Tag: Breaking News: Economy

Wholesale prices rose 0.2% in March, less than expected

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[ad_1] A measure of wholesale prices increased less than expected in March, providing some potential relief from worries that inflation will hold higher for longer than many economists had expected. The producer price index rose 0.2% for the month, less than the 0.3% estimate from the Dow Jones consensus and not as much as the 0.6% increase in February, according to a release Thursday from the Labor Department’s Bureau of Labor Statistics. However, on a 12-month basis, the PPI climbed 2.1%, the biggest gain since April 2023, indicating pipeline pressures…

Hot inflation data pushes market’s rate cut expectations to September

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[ad_1] Traders work on the floor of the New York Stock Exchange during afternoon trading on April 09, 2024 in New York City. Michael M. Santiago | Getty Images As recently as January, investors had high hopes that the Federal Reserve was about to embark on a rate-cutting campaign that would reverse some of the most aggressive policy tightening in decades. Three months of inflation data have brought those expectations back down to earth. March’s consumer price index report Wednesday helped verify worries that inflation is proving stickier than thought,…

Key Fed inflation gauge rose 2.8% annually in February, as expected

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[ad_1] Inflation rose in line with expectations in February, likely keeping the Federal Reserve on hold before it can start considering interest rate cuts, according to a measure the central bank considers its more important barometer. The personal consumption expenditures price index excluding food and energy increased 2.8% on a 12-month basis and was up 0.3% from a month ago, the Commerce Department reported Friday. Both numbers matched the Dow Jones estimates. Including volatile food and energy costs, the headline PCE reading showed a 0.3% increase for the month and…

Close to half of Americans back a ban or sale of TikTok, survey found

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[ad_1] Nearly half of Americans are concerned enough about TikTok being a threat to national security that they support banning the social media service or forcing a sale to a non-Chinese company, according to the latest CNBC All-America Economic Survey. But the poll also found substantial differences of opinion on the issue based on politics, age and those who use the app versus those who don’t. The nationwide survey of 1,001 Americans(half of Americans) revealed that 20% of participants said TikTok should be banned no matter what. Another 27% said…