Fed official signals willingness to hike interest rates full percentage point

Fed official signals willingness to hike interest rates full percentage point

This post was originally published on this site US Federal Reserve Governor Christopher Waller signaled Thursday he may support a full percentage point interest rate hike this month — the biggest increase in more than 30 years and a further indication of the central bank’s determination to crush sky-high inflation....

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Manchin: Inflation ‘now poses a clear and present danger to our economy’

Manchin: Inflation ‘now poses a clear and present danger to our economy’

This post was originally published on this site  window.loadAnvato({“mcp”:”LIN”,”width”:”100%”,”height”:”100%”,”video”:”7831197″,”autoplay”:false,”expect_preroll”:true,”pInstance”:”p1″,”plugins”:{“comscore”:{“clientId”:”6036439″,”c3″:”thehill.com”,”version”:”5.2.0″,”useDerivedMetadata”:true,”mapping”:{“c3″:”thehill.com”,”ns_st_st”:”hill”,”ns_st_pu”:”Nexstar”,”ns_st_ge”:”Hill.TV”,”cs_ucfr”:””}},”dfp”:{“adTagUrl”:”https://pubads.g.doubleclick.net/gampad/ads?sz=1×1000&iu=/5678/nx.thehill/policy/finance/landing&ciu_szs=300×250&impl=s&gdfp_req=1&env=vp&output=vmap&unviewed_position_start=1&ad_rule=1&description_url=https://thehill.com/policy/finance/feed/&cust_params=vid%3D7831197%26pers_cid%3Dunknown%26vidcat%3D/policy/finance%26bob_ck%3D%26d_code%3D1%26pagetype%3Dsubindex%26hlmeta%3Dpolicy__finance”},”segmentCustom”:{“script”:”https://segment.psg.nexstardigital.net/anvato.js”,”writeKey”:”7pQqdpSKE8rc12w83fBiAoQVD4llInQJ”,”pluginsLoadingTimeout”:12}},”expectPrerollTimeout”:8,”accessKey”:”q261XAmOMdqqRf1p7eCo7IYmO1kyPmMB”,”token”:”eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJ2aWQiOiI3ODMxMTk3IiwiaXNzIjoicTI2MVhBbU9NZHFxUmYxcDdlQ283SVltTzFreVBtTUIiLCJleHAiOjE2NTc3MjkyNjF9.AQD-apOeGZetAc6AD7UtnFlIU4tHemBDO_tGCsbaH9A”,”nxs”:{“mp4Url”:”https://tkx.mp.lura.live/rest/v2/mcp/video/7831197?anvack=q261XAmOMdqqRf1p7eCo7IYmO1kyPmMB&token=%7E6SC6cJIOakS5Py9SY1akX7loGseZvo70MQ%3D%3D”,”enableFloatingPlayer”:true},”disableMutedAutoplay”:false,”recommendations”:true,”expectPreroll”:true,”titleVisible”:true,”pauseOnClick”:true,”trackTimePeriod”:60,”isPermutiveEnabled”:true}); Centrist Sen. Joe Manchin (D-W.Va.) on Wednesday sounded the alarm after the latest inflation report showed a 9.1 percent jump in prices over the past year, saying that the skyrocketing costs now pose “a clear and present danger to our economy.”...

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June inflation data expected to stay hot amid high gas prices

June inflation data expected to stay hot amid high gas prices

This post was originally published on this siteJune inflation data remained hot amid higher gas and energy prices.

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Fed’s Inflation Dashboard Puts More Weight on Volatile Energy, Food Prices

Fed’s Inflation Dashboard Puts More Weight on Volatile Energy, Food Prices

This post was originally published on this siteConcerns that consumers could begin to expect higher inflation to last longer spur a more aggressive rate-rise path.

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Corporations’ thirst for profits isn’t to blame for inflation, economists say

Corporations’ thirst for profits isn’t to blame for inflation, economists say

This post was originally published on this siteThere’s growing agreement among economists that companies have become more powerful and more profitable over the past several decades — a fact they say pokes a hole in some lawmakers’ arguments that greed for profits is what’s behind spiking inflation. The logic among...

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Consumers’ Inflation Psychology  Worries Fed

Consumers’ Inflation Psychology Worries Fed

This post was originally published on this siteFederal Reserve officials have indicated they accept the risks of causing a recession because they are determined to prevent something they view as worse: a change in consumer psychology that could sustain high inflation.

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Congressional pay just reached its lowest inflation-adjusted level since 1955

Congressional pay just reached its lowest inflation-adjusted level since 1955

This post was originally published on this siteImage: GovTrack Insider If Sarah Palin wins her election to Alaska’s U.S. House seat this November, she will earn less money in Congress than she does recording personalized videos on Cameo. The former Alaska governor and 2008 Republican vice presidential nominee charges $199 to record...

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The US Economy Is Headed for a Hard Landing

The US Economy Is Headed for a Hard Landing

This post was originally published on this siteA recession is coming within 12 to 18 months as the Fed focuses on curbing inflation.

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President Biden wants a gas tax holiday. Some economists say that’s a bad idea

President Biden wants a gas tax holiday. Some economists say that’s a bad idea

This post was originally published on this siteInflation is the top issue for voters as fall’s midterm elections near. Biden wants Congress to suspend the gas tax until the end of September in a bid to give consumers some relief.

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Economists look past the Fed to fight inflation

Economists look past the Fed to fight inflation

This post was originally published on this siteEconomists are looking beyond the Federal Reserve and thinking outside the box of monetary policy for ideas on how to fight inflation. With gas prices soaring, they are focusing largely — though not exclusively — on the energy industry and are increasingly coming...

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