Category: Inflation

Why the Fed needs to cut interest rates to lower inflation, according to a JPMorgan strategist

US Federal Reserve Chair Jerome Powell attends a press conference in Washington, DC, on March 22, 2023. Liu Jie/Xinhua via Getty Images If the Federal Reserve wants to lower inflation, they need to cut interest rates, according to JPMorgan. JPMorgan strategist Jack Manley said lower interest rates would help lower shelter costs. “You’re not going to see meaningful downward pressure on shelter costs until the…

Annual inflation ticks higher to 3.5 percent in March

Inflation ticked higher in March, according to new Labor Department data released Wednesday. The consumer price index (CPI), a popular measure of inflation, rose 0.4 percent last month and 3.5 percent annually, largely in line with economist projections. Economists had anticipated that inflation would increase 0.4 percent in March and 3.4 percent annually. The latest numbers come after two months of hotter than expected inflation…

Inflation came in hotter than expected in March

Mostafa Bassim/Anadolu via Getty Images Inflation as measured by the Consumer Price Index ticked up again in March. The CPI rose 3.5% from March 2023 to this past March, after rising 3.2% year over year in February. March’s year-over-year increase was forecasted to be a higher rate than February’s rate. US inflation is hot again. A Wednesday news release from the Bureau of Labor Statistics…

Democrats nervous Trump wooing centrists from Biden

Democrats are growing increasingly nervous that former President Trump will woo centrist voters away from President Biden. They say Trump, after quickly securing victory in the GOP primary, is now taking steps that could help him win the support from the broad middle of the country.  The best example is the former president’s decision to not back a 15-week ban on abortion and instead say…

Discount chain 99 Cents Only Stores is winding down its business and selling hundreds of branches

The chain opened its first store in Los Angeles in 1982. Kevork Djansezian/Getty Images 99 Cents Only Stores, a discount chain with branches in several states, is winding down operations. It’s selling its 371 stores and will liquidate its merchandise and fixtures. The company blamed a number of factors including the pandemic, shrink, and inflation. Discount chain 99 Cents Only Stores is closing down. The retailer,…

Why childcare has become so unaffordable

Childcare costs are skyrocketing, forcing families to move across the US. But there may be a light at the end of the tunnel. Read the original article on Business Insider Go to Source