12-month headline inflation peaks at 9.1%, core slows further to 5.9%. Headline inflation in the backward looking CPI has peak at 9.1%. The more important Core CPI inflation, in contrast, has peaked in March at 6.5% and has fallen further in June down to 5.9% in the current print. Funny what the forget to tell …
Continue reading “Inflation has peeked… Its the massive deflation a panic FED has created”
P rices of oil futures fell on Thursday as recession fears continued to mount, prompted by the latest report on the United States inflation. The elevated figures could potentially lead to more aggressive rate hikes from the Federal Reserve, which would, in turn, affect the growth of the global economy and tamp down the demand …
https://youtu.be/i5SDm4I7Jko US bls Says “Leaked” 10.2% CPI Report Was Fake US Department of Labor Says “Leaked” 10.2% CPI Report Was Fake. The US CPI report will be the main highlight tomorrow, and will also serve as what JPMorgan calls a “market clearing event.” While the BBG median consensus expects +8.8% YoY vs. +8.6% in June, …
Continue reading “Fake June CPI Report “Leaked” market dropped hard then recovered”
Thomas Barkin, president of the Richmond Federal Reserve, says it’s hard to get a true read on the state of the U.S. economy because of conflicting signals. “The strength of consumption and the labor market might be saying ‘hold’ or even ‘raise rates,’” Barkin said at an economic outlook conference in Baltimore Tuesday. But “the …
Continue reading “Fed Official: Mixed Signals Mean We ‘Could Talk Ourselves Into a Recession’”
Crude oil inventories in the United States rose by 4.762 million barrels in the week ending July 8, private data from the American Petroleum Institute (API) reportedly showed on Tuesday. The stocks of distillates gained 3.262 million barrels. On the other hand, the supply of gasoline increased by 2.927 million barrels. West Texas Intermediate (WTI) …
While gasoline prices are still $1.50 higher per gallon than they were this time last year, they fell sharply overnight in what was the largest one-day drop in nearly 15 years, according to AAA data. The current price for a gallon of gasoline in the United States is averaging $4.721 on Friday, down from $4.752 …
Continue reading “Gasoline Prices See The Largest Drop In Nearly 15 Years”
The quickly changing coronavirus has spawned yet another super contagious omicron mutant that’s worrying scientists as it gains ground in India and pops up in numerous other countries, including the United States. Scientists say the variant – called BA.2.75 – may be able to spread rapidly and get around immunity from vaccines and previous infection. …
The White House expects June’s consumer price index figures to be “highly elevated” as Americans grappled with substantial increases in the cost of gasoline and food, but said the reading was “already out of date” because of falling energy prices. “Gas and food prices continued to be heavily impacted by the war in Ukraine,” press …
Continue reading “WH: CPI data expected to be ‘highly elevated’”
LONDON/FRANKFURT (Reuters) – The biggest single pipeline carrying Russian gas to Germany started annual maintenance today, with flows expected to stop for ten days, but governments, markets and companies are worried the shut-down might be extended due to war in Ukraine. The Nord Stream 1 pipeline transports 55 billion cubic metres (bcm) a year of …
Continue reading “Nord Stream halts gas to Europe as servicing begins”
Europe failed to prioritize energy security and has now found itself overly reliant on Russian energy and paying sky-high prices for power France is dealing with this issue by renationalizing its largest utility in order to ensure the survival of nuclear power. Germany, which is arguably the country that has suffered most from energy security …
Continue reading “Europe’s Renewable Energy Mistake will throw the content into poverty and turmoil”