OPEC+ meeting to test Biden’s Saudi oil entreaty

OPEC+ meeting to test Biden’s Saudi oil entreaty

This post was originally published on this site The OPEC+ group of major oil exporters meets Wednesday to discuss its output strategy after US President Joe Biden lobbied Saudi Arabia to boost production to tame energy-fueled inflation. The cartel led by Saudi Arabia and Russia has resisted US pressure to...

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What is the Inflation Reduction Act?

What is the Inflation Reduction Act?

This post was originally published on this site Last week US Senator Joe Manchin and Majority Leader Chuck Schumer unexpectedly announced the reconciliation bill that had been declared dead was back. US Senator Kyrsten Sinema and various conservative Democrats could still decide to blow it up. But if all goes...

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Slowdown in home prices broke record in June: research firm

Slowdown in home prices broke record in June: research firm

This post was originally published on this siteAnnual home price growth dropped by nearly two percentage points in June, the largest single-month slowdown on record, according to new research. Black Knight, a real estate software and analytics company that has been tracking the metric since the early 1970s, found that...

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Crypto Is Sticking Its Nose Into US Economic Woes

Crypto Is Sticking Its Nose Into US Economic Woes

This post was originally published on this siteDigital currencies have enough juice now to influence inflation, housing and the labor market.

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Fed official signals willingness to hike interest rates full percentage point

Fed official signals willingness to hike interest rates full percentage point

This post was originally published on this site US Federal Reserve Governor Christopher Waller signaled Thursday he may support a full percentage point interest rate hike this month — the biggest increase in more than 30 years and a further indication of the central bank’s determination to crush sky-high inflation....

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Manchin: Inflation ‘now poses a clear and present danger to our economy’

Manchin: Inflation ‘now poses a clear and present danger to our economy’

This post was originally published on this site  window.loadAnvato({“mcp”:”LIN”,”width”:”100%”,”height”:”100%”,”video”:”7831197″,”autoplay”:false,”expect_preroll”:true,”pInstance”:”p1″,”plugins”:{“comscore”:{“clientId”:”6036439″,”c3″:”thehill.com”,”version”:”5.2.0″,”useDerivedMetadata”:true,”mapping”:{“c3″:”thehill.com”,”ns_st_st”:”hill”,”ns_st_pu”:”Nexstar”,”ns_st_ge”:”Hill.TV”,”cs_ucfr”:””}},”dfp”:{“adTagUrl”:”https://pubads.g.doubleclick.net/gampad/ads?sz=1×1000&iu=/5678/nx.thehill/policy/finance/landing&ciu_szs=300×250&impl=s&gdfp_req=1&env=vp&output=vmap&unviewed_position_start=1&ad_rule=1&description_url=https://thehill.com/policy/finance/feed/&cust_params=vid%3D7831197%26pers_cid%3Dunknown%26vidcat%3D/policy/finance%26bob_ck%3D%26d_code%3D1%26pagetype%3Dsubindex%26hlmeta%3Dpolicy__finance”},”segmentCustom”:{“script”:”https://segment.psg.nexstardigital.net/anvato.js”,”writeKey”:”7pQqdpSKE8rc12w83fBiAoQVD4llInQJ”,”pluginsLoadingTimeout”:12}},”expectPrerollTimeout”:8,”accessKey”:”q261XAmOMdqqRf1p7eCo7IYmO1kyPmMB”,”token”:”eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJ2aWQiOiI3ODMxMTk3IiwiaXNzIjoicTI2MVhBbU9NZHFxUmYxcDdlQ283SVltTzFreVBtTUIiLCJleHAiOjE2NTc3MjkyNjF9.AQD-apOeGZetAc6AD7UtnFlIU4tHemBDO_tGCsbaH9A”,”nxs”:{“mp4Url”:”https://tkx.mp.lura.live/rest/v2/mcp/video/7831197?anvack=q261XAmOMdqqRf1p7eCo7IYmO1kyPmMB&token=%7E6SC6cJIOakS5Py9SY1akX7loGseZvo70MQ%3D%3D”,”enableFloatingPlayer”:true},”disableMutedAutoplay”:false,”recommendations”:true,”expectPreroll”:true,”titleVisible”:true,”pauseOnClick”:true,”trackTimePeriod”:60,”isPermutiveEnabled”:true}); Centrist Sen. Joe Manchin (D-W.Va.) on Wednesday sounded the alarm after the latest inflation report showed a 9.1 percent jump in prices over the past year, saying that the skyrocketing costs now pose “a clear and present danger to our economy.”...

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June inflation data expected to stay hot amid high gas prices

June inflation data expected to stay hot amid high gas prices

This post was originally published on this siteJune inflation data remained hot amid higher gas and energy prices.

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Fed’s Inflation Dashboard Puts More Weight on Volatile Energy, Food Prices

Fed’s Inflation Dashboard Puts More Weight on Volatile Energy, Food Prices

This post was originally published on this siteConcerns that consumers could begin to expect higher inflation to last longer spur a more aggressive rate-rise path.

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Corporations’ thirst for profits isn’t to blame for inflation, economists say

Corporations’ thirst for profits isn’t to blame for inflation, economists say

This post was originally published on this siteThere’s growing agreement among economists that companies have become more powerful and more profitable over the past several decades — a fact they say pokes a hole in some lawmakers’ arguments that greed for profits is what’s behind spiking inflation. The logic among...

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Consumers’ Inflation Psychology  Worries Fed

Consumers’ Inflation Psychology Worries Fed

This post was originally published on this siteFederal Reserve officials have indicated they accept the risks of causing a recession because they are determined to prevent something they view as worse: a change in consumer psychology that could sustain high inflation.

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