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Jay Powell says US inflation ‘taking longer than expected’ to hit target: Comments from Federal Reserve chair come amid mounting doubts about pace of interest ...
ft.com/content/3d0ddbe1-4637-4262-ba40-934015606166
How California fast food restaurants raised menu prices in response to $20 minimum wage
nypost.com/2024/04/16/business/california-fast-food-restaurants-raised-prices-due-to-minimum-wage/
America’s interest rates are unlikely to fall this year: That will squeeze financial markets and the world economy
economist.com/leaders/2024/04/17/americas-interest-rates-are-unlikely-to-fall-this-year
Business defaults soar as Australian house prices outpace the globe: Australian house prices are out-performing most of the world, even after inflation ...
smh.com.au/politics/federal/business-defaults-soar-as-australian-house-prices-outpace-the-globe-20240416-p5fk42.html
Ringgit opens higher despite greenback strength: KUALA LUMPUR: The ringgit opened higher against the US dollar today although the greenback’s appeal as a ...
thestar.com.my/business/business-news/2024/04/17/ringgit-opens-higher-despite-greenback-strength
The shadow of war darkens on the global economy: Short-term performance has been surprisingly good but policymakers are walking on eggshells
ft.com/content/31158ec7-433b-4c0e-9f2e-8a13e8dd4750
Senate dismisses Mayorkas impeachment without trial: The Senate voted Wednesday to dismiss two articles of impeachment against Homeland Security Secretary ...
thehill.com/homenews/senate/4600362-mayorkas-impeachment-dismissed-trial/
Quick Glance: Senate's Decision on Impeachment Charges Against Mayorkas
- The Senate rejected the impeachment charges against Homeland Security Secretary Alejandro Mayorkas, halting the House Republicans' effort to impeach the Cabinet secretary over his management of the US-Mexico border.
- With Democrats contending that the articles were unconstitutional, senators voted to dismiss both impeachment charges and conclude the trial.
- Senate Republicans had called for a full impeachment trial after the House narrowly voted in February to impeach Mayorkas for his border actions.
- Republicans argued that President Joe Biden was ineffective at the border, while Democrats suggested accepting a bipartisan Senate compromise instead of impeaching Mayorkas to reduce illegal immigrants.
US deficit poses ‘significant risks’ to global economy, warns IMF: Fund also cites concerns over fiscal ‘imbalances’ in UK, China and Italy
ft.com/content/0d098011-0ff5-4125-8cbb-5a5b281c9bd0
Quick Glance: IMF Warns of Fiscal Deficits in US and China
- The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy.
- Concerns were also raised about Chinese government debt, with the country projected to have a deficit of 7.6 per cent in 2025, more than double the average for other emerging markets.
- In addition to the US and China, the fund named two more countries that “critically need to take policy action to address fundamental imbalances between spending and revenues”.
- The IMF noted that “large and sudden increases” in US borrowing costs typically lead to surges in government bond yields globally and exchange rate turbulence in emerging markets and developing economies.
UK inflation falls as crumpet and meat prices drop: New official figures show that inflation, the rate at which prices rise over time, fell again in March.
bbc.com/news/business-68833077
Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
House Republicans subpoena Mayorkas over migrant numbers: House Judiciary Committee Republicans subpoenaed Homeland Security Secretary Alejandro Mayorkas shortly ...
thehill.com/homenews/house/4601171-house-republicans-subpoena-mayorkas-over-migrant-numbers/
US to grow at double the rate of G7 peers this year, says IMF: Fund also upgrades inflation forecasts as strong demand and tight labour market delay possible Fed ...
ft.com/content/3b819571-662d-4185-9ca5-c7e682b55700
Quick Glance: IMF upgrades global growth forecast despite risks
- The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.
- IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.
- While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.
- Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.
Brazil seeks to weaken fiscal targets it set only a year ago: Leftist administration of Luiz Inácio Lula da Silva wants greater flexibility on budget surplus ...
ft.com/content/14e6a4d4-8be7-46cf-bb51-8445b0e85dc1
Quick Glance: Brazil Moves to Relax Fiscal Targets Set a Year Ago
- The leftist administration of Luiz Inácio Lula da Silva wants more flexibility on budget surplus goals
- Brazilian President Luiz Inácio Lula da Silva’s government is seeking to loosen its own budget targets as investor concerns rise about the risk of fiscal slippage in Latin America’s largest economy
- Ministers intend to balance the budget next year, replacing the previous goal for income to exceed outgoings by 0.5 per cent of gross domestic product
- Analysts warn that the current deficit targets are unrealistic and likely to be tweaked, prompting investors to express concerns about Brazil’s economic approach under Lula
Here are the first 7 jurors picked to serve on Trump’s hush money trial: NEW YORK — Seven New Yorkers have so far been picked to serve as jurors on former ...
thehill.com/regulation/court-battles/4598403-here-are-the-first-7-jurors-picked-to-serve-on-trumps-hush-money-trial/
China: Economy outperforms first quarter forecasts: Strong performance in the manufacturing sector as well as new infrastructure projects helped China's ...
dw.com/en/china-economy-outperforms-first-quarter-forecasts/a-68835129
UK Jobs and Pay Data Poses a Dilemma for the Bank of England: Sticky wages and falling vacancies don’t make the Bank of England’s life any easier.
bloomberg.com/news/newsletters/2024-04-16/uk-jobs-and-pay-data-poses-a-dilemma-for-the-bank-of-england
Consumer spending shoots up on higher prices amid declining sales in retail sector
standardmedia.co.ke/enterprise/article/2001493354/consumer-spending-shoots-up-on-higher-prices
International Monetary Fund: Germany in last place among industrialized nations (again)
spiegel.de/wirtschaft/unternehmen/konjunktur-deutschland-auf-dem-letzten-platz-der-industrienationen-schon-wieder-a-49d8a54b-1dbe-4406-a72b-604e1115b2b4
Xi Jinping says China’s exports are helping ease global inflation: Chinese president warns German Chancellor Olaf Scholz against ‘rise of protectionism’
ft.com/content/7cc89622-66a7-4b1c-9b2e-138f121a4731
Why child care costs are soaring: Wages in the industry have risen fast in the last few years — but they're still pretty low.
axios.com/2024/04/16/child-care-costs
Is It Time To Buy Gold Stocks And ETFs As Gold Futures Hit A High? Here's What Charts Show
investors.com/research/gld-stock-a-buy-right-now-heres-what-charts-show-2/
Concern for Bank of England as real earnings growth at highest rate since 2021: While the wage figures are good news for households on the face of it ...
news.sky.com/story/real-earnings-growth-at-its-highest-rate-in-nearly-two-and-a-half-years-13116319
Quick Glance: Rising Real Earnings Growth Raises Concerns at Bank of England
- An unexpectedly weaker decline in the pace of wage increases has led to real earnings growth reaching its highest level in nearly two and a half years when considering inflation, according to the latest official data.
- Recent official figures indicate that average regular pay without bonuses was at 6% in the three months to February compared to the previous year.
- The broader ONS statistics revealed an increase in the UK's unemployment rate from 3.9% to 4.2%, with caution due to ongoing efforts to enhance the reliability of employment data.
- The forthcoming inflation data expected on Wednesday is likely to demonstrate further progress towards the Bank's objectives and the potential for a decrease from the current 5.25% interest rate.
UK facing food shortages and price rises after extreme weather: Heavy rain likely to cause low yields in Britain and other parts of Europe ...
theguardian.com/environment/2024/apr/16/uk-facing-food-shortages-and-price-rises-after-extreme-weather
Mehdi Hasan Launches Media Platform With Naomi Klein, Greta Thunberg, and More: The journalist says Zeteo will feature "hard-hitting interviews and unsparing ...
commondreams.org/news/mehdi-hasan-msnbc
“McCarthyism Is Real”: Hobart and William Smith Colleges Suspend Prof. for Defending Palestinians
democracynow.org/2024/4/15/headlines/mccarthyism_is_real_hobart_and_william_smith_colleges_suspend_prof_for_defending_palestinians
Va. farmers find new egg market after Tyson Foods shut down Glen Allen plant: When Tyson Foods shut a Virginia plant, farmers had to scramble to find a new ...
richmond.com/news/state-regional/business/va-farmers-find-new-egg-market-after-tyson-foods-shut-down-glen-allen-plant/article_3de69e52-f2b2-11ee-bb58-e7a3b0580704.html
Services sector index drops to weakest in more than two years: The key sector makes up about two-thirds of the economy, and had earlier shown reasonable rebound.
rnz.co.nz/news/business/514292/services-sector-index-drops-to-weakest-in-more-than-two-years
Earth has its warmest March on record, beating 2023's milestone: Global average temperatures are running hotter than last year, which was the globe's ...
axios.com/2024/04/09/hottest-march-global-warming
Joe Biden’s approval rating on the economy is rising among US voters: FT-Michigan Ross poll finds president’s gains could be derailed by persistent fears over ...
ft.com/content/bdd37729-8225-4f52-ae88-a7edeb329bb5
Biden's new take on inflation: Trump would be worse: Biden's team knows there's not a lot it can do to lower it before the Nov. 5 election.
axios.com/2024/04/13/biden-trump-inflation-worse-tariffs
Quick Glance: Biden's New Perspective on Inflation: Trump Would Be Worse
- The White House warns that inflation would worsen if Trump is re-elected as a strategy to sway voters.
- March's inflation increase surpassed expectations, undermining Biden's claim of lowering prices.
- Rising oil prices due to geopolitical tensions could lead to higher gas prices, a concern for the White House.
- Biden emphasizes fighting inflation as top priority while experts debate the impact of his economic stimulus packages.
US and India stoke hopes of global growth in 2024 : FT-Brookings Tiger index shows ‘positive omens’ for modest pick-up compared with last year
ft.com/content/7d1199bb-8283-49c3-801e-249938bcbae8
Basic tax-free allowance: 244,000 pensioners do not have to pay taxes: The basic tax-free allowance was increased at the turn of the year to compensate for ...
zdf.de/nachrichten/wirtschaft/rentner-deutschland-steuern-grundfreibetrag-100.html
What the key interest rates mean for savers: Inflation is falling - the ECB is heading for a possible first interest rate cut. Consumers could already be feeling ...
zdf.de/nachrichten/wirtschaft/ezb-leitzinsen-banken-sparer-kredite-100.html
California restaurant will up wages to compete with $20 fast-food pay: "Why wash dishes for $15 or $17 if I can go get $20 flipping burgers at McDonald's ...
businessinsider.com/california-fast-food-20-minimum-wage-restaurant-raise-pay-compete-2024-4
Quick Glance: California eateries adjust wages to meet competition with $20 fast-food pay
- A restaurant owner in California plans to raise wages to compete with the $20 per hour pay for fast-food workers.
- Legislation is expected to drive up wages in various sectors as they strive to attract and retain employees.
- The increased minimum wages worsen the existing challenges faced by independent restaurants in California.
- Implementing price changes, cost-cutting strategies, and reduced operating hours could be potential measures to streamline operations.
March's inflation data had good and bad news about food: It's getting increasingly cheaper to eat at home.
axios.com/2024/04/10/march-cpi-food-inflation
Here are the tax brackets to file your 2023 taxes: The tax brackets for Americans will shift upward for tax year 2023, following a series of rule adjustments to ...
thehill.com/business/4595268-here-are-the-tax-brackets-to-file-your-2023-taxes/
Gold is back — and it has a message for us: The precious metal’s surge may herald a whole new world
ft.com/content/bdcb7d8a-e958-4910-9d1b-a6a519812503
The Forever Stamp is forever rising in price. How does the U.S. cost compare globally?
npr.org/2024/04/12/1244273973/forever-stamp-cost-price-going-up-usps-postage
Hispanic students account for vast majority of growth in degree completion: Hispanic students accounted for the vast majority of the growth in the number of ...
thehill.com/homenews/education/4582663-hispanic-students-account-for-vast-majority-of-growth-in-degree-completion/
Wall St Week Ahead Surging US energy shares reflect robust growth, inflation worries
reuters.com/markets/us/wall-st-week-ahead-surging-us-energy-shares-reflect-robust-growth-inflation-2024-04-12/
Did your car insurance rate go up a lot even though you don’t drive much?: Drivers nationwide are facing the biggest car insurance rate increases since 1976.
cnn.com/2024/04/12/business/car-insurance-rate-go-up/
Why the US dollar is setting off alarm bells around the world: Suddenly, tension and uncertainty have gripped financial markets, making them highly volatile.
theage.com.au/business/markets/why-the-us-dollar-is-setting-off-alarm-bells-around-the-world-20240415-p5fjta.html
More Malaysians seeking jobs in Singapore amid weakening ringgit, inflation: Recruiters
channelnewsasia.com/singapore/malaysians-working-jobs-ringgit-inflation-manpower-employment-4265736
Multinational giants urged to front supermarket inquiry for ‘playing hardball’: Australian retailers have turned their sights on global suppliers such as Nestle ...
smh.com.au/business/companies/multinational-giants-urged-to-front-supermarket-inquiry-for-playing-hardball-20240411-p5fj6q.html
Wall Street traders keep underestimating America’s economic strength: It's the exact opposite of what happened in the 2010s
axios.com/2024/04/14/stock-market-bonds-interest-rates-us-economy
Year-end bonuses in Taiwan average NT$77,348 for 2023: DGBAS - Focus Taiwan: Employees in Taiwan received average year-end bonuses of about NT$77,348 (US$2 ...
focustaiwan.tw/business/202404120017
Coping with higher prices on smaller portions and chicken nuggets: The past few years have been tough financially for many of us, and it’s potentially changing ...
smh.com.au/business/the-economy/coping-with-higher-prices-on-smaller-portions-and-chicken-nuggets-20240411-p5fj5t.html
The New Magic Number for Retirement Is $1.46 Million. Here’s What It Tells Us.: There is no single formula for how much you need to save in your 401(k).
on.wsj.com/3J2sYeI
Why is beer so expensive?: Inflation for most goods and services has been falling since late 2022, but the price of beer has risen at its fastest rate in decades ...
smh.com.au/politics/federal/why-is-beer-so-expensive-20240411-p5fj5n.html
Auto insurance premiums are skyrocketing. What's to blame?: Inflation accelerated more than expected in March, and an unsuspecting culprit may be to blame: auto ...
foxbusiness.com/economy/auto-insurance-premiums-are-skyrocketing-whats-blame
Biden Vows to Back Japan, Philippines as China Rattles Allies: President Joe Biden said he was committed to “deepening maritime and security ties” with Japan and ...
bloomberg.com/news/articles/2024-04-11/biden-vows-to-back-japan-philippines-as-china-rattles-allies
Quick Glance: Biden criticizes Netanyahu's Gaza war approach
- President Joe Biden criticizes Netanyahu for inadequate humanitarian aid in Gaza.
- The U.S. increases pressure on Israel to achieve a ceasefire, straining the long-standing alliance.
- Disagreements over humanitarian aid and offensive plans in Rafah deepen the divide between the two countries.
- Israel slowly ramps up aid, but logistical issues and security concerns complicate deliveries.
When will Americans see those interest-rate cuts?: Following a nasty surprise, some now think they may come only after the presidential election
economist.com/finance-and-economics/2024/04/10/when-will-americans-see-those-interest-rate-cuts
Social Security's COLA estimate rises. But seniors could struggle as inflation heats up.
usatoday.com/story/money/personalfinance/2024/04/10/2025-cola-estimate-higher-inflation-social-security/73272852007/
Here's the new plan to boost background checks for guns bought at shows or online
npr.org/2024/04/11/1244007539/biden-guns-background-check-rule
Quick Glance: Biden Administration Implements Stricter Background Checks for Gun Dealers
- A new rule by the Biden administration will require thousands of gun dealers to conduct background checks on buyers to close a legal loophole.
- President Biden emphasizes that the measure aims to keep guns away from domestic abusers and felons to save lives.
- The law mandates that sellers primarily engaged in selling firearms for profit must be federally licensed and perform checks.
- Despite praise from advocates, the regulation is likely to face legal challenges from gun rights activists, concerned about potential infringements.
43 Senate Republicans write to Schumer to demand Mayorkas trial: Forty-three Senate Republicans led by Sen. Lindsey Graham (R-S.C.) signed a letter to Senate ...
thehill.com/homenews/senate/4589048-republicans-schumer-mayorkas-trial/
Biden administration raises costs to drill on public lands: The Interior Department finalized a rule Friday making it more expensive for oil and gas producers to ...
thehill.com/policy/energy-environment/4590251-biden-administation-raises-costs-drill-public-lands/
Quick Glance: Biden Raises Drilling Costs on Federal Lands, Trump Courts Oil Donors
- The Biden administration has finalized a new rule requiring oil companies to pay at least ten times more for drilling on federal lands to generate more revenue for taxpayers.
- While Trump discusses easing drilling regulations with energy executives, the US is historically pumping a lot of crude oil, complicating regulations for Trump and Biden's climate agenda.
- The rule mandates higher bonds and royalties for fossil fuels on federal lands to better compensate taxpayers and cover the costs of cleaning up abandoned wells.
- In addition to reshaping fossil fuel production on federal lands, the administration has advanced renewable energy development on these tracts and significantly reduced rents and fees for clean energy projects.
State prosecutor to investigate Georgia Lt. Gov. Jones and his role as Trump fake elector | CNN Politics
cnn.it/3VQcwWs
Japan is giving Washington 250 new cherry trees to replace those to be lost in construction work
apnews.com/article/japan-cherry-trees-blossoms-biden-483e8a004eb197acb5363d619f3e6529
Quick Glance: Japan to Gift Washington 250 New Cherry Trees
- Japanese Prime Minister Fumio Kishida announced that Japan will gift the United States 250 new cherry trees to replace the ones being removed.
- In 1912, the first lady Helen Herron Taft and Viscountess Chinda planted the original cherry trees, symbolizing the friendship between the two countries.
- The cherry tree gift signifies the strong alliance between the U.S. and Japan as they discuss Pacific security matters.
- The Tidal Basin, a reservoir in Washington with a high concentration of cherry blossom trees, is undergoing renovations, prompting Japan to offer new saplings.
Morning Bid: De-risking, seeking safety as Middle East tensions rise: A look at the day ahead in Asian markets.
reuters.com/markets/global-markets-view-asia-graphic-pix-2024-04-14/
Trump to host rally on Biden's home turf in northeast Pennsylvania: Donald Trump’s rally in northeast Pennsylvania, an area President Joe Biden considers home ...
abcnews.go.com/Politics/wireStory/trump-host-rally-bidens-home-turf-northeast-pennsylvania-109189340
Why Democrats are losing Asian Americans: Asian American voters in 2024 are increasingly engaged in politics given recent inflation, crime and education ...
thehill.com/opinion/4581602-why-democrats-are-losing-asian-americans/
Famed photographer quits Ford board over Liz Cheney snub: David Hume Kennerly wanted the Trump critic honored with the foundation’s top award.
politico.com/news/2024/04/10/david-hume-kennerly-liz-cheney-gerald-ford-foundation-00151480
Trump’s rally in Pa. will be the last one before his hush money trial: The presumptive Republican nominee is scheduled to speak Saturday night at the ...
pennlive.com/politics/2024/04/trumps-rally-in-pa-will-be-the-last-one-before-his-hush-money-trial.html
Hot inflation may put Fed rate cut in thick of election season: Hot U.S. inflation data has put the Federal Reserve's debate over a first interest rate cut on a ...
reuters.com/world/us/hot-inflation-may-put-fed-rate-cut-thick-election-season-2024-04-11/
How migrant workers have contributed to strong U.S. job growth: It turns out that the influx of foreign-born adults vastly raised the supply of available workers ...
pbs.org/newshour/economy/how-migrant-workers-have-contributed-to-strong-u-s-job-growth
Biden's bad news on inflation: Inflation is rearing its ugly head again and it's a nightmare for Biden on several fronts.
axios.com/2024/04/10/cpi-inflation-report-biden-march
Biden heading to his Pennsylvania hometown to talk taxes: Despite the healthy job market, a near-record-high stock market and a decline in inflation ...
pennlive.com/politics/2024/04/biden-heading-to-his-pennsylvania-hometown-to-talk-taxes.html
Producer prices come in softer than consumer prices in March: Producer prices rose less than economists expected in March after consumer prices came in hot ...
thehill.com/business/4588023-producer-prices-come-in-softer-than-consumer-prices-in-march/
Why are auto insurance premiums so high? Blame inflation and a few other factors: Wednesday's inflation report showed consumer price growth continues to drift ...
nbcnews.com/business/consumer/auto-insurance-premiums-costs-high-prices-inflation-explainer-rcna147204
When will Americans see those interest-rate cuts?: Following a nasty surprise, some now think they may come only after the presidential election
economist.com/finance-and-economics/2024/04/10/when-will-americans-see-those-interest-rate-cuts
Consumer Prices Rose 3.5% in March From Year Earlier: Annual inflation ticked up and underlying price pressures remained strong last month. .
on.wsj.com/3VVaIeY
Biden claims inflation was 'skyrocketing' when he took office, despite data showing opposite
foxbusiness.com/politics/biden-claims-inflation-skyrocketing-took-office-despite-data-showing-opposite
I saved $1,700 eating leftover food from NYC's top restaurants — here's the gourmet haul I got for mere dollars
nypost.com/2024/04/12/lifestyle/i-saved-1700-eating-leftover-food-from-nycs-top-restaurants-what-i-got/
What China’s central bank and Costco shoppers have in common: Hint: it is not a fondness for cryptocurrencies
economist.com/finance-and-economics/2024/04/11/what-chinas-central-bank-and-costco-shoppers-have-in-common
Dow tumbles 475 points, S&P 500 suffers worst day since January as inflation woes erupt
cnbc.com/2024/04/11/stock-market-today-live-updates.html
Mortgage rates hit highest level since November after hot inflation report: Mortgage rates jumped to their highest reading since November as the timeline for ...
thehill.com/business/housing/4585910-mortgage-rates-hit-highest-level-since-november-after-hot-inflation-report/
Inflation rate falls: That's why shopping is getting cheaper again: Food is becoming cheaper again in Germany for the first time in a long time ...
rundschau-online.de/wirtschaft/inflation-darum-wird-einkaufen-wieder-guenstiger-774416
How Trump’s tariff plans could kill jobs and worsen inflation: Tariff Man could be back in the White House next year – and he’s promising the sequel will be even ...
cnn.com/2024/04/11/economy/trump-tariffs-trade-jobs-inflation/
Focus: Soaring insurance costs hit as US buyers finally get a break on car prices
reuters.com/markets/us/soaring-insurance-costs-hit-us-buyers-finally-get-break-car-prices-2024-04-11/
US inflation jumps as fuel and housing costs rise: Inflation was 3.5% in March, a sign that cooling has stalled and interest rate cuts may be delayed.
bbc.com/news/business-68781482
BlackRock's Larry Fink sees Fed cutting rates twice this year but missing 2% inflation goal
cnbc.com/2024/04/12/blackrocks-larry-fink-sees-fed-cutting-rates-twice-this-year-but-missing-2percent-inflation-goal.html
Five things to know as the tax deadline looms: April 15th, the deadline to file your income taxes, is just around the corner. Filings so far this year are on ...
npr.org/2024/04/11/1242535266/taxes-irs-filing-money
Quick Glance: Gender Pay Gap in UK Supermarkets and Income Impact
- UK supermarkets are closing gender pay gap, with Morrisons experiencing a rise.
- Ocado and Lidl show the most improvements, while Morrisons has the largest gap.
- Hourly pay differences are reported by government service.
- Equality initiatives and workplace improvements at M&S and Co-op.
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