Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee meeting in Washington, D.C., on May 4, 2022.
Even more concerning is that so-called core prices, which strip out the more volatile measurements of food and energy, re-accelerated last month: Core prices climbed 6.3% from the previous year, above the 6.1% forecast from economists, and climbed 0.6% on a monthly basis – a bigger increase than in April, May, June and July, and a troubling sign that underlyingWall Street is now penciling in a 28% chance of a super-sized rate hike at the Fed's Sept.
But that was before the August inflation report, which experts agree was resoundingly bad, underscoring just how strong inflationary pressures in the economy still are. Bond yields spiked higher and stocks tumbled after theA shopper looks at organic produce at a supermarket in Montebello, California, on August 23, 2022.
"While higher interest rates, slower growth and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses," he said last month while speaking in Jackson Hole, Wyoming. "These are the unfortunate costs of reducing inflation. But a failure to restore price stability would mean far greater pain."
Source: Loan Digest (loandigest.net)
Extreme weather is driving up food costs greatly. This will not abate much as long as we ignore the issue and the dynamics. Here to stay. No way for Republicans change this but reduce production costs (wages), or face climate change and work for long term goals.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Surprisingly hot August inflation data solidifies odds of another jumbo Fed rate hikeAugust inflation data came in hotter than expected, raising the odds of an even more aggressive Federal Reserve interest rate hike when policymakers meet next week. The White House held an inflation celebration garden party today. Then sang sad old James Taylor songs. The beatings will continue until morale improves.
Source: FoxBusiness - 🏆 458. / 53 Read more »
Wall Street takes a big tumble following hotter-than-expected inflation reportThe stock market fell the most since June 2020 on fears the Federal Reserve will react with a bigger-than-expected interest rate hike. Inflation? Why? 🤔 Meanwhile Democrat Nit Wit in Chief celebrates the “Inflation Reduction Act.” Can’t make this stuff up.
Source: dallasnews - 🏆 18. / 71 Read more »
Stocks tumble after inflation stays hotter than expectedThe disappointing data means traders are bracing for the Federal Reserve to ultimately raise rates even higher than expected to combat inflation. BrianKirkland5 Votes have consequences Our government continues to lie to us daily, and NBC is helping to spread the lies.
Source: wsfa12news - 🏆 338. / 59 Read more »
In the Distant Future, All Earth's Creatures May Asphyxiate From Lack of OxygenThe Sun is going to be a lot hotter a billion years from now. The sky is falling…..
Source: futurism - 🏆 85. / 68 Read more »
Stocks tumble on hotter-than-expected inflation reportStocks opened sharply lower as Wall Street comes to the realization that inflation isn’t slowing as much as it had hoped. The higher-than-expected report on inflation likely means the Federal Reserve will ultimately have to raise rates higher. more printing more inflation higher interest rates a race And your guy will lie about it again and you won’t call him out. Month over month inflation was up just 0.1% but the price spikes from the first half of the year are already baked in, resulting in the 8.3% year over year inflation number.
Source: AP - 🏆 728. / 51 Read more »
Dow drops over 600 points as stocks tumble after hotter-than-expected CPI readingU.S. stock-index futures gave up early gains to turn sharply lower Tuesday after an unexpected monthly rise in the August consumer-price index dashed hopes for a further slowdown in inflation. FED FAIL BidenWorstPresidentInHistory BidenDestroysAmerica Bidenflation BidenNotMyPresident
Source: MarketWatch - 🏆 3. / 97 Read more »