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The Latest Breaking News from Inflation

RBA's rate hikes creating inflation, Ross Garnaut says, calling for radical overhaul of economic policy

Pointing to big changes that have greatly affected Australia's capacity to deliver rising standards of living, top economist Ross Garnaut calls for a major policy overhaul.

ABC News

Bernie Sanders unveils plan for $17-an-hour US minimum wage

‘In the richest country in the history of the world, nobody should be forced to work for starvation wages,’ Vermont senator says

The Guardian - US

Stocks Undercut as Regional Bank Stocks Plunge

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.70%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -1.00%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.34%. U.S. stocks this morning are moderately lower, with the...

Barchart

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3 Stocks to Protect Your Portfolio Amid Inflation Concerns

Despite showing signs of cooling down, inflation remains a concern for the Fed as it is far off its 2% target. Investors looking to secure their portfolios against the expected market volatility due to the still-high inflation could consider fundamentally strong and dividend-paying stocks AstraZeneca (AZN), McDonald’s (MCD), and Flowers…

StockNews.com

Nigeria's fuel subsidy: it's time to kill it and spend the money in ways that benefit the poor

Nigerians are being hit from all sides by a combination of factors that are making their lives increasingly difficult. These include rising cost of living which is reflected in double-digit inflation, stagnant wages, non-payment or the late payment of salaries, a cash crunch and fuel scarcity.

The Conversation

‘’We are not pausing’: Lagarde says ECB isn’t finished after raising rates by a quarter point

The European Central Bank has raised rates by a quarter of a percentage point, in a hike that its president Christine Lagarde signaled was unlikely to be the last.

Evening Standard

European Central Bank chief suggests firms are engaging in ‘greedflation’

Comments by Christine Lagarde come after central bank raises interest rates for seventh time in succession

The Guardian - UK

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Prom price index shows cost of celebration is getting relatively cheaper – even at a time of high inflation

Going to the prom can be an expensive affair for cash-strapped teenagers. Past estimates and surveys put the average cost anywhere from US$600 to $1,000 or more. Some teens reportedly spend upward of $2,000 on the traditional dancing ritual at the end of high school – and that’s not including…

The Conversation

Europe's central bank weighs jumbo rate hike after Fed slows

The European Central Bank is deciding how big to go with its interest rate hike

The Independent UK

Corporate Earnings Show Consumer Companies Have Pricing Power

Higher interest rates haven’t stopped shoppers from spending, in a worrying sign for inflation.

Businessweek

I Got My Numbers Boyfriend To Explain Exactly Why HELP Debts Are Increasing By 7.1%

HECS debts. HELP debts. Indexation. Consumer price indexes. INFLATION. Some of us didn’t go to school for maths and numbers, so the mere sight of such mathematical words causes our brains to shut down faster than MilkRun on a Tuesday in April. And so, I called up my engineer boyfriend…

Pedestrian.tv

Stock market today: Asian markets higher after US rate hike

Asian stock markets are mostly higher after the Federal Reserve raised its benchmark lending rate again to cool inflation and said it isn’t sure what may come next

The Independent UK

US central bank lifts rates to highest in 16 years

The Federal Reserve has raised interest rates by a quarter of a percentage point and signalled it may pause further increases.

The New Daily

Hollywood Writers' Strike By The Numbers — And How Inflation Fits In

After six weeks of negotiations with the Alliance of Motion Picture and Television Producers, the Writer's Guild of America went on strike.

Kiplinger

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Bangkok Post

Sell in May? Possibly!

'Sell in May and go away" is an old market saying that is likely to ring true this year. Several risk factors have emerged, such as small US banks facing deposit outflows and central banks continuing to raise their interest rates amid stubbornly high inflation.

Bangkok Post

Inflation likely to dip on low fuel rates

The Commerce Ministry is maintaining its 2023 forecast for average headline inflation in a range of 1.7-2.7%, after cutting it last month from 2-3%.

France 24

Federal Reserve hikes interest rates for 10th time, signals pause

The US Federal Reserve has hiked interest rates for the tenth time in a row, bringing the key lending rate to its highest level since 2007. But the central bank has signalled it could pause further rate hikes, as inflation eases and turmoil continues to spread across the American banking…

Barchart

Stocks Retreat as Powell Dashes Hopes of Fed Rate Cuts

What you need to know… The S&P 500 Index ($SPX ) (SPY ) Wednesday closed down -0.70%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -0.80%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.64%. Stock indexes Wednesday gave up early gains and closed...

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The New Daily

Alan Kohler: Why this week’s RBA meeting was different

Jim Chalmers is touting 'responsible' spending. Can it be “responsible” in the context of the battle by the RBA to slay inflation?

Kiplinger

Fed Lifts Interest Rates Yet Again: What the Experts Are Saying

Although the Fed raised interest rates for a 10th consecutive meeting, it finally opened the door to a pause in its tightening campaign.

Axios

Fed raises interest rates, hints possible end to series of hikes

The Fed signaled that it could pause rate hikes after this meeting, though it left the door open to another increase.

The Conversation

Fed rate hikes, recession fears and political backlash leave ESG investors at a crossroads

The Federal Reserve raised interest rates again on May 3, 2023, by a quarter point, making it the Fed’s 10th rate hike since March 2022 in an ongoing fight to tame inflation. These rate hikes have been reverberating through the economy, raising prospects of a recession amid heightened concerns about…

The Independent UK

Fed raises interest rates again but hints it may pause amid bank turmoil

The Fed’s rate increases have more than doubled mortgage rates, elevated the costs of auto loans, credit card borrowing and business loans and heightened the risk of a recession

WEKU

The Fed raises interest rates again in what could be its final attack on inflation

The Federal Reserve raised interest rates by a quarter percentage point Wednesday in an effort to curb persistent inflation. It was the tenth rate hike in 14 months, and possibly the last for a while.

The Guardian - US

US Federal Reserve votes to increase interest rates to 16-year high

Rise in benchmark interest rate is 10th hike since March 2022, when the Fed started its rapid inflation-fighting campaign

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