Consumer prices climbed again in August, with inflation running well above the Federal Reserve's target for more than five years, and now traders see a 90 percent chance the central bank raises interest rates at its meeting next week. The Consumer Price Index rose 0.4 percent from July and 3.4 percent on an annual basis, […] The post August inflation data strengthens the case for another Fed rate hike appeared first on American Almanac .
Consumer prices climbed again in August, with inflation running well above the Federal Reserve's target for more than five years, and now traders see a 90 percent chance the central bank raises interest rates at its meeting next week. The Consumer Price Index rose 0.4 percent from July and 3.4 percent on an annual basis, the August report showed . Core inflation, which strips out volatile food and energy costs, came in at 0.3 percent for the month and 2.4 percent year-over-year. A narrower measure the Fed watches closely, services prices excluding energy and housing, sometimes called "supercore" inflation, accelerated to 0.5 percent in August, running at a 3 percent annual clip. Energy costs drove much of the headline number. Gasoline…Open
Consumer prices rose at a 3.4 percent annual pace in August, well above the Federal Reserve's 2 percent target, and with real wages falling for a fifth straight month, American workers are losing ground. The August Consumer Price Index data, released Friday, showed prices climbed 0.4 percent from July alone. Core inflation, which strips out […] The post August inflation report strengthens the case for a Fed rate hike next week appeared first on American Almanac .
Consumer prices rose at a 3.4 percent annual pace in August, well above the Federal Reserve's 2 percent target, and with real wages falling for a fifth straight month, American workers are losing ground. The August Consumer Price Index data, released Friday , showed prices climbed 0.4 percent from July alone. Core inflation, which strips out volatile food and energy costs, rose 0.3 percent on the month and 2.4 percent year over year. The so-called "supercore" measure, services minus energy and housing, a gauge the Fed watches closely, accelerated to 0.5 percent in August, running at a 3 percent annual clip. The numbers land days before the Fed's policy-setting committee meets Tuesday and Wednesday. Federal-funds futures markets now price…Open
State of the Union: Chinese entities provided intel to Iran before a deadly attack, U.S. officials say. The post Iran War Day 198: China’s Xi Pledges to Help End Conflict appeared first on The American Conservative .
President Xi Jinping said Saturday that China is willing to play its “due role” in helping bring peace to the Middle East. Xi’s comments came during his address at the ongoing BRICS summit of emerging economies. “The war has caused serious losses to people across the region and does not serve the common interests of the international community,” Xi said . The Chinese leader offered diplomatic assistance earlier in the war as well. Also in attendance are Iran’s President Masoud Pezeshkian and Russia’s President Vladimir Putin. The two-day conference is being held in New Delhi and hosted by India’s Prime Minister Narendra Modi. It marks Xi’s first visit in seven years to India, with which China has tensions. The…Open
With less than 2 months until election day, high prices are causing issues with President Trump’s midterm push for Republicans. Gas prices are still soaring and diesel prices have set a record high at more than $6 dollars a gallon amid the war in Iran. At the GOP’s first ever midterm convention this week, Trump even floated a dubious idea of sending $5,000 dividend checks to every American if Republicans keep both chambers of Congress after the midterms. Meidastouch Chief Washington Correspondent Scott MacFarlane and MS Now contributor David Drucker join The Weekend to discuss.
Americans are facing a rising tab as a multi-decade borrowing binge collides with a spike in energy prices caused by the Iran war. The big picture: Long-term interest rates are surging, as are consumer prices. - It's a toxic mix of near-term inflation pressures and years of fiscal imbalance. Driving the news: The yield on the benchmark 10-year U.S. Treasury note rose to 4.97% Friday, up a full percentage point since the end of February, and only a hair below its high since 2007. - The rate on a 30-year fixed-rate mortgage has risen in lockstep, reaching 7.08% Friday, per Mortgage News Daily — the highest in more than a year. State of play: The immediate catalyst Friday was an inflation report that showed consumer prices surging higher…
There’s one part of the world where U.S. diplomacy is working. The post Trump’s Quiet Foreign Policy Success? Relations with China appeared first on The American Conservative .
China Trump’s Quiet Foreign Policy Success? Relations with China There’s one part of the world where U.S. diplomacy is working. (Andrew Harnik/Getty Images) Support for President Donald Trump’s foreign policy has dropped to a record low. A Quinnipiac poll released last week found that just 33 percent of Americans approved of Trump’s handling of the issue—the worst figure recorded across either term. And little wonder. More than six months of war with Iran have jacked up prices for everything from gas to groceries, severely decreased the Pentagon’s munitions stockpiles, and left thousands…Open
State of the Union: President Trump declined, later telling reporters everything will be “fine and dandy.” The post Iran War Day 197: Saudi Crown Prince Urged Trump to Join Yemen War appeared first on The American Conservative .
Saudi Crown Prince Mohammed bin Salman (MBS), in two phone calls Thursday, urged President Donald Trump to launch strikes against the Iran-backed Houthis in Yemen, Axios reported Friday. Trump is reported to have declined, though the commander of U.S. Central Command traveled to Saudi Arabia Thursday for meetings. Trump told reporters Saturday that the Houthis “called us, and they don’t want to fight with us.” The president confirmed the conversation with “good friend” MBS but gave no indication of urgency. “I can just say everything’s going to work out fine and dandy,” he added. “It’s going to be very good.” The Houthis in recent days seized strategic territory closer to the Bab al-Mandab Strait, a key chokepoint…Open
