inflation

Biden may lift Chinese tariffs in bid to tackle inflation: report

Biden may lift Chinese tariffs in bid to tackle inflation: report

President Biden is poised to roll back tariffs on some Chinese imports in an effort to slow soaring rates of inflation not seen in the country for decades. A decision by Biden could be announced as soon as this week, according to The Wall Street Journal. The Biden administration is wrapping up a mandatory review …

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Turkey’s annual inflation soars to almost 79%

Shoppers stroll the aisles of a bazaar in Konya, Turkey. The country is experiencing brutal inflation, with food and non-alcoholic beverage prices rising 70.3% year over year for March. Diego Cupolo | Nurphoto | Getty Images Inflation in Turkey rose close to 79% last month, the highest the country has seen in a quarter of …

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Stop Using Defense Production Act, Antitrust to Fix Government-Created Economic Problems

Democrats in Washington have a problem, and not because polls indicate they’ll be swept from power in Congress this November. They acknowledge that rapidly rising inflation combined with a mangled supply chain keeps the economy listless. And yet, the only solutions they seem capable of coming up with are using the Defense Production Act and …

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Americans are set to fork out $84 per PERSON on Fourth of July celebrations

Americans are forecasted to dish out $84 per person on food, fireworks, beer and other festivities for Fourth of July celebrations this year – up $4 from last year. The National Retail Federation’s Independence Day survey of more than 8,200 Americans found that 84 percent of people plan to celebrate the holiday, the same as …

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Some experts say a recession is coming. How to prepare your portfolio

Phonlamaiphoto | Istock | Getty Images Months of stock market volatility, surging inflation and rising interest rates have left many investors wondering if a recession is coming. The stock market tumbled again on Thursday, with the S&P 500 capping its worst six-month start to a year since 1970. In all, it’s down more than 20% …

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10-year Treasury yield falls to lowest level since May

US Treasury yields fell Friday as recession fears and disappointing economic data left investors looking for safety. The yield on the benchmark 10-year Treasury note traded lower by 9 basis points at 2.875%, near its lowest level since late May. Meanwhile, the yield on the 30-year Treasury bond slide more than 1 basis point to …

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Atlanta Fed GDP tracker shows the US economy is likely in a recession

Federal Reserve Chair Jerome Powell reacts as he tests before a Senate Banking, Housing, and Urban Affairs Committee hearing on the “Semiannual Monetary Policy Report to the Congress”, on Capitol Hill in Washington, DC, US, June 22, 2022. Elizabeth Frantz | Reuters A Federal Reserve tracker of economic growth is pointing to an increased chance …

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The market’s worst first half in 50 years has all come down to inflation

Traders on the floor of the NYSE, June 13, 2022. Source: NYSE A multitude of factors conspired to generate the stock market’s worst first-half since 1970, but they all emanated from one word: inflation. The cost of living started the year running at levels the US had not seen since the early 1980s. Worse, Federal …

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Euro zone inflation 8.6% in June, ECB to hike rates for first time in 11 years

The ECB has announced it will be hiking rates in July and September to counter record inflation. Daniel Roland | Afp | Getty Images Euro zone inflation reached a new record high in June just ahead of the European Central Bank’s first rate increase in 11 years. Headline inflation came in at 8.6% (year-on-year) for …

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Opinion: The chip boom likely over, as Micron says it’s in a ‘downturn’

The semiconductor boom of the past two years appears to be ending. Memory-chip maker Micron Technology Inc. MU, -1.32% gave a downbeat forecast for its next fiscal quarter Thursday, predicting a massive revenue shortfall ranging from $1.5 billion to $2.3 billion, as COVID-19 restrictions in China and slower demand for consumer products hurt the sale …

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