Page 15 - Us Inflation

Crypto extends tumble into weekend after US inflation data; Ether falls 5%

Total long crypto liquidations were above $100 mn for a third straight day on Sunday, after $258 mn on Friday and $290 mn on Saturday, according to data from Coinglass

Exxon made more money than god, says Biden, criticises high gasoline prices

President Joe Biden accused Exxon Mobil Corp. and other oil companies of exploiting high gasoline prices after a report showed inflation soaring to a new 40-year record

US inflation surges to 41-yr high of 8.6%; stocks fall sharply, crude dives

The faster-than-expected increase in inflation last month reported by the Labor Department on Friday also reflected a surge in rents, which increased by the most since 1990

Gas and food prices likely kept US inflation rate painfully high in May

The costs of gas, food and other necessities likely shot up in May, giving Americans no respite from the worst outbreak of inflation in four decades. Economists have forecast that overall consumer prices jumped 8.2 per cent last month compared with a year earlier, according to data provider FactSet. That would be barely below the 8.3 per cent year-over-year surge in April and the 8.5 per cent increase in March, which was the most since 1982. And on a month-to-month basis, prices are expected to have jumped 0.7 per cent from April to May, up sharply from a 0.3 per cent increase from March to April. The acceleration would almost certainly be due to gas prices, which had declined in April but leaped more than 10 per cent in May alone and have since reached an average of nearly USD 5 a gallon nationwide. America's rampant inflation is imposing severe financial pressures on families, forcing them to pay much more for such items as food, gas and rent and reducing their ability to afford

Gold investors cautious ahead of US inflation driving Fed Reserve policy

Gold Investors are looking cautiously into the US inflation data which will impact the US federal reserve's policy coming in soon

Sensex tanks 1,017 pts; Nifty holds 16,200; Bajaj Finance sinks 4%, RIL 3%

Stock market highlights: Over 35 Nifty stocks ended the session in the red with Bajaj Finance, HDFC, Kotak Bank, Hindalco, Wipro, Reliance Industries, Tech M, and Infosys falling between 2.5-4%

Gas and food prices likely kept US inflation painfully high in May

The costs of gas, food and other necessities likely shot up in May, giving Americans no respite from the worst outbreak of inflation in four decades

Gold prices dip on firm dollar, treasury yields; US inflation data in focus

Spot gold fell 0.1% to $1,850.10 per ounce by 1012 GMT, while U.S. gold futures were flat at $1,851.90

Treasury Secretary Janet Yellen expects US inflation to 'remain high'

Treasury Secretary Janet Yellen acknowledged that she and Fed chair Jerome Powell could have used a better word than transitory when describing the expected run of inflation in the US economy

US faces 'unacceptable levels of inflation': Yellen tells senators

US Treasury Secy said she saw bulk of inflation being caused by supply and demand mismatches, including excessive demand for goods over services during the pandemic and severe supply chain disruptions

Global stocks shaky as hawkish Reserve Bank of Australia heightens worries

Reserve Bank of Australia raised rates by most in 22 years and flagged more tightening to come as it battles to restrain surging inflation, driving a brief spike in the Aussie and hitting local shares

Dollar extends 20-yr high vs yen amid inflation jitters; Aussie slips

The dollar continued its overnight rally into Asian trading hours on Tuesday, hitting fresh two-decade highs versus the yen

US recession imminent and inevitable? Not if the Fed can thread the needle

"I still think we're going to navigate through without a recession. But obviously it's going to be very, very tight because risks are very high," Moody's Mark Zandi said

Asia shares brace for US inflation, euro gains on yen on ECB bets

Asian shares made a muted start as caution gripped ahead of a critical reading on US inflation, while the euro gained on the yen amid wagers the ECB will take a major step toward policy tightening

Some suppliers working with retailer to cut prices amid inflation: Walmart

Investors have questioned Walmart's ability to ask suppliers to offer price reductions when they too are focused on protecting margins in the face of inflation hovering at a four-decade high

Federal Reserve to shrink $8.9-trillion portfolio in war on inflation

President Biden meets Fed chair Powell, reiterates full support to rein in prices ­while simultaneously shifting the responsibility

Was 'wrong' about inflation path, says Yellen; Biden backs Fed's actions

US Treasury Secretary Janet Yellen said that she was wrong in the past about the path inflation would take, but said taming price hikes is President Joe Biden's top priority

Inflation zaps US savings rate, warning sign for consumer spending: Report

The personal savings rate, as a percentage of disposable income, fell to 4.4 per cent in April, the lowest level since 2008 in the US, according to the Commerce Department

Biden to meet Fed Chairman Powell as US inflation bites pocketbooks

Joe Biden is set to meet with Federal Reserve Chairman Jerome Powell as soaring inflation takes a bite out of Americans' pocketbooks

Equities rise, yields fall after data shows US inflation may have peaked

Consumer spending, which accounts for more than two-thirds of US economic activity, increased 0.9% last month, and although inflation continued to increase in April, it was less than in recent months