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The Latest Breaking News from Inflation

Bitcoin, Ethereum, Dogecoin Crash After 'Scorching' Inflation Data: Analyst Says 'Writing Was On The Chart'

Bitcoin and Ethereum traded sharply lower Tuesday evening as the global cryptocurrency market cap plunged 7.5% to $986.4 billion at 8:26 p.m. EDT.

Benzinga

Biden insists US economy ‘going to be fine’ after stock market plummets amid reports of continued inflation

Unemployment remains low, the president said

The Independent UK

Vic hospital cash 'must match' inflation

A Victorian peak health body wants public hospital funding to meet or beat soaring inflation to ensure patient care isn't further impacted.

AAP

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Biden celebrates Democratic victories, but GOP extremism remains his party’s midterm focus

WASHINGTON — President Joe Biden and more than a thousand party activists, business executives, union leaders and lawmakers celebrated the Democrats’ landmark climate change and drug pricing law at the White House on Tuesday afternoon.

Los Angeles Times

EIC increases inflation projection to 6.1%

The Economic Intelligence Center (EIC), a research house under Siam Commercial Bank, has upgraded its inflation rate projection for this year to higher than 6% before falling to the near the Bank of Thailand's target range next year.

Bangkok Post

Wage hike looms large for firms

Businesses have mixed reactions to the new daily minimum wage hike finalised by the cabinet on Tuesday as they deal with a raft of economic challenges.

Bangkok Post

EXCLUSIVE: The Cannabis Industry Is Ripe For M&A: Top Industry Execs Talk Opportunity Ahead

Merger and acquisition activity in the cannabis space has accelerated in 2022 and looks poised to continue to pick up with markets trending lower on continued inflation concerns.

Benzinga

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Fed likely to stay the course on interest rate hike as inflation ticks up but gas prices ease

The Federal Reserve received mixed news in the latest data on U.S. inflation as it mulls another rate hike.

The Conversation

Inflation surprise puts onus on Fed to hit brakes even harder

The U.S. economy has shown surprising resilience in the face of the fastest inflation and interest-rate hikes in a generation. That means the Federal Reserve will have to stomp even harder on demand.

Tribune News Service

Yes Investors...It’s a Bear Market

Investors were once again foolishly bidding up stocks coming into the inflation report Tuesday morning. Bulls were slaughtered when they found out that inflation is not fading away and that likely spells more economic pain on the way as the Fed will need to stay on the rate hike war…

StockNews.com

ASX slumps, Wall St suffers biggest falls since 2020 after US inflation shock

An unexpected rise in US consumer prices sees global share markets take fright on worries about more aggressive interest rate rises by the US central bank. The Australian dollar plunges on a surging greenback.

ABC News

Latest Inflation Numbers Show That Rent Is Too Damn High

The cost of shelter was up 0.7 percent in August and 6.2 percent for the year, according to the latest Consumer Price Index report.

Reason

Twitter shareholders approve Musk sale as whistleblower testifies on security

Twitter shareholders have approved Elon Musk's $44 billion offer to buy the social media platform, months after the billionaire tried to back out of the deal. The case will be heard by a US court in October. Meanwhile, a Senate panel has heard explosive testimony about security practices at Twitter.…

France 24

Poverty and uninsured rates drop, thanks to pandemic-era policies

Child poverty is at a historic low, according to Census bureau data, and the rate of those without health insurance dropped in 2021. But the good news may be short-lived, as policy measures expire.

WEKU

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WEKU

Stocks plummet. Dow drops nearly 1,300 points after worrying inflation data

All three indexes fell after worse-than-expected inflation data raised expectations the Fed will need to continue raising interest rates aggressively to bring prices under control.

The Independent UK

Biden touts inflation reduction law despite sobering report

President Joe Biden has gathered a crowd at the White House to celebrate last month’s passage of the Inflation Reduction Act

Benzinga

Dow Drops More Than 1,000 Points, Akero Therapeutics Shares Spike Higher

U.S. stocks traded sharply lower toward the end of trading, following the release of inflation data for August.

Benzinga

Biden's Inflation Act Is Paying Off. Analyst Sees 36% Upside For This Alt Energy Play

Canadian Solar Inc (NASDAQ: CSIQ) has been performing exceptionally well in the first half of 2022 as the stock performance is up roughly 34% year-to-date.

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Benzinga

3 Pros On What 8.3% CPI Inflation Number Means For The Fed: 'A Strategic Error Of Epic Proportions'

The Labor Department on Tuesday reported an 8.3% year-over-year increase in the consumer price index for August, which sent the SPDR S&P 500 (NYSE: SPY) and the Invesco QQQ Trust (NASDAQ: QQQ) spiraling lower.

StockNews.com

2 Leisure Stocks to Buy This Week

As inflation remains elevated, the Fed will likely raise the interest rates by another 75 basis points next week. This could induce further volatility in the market. So, we think investing in quality leisure stocks Playa Hotels & Resorts (PLYA) and Accel Entertainment (ACEL) could be wise. Read more.

Benzinga

CPI Data Throws The SPY, Stock Market Into Chaos: What's Going On?

The SPDR S&P 500 (NYSE: SPY) gapped down and plunged over 3% on Tuesday after consumer price index (CPI) data released by the U.S.

The Guardian - UK

Faith in Ocado’s global revolution feels increasingly fragile

Having had too little capacity during the Covid crisis, the business now has too much

Axios

New inflation numbers make a soft landing less likely

Underlying inflation remains high and entrenched, and in some sectors still accelerating.

The Independent UK

Kwarteng plan to boost growth ‘could take decade to achieve target’

Expected ‘sugar rush’ of tax cuts could knock growth off track by forcing up inflation and interest rates, economists warn

Irish Mirror

Boost for low earners, latest on electricity credit and Budget 2023 key points today

Spiralling energy bills, petrol pump hikes and record inflation has heaped the pressure onto the Government

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