Inflation

The Inflation Reduction Act is a ‘tax-and-spend package’ that won’t reduce inflation; Investors should diversify into ‘real’ assets

by
The Inflation Reduction Act is a ‘tax-and-spend package’ that won’t reduce inflation; Investors should diversify into ‘real’ assets

As US inflation remains high at 8.5 percent in July, Phil Magness, Research and Education Director at the American Institute for Economic Research, called the Inflation Reduction Act “just a tax-and-spend package,” arguing it wouldn’t reduce inflation. “[The Inflation Reduction Act] is another exercise in Orwellian language,” said Magness. “They’re redefining terms… [it’s] just a … Read more

Feeling anxious about rising inflation? Interest rates? Here’s what to do – National

by
Feeling anxious about rising inflation? Interest rates? Here’s what to do – National

As Canadians navigate their way through higher interest rates and rising inflation, many are feeling more anxious and fearful when it comes to planning their finances, according to some financial planning experts. But, there are ways to deal with the uncertainty by becoming more financially literate, they say. “One of the most important things to … Read more

Investors refuse to accept higher rates are here to stay – and that’s a problem for financial markets

by
Investors refuse to accept higher rates are here to stay – and that’s a problem for financial markets

Traders work on the floor at the New York Stock Exchange in New York, on Aug. 10.Seth Wenig/The Associated Press With interest rates rising, and rapidly so, the driving force that dictated decision making in financial markets for the past fifteen years is dying out. In a flash, disoriented investors have been exposed to a … Read more

Fed’s Barkin says rate increases need to continue until inflation holds at 2%

by
Fed’s Barkin says rate increases need to continue until inflation holds at 2%

Despite positive inflation data this week, Richmond Federal Reserve President Thomas Barkin said Friday that more interest rate increases will be needed to tamp down price pressures. Releases this week showing that consumer and wholesale price increases softened in July were “very welcome,” Barkin told CNBC’s “Squawk on the Street” in a live interview. “So … Read more

Inflation pushes budget shoppers away from Walmart. Luring them back not easy, say experts – National

by
Inflation pushes budget shoppers away from Walmart. Luring them back not easy, say experts – National

Walmart Inc WMT.N could face an uphill battle to reclaim US shoppers who opted for the neighborhood dollar store or Aldi rather than driving farther to a Walmart Supercenter when gasoline was $5 a gallon. While gasoline prices have dropped nearly 20% over the past month, there are no signs shoppers are returning to the … Read more

Gold subdued on Fed comments after US inflation data

by
Gold subdued on Fed comments after US inflation data

Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea on March 2, 2022. SeongJoon Cho | Bloomberg | Getty Images Gold prices eased on Thursday from last session’s one-month peak, weighed down by hawkish policy remarks by US Federal Reserve officials even as data pointed to signs of inflation peaking. Spot … Read more

Is US Inflation Actually Cooling Quicker Than Expected?

by
Is US Inflation Actually Cooling Quicker Than Expected?

US inflation is cooling much quicker than experts are betting in a sign the Federal Reserve’s series of steep rate hikes are quashing price pressures. Prices climbed 8.5 percent in the world’s biggest economy last month, down from a 40-year high 9.1 percent, according to the Labor Department. Wall Street had forecast headline consumer price … Read more

Falling Gasoline Prices Keep Inflation In Check

by
Falling Gasoline Prices Keep Inflation In Check

The US Consumer Price Index (CPI) saw no real change in July, suggesting that inflation is easing as a result of falling gasoline prices, according to the latest data from the Bureau of Labor Statistics released Wednesday. Overall, the CPI that tracks gasoline prices dropped by 7.7%, while other indexes, including food, saw increases. Used … Read more

US consumer price inflation surprises to downside in July

by
US consumer price inflation surprises to downside in July

The numbers: The US consumer price index was unchanged in July, the Labor Department said Wednesday, compared with the 1.3% gain in the prior month. Economists polled by The Wall Street Journal had estimated a 0.2% advance in July. The rate of inflation in the 12 months ended in July retired to 8.5% from a … Read more

Gold price jumps as US inflation cools a bit in July but key core metric pace remains unchanged

by
Gold price jumps as US inflation cools a bit in July but key core metric pace remains unchanged

(Kitco News) Gold rallied after inflation in the US cooled slightly in July, coming in at 8.5%, which is still close to its highest annual rate in four decades. The US Consumer Price Index (CPI) came in at 8.5% in July and was lower than the market expectation of 8.7%. The most recent data follows … Read more