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Big COLA Announcement Expected Early Wednesday

Increase could be biggest in decades

(Newser) - Rising inflation is expected to lead to a sizeable increase in Social Security's annual cost-of-living adjustment, or COLA, for 2022. Exactly how much will be revealed Wednesday morning after a Labor Department report on inflation during September, a data point used in the final calculation. Over the last 10...

Stocks Slip as Investors Await Inflation Data
Stocks Slip as Investors
Await Inflation Data

Stocks Slip as Investors Await Inflation Data

Labor Department releases 2 big updates this week

(Newser) - Stocks ended an up-and-down day mostly lower on Wall Street as traders wait for more data on inflation and corporate earnings this week. The S&P 500, the Dow Jones Industrial Average, and the Nasdaq fell. Small-company stocks ended higher. A mix of retailers and other companies that rely on...

Inflation Forces Dollar Tree to 'Break the Buck'

Some items will now be $1.25 or $1.50

(Newser) - While the company isn't planning to change its name to "$1.50 Tree," Dollar Tree has heeded calls from investors to "break the buck" and raise prices for some items. Since its founding in 1986, when $1 was the equivalent of around $2.50 today, the...

Markets Slump Despite Good News on Inflation
Markets Slump Despite
Good News on Inflation

Markets Slump Despite Good News on Inflation

Dow dropped 292 points

(Newser) - Stocks went back to falling on Wall Street Tuesday after a blip higher the day before, giving the S&P 500 its sixth loss in the last seven trading days. The benchmark index lost 0.6%. The market had started higher after the latest data on inflation came in better...

What July's Inflation Numbers Suggest Is Coming

Consumer prices are up, but at the slowest pace since February

(Newser) - Prices for US consumers rose last month, but at the slowest pace since February, a sign that Americans may gain some relief after four months of sharp increases that have imposed a financial burden on the nation's households. The key numbers from Wednesday's report from the Labor Department,...

The Cost of Eating Out Just Jumped More Than It Has in 4 Decades

Grocery stores, vending machines also saw prices go up

(Newser) - The inflation data released Tuesday showed that prices are rising in the US at the fastest pace in 13 years—and when you look at the cost of eating out, the increase is even more dramatic. It increased 0.7% last month, a pace last seen four decades ago, in...

Prices Rising at Fastest Clip in 13 Years

Consumer prices in June up 5.4% over previous year

(Newser) - Prices for US consumers jumped in June by the most in 13 years, extending a run of higher inflation and fueling concerns that the rapidly rebounding economy is making goods and services increasingly expensive, per the AP . Tuesday's report from the Labor Department showed that consumer prices in June...

Inflation Is Rising, and the Stakes Are High
Inflation Is Rising,
and the Stakes Are High
the rundown

Inflation Is Rising, and the Stakes Are High

The big question is whether it's a temporary blip related to the pandemic

(Newser) - A new government report confirms what many Americans probably already noticed: Prices are rising for all kinds of things. The Labor Department said Thursday that inflation rose 5% in May when compared to the previous year, which is higher than expected and the biggest spike since the summer of 2008—...

Dow Drops 681 Points After Inflation Report
Dow Drops 681 Points 
After Inflation Report

Dow Drops 681 Points After Inflation Report

S&P 500 dived 2.1%

(Newser) - Stocks pulled back again on Wall Street Wednesday after a surprisingly big jump in inflation last month worsened worries among investors that the economy may run too hot as it bounces back from its pandemic-induced recession. Tech giants, which had soared during the past year of lockdowns, took some of...

We Haven't Seen Inflation Like This Since 2008

Consumer prices are up 4.2% over past 12 months

(Newser) - A worrisome bout of inflation struck the economy in April, with US consumer prices for goods and services surging 0.8%, the largest monthly jump in in more than a decade, and the year-over-year increase reaching its fastest rate since 2008. Over the past 12 months, consumer prices have jumped...

Markets Now in 'Digestion' Period
Markets Now in
'Digestion' Period

Markets Now in 'Digestion' Period

Dow drops 473 points as inflation fears grow

(Newser) - Stocks closed lower on Wall Street Tuesday, led by banks, industrial, and health care companies. Inflation remains a growing concern among investors, which would be a major drag on the overall market if it takes hold. the S&P 500 lost 0.9%. That, plus its losses Monday, outweigh the...

Inflation Fears Rattle Tech Investors
Inflation Fears Rattle
Tech Investors

Inflation Fears Rattle Tech Investors

'The good news to remember is there are other groups taking the baton'

(Newser) - Technology companies led stocks lower on Wall Street Wednesday as another rise in bond yields rattled investors. Higher bond yields can signal that inflation could be on the way as the economy picks up—and many believe the economy this year could see a rebound with growth coming in at...

Senator 'Rightly Roasted' for His Minimum Wage Take

In 'NYT,' Binyamin Appelbaum slams John Thune's 'innumeracy' for tale of once making $6 an hour

(Newser) - As the fight continued this week over whether to raise the federal minimum wage from $7.25 an hour to $15, GOP Sen. John Thune of South Dakota weighed in against such a hike with a story from his boyhood. He said he started out busing tables at a family...

Fed Chair Announces Big Change on Interest Rates

Jerome Powell says Fed will keep rates near zero, even after inflation exceeds 2%

(Newser) - The Federal Reserve announced a significant change Thursday in how it manages interest rates by saying it plans to keep rates near zero even after inflation has exceeded the Fed's 2% target level. The change signifies that the Fed is prepared to tolerate a higher level of inflation than...

Fed Chief Indicates We're In for a Rate Cut

Possibly as soon as the July meeting

(Newser) - The S&P 500 crossed the 3,000 threshold for the first time ever Wednesday, as expectations for a July rate cut rise, reports CNBC . Federal Reserve Chairman Jerome Powell said Wednesday that "many" Fed officials believe a weakening global economy and rising trade tensions have strengthened the case...

Fed Lifts Interest Rates, Expects 3.6% Unemployment

Fed: US economy has strengthened considerably since the 2007-2008 recession and is in 'great shape'

(Newser) - The Federal Reserve has hiked the short-term interest rate a quarter of a percentage point, to a range of 1.75% to 2%, and suggested that two more increases are likely to occur this year, for a total of four in 2018, reports CNBC . The rate is closely tied to...

More Market Turmoil? Inflation Higher Than Expected

Investors may not be happy because it could lead to a hike in interest rates

(Newser) - Given the markets' recent volatility, investors were keeping a closer eye than usual on Wednesday's new inflation report—and they may not be thrilled with the data. The consumer price index showed that prices for everyday goods rose slightly higher than expected in January, reports the Wall Street Journal ...

Fed Jacks Key Rate for 2nd Time in 3 Months

And signals more hikes are ahead in 2017

(Newser) - The Federal Reserve has raised its benchmark interest rate for the second time in three months and signaled that any further hikes this year will be gradual. The move Wednesday reflects a consistently solid US economy and will likely mean higher rates on some consumer and business loans. The Fed'...

Yellen Could Stay Mum on One Big Question Today

Congress sure to ask about Fed's possible reaction to Trump's economic plan

(Newser) - Federal Reserve Chair Janet Yellen faces two tasks when she delivers her semiannual testimony to Congress starting Tuesday: As always, she'll sketch a picture of how she expects the economy to fare in coming months and how the Fed's interest rate policy may unfold. (In December, the Fed...

As Trump Takes Stage, Mexico's Peso Tanks

Already in freefall, uncertainty causes peso to hit an all-time low

(Newser) - The Mexican peso hit an all-time low against the dollar Wednesday shortly after President-elect Donald Trump took the stage, reports Reuters , falling to 22 pesos on the dollar. The peso was already in freefall, dropping 2% on Tuesday and almost 16% against the dollar since Trump's election victory amid...

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