The early data is in for the path of inflation during the first three months of 2024, and the news so far is not good.
The higher than expected March CPI released on Wednesday freaked everyone out and got the markets convinced we will see fewer, if any, interest rate cuts this year. I have never been a Fed tea leaf reader, and am not about to change professions now, but it will be bad news if the Fed puts More
An inflation measure closely watched by the Federal Reserve rose faster than expected in March as high prices continue to weigh on millions of Americans. The personal consumption expenditures index showed that consumer prices rose 0.3% from the previous month, according to the Labor Department, in line with expectations. On an annual basis, prices climbed 2.7% – higher than both the 2.6% forecast from LSEG economists and the 2.5% reading recorded the previous month. In another sign that progress...
The sea should not be an arena where countries can flex their 'gunboat muscles,' says Zhang Youxia, vice chairman of the Central Military Commission and a close ally of President Xi Jinping
The CEO of cryptocurrency exchange, Binance, Richard Teng, yesterday said that the company is working very closely with Nigerian authorities following the detention of the company’s Head of Financial Crime Compliance.
Federal Reserve Chair Jerome Powell said Tuesday that the U.S. economy, while otherwise strong, has not seen inflation come back to the central bank’s goal, pointing to the further unlikelihood that interest rate cuts are in the offing anytime soon. Speaking to a policy forum focused on U.S.-Canada economic relations, Powell said that while inflation continues to make its way lower, it hasn’t moved quickly enough, and the current state of policy should remain intact. “More recent data shows...
Powell said that while inflation continues to make its way lower, the
Inflation remained stubbornly high last month, but it hasn’t stopped Americans from spending. The Personal Consumption Expenditures price index — a closely watched inflation gauge favored by the Federal Reserve — accelerated to 2.7% for the year ended in March, according to data released Friday by the Commerce Department. That rate was above economists’ expectations for a 2.6% gain and landed above February’s reading of 2.5%. On a monthly basis, prices rose 0.3%, unchanged from the pace seen in...
The pace of economic growth in the first three months of the year was far more sluggish than anyone expected—and inflation was much higher.
Story by David Beard, The Dominion Post MORGANTOWN, W.Va. — Federal officials came to the Richard Mine acid mine drainage treatment plant on Monday to announce the second round of Infrastructure Investment and Jobs Act funding for abandoned mine land reclamation in West Virginia. Last year, the state received $140 million, said Steve Feldgus, principal
On Thursday, the United Way of Monongalia and Preston Counties hosted a community gathering for food and feeding programs and public officials to network and develop strategies to better serve clients.
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed rate cuts until later this year, opening the door to a period of higher-for-longer interest rates. “Recent data have clearly not given us greater confidence” that inflation is coming under control” and instead indicate that it’s […]