Shopping for the holidays starts with inflation dampening spirits

NEW YORK (AP) — While Black Friday will mark a return to familiar holiday shopping patterns, uncertainty remains. The US labor market remains strong, consumer spending is resilient and inflation is slowing. But higher prices for food, rent, gas and other household expenses have taken a toll on shoppers. As a result, many are reluctant … Read more

Turkey cuts interest rates by 150 basis points and ends the easing cycle

An electronic board shows exchange rate information at a bureau de change in Istanbul, Turkey, on Monday, August 29, 2022. Nicole Tung | Bloomberg | Getty Images Turkey’s central bank cut interest rates by 150 basis points to 9% on Thursday and decided to end the cycle of monetary policy easing, citing increased inflation risks. … Read more

Lifting pandemic stimulus earlier would have contained inflation: Bank of Canada’s Macklem – National

The Bank of Canada and the federal government could have taken their foot off the gas earlier in stimulating the economy during the COVID-19 pandemic, Governor Tiff Macklem said Wednesday, but he added that the knowledge is only now clear with the benefit of hindsight. Macklem and Senior Deputy Governor Carolyn Rogers spoke to the … Read more

Chicken prices are finally starting to drop

New York CNN affairs — While some meat prices have fallen over the past year, chicken prices have remained stubbornly high. Strong demand, supply issues and even breeding problems with underperforming roosters kept the pressure high. The supply shortage even caused some restaurants, such as Wingstop, to experiment with less popular items such as thighs. … Read more

November 2022 Fed Minutes:

Federal Reserve officials agreed earlier this month that smaller rate hikes should happen once they evaluate the policy’s impact on the economy, the minutes published Wednesday show. Reflecting statements made by multiple officials in recent weeks, the meeting summary pointed to small interest rate hikes coming up. Markets are widely expecting the Federal Open Market … Read more

Smith announces financial aid measures for Albertans during a televised speech

Many Albertans will receive financial assistance from the provincial government amid the ongoing inflation and affordability crisis, Prime Minister Danielle Smith announced Tuesday evening. During a televised address, Smith revealed her government plans to pay $600 over the next six months for every child under 18 in lower-income families. The child support threshold is that … Read more

If the world avoids a recession, it will be thanks to India and China

London CNN affairs — Global growth will slow further in the coming year, but thanks to Asia’s largest economies, the world is likely to avoid a recession. According to the latest forecast from the Organization for Economic Co-operation and Development (OECD), global GDP will grow by 3.1% this year and only 2.2% in 2023. While … Read more

RBA Governor Philip Lowe warns Australians to brace themselves for higher inflation and lower growth

The Governor of the Reserve Bank has warned that life will continue to be difficult for central bankers – and probably most households and businesses as well. Most important points: RBA Governor Philip Lowe says globalization has helped central banks keep price increases low and stable over the past three decades Increasing trade restrictions and … Read more

Treasury yields as investor attention turns to comments from Fed speakers

US Treasury yields fell Monday as investors looked to comments from Federal Reserve speakers for hints about future interest rate policy and the central bank’s view on the state of the US economy. At around 4:05 a.m. ET, the return on the benchmark 10 year treasury fell three basis points to 3.7969%. The 2 years … Read more

Fed’s Mester wants more progress on inflation before halting rate hikes

Cleveland Federal Reserve President Loretta Mester said Monday that inflation will have to show more signs of progress before it is ready to stop calling for rate hikes. While acknowledging recent data was encouraging, the central bank official told CNBC that progress is just the beginning. “We’re going to have more work to do because … Read more