German Producer Prices Post Highest Increase on Record Germany’s producer prices rose strongly in July, driven by higher energy prices, posting the biggest increase ever recorded, the German statistics office Destatis said. Producer prices rose 37.2% on year in July, the German statistics office Destatis said Friday. This follows a 32.7% increase in June and …
Continue reading “Producer prices in Germany rise 32.7% in July”
“We should continue to move quickly towards a level of key rates that will exert significant downward pressure on inflation,” said the chairman of the Federal Reserve of St. Louis. A US central bank (Fed) official said on Thursday that another sharp rate hike seems necessary at the September meeting, as inflation is still very …
(Reuters) -The recent easing of U.S. financial conditions, including a surge in stock prices, may have been based on an overly optimistic sense that inflation was peaking and the pace of interest rate increases was likely to slow, Kansas City Federal Reserve President Esther George said on Thursday. In comments to a Kansas City …
Continue reading “Rate hikes to stop when inflation on way down – Fed’s George”
The housing cycle—which began its upward climb in 2011—has officially turned over. Simply put: We’ve moved into a housing recession. Homebuilders broke ground on 982,000 single-family homes in June. That’s down 19% since February, and down 16% from the same month in 2021. While it’s hardly a “blow out,” it’s clear builders are cutting back. …
This ASSHOLE 9 months ago was calling inflation temporary. Now he is talking about “tapping” the breaks…. Try brace yourself for anti lock break deployment as the economy goes through the guard rail and off a cliff……. listen for yourself!! Federal Reserve Bank of Minneapolis President Neel Kashkari stated on Thursday that the central bank’s …
Continue reading “Tightening will ‘tap breaks’ on economy – Fed’s Kashkari”
Sales of previously owned homes in the United States fell by 5.9% in July against the prior month, as more buyers shied away from increasing mortgage rates and soaring prices. According to data from the National Association of Realtors, total existing home sales sagged for the sixth straight month to a seasonally adjusted annual rate …
Continue reading “US existing home sales plunge by 5.9% in July”
(Bloomberg) — President Joe Biden won temporary permission to once again pause energy leasing on federal lands and waters, after a US appeals court found a trial judge’s order against the moratorium too vague to review. The court on Wednesday threw out the judge’s nationwide injunction forcing a restart of leasing from the Gulf of …
US stock-index futures fell as concerns over the Federal Reserve’s aggressive rate-hike path outweighed robust corporate earnings and China’s stimulus plans. September contracts on the S&P 500 Index slipped 0.8% after the equity benchmark posted modest gains Tuesday amid a rally in retailer stocks. Nasdaq 100 futures retreated 0.9% signaling a selloff in technology names …
Continue reading “US Futures Tumble as Fed Worries Outweigh Earnings”
Haitham Al-Ghais says Chinese consumption fears are overdone Oil market could comfortably absorb extra Iranian supplies Global oil markets face a high risk of a supply squeeze this year as demand remains resilient and spare production capacity dwindles, the new head of OPEC said. Fears over slowing consumption in China and the wider world — …
CEO confidence tumbles again, down for 5th consecutive quarter NEW YORK, Aug. 17, 2022 /PRNewswire/ — The Conference Board Measure of CEO Confidence in collaboration with The Business Council declined for the fifth consecutive quarter in Q3 2022. The Measure now stands at 34, down from 42 in Q2. The Measure has fallen deeper …
Continue reading “CEO Confidence Deteriorated Further in Q3”