inflation

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Thanks for Nothing: Pecan Prices Up 22%

Blame China, droughts for soaring cost of Thanksgiving staple

(Newser) - For those who can't face Thanksgiving without pecan pie, you're going to pay dearly for the privilege this year: the price tag on the tasty dessert is up by 22%, reports CNN . Sure, core inflation is a low 2% , but food prices are on the rise, and pecans...

2 Americans Win Nobel Prize in Economics

Thomas Sargent, Christopher Sims studied effects of tax cuts, interest rate hikes

(Newser) - Americans Thomas Sargent and Christopher Sims won the Nobel economics prize today "for their empirical research on cause and effect in the macroeconomy," the Royal Swedish Academy of Sciences announced. The prize committee said the winners have developed methods for answering questions such as how economic growth and...

The Hidden Inflation Crisis: ‘Let Them Eat iPads’

Government won't even acknowledge that inflation is an issue: Ken Kurson

(Newser) - America is facing an inflation crisis, and there’s nothing it can do—because the government won’t acknowledge the problem, writes Ken Kurson of Esquire , in a piece entitled “Let Them Eat iPads.” Why the title? Well, last month some poor soul confronted New York Fed Chairman...

Consumer Spending Up... Thanks to Gas Prices

Personal income up 0.3%, but inflation hits hard

(Newser) - Consumer spending rose at its fastest rate in four months in February—but that’s in large part due to rising gas prices. Consumer spending climbed 0.7%, while personal income rose 0.3% following January’s 1.2% jump, the AP notes. Both gains reflected a Social Security tax...

China Jacks Up Interest Rates
 China Jacks Up Interest Rates 
Feb 8, 2011 5:55 AM CST

China Jacks Up Interest Rates

Country trying to slow down runaway growth, inflation

(Newser) - China pumped up its interest rates for the third time in four months today, in a desperate attempt to rein in inflation. One-year deposit rates rose to 3%, and the one-year lending rate to 6.06%, the New York Times reports, and analysts expect still more increases down the road.

Davos Brimming With Optimism for 'New Reality'

But rising food prices, political uncertainty are cause for concern

(Newser) - The Davos World Economic Forum is an optimistic place this year—the theme is “Shared Norms for the New Reality,” meaning the post-financial-crisis reality. In a poll, 48% of the assembled CEOs said they were “very confident” of growth in the next 12 months, according to the...

Mighty China Has a Financial Mess Brewing
Mighty China Has a Financial Mess Brewing
Paul Krugman
Jan 21, 2011 12:41 PM CST

Mighty China Has a Financial Mess Brewing

Paul Krugman: Its leaders look lost dealing with it, like ours

(Newser) - China may be a burgeoning economic superpower, but it’s also embroiled in a monetary fiasco that could turn into a genuine crisis, warns Paul Krugman in the New York Times . The problem is China’s refusal to let its currency rise. The policy has obviously vexed the US, “...

Glenn Beck's Advice: Sell Your Stuff!

Prices are rising, and you should be prepared, he warns

(Newser) - Now that Glenn Beck has convinced you to buy gold , he has a new directive: Sell all your stuff. Prices are going up, he said last night, and a study shows that the average American has $25,000 worth of things they're not using, Mediaite reports. So sell it, and...

Inflation Begins Creeping Into Food Prices

Chains, retailers struggling with how much consumers can take

(Newser) - Despite low overall inflation, the price of basic foods is rising, presenting food companies with a dilemma: do they let rising costs erode profits, or raise prices while demand remains weak? Milk, beef, coffee, and sugar have all seen price spikes, driven by growing demand in China, India, and developing...

China: Feeble Dollar Is Hurting Our Economy

'Out of control' printing of dollars is triggering inflation, says minister

(Newser) - China has countered American anger over its artificially low currency with a complaint of its own. America is printing dollars at an "out of control" rate, sending up commodity prices around the world and saddling China with "imported inflation," the country's commerce minister grouses. Inflation in China—...

Social Security Won't Get Boost in 2011

Lack of increase sets Dems up for more punishment at ballot box

(Newser) - It looks like there will be no increase in Social Security benefits for the second year in a row. The bureau plans to announce this week that inflation hasn't been high enough this year to merit a cost-of-living increase. America's 58 million Social Security recipients haven't had a raise since...

French Pol Confuses Inflation With Fellatio

Rachida Dati makes fumble on the radio

(Newser) - Paging Mrs. Malaprop: French politician Rachida Dati confused business with, ahem, pleasure yesterday during a radio interview. When asked about profiteering by overseas investment funds, she said, "I see some of them looking for returns of 20 or 25%, at a time when fellatio is almost non-existent." The...

Krugman: We're Not Bouncing Back

'Policy-makers are in denial'

(Newser) - You know that recovery officials promise is underway? It's not happening, scoffs Paul Krugman, and he blames federal officials' reluctance to take responsibility. "This isn’t a recovery, in any sense that matters. And policy-makers should be doing everything they can to change that fact," he writes in...

Fed to Meet as Economy Sputters

Central bank expected to tackle deflation danger

(Newser) - The Federal Reserve meets today to decide what medicine the wheezing American economy needs, and world markets will be keenly watching for the outcome. With no new stimulus spending from Congress likely, the central bank is the only body poised to react to signs that the recovery is running out...

US Economy Needs Less Caution, More Spending
US Economy Needs Less Caution, More Spending
Paul Krugman
May 21, 2010 11:34 AM CDT

US Economy Needs Less Caution, More Spending

Forget deficit; fret over threat of 'lost decade'

(Newser) - No matter what you've heard panicked commentators say, the US is not the next Greece, and the government is not trying to do or spend too much in the face of the slumping economy. In reality, Washington isn't doing or spending enough, and as a result, the US could be...

Fed Holds Rates at Record Lows

Bernanke & Co. want to keep driving recovery

(Newser) - The Federal Reserve is sounding a more confident note that the economy is strengthening and pledges to hold rates at record lows to make sure it gains even more traction. Wrapping up a two-day meeting today, the Fed in a 9-1 decision retained its pledge to hold rates at historic...

Kiss Cheap Credit Goodbye
 Kiss Cheap Credit Goodbye 
Apr 11, 2010 7:32 AM CDT

Kiss Cheap Credit Goodbye

For those who can't remember 1981, rates are headed up

(Newser) - There's a generation of consumers out there that can't fathom 8% interest, much less 1981's peak of 18.2%, but the days of free or cheap money are coming to a rapid close. With national debt ballooning, inflation looming, and government props that suppressed interest rates ending, the cost of...

'Inflation Hawks' Will Kill Our Recovery
'Inflation Hawks' Will Kill
Our Recovery
paul krugman
Apr 9, 2010 9:22 AM CDT

'Inflation Hawks' Will Kill Our Recovery

Beware the 'tight-money people' who fear short-term spending

(Newser) - Paul Krugman assesses the economic mess in Greece and sees "no good answers" for them but an important lesson for America. Namely, "steer clear of deflation," a horrible process that Greece must now endure because it's stuck with the euro. We don't have that problem, so let's...

Bernanke: Interest Rates May Rise

Fed chair leaves door open, but emphasizes reform

(Newser) - Ben Bernanke today left the door open to higher interest rates, saying the increase might be needed to prevent new speculative investment bubbles from forming. But for critics who blame the Fed for feeding that speculative housing boom by holding interest rates too low for too long after the 2001...

Obama's Stealth Stimulus: $250 Checks to Seniors

With social security stagnant, Obama proposes payment to elderly

(Newser) - Seniors won’t be getting a boost in their Social Security benefits this January, but President Obama tried to head off that announcement yesterday by encouraging Congress to give them all a one-time $250 check. The administration sees these payments, which would cost the government about $13 billion, as another...

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