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 Chairman Thomas Barkin said Friday that further interest rate hikes will be needed to ease price pressures. This week’s releases showing that consumer and wholesale price increases eased in July were “very welcome,” Barkin told CNBC’s “Squawk on the Street” in a live interview. “So we’re … Read more

Economy contracts by 0.1% in second quarter

Economy contracts by 0.1% in second quarter

Shoppers walk in the rain on Oxford Street in London. Tolga Akmen/AFP/Getty Images Britain’s economy shrank in the second quarter of 2022 as the country’s cost of living crisis hit home. Official figures released on Thursday showed gross domestic product (GDP) contracted 0.1% quarter on quarter in the second quarter of the year, less than … Read more

‘We became a cheap day care center for teenagers’

'We became a cheap day care center for teenagers'

Six Flags revealed that it had lost nearly 2 million customers over the past year – a drop due in part to an initiative to weed out “rowdy teenagers,” according to the company’s CEO. Shares of the Arlington, Texas-based theme park fell 18% to $21.12 on Thursday after it revealed attendance at its 27 parks … Read more

Wage inflation, used car prices could jump higher: Jim Bianco

Wage inflation, used car prices could jump higher: Jim Bianco

Washington’s efforts to rein in inflation will particularly fail this year, according to market forecaster Jim Bianco. And, he thinks this week’s key inflation data will help prove it. “I don’t see anything that could reduce the rate of inflation. There are some things that could reduce prescription drug prices and maybe a few other … Read more

Consumers’ expectations of future inflation decreased significantly in win for the Federal Reserve

Consumers' expectations of future inflation decreased significantly in win for the Federal Reserve

Gas prices are displayed at an Exxon gas station on July 29, 2022 in Houston, Texas. Brandon Bell | Getty Images The outlook for consumer inflation fell significantly in July amid sharp declines in gasoline prices and growing belief that rapid increases in food and housing would also decline in the future. The New York … Read more

Treasury yields in focus after strong jobs growth data

Treasury yields in focus after strong jobs growth data

U.S. Treasury yields fell on Monday after surprisingly strong jobs data raised the likelihood of aggressive rate hikes by the Federal Reserve. The yield on the benchmark 10-year Treasury fell 4 basis points to around 2.7993%, while the yield on the 30-year Treasury fell 2 basis points to 3.0383%. Yields move inversely to prices and … Read more

Era of steady growth has ended, but here’s how to prepare

Era of steady growth has ended, but here's how to prepare

BlackRock says global markets have become more volatile and will remain so for some time. The world’s largest asset manager says the era of steady growth and low inflation is over: “We believe that traditional portfolios, hedges and risk models will no longer work.” “The Great Moderation, a long period of steady growth and low … Read more

Fed Governor Bowman sees ‘similarly sized’ rate hikes ahead after three-quarter point moves

Fed Governor Bowman sees 'similarly sized' rate hikes ahead after three-quarter point moves

Federal Reserve Bank Governor Michelle Bowman delivers her first public address as a federal policymaker at an American Bankers Association conference in San Diego, California, February 11, 2019. Anne Sapphire | Reuters Federal Reserve Governor Michelle Bowman said on Saturday she supported the central bank’s recent large interest rate hikes and believed they would continue … Read more

Walmart cuts hundreds of corporate jobs after warnings of falling profits

Walmart cuts hundreds of corporate jobs after warnings of falling profits

Retail giant Walmart is laying off around 200 company employees, a source familiar with the matter told The Hill on Wednesday, a week after it reported inflation was affecting its overall profits. The layoffs come as consumer confidence declines and inflation hits record highs. Rising food and fuel costs “affect customers’ ability to spend in … Read more

Bank of England set for biggest rate hike in 27 years as inflation soars

Bank of England set for biggest rate hike in 27 years as inflation soars

LONDON, February 03: Bank of England Governor Andrew Bailey leaves after a press conference at the Bank of England on February 3, 2022 in London, England. The Bank is expected to raise interest rates for a fifth straight meeting on Thursday, but faces a difficult balancing act between supporting growth and curbing inflation. Dan Kitwood … Read more