ECBs Knox: Headline inflation seems to have peaked.
ECB Knot ECBs Knot is speaking and says: The EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. […]
Wholesale egg prices have ‘collapsed’ from record highs in December
Egg shelves in New York on Jan. 21, 2023 with a note apologizing to customers for the price increase.Fatih Aktas/Anadolu Agency via Getty ImagesWholesale egg prices have cratered in recent weeks from record highs, meaning consumers may soon see relief at the grocery store.But the dynamics of egg pricing from the wholesale to retail market, […]
US President Biden urges congress to pass his proposed billionaire minimum tax
Share: US President Joe Biden is delivering his second State of the Union address to a Joint Session of Congress at the Capitol on Wednesday. Key quotes Committed to work with China where it can advance American interests and benefit the world. If China’s threatens US sovereignty, US will act to protect the […]
Market Rally Stirs Concerns It Could Feed Inflation
MarketsFinanceEconomists disagree about importance of market-driven financial conditions relative to Fed’s interest rates Source link
Ready to do more on inflation if needed
Share: “British central bank was prepared to do more to get inflation back to target,” said Bank of England (BoE) Chief Economist Huw Pill on Monday per Reuters. The news also states that the BoE suggested last week that interest rates were approaching their peak. Key comments I do have a high degree […]
Households Burn Through What’s Left of Their Pandemic Savings
The cushion of savings many built up during the pandemic is thinning out. In some households, it is already gone.Americans have spent down about 35% of the extra savings they accumulated during the pandemic as of mid-January, according to an estimate from Goldman Sachs. By the end of the year, the company forecasts that they […]
US inflation expectations probe greenback bulls
As markets await Federal Reserve (Fed) Chairman Jerome Powell’s reaction to the recently hawkish US data, sluggish inflation expectations seem to challenge the US Dollar Index (DXY) bulls during early Monday in Asia, following a two-day rebound from the multi-month low. That said, the US inflation expectations per the 10-year and 5-year breakeven inflation rates […]
Wall Street to Jerome Powell: We don’t believe you
Do you want the good news about the Federal Reserve and its chairman, Jerome Powell; the other good news; or the bad news? Let’s start with the first bit of good news. Powell and his fellow monetary-policy-committee members just lifted short-term interest rates another quarter of a percentage point to 4.75%, which means retirees and […]
U.S. credit card debt jumps 18.5% and hits a record $930.6 billion
For most Americans, inflation and rising interest rates are a one-two punch.On the heels of another rate hike this week by the Federal Reserve, credit card annual percentage rates are already near 20%, on average, and set to climb even higher. At the same time, more consumers are leaning on credit to afford increasingly expensive necessities, […]
Argentina OKs new 2,000 peso bill as inflation bites, still only worth $5 By Reuters
© Reuters. FILE PHOTO: A man shows Argentine pesos outside a bank in Buenos Aires’ financial district, Argentina August 30, 2018. Picture taken August 30, 2018. REUTERS/Marcos Brindicci/File Photo By Eliana Raszewski BUENOS AIRES (Reuters) – Argentina will roll out a new 2,000-peso bill, the central bank said on Thursday, which would double the face […]