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

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

Gold subdued on Fed comments after US inflation data

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?

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

Why Traders Have Started To Dump Crude

Why Traders Have Started To Dump Crude

US West Texas Intermediate crude oil futures are trading lower on Friday shortly after the release of a strong US Non-Farm Payrolls report that suggests the US is not in a recession and that the Fed is likely to continue on its aggressive rate hiking path. Prices have come under pressure this week as the … Read more

GTA home prices fall for fifth month; Oakville prices rise

GTA home prices fall for fifth month;  Oakville prices rise

The summer might be hot but Toronto’s real estate market is not. In most regions and neighborhoods average sale prices were down month-over-month as some plummeted by more than 31 per cent due to low sales activity. In July, the GTA’s housing market continued to soften as home prices dropped for a fifth consecutive month. … Read more

Fed’s Bullard sees more interest rate hikes ahead and no US recession

Fed’s Bullard sees more interest rate hikes ahead and no US recession

St. Louis Federal Reserve President James Bullard said Wednesday that the central bank will continue raising rates until it sees compelling evidence that inflation is falling. The central bank official said he expects another 1.5 percentage points or so in interest rate increases this year as the Fed continues to battle the highest inflation levels … Read more

What’s next for Toronto’s housing market?

What’s next for Toronto’s housing market?

If there’s one hint that Justin Beaudoin is selling his home — a two-storey townhouse on the edge of Barrie, Ont., replete with fresh laminate floors and refurbished kitchen cabinets — it’s that the main floor is remarkably tidy. The couch cushions are plump and the surfaces lack crumbs. When a prospective buyer rings the … Read more

US inflation surges again and stays at 40-year high, key price gauge shows

US inflation surges again and stays at 40-year high, key price gauge shows

The numbers: A key gauge of US inflation rose a sharp 1% in June, led by higher fuel prices, in a sign that price pressures in the economy are still intense and unlikely to relent quickly. The increase in the so-called personal-consumption price index exceeded Wall Street’s forecast. Economists had predicted a 0.9% advance. A … Read more

Market jump after Fed hike is ‘trap,’ Morgan Stanley warns investors

Market jump after Fed hike is ‘trap,’ Morgan Stanley warns investors

Morgan Stanley is urging investors to resist putting their money to work in stocks despite the market’s post-Fed-decision jump. Mike Wilson, the firm’s chief US equity strategist and chief investment officer, said he believes Wall Street’s excitement over the idea that interest rate hikes may slow sooner than expected is premature and problematic. “The market … Read more

The Fed could surprise markets by sounding even more aggressive as economy teeters

The Fed could surprise markets by sounding even more aggressive as economy teeters

Federal Reserve Chair Jerome Powell reacts as he testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing on the “Semiannual Monetary Policy Report to the Congress”, on Capitol Hill in Washington, DC, US, June 22, 2022. Elizabeth Frantz | Reuters The Federal Reserve is widely expected to raise interest rates by another three-quarters … Read more