inflation

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Fed 'Will Get on Top of This,' Says Bernanke Mentor

Scope 'far exceeds' that of previous crises

(Newser) - Ben Bernanke has the savvy to inject enough liquidity into the US economy to push it through the current credit crisis, says a leading economist who advised the Fed chief's MIT doctoral thesis. “The Fed will get on top of this,” said Stanley Fischer, ahead of this afternoon's...

Consumer Prices Flat in Feb.
 Consumer Prices Flat in Feb. 
Mar 14, 2008 8:41 AM CDT

Consumer Prices Flat in Feb.

Lack of increase means Fed has an open door to a big rate cute next week

(Newser) - Consumer prices were flat for February, pleasantly surprising economists who expected a 0.2% increase, reports the Wall Street Journal. This morning’s consumer price index eases concerns that inflation is accelerating as the economy slows, and it gives the Federal Reserve more reason to float a large interest rate...

Ruling Conservatives Should Fare Well in Iran Vote

Conservatives likely to gain in parliament as many reform candidates barred

(Newser) - Iranian conservatives are likely to gain seats in tomorrow's parliamentary elections despite Mahmoud Ahmadinejad's growing unpopularity, Al Jazeera reports. Iranians may disapprove of the president's economic policies, but the ruling Guardians Council barred 1,700 candidates—mainly reformists—from seeking election to the 290-seat parliament. Government officials and state-run media...

Gold Hits Record $1K per Ounce
 Gold Hits Record $1K per Ounce 
Mar 13, 2008 1:03 PM CDT

Gold Hits Record $1K per Ounce

Slumping US economy, dollar sends investors to shiny commodity

(Newser) - Gold hit $1,000 per ounce for the first time today, the BBC reports, as investors flock to commodities. The precious metal is already up 20% on the year. “Every bit of bad US economic data boosts gold in two ways,” said Fortis Bank, both because gold is...

$4 Gas Expected This Spring
$4 Gas Expected This Spring
Mar 12, 2008 4:40 AM CDT

$4 Gas Expected This Spring

Energy Department predicts gas prices to peak soon

(Newser) - Skyrocketing gas prices could hit $4 a gallon as early as this spring, predict government analysts. A new Energy Department report estimates prices will peak at close to $3.50 in most of the nation in May and June, but the $4 barrier could be broken in some regions, and...

Oil Flirts With Record-High $104
Oil Flirts With Record-High $104
Mar 3, 2008 11:45 AM CST

Oil Flirts With Record-High $104

Passes inflation-adjusted all-time peak

(Newser) - As oil soared to nearly $104 a barrel today, it set an all-time, inflation-adjusted record, surpassing even the height of the oil crises of the '70s and '80s, the New York Times reports. Futures touched $103.95 on the New York Mercantile Exchange, beating out the April 1980 record of...

Consumer Spending Stalls Again
Consumer Spending Stalls Again
Feb 29, 2008 12:03 PM CST

Consumer Spending Stalls Again

Confidence is falling as inflation rises

(Newser) - Consumer spending rose more than expected in January—but only because prices did so as well, Bloomberg reports. Adjusted for inflation, spending remained flat for the second straight month. With fuel costs rising, banks restricting loans, and property values falling, “consumers are clearly hard-pressed to maintain their standard of...

Stocks Tumble on Weak Data
Stocks Tumble on Weak Data
MARKETS
Feb 28, 2008 3:56 PM CST

Stocks Tumble on Weak Data

Dow drops 112 points on sluggish growth, rising jobless claims

(Newser) - Stocks fell more than they had in a week today amid reports of sluggish economic growth, rising jobless claims, and fears of failing banks, Bloomberg reports. The Dow fell 112.10 points to 12,582.18, the Nasdaq fell 22.21 points to 2,331.57, and the S&P...

Bernanke Signals New Rate Cuts
Bernanke Signals New Rate Cuts
Feb 27, 2008 9:15 AM CST

Bernanke Signals New Rate Cuts

Says central bank 'will act as needed' to further minimize economic risks

(Newser) - Federal Reserve Chairman Ben Bernanke today said that the board stands ready to cut interest rates again to give the economy "adequate insurance against downside risks," reports the Wall Street Journal. The move, which follows 2.25% in cuts to the key rate since September, is widely expected...

Wholesale Inflation Surges
Wholesale Inflation Surges
Feb 26, 2008 10:06 AM CST

Wholesale Inflation Surges

Producer prices lap analyst estimates

(Newser) - Wholesale prices rose more than twice as fast as analysts predicted in January, in the latest sign that inflation is outstripping growth, Bloomberg reports. After a 0.3% drop in December, finished good prices rose 1% last month, with the core indicator up 0.4%, its biggest gain in almost...

Zimbabwe's Inflation Rate Hits 100,000%

And that's just the official figure: in reality it's even worse

(Newser) - Zimbabwe's inflation rate is running at 100,000%, according to the government's statistics office—but that's not the worst news. Insane as that number may sound, it's probably an underestimation, writes the Telegraph. In Harare, where shelves are bare and money is being printed at breakneck speed, a single cigarette...

$100 Oil Fuels Recession Fears
$100 Oil Fuels Recession Fears
Feb 21, 2008 12:47 PM CST

$100 Oil Fuels Recession Fears

Speculation is driving oil up, and that's a concern for consumers, economists

(Newser) - Oil prices have jumped 16% in two weeks, and analysts tell the Christian Science Monitor the run-up couldn't come at a worse time. As the US economy flirts with recession, beleaguered consumers could end up spending their economic stimulus checks to cover even higher gas prices. The $101.32 per...

Fed Sees Slower Growth, Higher Unemployment

Reserve officials sharply reduce economic forecast

(Newser) - The Federal Reserve issued a bleak assessment of the economy today, predicting weak growth and rising unemployment this year. Fed officials expect the economy to grow between 1.3% and 2% in 2008, the slowest in five years, the New York Times reports. A separate report today showed consumer prices...

Market Up After Seesaw Session
Market Up After Seesaw Session
MARKETS
Feb 20, 2008 3:45 PM CST

Market Up After Seesaw Session

Investors shrug off inflation; sluggish growth seen

(Newser) - The Dow rose 90.04 points to 12,427.26 today in roller-coaster trading despite rising fears of inflation, MarketWatch reports. US consumer prices rose 0.4% last month in what one investment officer called “a nagging problem for the Fed.” The Nasdaq climbed 20.90 to 2,...

Inflation Spikes, Cut in Jeopardy
Inflation Spikes, Cut in Jeopardy
Feb 20, 2008 9:04 AM CST

Inflation Spikes, Cut in Jeopardy

Fed may have hands tied, as CPI soars past expectations

(Newser) - Core inflation bounded ahead of expectations in January, which is bad news for anyone betting on a big rate cut from the Fed–and for the Fed itself. The consumer price index rose 0.4%, with core CPI rising 0.3%, putting the year-over-year figures at 4.3% and 2....

Fed Battles to Balance Rate Cuts, Inflation

Officials fret over steep drop hampering possible recovery

(Newser) - Inflation worries have some Fed officials hinting that interest-rate cuts may slow down, sparking concerns among investors who expect the central bank to trim rates 75 more basis points at its March 18 meeting, reports the Wall Street Journal. Rates have been reduced 2.25% since September—to 3%--in an...

Rally Fizzles on Inflation Fears
Rally Fizzles on Inflation Fears
MARKETS
Feb 6, 2008 3:26 PM CST

Rally Fizzles on Inflation Fears

Comments by Fed official dampen spirits

(Newser) - An early rally fizzled late over inflation fears, and stocks ended down today. The Philly Fed chief raised inflation worries when he said the Fed had to concentrate on "price stability" when considering future rate cuts, the Wall Street Journal reports. The Dow fell 65.03 to 12,200....

China Exports Inflation to US
China Exports Inflation to US
Feb 1, 2008 1:35 PM CST

China Exports Inflation to US

Coinciding factors exert upward pressure on prices

(Newser) - After years of pumping out cheap consumer goods, China is driving up American price tags, the New York Times reports. As costs rise domestically, prices down the supply chain rise at the same time that recession threatens in the US. “China has been the world’s factory,” said...

Unrest in Financial World Gives Gold a New Luster

Investors looking for safe haven have driven futures up 42% since Aug.

(Newser) - Mainstream investors looking for a hedge against inflation and a volatile stock market have taken a shine to gold, driving prices for the precious metal to historic highs, the Wall Street Journal reports. Gold futures have risen more than 42% since mid-August. The latest Fed interest-rate cut bumped prices in...

China Storms Wallop Winter Crops
China Storms Wallop
Winter Crops
Jan 31, 2008 6:05 AM CST

China Storms Wallop Winter Crops

Worst storms in 50 years wreak 'catastrophic' impact on food supply

(Newser) - Winter storms battering China have hit crops hard, the AP reports. "The impact on fresh vegetables and on fruit in some places has been catastrophic," said a Communist Party official, who added that emergency plans were in place to ensure a food supply to people and protect what...

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