Tag: Inflation

Surging inflation fears sent markets tumbling and Fed officials scrambling

ichitra.digital

[ad_1] A sign advertising units for rent is displayed outside of a Manhattan building on April 11, 2024 in New York City. Spencer Platt | Getty Images The early data is in for the path of inflation during the first three months of 2024, and the news so far is, well, not good. Pick your poison. Whether it’s prices at the register or wholesale input costs, while inflation is off the blistering pace of 2022, it doesn’t appear to be going away anytime soon. Future expectations also have been drifting…

Wholesale prices rose 0.2% in March, less than expected

ichitra.digital

[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

ichitra.digital

[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,…

A crucial report Wednesday is expected to show little progress against inflation

ichitra.digital

[ad_1] Shoppers are seen in a Kroger supermarket on October 14, 2022, in Atlanta, Georgia.  Elijah Nouvelage | AFP | Getty Images A closely watched Labor Department report due Wednesday is expected to show that not much progress is being made in the battle to bring down inflation. If so, that would be bad news for consumers, market participants and Federal Reserve officials, who are hoping price increases slow enough so that they can start gradually cutting interest rates later this year. The consumer price index, which measures costs for…

Fed's Kashkari raises prospect of zero rate cuts — but Goldman says that would be 'very surprising'

ichitra.digital

Fed’s Kashkari, the Minneapolis Federal Reserve President, recently suggested the possibility of zero rate cuts this year if inflation remains steady. Despite this, Goldman Sachs’ Chief Economist Jan Hatzius maintains his expectation of three interest rate cuts in 2024. Market watchers await Friday’s U.S. jobs data for additional insights into inflation and the labor market. [ad_1] Minneapolis Federal Reserve President Neel Kashkari. John Lamparski | Getty Images Entertainment | Getty Images Goldman Sachs Chief Economist Jan Hatzius on Friday said that he still expects the Federal Reserve to implement three…

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

ichitra.digital

[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…