A woman takes a selfie photo, with the Eiffel Tower in the background, at Surcouf street in Paris, on July 23, 2024, ahead of the Paris 2024 Olympic Games. Mauro Pimentel | Afp | Getty Images France’s harmonized inflation rate fell sharply in September, preliminary data from the National Institute of Statistics and Economic Studies … Read more
SYDNEY, AUSTRALIA – SEPTEMBER 05: A person looking at milk products in a supermarket on September 05, 2024 in Sydney, Australia. Australia is currently facing a severe cost of living crisis, with rising prices for essentials like food, housing, and utilities significantly outpacing wage growth, leaving many households struggling to make ends meet. James Gourley … Read more
Consumers’ view on the economy tumbled in September, falling by the largest level in more than three years as fears grew about jobs and business conditions, the Conference Board reported Tuesday. The board’s consumer confidence index slid to 98.7, down from 105.6 in August, the biggest one-month decline since August 2021. The Dow Jones consensus … Read more
Democratic presidential nominee and Vice President Kamala Harris speaks to members of the media upon her arrival at Joint Base Andrews in Maryland on Sept. 22, 2024. Matt Rourke | Via Reuters More than 400 economists and former White House policy advisors announced their support for Vice President Kamala Harris over former President Donald Trump … Read more
U.S. Federal Reserve Chair Jerome Powell holds a press conference in Washington, D.C., on Sept. 18, 2024. Mandel Ngan | AFP | Getty Images The Federal Reserve’s move to lower interest rates by 50 basis points puts the U.S. economy on track for a soft landing, according to Goldman Sachs‘ chief financial officer. His comments … Read more
Donald Trump’s running mate and Ohio Senator J.D. Vance stirred controversy by connecting rising egg prices to the policies of Vice President Kamala Harris. The incident occurred during a visit to a supermarket in Reading, Pennsylvania, where Vance, accompanied by his children, sought to highlight inflationary pressures affecting consumers. — TrumpWarRoom (@TrumpWarRoom) However, his assertions … Read more
Minneapolis Federal Reserve President Neel Kashkari said Monday that he expects policymakers to dial down the pace of interest rate cuts after last week’s half percentage point reduction. “I think after 50 basis points, we’re still in a net tight position,” Kashkari said in a CNBC “Squawk Box” interview. “So I was comfortable taking a … Read more
Westend61 | Westend61 | Getty Images Some young people are splashing out on luxuries like travel and designer clothes instead of saving, in a trend that’s being characterized as “doom spending” on social media. Doom spending is when a person mindlessly shops to self-soothe because they feel pessimistic about the economy and their future, according … Read more
“If you look at the consensus forecast for the fourth quarter and then this first and second quarter of next year, they bounce back up to 10%,” says Mark Matthews, Julius Baer.In the second half of this year, apart from US election, what else could be at play? What do you think could be the … Read more
Federal Reserve Governor Christopher Waller said Friday he supported a half percentage point rate cut at this week’s meeting because inflation is falling even faster than he had expected. Citing recent data on consumer and producer prices, Waller told CNBC that the data is showing core inflation, excluding food and energy, in the Fed’s preferred … Read more
