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The Latest Breaking News from Inflation

Don't hold your breath for lower mortgage rates

Inflation has put the Fed squarely on the path toward higher interest rates.

Axios

Americans are paying more and getting less as inflation hits home

Rising inflation has meant fewer restaurant meals, getaways and even doctor visits for many Americans, as nearly 4 in 10 say their family finances have gotten worse in the last year.

WEKU

Asian stocks follow Wall St lower amid inflation pressure

Asian stock markets have followed Wall Street lower after higher-than-expected U.S. inflation dashed hopes the Federal Reserve might ease away from more interest rate hikes

The Independent UK

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Interest rates all but certain to rise in October but end of big hikes nearing, RBA governor says

Reserve Bank board will consider either a 25 or 50 basis point rise at next month’s meeting, Philip Lowe tells MPs

The Guardian - AU

Apple counts on upscale shoppers to turn latest iPhone into hit

The latest iPhone hits stores in many countries, including Thailand, on Friday, and Apple Inc is counting on well-heeled shoppers to make the device a hit during a year of roaring inflation and shaky technology spending.

Bangkok Post

What we keep getting wrong about inflation

Inflation needs a monetary response, whereas the energy crunch should be met with support for struggling households

Financial Times

Sri Lanka's crisis pushes war-shattered Tamils to the brink

Under a blazing sun, a 44-year-old Tamil labourer tended his rented patch of peanut field in Sri Lanka, striking his spade against the earth in a daily struggle to beat inflation that has put many necessities out of reach.

Reuters

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RBA urges fiscal reform

The Reserve Bank has urged the government to not use the national credit card to pay for services.

The Canberra Times

More interest rate rises ahead but pace of increase set to slow, RBA governor says

Reserve Bank governor Philip Lowe says he will keep lifting interest rates but the pace will soon slow down and he is confident the economy can absorb the rises.

ABC News

3 Retail Stocks to Cut From Your Portfolio Before Things Gets Worse

With inflation hovering near a 40-year high, the specialty retail industry is crippling. Since persistent economic headwinds make the industry’s prospects bleak, we think fundamentally-weak retail stocks GameStop Corp. (GME), Five Below (FIVE), and Wayfair (W) are best avoided now. Read on….

StockNews.com

Founder Of World's Largest Hedge Fund Rails Against Fed, Predicts 20% Stock Plummet

The Federal Reserve's raising of interest rates could bring the economy "down," according to billionaire Ray Dalio. In a recent LinkedIn post, the Bridgewater Associates founder said increasing interest rates to about 4.5% — meant to offset inflation — will cause stock prices to plummet by 20%.

Benzinga

Soft retail sales, fewer jobless claims paint mixed US economic picture

A barrage of data Thursday offered a mixed view of the U.S. economy in the face of rapid inflation, including more tempered retail activity and a labor market that’s still vibrant.

Tribune News Service

What exactly is the review of the Reserve Bank of Australia hoping to discover?

Here are four key areas to watch ahead of the review making its recommendations to the treasurer

The Guardian - AU

Von der Leyen: Supporting Ukraine is costly, but freedom is priceless

Supporting Ukraine comes at a high cost, but freedom is "priceless," European Commission chief Ursula von der Leyen told Reuters on Thursday amid soaring inflation and high energy prices in Europe.

Reuters

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Chronicle Live

All staff offered voluntary redundancy with Northumberland County Council facing £17 million inflation nightmare

An email to all staff members blamed increased inflation and fuel costs

Axios

How central banks are risking a global recession

Major economies are delivering interest rate increases to quash domestic inflation.

Bristol Post

Important money changes for September including £326 cost of living payment

A list of all the financial updates for September

The Independent UK

Concerns grow as Nigeria's inflation surges to 17-year high

Nigeria’s consumer inflation surged to 20.5% in August, its statistics agency said Thursday, signalling more hardship for citizens and businesses in Africa’s largest economy

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Axios

Biden's approval rating rebounds ahead of midterms

The public's perception of his handling of the economy and inflation still remains low.

Reuters

German government tasks experts with proposing inflation-busting ideas

The German government will establish a committee of experts and task them with coming up with policy proposals to combat the soaring cost of heating and gas, Chancellor Olaf Scholz said on Thursday.

The Independent UK

Germany urges firms to make tax-free payments to employees

The German government is urging companies to make a one-off payment to their employees of up to 3,000 euros (dollars) as a way of addressing the impact of rising prices while preventing a spiral of inflation in Europe’s biggest economy

StockNews.com

1 ETF That's a Great Idea to Tap Into Right Now

Elevated inflation and the Fed’s upcoming interest rate hikes are expected to keep the stock market under pressure. So, to benefit from the declines in the stock market, it could be wise to invest in ProShares Short QQQ ETF (PSQ), which employs a short strategy and seeks to benefit from…

The Independent UK

Mortgage rates hit 6%, first time since 2008 housing crash

Average long-term U.S. mortgage rates climbed over 6% this week for the first time since the housing crash of 2008, threatening to sideline even more homebuyers from a rapidly cooling housing market

WEKU

Legal fights and loopholes could blunt Medicare's new power to control drug prices

The Inflation Reduction Act gives Medicare historic new powers to limit prescription drug prices. But the pharmaceutical industry is already lobbying to dull their impact.

The Independent UK

Biden announces deal to avert crippling railroad strike: ‘A win for tens of thousands of rail workers’

A strike by railroad workers would have crippled large swaths of the US economy and fanned the flames of inflation

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