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The Latest Breaking News from Inflation

Powell says nearly all Fed officials expect ‘some’ additional rate increases

WASHINGTON — Federal Reserve officials paused on Wednesday following 15 months of interest-rate hikes but signaled they would likely resume tightening at some point to cool inflation.

Tribune News Service

Fed pauses interest rate hikes but signals more tightening ahead

WASHINGTON: The United States Federal Reserve voted Wednesday to pause its aggressive campaign of interest rate hikes despite "elevated" inflation, while indicating a sharp increase could be needed before the end of the year.

Bangkok Post

Why the Federal Reserve's epic fight against inflation might be over

The Federal Reserve’s decision to hold rates steady signals that central bankers believe it is time to hit pause, at least temporarily, on their aggressive campaign to tame runaway inflation.

The Conversation

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Stock Market Today: Stocks Swing After Fed Signals More Rate Hikes

The Fed stood pat on interest rates this time around but the central bank's hawkish outlook made for a volatile afternoon.

Kiplinger

Fed keeps rates unchanged for first time in 15 months as inflation slowly eases

The Federal Reserve’s move to leave its benchmark rate at about 5.1% suggests that it believes the much higher borrowing rates it’s engineered have made some progress in taming inflation.

Chicago Sun-Times

Corporate ‘greedflation’ could lead to a ‘deeper for longer’ recession, top investment bank strategist warns

Greedflation may force the Federal Reserve to keep interest rates “higher for longer” to fight inflation, pushing the economy into recession.

Fortune

Fed Leaves Interest Rates Unchanged: What the Experts Are Saying

The Federal Reserve stood pat on interest rates but left the door open to future hikes.

Kiplinger

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Base boost: On inflation and the consumer

Policymakers have their task cut out to convince consumers that inflation will be tamed so as to not erode their purchasing power and savings

The Hindu

60-day freeze on prices imposed in U.S.

Fifty years ago, U.S. President Nixon ordered a 60-day freeze on all prices, including those of food, in a bid to arrest the nation’s worst bout of peacetime inflation in 25 years

The Hindu

‘This is going to sting’: What will mortgage chaos mean for homeowners and renters?

Current rates of nearly 6 per cent causing equivalent ‘stress’ to double-digit rates of 1980s, Andy Gregory writes

The Independent UK

Taking a breather: Fed holds interest rates steady in patient battle against inflation

After 10 straight rate hikes, the Federal Reserve left interest rates unchanged Wednesday, but hinted that additional rate hikes are possible if inflation remains stubbornly high.

WEKU

Federal Reserve officials announce pause in US interest-rate hikes

Even with the pause, Fed officials suggest further increases may come depending on how close economy gets to 2% inflation target

The Guardian - US

The Guardian view on Rishi Sunak’s economics: recession is an acceptable price to pay

Editorial: Growing the economy by shrinking it first is a high-risk political strategy

The Guardian - UK

How Section 45X Is Revolutionizing Domestic Electric Vehicle Production

Section 45X under the Inflation Reduction Act makes EV manufacturing attractive for OEMs with billions of dollars in incentives.

InsideEVs

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Manchester Evening News

Sainsbury’s cuts price of essential household item by up to 11%

A drop in wholesale prices has allowed the supermarket chain to significantly cut the costs of a household essential

Kiplinger

U.S. Debt on Course to Balloon Before It Shrinks: Kiplinger Economic Forecasts

See why U.S. debt will continue to rise, thanks to factors such as inflation, Medicare, and Social Security spending.

Birmingham Post

Rise in UK insolvencies blamed on issues such as inflation and lack of government support

The worst affected areas have seen a fivefold increase

The Independent UK

Inflationary pressures continue to ease, producer prices drop 0.3%

Wholesale prices in the United States dropped 0.3% from April to May, another sign that inflationary pressures continue to ease in the face of repeated interest rate hikes by the Federal Reserve

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The Independent UK

What you should know as the Fed nears the peak of its rate-hiking cycle

The Federal Reserve’s likely decision Wednesday afternoon to leave interest rates alone for the first time in 11 meetings will raise hopes that it may be nearing the end of its rate-hiking campaign to cool inflation

The Week

Who will get the blame for UK mortgage misery?

The government has ordered banks to protect people struggling to pay their mortgages as interest rates were predicted to rise as high as 6% by the end of the year.

The Guardian - UK

UK has no choice but to raise interest rates to curb inflation, says Jeremy Hunt

Chancellor gives unstinting support to Bank of England as households brace for borrowing costs to rise again

Fortune

What CFOs need to know about the latest inflation and wage growth data

Economists weigh in on interest rates and new research that points to labor costs having a small effect on overall inflation.

StockNews.com

3 Gold Stocks to Buy for June

Gold is considered a hedge and safe-haven asset in periods of high inflation and economic uncertainty. Amid a volatile economic backdrop, it could be wise to add fundamentally strong gold stocks Eldorado Gold (EGO), Centamin (CELTF), and New Gold (NGD) to your portfolio this month for stable returns and diversification…

Daily Mirror

Sainsbury's cuts price of everyday essential product across all UK stores

The price of its two-pack Super Soft White Toilet Tissue Double Rolls has been reduced by 21p, from £1.90 to £1.69, while the four-pack version has been cut by 33p, from £3.25 now £2.92

The Independent UK

How the buying power of £2 coin has shrunk in 25 years since launch

A £2 coin will buy significantly fewer everyday items than it would have done when it launched in June 1998, according to research by M&G.

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