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 …
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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as Americans grappled with substantial increases in the cost of gasoline and food, but said the reading was “already out of date” because of falling energy prices.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”
Listen to Biden Jerk us off. The ONLY purpose of his Middle East trip is to beg for oil…. Washington (AFP) – US President Joe Biden said Saturday he aims to “strengthen a strategic partnership” with Saudi Arabia during a controversial visit there next week, but added that he will hold true to “fundamental American …
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Federal Reserve Bank of Atlanta President Raphael Bostic participates in a panel discussion at the American Economic Association/Allied Social Science Association (ASSA) 2019 meeting in Atlanta, Georgia, U.S., January 4, 2019. REUTERS/Christopher Aluka Berry July 8 (Reuters) – Atlanta Federal Reserve Bank President Raphael Bostic, until recently among the central bank’s most dovish policymakers, on …
Continue reading “Fed’s Bostic calls for 75 basis point interest rate hike in July”
Nonfarm Payrolls in the US rose by 372,000 in June, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading followed May’s increase of 384,000 (revised from 390,000) and came in better than the market expectation of 268,000. The Unemployment Rate remained unchanged at 3.6% as expected. Further details of …
Continue reading “US nonfarm payrolls beat estimates in June…. FED rate increases full steam ahead”