Tomorrow should be an interesting time. It could be the start of a renewed rise in the inflation rate. After 12 consecutive months of a slowdown in the growth of inflation, the American people could see a jump. According to the Federal Reserve Bank of Cleveland’s Inflation Nowcasting model, the annual consumer price index (CPI) […]
Inflation
Got stagnation? Services sector slows, price pressures tick up
Goodbye, recession forecasts. Hello, stagnation? This is the word on Wall Street today after the Institute for Supply Management (ISM) Services Purchasing Managers’ Index (PMI) slowed to 52.7 in July, down from 53.9 and below the consensus estimate of 53. One notable component of the monthly print is that services employment plummeted to 50.7, down […]
RFK Jr. wants to back the U.S. dollar by Bitcoin, gold to ‘restore strength’ in the buck
Longshot 2024 presidential candidate Robert F. Kennedy Jr. wants to back the U.S. dollar with Bitcoin and gold. Kennedy announced his latest public policy proposal that tackles fiat money. He proposed beginning his initiative by backing hard currency with gold, silver, platinum, or Bitcoin, with the idea being to strengthen the greenback and fight inflation. […]
Bidenomics: Fourth of July cookout 15% more expensive under Biden than Trump
Ouch. As you enjoy your Fourth of July barbecue, it is hard to forget that this probably was one of the more expensive ones. According to a new analysis from the American Farm Bureau Federation (AFBF), families are paying 15 percent more for their Independence Day cookout under President Joe Biden than they did under […]
Federal Reserve’s preferred inflation gauge remains stubborn at 4.6% in May
Headline inflation comes down, but the Federal Reserve’s preferred inflation gauge is struggling to decline. The personal consumption expenditure (PCE) price index eased to 3.8 percent year-over-year in May, down from 4.3 percent in April. PCE rose 0.1 percent, down from 0.4 percent. Core PCE, which is the central bank’s top inflation measurement, dipped to […]