Bank of England continues largest rate hike in 27 years as inflation rises

LONDON, February 3: Bank of England Governor Andrew Bailey departs after a press conference at the Bank of England on February 3, 2022 in London, England. The Bank is expected to raise interest rates for its fourth consecutive meeting on Thursday, but faces a balancing act between supporting growth and curbing inflation. Dan Kitwood | … Read more

Prices of fresh food may rise, but how much of your money goes back to the farm?

Lettuce has passed the $10 mark, milk prices are being pushed up by the big supermarkets and strawberries are $6 a tray. Almost everywhere you look, the prices of food and other agricultural products are rising. You’d be forgiven for thinking this must be a great time for Australian farmers, preferably staring out the window … Read more

Fed’s James Bullard expresses confidence that economy can make ‘soft landing’

James Bullard Olivia Michael | CNBC James Bullard, president of the St. Louis Federal Reserve, said Tuesday he still believes the economy can avoid a recession, even as he expects the central bank to continue raising interest rates to keep inflation in check. “I think inflation has come in higher than I expected in the … Read more

US faces ‘L-shaped’ recession as Fed tries to tame inflation

According to a top analyst, the US economy will likely have to remain in recession longer than expected to contain runaway inflation. Zoltan Pozsar, the global head of short-term interest rate strategy at Credit Suisse Group AG, wrote a client note pushing back widespread sentiment that the worst inflation is behind us and that the … Read more

Why does the RBA keep raising interest rates? It’s afraid it can’t contain inflation

There are signs that inflationary pressures are easing. Oil prices have fallen nearly 20 percent from their March peak. They have been falling constantly for a month. The average unleaded price in the capital has fallen from $2.11 a liter in early July to a more bearable $1.74. The money market is forecasting much lower … Read more

Fed’s Mary Daly says ‘our work is far from done’ on raising interest rates

Mary Daly, president of the Federal Reserve Bank of San Francisco, poses after a talk on the US economic outlook, in Idaho Falls, Idaho, US, November 12, 2018. Ann Sapphire | Reuters The Federal Reserve still has a lot of work to do before it gets inflation under control, and that means higher interest rates, … Read more

A catastrophic energy crisis will spark a revolt against our failed elites

This is the summer before the storm. Make no mistake, with energy prices set to soar to unprecedented heights, we are approaching one of the largest geopolitical earthquakes in decades. The ensuing convulsions are likely to be of a much larger magnitude than those following the 2008 financial crash, which sparked protests that culminated in … Read more

66% are afraid of a recession. What concerns each generation most?

A customer shops at a Kroger supermarket on July 15, 2022 in Houston. Brandon Bell | Getty Images While experts debate whether the US is on the brink of an economic downturn, many Americans are already bracing for a recession. So far, 66% of Americans are concerned that a major recession is imminent, compared to … Read more

Democrats face mid-term defeat as voters furious with Biden, ‘misery index’ shows

Voters’ anger at President Biden over the state of the economy is likely to result in another epic “shellacking” for Democrats in the November midterm elections — earning them more than 40 seats in Congress and control, according to a new study. about both rooms could cost. The “misery index” of inflation and unemployment reached … Read more

Australia’s inflation numbers are clear, but when it comes to official wage data, we may be flying blind

There is a bizarre lack of clarity about a particularly crucial economic data point that affects every Australian. We are all aware of the rising cost of living: gas bills, filling up at the gas station, food, transportation and housing. Many of us don’t need the statistical office’s quarterly CPI or inflation statistics to know … Read more