Inflation rose 0.4% in April and 4.7% from a year ago, according to key gauge for the Fed
Inflation stayed stubbornly high in April, potentially reinforcing the chances that interest rates could stay higher for longer, according to a gauge released Friday that the Federal Reserve follows closely. The personal consumption expenditures price index, which measures a variety of goods and services and adjusts for changes in consumer behavior, rose 0.4% for the […]
There’s more work ahead to control inflation
Former Federal Reserve Board Chair Ben Bernanke speaks during a discussion on “Perspectives on Monetary Policy” during the Thomas Laubach Research Conference at the Federal Reserve Board building in Washington, DC, May 19, 2023. Saul Loeb | AFP | Getty Images WASHINGTON — Former Federal Reserve Chair Ben Bernanke, who guided the central bank and […]
Inflation Leads Americans’ Economic Pessimism
According to a recent CNBC survey, pessimism regarding the American economy is at an all-time high, with 69% of the public having a negative view. The leading reason is inflation in a weak economy. The latest report this week shows that inflation remains persistently high at near 5%, eroding slower-growing average weekly earnings year-over-year for […]
UK economy grows by 0.1% in the first quarter but inflation continues to weigh
A member of the public walks through heavy rain near the Bank of England in May 2023. Dan Kitwood | Getty Images News | Getty Images LONDON — The U.K. economy grew by 0.1% in the first quarter, following an unexpected contraction in March, official figures showed on Friday. Economists polled by Reuters had forecast […]
Wholesale prices rose just 0.2% in April, less than estimate as inflation pressures ease
Wholesale prices rose less than expected in April, according to a Labor Department report Thursday that provides more hope that inflation is at least trending lower. The producer price index, a measure of prices for final demand goods and services, increased 0.2%, against the Dow Jones estimate for 0.3% and after declining 0.4% in March. […]
Fed’s John Williams says rates could be increased if inflation doesn’t come down
John Williams, Chief Executive Officer of the Federal Reserve Bank of New York, speaks at an event in New York, November 6, 2019. Carlo Allegri | Reuters NEW YORK — New York Federal Reserve President John Williams on Tuesday cautioned that interest rate increases will take a while to work their way through the economy […]
Not Very Sophisticated Thinking About Inflation
A story in yesterday’s Wall Street Journal reminds us how even financial journalists may fail to go past common intuitions if not superstitions about inflation—or at least don’t ask all the questions that a familiarity with economic analysis suggests. “Some economists,” we are told, think that businesses are using inflation to “opportunistically” boost their profits, […]
Are greedy corporations causing inflation?
In the three years before covid-19 rich-world consumer prices rose by a total of 6%. In the three years since then they have risen by close to 20%. People are looking for someone to blame—and corporations are often top of the list. According to a recent survey by Morning Consult, a pollster, some 35% of […]
Key inflation gauge for the Fed rose 0.3% in March as expected
Despite a year’s worth of interest rate increases, inflation rose again in March, according to economic data released Friday that the Federal Reserve watches closely. The personal consumption expenditures price index excluding food and energy increased 0.3% for the month, in line with the Dow Jones estimate. On an annual basis, so-called core PCE increased […]
REMINDER: Inflation was at 1.4% When Biden Took Office
Inflation was only 1.4% when Biden took office. He began implementing policies on his first day that directly created the energy crisis in the US. He refused to reopen the economy under the pretense of COVID for as long as possible, disrupting the supply chain and damaging small businesses. Biden has created multi-trillion dollar spending […]