Director of the National Economic Council Lael Brainard speaks during the daily press briefing at the White House January 11, 2024 in Washington, DC. Brainard fielded a range of questions about the economy and inflation. Drew Angerer | Getty Images National Economic Council Director Lael Brainard on Tuesday blamed higher consumer prices on “shrinkflation,” doubling … Read more
India needs to grow at seven to eight per cent annually in order to become a developed nation with USD 13000 per capita income by 2047, former Reserve Bank Governor C Rangarajan said on Tuesday. Asserting that innovation cannot be a single solution to reduce inequalities or poverty, the former Chairman of the Prime Minister’s … Read more
Credit cards are an Achilles’ heel for many people. Collectively, Americans now owe $1.13 trillion on their cards, and the average balance per consumer is up to $6,360, both historic highs. Not only are more cardholders carrying debt from month to month but more are increasingly falling behind on payments, recent reports show. “Even though dealing with $1 … Read more
Oil prices were little changed on Tuesday for a second straight day as uncertainty about the pace of potential U.S. interest rate cuts and the impact on fuel demand offset worries about Middle East tensions that could disrupt supply. Brent futures edged 1 cent lower $81.99 a barrel. U.S. West Texas Intermediate (WTI) crude rose … Read more
Anna Bizon | Gallo Images Roots Rf Collection | Getty Images President Joe Biden took to social media ahead of the Super Bowl on Sunday to take a jab at snack companies that are giving consumers less food for their money. The phenomenon called shrinkflation — where consumer products become smaller in quantity, size or … Read more
Reserve Bank Governor Shaktikanta Das on Monday said lower government borrowings than the market estimates will free more capital for the private sector resulting in easing of inflation and bolstering growth. “This year’s borrowing is lower than what initially the markets had expected. Lower quantum of borrowing means…it would ensure that much more resources will … Read more
People shop in a supermarket in the Manhattan borough of New York city on January 27, 2024. Charly Triballeau | AFP | Getty Images The prices consumers pay in the marketplace rose at an even slower pace than originally reported, according to closely watched revisions the government released Friday. Updates to the consumer price index … Read more
Many Chinese developers have halted or delayed construction on presold homes due to cash flow problems. Pictured here is a property construction site in Jiangsu province, China, on Oct. 17, 2022. Future Publishing | Future Publishing | Getty Images China’s economy is sputtering. Its property market is crumbling, deflationary pressures are spreading across the nation, … Read more
Federal Reserve Governor Adriana Kugler said Wednesday inflation is showing solid signs of slowing down, but she is not ready yet to start lowering interest rates. In her first major policy address since being confirmed to the Board of Governors in September 2023, Kugler said three factors are converging to ease inflation pressures: moderating wage … Read more
Catherine Falls Commercial | Moment | Getty Images If you’ve noticed the cost of your car insurance policy has gone up, you’re not alone. Inflation takes some of the blame, but your credit score may have a role as well. The national average cost for full-coverage car insurance has gone up to $2,543 per year, … Read more
