Economy

Yesterday was all about the CONSUMER Price Index (CPI), which helped mortgage rates drop at the 2nd fastest pace of the year.  Today brough the PRODUCER Price Index (PPI), and the message was a bit different. While PPI is not in the same league as CPI in terms of its impact on rates, there have been several recent examples that have…

By the time President Joe Biden’s four-year term ends next January, it’s increasingly likely he’ll be able to say, "No recession happened on my watch."The last recession was the deep but short COVID downturn that ran from February to April of 2020, during Donald Trump’s fourth year as president. The economy has mostly expanded since, and…

By Lewis Krauskopf(Reuters) - A look at the day ahead in Asian markets.Thursday's U.S. inflation report could test markets, with consensus coalescing around the first Federal Reserve rate cut of this cycle in September.The consumer price report for June is expected to show an annual change of 3.1%, moderating from 3.3% the prior month. As it…

Federal Reserve Chair Jerome Powell kicked off his semiannual update to Congress on Tuesday, appearing before the Senate Banking Committee. He will appear before the House Financial Services Committee tomorrow.Yahoo Finance's Jennifer Schonberger has the story:Powell indicated the central bank is inching closer to feeling comfortable about…

Student visas that led to work permits, permanent residency and then citizenship offered a straight and easy path to settle down in a Western country where Indians could enjoy a higher standard of life. In pursuit of this dream, hordes of Indian youth chose to head to Canada in recent years. But now the dream is souring. High property prices,…

For a run down of the NFP, market moves, and implications, check this out:On Sunday Wall Street Journal Fed watcher Timiraos said the result boosted the chance of a Federal Open Market Committee (FOMC) rate cut at the September meeting, due to:the unemployment rate ticked up to 4.1%, a sign of slack in a labor market that has already shown some…

Via Metal MinerClearly, China's economy is not yet back on the recovery track, as evidenced by the mixed bag of data for May released on Monday. According to data from the National Bureau of Statistics (NBS), industrial production in China saw a 5.6% increase in May 2024 compared to May 2023. However, overall production was also down from…

Halfway through the year, and four years removed from the downturn set off by the coronavirus pandemic, the U.S. job engine is still cruising — even if it shows increased signs of downshifting.Employers delivered another solid month of hiring in June, the Labor Department reported on Friday, adding 206,000 jobs in the 42nd consecutive month of…

So, now with the NBR correction, a new shocking reality has hit us hard – our exports are not as much as was touted The truth is finally out here. Our exports are not as much as they are shown. It is at least $10 billion less. The mystery of export data mismatch was finally resolved yesterday after the National Board of Revenue…

While the four-day workweek has picked up steam in many European countries and even at some U.S. companies, Greece is going in the opposite direction.The country’s new legislation, which took effect this week, introduced a six-day workweek for businesses that operate 24 hours with the goal of boosting productivity. Workers have the option to…