday.
The fiscal transformation has set the stage for a long period of economic decline and zero-sum, polarized politics.
Gold prices traded higher Thursday morning, pushing the commodity near a psychologically significant value around $1,800 as slipping bond yields and a slightly weaker U.S. dollar offered some support.
Arkansas Ends Sales Taxes On Gold & Silver; Additional States May Soon FollowMay 6, 2021 - 05:33:44 PDT
By signing sound money legislation today, Arkansas Gov. Asa Hutchinson has officially ended sales taxation on gold, silver, platinum, and palladium bullion and coins– thereby setting an example for legislators in New Jersey, Maine, Ohio, and Tennessee, who are still considering similar measures in their own states this year.
Initial Jobless Claims Fall To Pandemic Lows But Over 16 Million Americans Remain 'On The Dole'May 6, 2021 - 05:32:27 PDT
And while continuing claims ticked up very modestly last week (at 3.69mm from 3.65mm), the number of Americans on some form of government jobless benefit remains above 16 million...
U.S. inflation is unlikely to get out of control despite the unprecedented government spending that’s been authorized in response to the coronavirus pandemic, Federal Reserve officials said.“Our baseline view is that inflation is going to be close to our long-run objective of 2%, but we will be vigilant,” Fed Vice Chair Richard Clarita...
As seemingly every policy maker and market prognosticator jumps into the inflation fray, those who are putting their money where their mouths are have pushed one gauge of expected price pressures to an almost 13-year high. The five-year breakeven rate, a proxy for the annual inflation rate bond traders expect over the span, breached 2.7%...
Rents Soar for Millions of Americans as Threat of Eviction Looms: BloombergMay 6, 2021 - 05:22:57 PDT
Rents are soaring in many U.S. cities as the economy rebounds, squeezing the budgets of tenants who also face increased risk of eviction after courts overturned a pandemic-era ban.
Clarida Says the Fed Is 'a Long Way From Our Goals' and Tightening PolicyMay 6, 2021 - 05:20:42 PDT
Fed Vice Chairman Richard Clarida said he thinks the central bank should keep policy in place even as the economy storms back.
Copper Is ‘the New Oil’ and Low Inventories Could Push It to $20,000 per Ton, Analysts SayMay 6, 2021 - 05:16:23 PDT
The world risks "running out of copper" amid widening supply and demand deficits, according to Bank of America, and prices could hit $20,000 per metric ton by 2025.
The 10-year U.S. Treasury yield moved slightly lower on Thursday morning, ahead of the release of weekly jobless claims data.
Silver investment demand surged in 2020 in the midst of the coronavirus pandemic, according to the feature story in the most recent edition of the Silver Institute's Silver News.Holdings in silver-backed ETFs tripled last year, surpassing 1 billion ounces for the first time. Meanwhile, investment in physical silver also saw a healthy increase. Silver coin and silver bar purchases grew 8% to 200.5 million ounces in 2020.
SEC Chair Gary Gensler Raises Concerns about Robinhood, Trading Gamification and Social Media HypeMay 6, 2021 - 05:12:04 PDT
Gensler also left the door open to enforcement actions against those violating SEC rules: “While I cannot comment on ongoing examination and enforcement matters, SEC staff is vigorously reviewing these events for any violations. I also have directed staff to consider whether expanded enforcement mechanisms are necessary.”
Battle over Tax Hikes Muddies GOP’s Push to Become Party of the Working ClassMay 6, 2021 - 05:09:06 PDT
But Biden’s plan to raise taxes to fund blue-collar jobs and family benefits is pushing Republicans back into the position of defending corporate tax cuts and opposing popular policies.
Inflation is the word of the day.We've been talking about inflation for months, but now the mainstream is starting to pay attention to rising prices. In corporate board rooms, board members are talking about passing along their increased costs to their customers. Consumers are trying to tighten budgets. But the Federal Reserve keeps telling us there isn't a problem. Inflation - so we're told - is transitory. In his podcast, Peter Schiff said the central bankers at the Fed have to tell us that because they can't be honest about inflation.