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The Latest Breaking News from Inflation

Inflation, the Economy, and Political Ignorance

Public ignorance has a big impact on voter atttudes on a major issue in the 2024 election.

Reason

BlackRock’s bond guru Rick Rieder says the Fed’s favorite inflation firefighting strategy is failing—‘the private sector has become a creditor now’

“It’s ambiguous to me today, at best, whether a higher [interest] rate helps bring down inflation versus actually contributes to it,” Rick Rieder told Fortune.

Fortune

Housing hit ‘rock bottom’ this year, but a top real estate CEO sees improvement over the next several months

Weekly mortgage rates just fell below 7%, a “milestone” in the housing world, according to Redfin’s Glenn Kelman.

Fortune

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London rental crisis: capital’s insecure workers 'hit hardest' by 11% rent hikes

Experts and campaigners sound the alarm over runaway rental inflation

Evening Standard

3 Retail Stocks to Avoid in May

Persistent inflation and high interest rates are significantly affecting consumer spending. Despite this, the retail industry is set for long-term profitability, driven by shifting consumer tastes, technological innovations, and e-commerce growth. Amid this, retail stocks Grocery Outlet (GO), Dollar Tree (DLTR), and Dollar General (DG) are best avoided now. Read…

StockNews.com

‘I’m the king and I will destroy you!’: Argentinian president stages frenetic stadium appearance

Javier Milei stuns nation with book release party-cum-rock concert described as ‘pagan mass’ in famed Buenos Aires venue

The Guardian - US

Parliament was in the middle of discussing some very important laws before the election was called – what happens to them now?

Just hours before Rishi Sunak fired the starting gun for the 2024 general election, the House of Commons was in full flow, listening to treasury minister Bim Afolami announce that inflation has fallen, and firing questions at the prime minister.

The Conversation

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Sir Keir Starmer will struggle to win a Commons majority of more than 60, says Ed Balls

But the Good Morning Britain presenter believes the Labour leader will win a majority in the general election on July 4

Evening Standard

Why Is the Economy So Weird Right Now?

Plus: Samuel Alito's bad flags, simping for marijuana, and more...

Reason

A burnout crisis is hitting doctors across the U.S. and it could spell disaster for health care

Pay increased nearly 6% in 2023—not enough to account for inflation and low reimbursements, found Doximity.

Fortune

Jamie Dimon says there's a chance the Fed could further hike rates instead of cutting

"Do I think that rates can go up a little bit? Yes I do. And if they do is the world prepared for it? Not really."

Fortune

Influential survey offers hope Bank of England may cut interest rates in August

High services inflation has prevented the Bank of England from cutting rates so far, but it may finally be coming down

Evening Standard

Do You Feel More Negative These Days? Blame the Algorithm

Consumer sentiment is more negative today than it was during the Great Financial Crisis in 2008. Could the difference be the rise of social media’s influence?

Kiplinger

Singapore's April Core Inflation Matches Forecasts At 3.1%

Learn about Singapore's April core inflation rate of 3.1% and its implications on the economy.

Top News

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The Independent UK

Stock market today: Asian shares are mixed, with China stocks down, after Wall St retreat

Asian shares are trading mixed, as investor sentiment in Tokyo was boosted by news in the U.S. about soaring Nvidia earnings

The Guardian - UK

Thursday briefing: How a day of fevered general election speculation unfolded

In today’s newsletter: From a drop in inflation, to Cameron’s cancelled sojourn to Tirana. Now can Rishi Sunak persuade people that being ‘back to normal’ is enough?

International Business Times

Asian Shares Mixed After Fed Minutes, While Nvidia Provides Support

Asian markets diverged Thursday after minutes from the Federal Reserve's most recent policy meeting indicated officials would keep interest rates elevated for some time as they struggle to bring inflation down to target.

Latin Times

Perception vs. reality: Poll reveals majority of U.S. citizens mistakenly feel the nation is in recession

Republicans and independent voters are more likely to believe this, the survey shows

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Fortune

Walmart and Target earnings pull back the curtain on an America struggling with high inflation

“Many consumer pocketbooks are still stretched,” Walmart CFO John Rainey told analysts. “We see the effect of that in our business mix.”

Fortune

The new quiet luxury is burgers and fries: Over 60% of Americans are buying less fast food because it’s just too expensive, survey finds

“We're in this inflationary mental cycle as much as we are an inflationary reality cycle,” Columbia professor Stephen Zagor tells Fortune.

International Business Times

US Fed's Rate Meeting Minutes Show Growing Inflation Concerns

A strong US economy and an uptick in inflation led the Federal Reserve's rate-setting committee to conclude that progress against rising prices had stalled, according to minutes of its most recent meeting published Wednesday.

Barchart

Stocks Retreat on the Hawkish FOMC Minutes

The S&P 500 Index ($SPX ) (SPY ) Wednesday closed down -0.27%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -0.51%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.05%. US stock indexes on Wednesday closed moderately lower, with the Dow Jones Industrials falling...

Barchart

Dollar Posts a 1-Week High and Gold Falls on Hawkish FOMC Minutes

The dollar index (DXY00 ) Wednesday rose by +0.28% and posted a 1-week high. Higher T-note yields Wednesday supported moderate gains in the dollar. Also, the weakness in stocks on Wednesday boosted some liquidity demand for the dollar. The dollar extended its gains Wednesday afternoon on the hawkish minutes of...

The Guardian - UK

Rishi Sunak’s election call means he thought the worst was yet to come

The polls show no sign of narrowing and insiders believe an IMF warning of a £30bn hole in the finances was weighing heavy

The Independent UK

Federal Reserve minutes: Policymakers saw a longer path to rate cuts

After several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take longer than they previously thought for inflation to cool enough to justify reducing their key interest rate, now at a 23-year high

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