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Hammack Says Fed May Need to Act Soon Against High Inflation
Federal Reserve Bank of Cleveland President and CEO Beth Hammack
Trump’s economic chief says inflation is falling. Data says otherwise
Trump’s economic chief says inflation is falling. Data says otherwise In April, inflation reached its highest level in three years - Bookmark American households are once again feeling the squeeze as inflation, after a period of gradual cooling, is on the ascent, making essential goods like gas and groceries increasingly unaffordable. In April, inflation reached 3.8 percent from a year earlier, marking its highest level in three years.
Strong US job growth beats expectations in May, firming recent gains
Strong US job growth beats expectations in May, firming recent gains WASHINGTON: US job growth surged past expectations in May with the unemployment rate remaining steady, as the labour market in the world's largest economy showed signs of firming after months of turbulence. Wall Street stocks traded lower on the news, with investors expecting a strong labour market means the Federal Reserve will switch its focus to combating inflation through rate hikes later this year.
New U.S. college grads now have higher unemployment than the average worker
New U.S. college grads now have higher unemployment than the average worker Part of Teaching an AI Agent to Make Beautiful Charts A fresh college degree used to come with a quiet edge in the job market. New grads had better odds of landing work than the average worker, and that edge held for as long as anyone tracked it.
Hot jobs report puts Fed cuts further out of reach as Chair Warsh faces policy tests
Another big jobs report in May has pretty much swept aside the possibility of interest rate cuts anytime soon — and in the process underscored the tricky policy path ahead for new Federal Reserve Chair Kevin Warsh. The chance of rate reductions already had been on life support heading into Friday's nonfarm payrolls report. But the unexpectedly strong gain of 172,000, compounded by sharp upward revisions for prior months, makes the case for policy easing even weaker, particularly considering...
May jobs report expected to show growth in an economy squeezed by inflation
The jobs report for May, set to be released Friday morning, is expected to show that hiring has remained steady despite growing inflation and energy prices triggered by the ongoing war in Iran. Economists polled by Dow Jones believe that the U.S. economy will have added 80,000 positions in May and that the unemployment rate will be unchanged, at a low 4.3%. Average hourly earnings, which fell below the rate of inflation in April, are expected to rise 0.3%.
May inflation is expected to have jumped as the Iran war sent prices higher
Inflation is likely to have increased for a third straight month in May as the war with Iran sent energy prices higher and ratcheted up pressure on U.S. consumers. The Bureau of Labor Statistics’ Consumer Price Index for last month will be released at 8:30 a.m. ET Wednesday. Economists surveyed by Dow Jones expect it will show the annual rate of inflation hit 4.2%, well above the 2.4% level it hit before the war and its highest point since early 2023.
100 days into Iran war, Americans face higher prices
100 days into Iran war, Americans face higher prices On average, US households have spent $750 more in expenses due to the war, hitting middle- and lower-income people hard. A hundred days into the US-Israel war on Iran, Americans are facing increasing financial pressure at the pump and at the grocery store in an economy already facing headwinds from United States President Donald Trump’s domestic and foreign policies, including tariffs. The war is unpopular, with 66 percent of Americans...