New Delhi: Former World Bank chief economist Kaushik Basu on Saturday said India needs to tame inflation that disproportionately affects people who spend a large chunk of their income on food and could exacerbate inequality. “Even if inflation is at 5.1%, food inflation is at 30%. For someone spending 50% of their income on food, … Read more
A tame inflation report this week gave hope to Democrats that their biggest electoral weakness may finally be in the rearview mirror after being stubbornly persistent since 2022. Even as inflation has been slowing since then, it’s still a big worry for voters, and in his bid to get reelected, former President Donald Trump has … Read more
Vice President Kamala Harris, in her first major economic policy address since becoming the Democratic presidential nominee, unveiled Friday proposals to ease the costs of housing and food as part of a larger effort to create “an opportunity economy.” The speech in Raleigh, North Carolina, which had been widely anticipated to fill in some details … Read more
Activists demonstrate in support of a $15-per-hour minimum wage and tips for restaurant workers in Washington, D.C. on Feb. 8, 2022. Mandel Ngan | AFP | Getty Images The federal minimum wage recently marked a new anniversary. But for affected workers, that may not be something to celebrate. The federal minimum wage has now been … Read more
U.S. Vice President Kamala Harris delivers remarks on Medicare drug price negotiations, at an event with U.S. President Joe Biden in Prince George’s County, Maryland, U.S., August 15, 2024. Elizabeth Frantz | Reuters Vice President Kamala Harris on Friday will unveil a new set of economic proposals that she would prioritize in her first 100 … Read more
Traders work on the floor of the New York Stock Exchange. Michael M. Santiago | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. … Read more
Fotostorm | E+ | Getty Images Inflation cooled below 3% in July 2024, the first time it dropped beneath that level in more than three years. While many areas of the U.S. economy are dis-inflating — meaning their prices are still rising, though at a slower rate — some have been outright deflating. That means … Read more
Wednesday’s report from the Labor Department showed that year-over-year inflation reached its lowest level in more than three years in July. This suggests the worst price spike in four decades is fading and that the Federal Reserve might do an interest rate cut next month. But the Trump campaign tried to spin what most economic … Read more
Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September. Wednesday’s report from the Labor Department showed that consumer prices rose just 0.2% from June to … Read more
A trader works on the floor of the New York Stock Exchange (NYSE) during morning trading on March 4, 2024 in New York City. Angela Weiss | Afp | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need … Read more
