U.S. stock indexes fell on Thursday, with the Dow and the S&P 500 near two-year lows, after a bigger-than-expected rise in consumer prices last month sparked fears of another big rate hike from the Federal Reserve when it meets in November. The headline consumer price index gained at an annual pace of 8.2% in September,… Continue reading U.S. Stocks Rocked By Hot Inflation Data, Fed Hike Fears
Consumer Price Inflation Sizzles: What the Pros Are Saying
A key measure of consumer price inflation blew past economists’ estimates to hit a 40-year high in September, all but ensuring more aggressive interest rate hikes by the Federal Reserve. The consumer price index (CPI) rose 0.4% last month vs. expectations for a 0.2% increase, the Labor Department said Thursday. Year-over-year, CPI moderated to an… Continue reading Consumer Price Inflation Sizzles: What the Pros Are Saying
US stocks soar over 2% after September’s higher than expected inflation report sparks wild turnaround
Matthew Fox Drew Angerer/Getty Images US stocks surged more than 2% in a wild trading session after September’s CPI report doubled expectations at 0.4% month-over-month.The September inflation report poured cold water on hopes that the Fed will pivot away from its interest rate hikes anytime soon.Fed Fund Futures are now pricing in a 75 basis… Continue reading US stocks soar over 2% after September’s higher than expected inflation report sparks wild turnaround
Inflation and bond yields are peaking as demand destruction starts to dominate, economist says
Inflation and bond yields are close to peaking, according to top economist Komal Sri-Kumar. He also told CNBC that he expects a severe recession in the wake of monetary tightening and inflation. “I think we are reaching the point where demand destruction is going to dominate over supply uncertainties, and that’s what is happening.” Loading… Continue reading Inflation and bond yields are peaking as demand destruction starts to dominate, economist says
Wharton professor Jeremy Siegel warns the Fed will drive the economy into a depression if they wait for core inflation to fall back to 2%
Not even September’s stubbornly high CPI report could change Jeremy Siegel’s view that the Fed needs to stop hiking interest rates.Siegel told CNBC on Thursday that the Fed’s focus on lagging indicators is setting the economy up for disaster.”If the Fed waits for the core to get down to 2% year-over-year, it will drive the… Continue reading Wharton professor Jeremy Siegel warns the Fed will drive the economy into a depression if they wait for core inflation to fall back to 2%
The Fed will be more aggressive with rate hikes into early 2023 after September’s inflation shock, Barclays says
Barclays said Thursday it now expects “more aggressive, front-loaded hikes by the Fed” after September’s CPI. It projects the Fed to raise rates by 75 basis points in December and by 50 basis points in February 2023. It also sees the central bank starting to cut rates later next year. Loading Something is loading. Thanks… Continue reading The Fed will be more aggressive with rate hikes into early 2023 after September’s inflation shock, Barclays says
The Fed will keep issuing 75-basis-point hikes until ‘something cracks’ in the data, former PIMCO chief economist says
The Fed will likely keep hiking rates by 75 basis points until “something cracks” in the economic data, Paul McCulley warned. He pointed to the Fed’s watchfulness on the labor market and inflation, suggesting there could be a prolonged tightening cycle ahead. But a “crack” could first hit markets before it hits the real economy,… Continue reading The Fed will keep issuing 75-basis-point hikes until ‘something cracks’ in the data, former PIMCO chief economist says
Social Security Administration Boosts 2022 COLA Payment By 8.7% As Inflation Pressures Surge
The U.S. Social Security Administration lifted its cost-of-living adjustment for 2023 by 8.7%, the most in more than four decades, as inflation continues to surge in the world’s biggest economy. The U.S. Social Security Administration lifted its cost-of-living adjustment for 2022 by the most in more than four decades Thursday as inflation continues to boost… Continue reading Social Security Administration Boosts 2022 COLA Payment By 8.7% As Inflation Pressures Surge
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