Inflation-adjusted wages were flat for the second month in a row.
Inflation-adjusted wages were flat for the second month in a row.
Inflation was surprisingly weak in April, with so-called core CPI actually declining from earlier in the year.
The smaller than expected rise is a sign inflationary pressures in the economy remain low. The rise was the lowest since December, when producer prices were unchanged.
“We want wages to go up,” Treasury Secretary Steven Mnuchin said at a conference in Los Angeles Monday.
Fed officials appear to be convinced that tax cuts and the recent federal budget agreement would add to economic growth. Tariffs on steel and aluminum were not seen as threatening, although federal officials did worry about foreign retaliation.
Venezuelan dictator Nicolás Maduro announced on Tuesday that he will knock three zeros off their currency and create a new monetary system known as the “sovereign bolivar.”
The consumer price index rose 0.2 percent from a month earlier, hitting the consensus forecast. The rise in prices was lower than the prior month, when the CPI rose 0.5 percent.
Garrett Camp, the creator and co-founder of Uber, has unveiled a new Bitcoin-like digital currency, “Eco,” with elite gatekeepers and unlimited inflation built into its protocol — and he needs a billion-strong email list to distribute it.
The number of Americans filing for unemployment benefits last week rose from near a 45-year low, according to Labor Department data released Thursday.
U.S consumer prices increased by more than expected in January.
LONDON (AP) — The pound has pushed above the $1.40 level as traders price in a growing likelihood of another interest rate increase in May from the Bank of England.
Iran’s President Hassan Rouhani announced on Monday that the Islamic Republic of Iran’s central bank has stopped issuing permits and licenses for new private banks or commercial lenders.
Thousands of protesters have taken to the streets of Iran over the past few days, speaking out against both the “hardline” government of the ayatollahs and the supposedly “moderate” secular government of President Hassan Rouhani. “Death to the dictator!” and “Death to Rouhani” are chants heard in at least eight Iranian cities, and the movement appears to be spreading.
The Federal Reserve will almost certainly raise its short-term interest rate target by a quarter percentage point at the conclusion of its two-day policy meeting Wednesday.
The minimum wage in the socialist country of Venezuela has crashed to under $2 a month as hyperinflation continues to shatter the country’s economy.
The price of one full Bitcoin, the original decentralized digital currency, officially hit 10,000 U.S. dollars early Tuesday morning, according to data from CoinMarketCap.
The number of people going hungry in the U.S. is at its lowest level since 2007, according to a new report from the U.S. Department of Agriculture (USDA).
So much for the idea that Trump would send supermarket prices skyrocketing.
Covered California is so desperate to keep insurance companies on its Obamacare exchange that the state plans to guarantee profits to the giant corporations.
LONDON (AP) — Consumer price inflation in Britain unexpectedly held steady in July at an annual rate of 2.6 percent, official figures showed Tuesday, in a development that may ease pressure on the Bank of England to raise interest rates at a time when the economy has slowed amid uncertainty over the country’s exit from the European Union.
U.S. inflation slowdown keeps going and going.
LONDON (AP) — Inflation in Britain unexpectedly fell in the year to June, official figures showed Tuesday in a development that’s eased market expectations that the Bank of England will raise interest rates soon. The Office for National Statistics said
The California Department of Business issued a new report that reveals seniors are the largest group among the almost half million Californians who took out a payday loan at interest rates of up to 30 percent last year.
At the World Economic Forum on Africa in Durban on Thursday, President Robert Mugabe of Zimbabwe bizarrely insisted his country is not poor or fragile, even though it chugs in at Number 25 on the U.N.’s Human Development Index for Africa.
Americans were paying less for the food they put on their table last year despite the widespread complaints of labor shortages and warnings about crops withering.
A nearly nonexistent inflation rate and low unemployment have helped propel Israel to the No. 3 spot on a list of the world’s most stable and promising economies for 2016 published by the Bloomberg financial news agency.
A labor department release from Friday revealed that the Consumer Price Index (CPI) dropped 0.3 percent in the month of March, the largest drop since prices fell 0.6 percent in January 2015. This is the first monthly decline in consumer price in 13 months.
The government of Venezuela has little over $10 billion of foreign reserves cash, CNN reports, suggesting it will soon run out of funds completely. The nation’s socialist government has vowed not to default on its debts but has done little to stop the rapidly growing hyperinflation and spread of poverty and hunger.
A socialist food distributor in Venezuela was arrested this week for keeping “faulty” food packages and selling them on the black market for 10,500 bolívars, about one-fourth of the state-mandated minimum wage monthly salary.
Socialist International has issued a statement condemning the socialist government of Venezuela for keeping political prisoners, collapsing the nation’s economy, and generally “reflect[ing] the characteristics of a failed state.”
Venezuela’s socialist dictator Nicolás Maduro announced a new 50 percent increase in the nation’s minimum wage, a move experts say will only serve to contribute to the collapse of the bolívar currency and push the nation deeper into hyperinflation.
The government of China has demanded that Venezuela make an effort to “restore social order” following a string of attacks against Chinese-owned businesses in cities like Bolívar, where the socialist government’s decision to invalidate the nation’s highest-denomination bolívar bill triggered riots that damaged hundreds of storefronts.
On the latest edition of In Contact with Maduro, Venezuelan President Nicolás Maduro’s television show, the socialist food distribution groups known as the CLAP debuted a personalized Christmas carol celebrating Maduro’s decision to allow Venezuelans to use 100 bolívar bills through January.
Venezuelans are looting shops, desperately lining up at banks, and burning their highest-denomination bolívar bills following a failure by President Nicolás Maduro to distribute new bills in light of the nation’s official descent into hyperinflation.
The Federal Reserve raised interest rates a quarter of a point on Wednesday for only the second time in a decade, and with an improved economic outlook, rates are now predicted to rise three times in 2017.