Inflation expectations among American consumers surged in January, according to the latest University of Michigan survey, casting doubt on the Federal Reserveâs decision to cut interest rates three times late last year. The findings suggest that while consumers feel marginally better about their personal finances, concerns about rising prices in the months ahead have intensified.
Inflation Expectations Surge, Pulling Down Consumer Sentiment, Casting Doubt on Fed Policy
Opinion: JD Vance Epically Fails to Understand How Inflation Works
âSo heâs an idiot, right?â The New Abnormal co-host Danielle Moodie asks after the GOP vice presidential nomineeâs bungled explanation. Published Sep. 01, 2024 5:00AM EDT opinion Photo Illustration by Erin O’Flynn/The Daily Beast/Getty Images Listen to this full episode of The New Abnormal on Apple Podcasts , Spotify , Amazon , and Stitcher .
Trump Vows to Sign Executive Order ‘Directing’ Cabinet Secretaries, Agencies to ‘Use Every Tool’ to ‘Defeat Inflation’
Former President Donald Trump vowed that if elected president, he would âsign an executive order directingâ each cabinet secretary and agency head to âuse every toolâ they had to defeat inflation. âOn my first day back in the Oval Office, I will sign an executive order directing every cabinet secretary and agency head to use
Trump hammers âdefectiveâ Democrats on border, inflation and foreign policy in a wide-ranging interview with Elon Musk
Former President Donald Trump and billionaire business tycoon Elon Musk chewed over several key 2024 election issues during their much-anticipated X discussion on Monday. More than 1.2 million users of Muskâs social media platform tuned in to the interview â billed as a âconversationâ or a âchatâ â and heard the Republican nominee for president […]
Denny’s ‘Lumberjack Slam’ Platter Triples in Cost, Rising to $18 amid Inflation
A Dennyâs breakfast platter has apparently become extremely expensive amid choking inflation and labor costs. A post on Reddit shows an image of the restaurantâs menu where the price of the Lumberjack Slam sits at $17.99, the New York Post reported on Friday, noting that a decade ago, the meal cost around $5.99: Dennyâs $18
Minneapolis Fed Pres.: Gov’t ‘Contributed to’ Inflation, Inflation ‘Sideways’, Need ‘Many More Months’ for Rate Cuts
During an interview with CNBC Europe on Tuesday, Minneapolis Federal Reserve Bank President Neel Kashkari stated that right now, inflation is going sideways, we need âmany more months of positive inflation dataâ to get one to two rate cuts and government spending is âone of the factors that has contributed to the high inflation.â Kashkari began
Axelrod: Biden Is Self-Congratulating, Not ‘Advocating for People in a Tough Economy Because of the Inflation’
On Tuesdayâs broadcast of CNNâs âAC36src,â CNN Senior Political Commentator and former Obama adviser David Axelrod stated that while democracy issues are important, âif youâre sitting around the kitchen table talking about democracy and the future of democracy, itâs [probably] because you donât have to worry about the cost of the food on your table.â
Yellen on Inflation Upticks: Trend ‘Favorable’ But Don’t ‘Expect This to Be a Smooth Path Month to Month’
During an interview with the Fox Business Network on Wednesday, Treasury Secretary Janet Yellen reacted to the February CPI and rises in inflation over the past three months by stating that she doesnât âexpect this to be a smooth path month to month, but the trend is clearly favorable.â Fox Business White House Correspondent Edward
Argentinaâs Inflation Slows Down After 3 Months of Milei âShock Therapyâ
The National Institute of Statistics and Census of Argentina (INDEC) announced on Tuesday that Argentina registered a 13.2 percent inflation rate in February, marking the second month in a row where inflation has slowed down as a result of President Javier Mileiâs austerity policies. Upon taking office in December, Milei applied a series of âshock
White House: PPI Inflation Hitting 11-Month High ‘Tempers’ Worries, ‘Inflation Has Been Coming Down’
On Thursdayâs broadcast of Bloombergâs âBalance of Power,â White House Council of Economic Advisers member Heather Boushey stated that the March PPI inflation data, which showed the highest level in almost a year, âtempersâ worries in the wake of the CPI report and argued that âWe continue to see this economy delivering for the American
White House: Biden’s Fighting Inflation with Student Loan Plan
On Thursdayâs broadcast of Bloombergâs âBalance of Power,â White House Council of Economic Advisers member Heather Boushey stated that President Joe Biden is fighting inflation and its impact by âlowering the cost of student debt for all of those borrowersâ with the student loan plan he announced earlier in the week. Boushey said, â[T]he President
Biden Co-Chair Clyburn on Klain Inflation Criticism: ‘I’m Not an Economist’ ‘Don’t Know How These Issues Really Work’
On Wednesdayâs broadcast of âCNN Newsroom,â Biden Campaign Co-Chair Rep. James Clyburn (D-SC) responded to criticism by Bidenâs former Chief of Staff Ron Klain of President Joe Biden for touting infrastructure when people are dealing with inflation by stating, âWell, Iâm not an economist. I donât know how these issues really work.â But people who
Dem Gov. Walz: ‘General Malaise’ Attached to Biden Due to Inflation, But Eggs Are Up Due to Bird Flu
On Thursdayâs broadcast of NBCâs âMTP Now,â Minnesota Gov. Tim Walz (D) stated that âprices are still up. So, thereâs kind of a general malaise that gets attached to the president.â But egg prices are up âbecause of bird flu, because of some of the things that have happened, and a president gets attached to
Inflation Reignites: Fed’s Favorite Inflation Gauge Shows Prices Rising Again
A key measure of inflation in the U.S. showed that prices climbed again in December, suggesting the respite from rising prices seen in the prior month was short-lived. The personal consumption expenditure price index rose 0.2 percent compared with the prior month, in line with expectations and an increase from the negative 0.1 percent reading
Twas the Season: Retail Sales Surge Higher Than Expected, Threatening to Ignite Inflation
American shoppers eagerly reached for their wallets and credit cards in December to spend far more than expected, figures from the Department of Commerce indicated Wednesday. Retail sales in the U.S. rose 0.6 percent compared with the previous month, far above the 0.2 percent forecast. Compared with a year ago, sales were up 5.6 percent.
Inflation Reignites: Consumer Prices Rose at a Faster Pace in December
Inflation accelerated more than expected in December, marking the thirty-third consecutive month with annual prices rising significantly faster than the two percent target seen as healthy by the Federal Reserve. The consumer-price index, the Labor Departmentâs broad measurement of what consumers pay for goods and services, rose 3.4 in December from a year earlier. Economists
Bidenomics in Crisis: Majority of Voters Say Biden’s Policies Will Make Inflation Worse
Most Americans think Joe Bidenâs policies will cause prices to rise, a poll of registered voters by CBS News and YouGov shows. As the U.S. economy approaches the third anniversary of the explosion of inflation that has sent the cost of living soaring and real wages plunging, a solid majority of registered voters think Bidenâs
Inflation Picks Up Slightly as Bidenflation Persists for 32nd Straight Month
Chip Somodevilla/Getty Images Inflation accelerated slightly in November, marking the thirty-second consecutive month with annual prices rising significantly faster than the two percent target seen as healthy by the Federal Reserve. The consumer-price index, the Labor Departmentâs broad measurement of what consumers pay for goods and services, rose 3.1 in November from a year earlier
Fed Holds Rates Steady, Expects Economic Growth, Hiring, and Inflation to Slow
Anna Moneymaker/Getty Images Federal Reserve officials voted to leave the central bankâs benchmark interest rate unchanged, saying that it expects tighter financial conditions will weigh on economic activity, hiring, and inflation. The Fed said on Wednesday that it would hold its benchmark rate at a range of 5.25 percent to 5.50 percent, the range it
PCE Inflation Cools To Slowest Pace in Two Years
Inflation continued to cool in June but remains above the Federal Reserveâs target. The personal consumption expenditures price index was up 0.2 percent compared with a month ago, a slight pickup in prices compared with the 0.1 percent increase in May. Compared with year ago, the PCE price index is up three percent. The Fed
UAW President: Companies Got Billions from Inflation Reduction Act, Workers Haven’t
On Mondayâs broadcast of CNNâs âThe Lead,â UAW President Shawn Fain talked about endorsing a candidate in the 2024 presidential contest and demands to the White House around guarantees for employees around electric vehicle provisions in the Inflation Reduction Act and stated that âitâs back to the same old story. When the corporations come to
Dem Rep. Slotkin: Inflation Hurting Auto Workers Helped Set the Scene for Auto Talks
On Thursdayâs broadcast of CNNâs âInside Politics,â Rep. and U.S. Senate candidate Elissa Slotkin (D-MI) stated that âthe scene for these negotiationsâ between automakers and the UAW was set by large profits for auto companies and the fact that âpeople who are working at those facilitiesâŚare struggling and have less money in their pockets because
Sanders: I Don’t Regret that Green Provisions in Inflation Reduction Act May Overrun Cost Estimate
On Thursdayâs broadcast of MSNBCâs âAll In,â Sen. Bernie Sanders (I-VT) said that he doesnât regret that the green provisions in the Inflation Reduction Act may end up exceeding their projected cost and âwe still have a long way to goâ on climate. Host Chris Hayes asked, âThe Inflation Reduction Act, thereâs something â thereâs
Axelrod: Biden’s Approval on Economy ‘Bad, Especially Relative to What He’s Achieved’ Due to Politics, Unease Largely ‘Driven by Inflation’Â
On Fridayâs broadcast of CNNâs âAC36src,â CNN Senior Political Commentator and former Obama Adviser David Axelrod stated that President Joe Bidenâs âeconomic approval numbers are actually quite bad, especially relative to what heâs achievedâ because of political polarization and a âsense of uneaseâ that is largely âdriven by inflationâ and also due to a âhangoverâ
CNBC: Majority of People Making $100K or More Say They’re Financially Stressed, Inflation Is Top Cause
On Tuesdayâs broadcast of CNBCâs âSquawk Box,â CNBC Senior Personal Finance Correspondent Sharon Epperson discussed CNBCâs Your Money Financial Confidence Survey that the network conducted with Momentive and noted that even a majority of people earning $100,000 or more say theyâre stressed about their personal finances and inflation is the top cause of this. Epperson stated