inflation

Janet Yellen says Fed needs ‘skill’ and ‘good luck’ to avoid recession – and warns it’s a ‘concern’

Janet Yellen warns the Fed will ‘need great skill’ and ‘some good luck’ to avoid recession: Treasury Secretary admits economic downturn and higher gas prices in winter are a ‘RISK’ despite her multi-state victory tour for Biden Treasury Secretary Janet Yellen has for months sought to strike an optimistic tone about the economy even as …

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As small businesses raise prices, some customers push back

NEW YORK (AP) — Inflation isn’t only costing small businesses money. It’s costing them customers as well. At the Bushwick Grind Cafe in Brooklyn, New York, Kymme Williams-Davis has raised prices and switched to different types of goods to keep up with the rising costs of milk, coffee, paper goods and plastic, as well as …

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Fed Governor Christopher Waller warns THIRD consecutive .75% interest rate is imminent

The governor of the Federal Reserve said he’s in favor of another ‘significant’ increase in interest rates for a third consecutive month, in a move that will further spike mortgage repayments for inflation-battered Americans. Christopher Waller backed the central bank in making what’s known as a 75 basis-point move, or a .75 percent increase, during …

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Foreclosure concerns grow in housing market

SOUTHFIELD, Mich. (WXYZ) — From Farmington Hills to Ferndale, homeowners are expressing worry over rising interest rates and anticipated falling prices that could soon be creating a troubling scenario. Hairstylist Jayme McNeil is among those watching the situation closely. “I hope for the best and plan for the worst,” says McNeil who bought a home …

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Weak inflation will be key to a sustainable gold rally above $1,750

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – Some optimism is creeping back into the gold market as prices end the week in neutral territory, bouncing …

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Americans’ view of business sector hits 14-year low

Americans’ opinion of businesses plunged this year amid historic inflation, according to a Gallup poll released Friday. The survey found that 36 percent of Americans have a positive view of businesses, down from 45 percent before the pandemic. That’s the lowest mark since the Great Recession in 2008. The sour mood appears to stem from …

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Mortgage rates hit their highest level in 14 years at 5.89%

Average mortgage rates in the US have risen to their highest level in 14 years, edging closer to 6 percent as it becomes clear to investors that the Federal Reserve will continue its aggressive policy rate hikes to combat inflation. The average rate on a 30-year fixed jumped to 5.89 percent this week, topping June’s …

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August consumer inflation report could test market rally in week ahead

Stocks could continue their march higher at the start of the coming week, as investors await an important report Tuesday on consumer inflation. The consumer price index for August is one of a number of reports on a busy economic calendar in the week ahead, but it is the one final data points that market …

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