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The Latest Breaking News from Inflation

Daly says Fed is ‘far from done yet’ on bringing inflation down

San Francisco Fed President Mary Daly suggested a 50 basis-point rate increase isn’t locked in at the U.S. central bank’s next policy meeting, saying the Federal Reserve is “far from done yet” in bringing down inflation.

Tribune News Service

Interest rate rise will be as useful as medieval bloodletting

Letter: The Bank of England’s recent rate increase will do nothing to curb inflation, says Jean-Claude Fouque

The Guardian - UK

Markets charge higher despite the prospect of further rate hikes

The NZX50 records its first weekly ‘three-peat’ in a year, notching up a third consecutive week of gains to close at a 3-month high

Newsroom.co.nz

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Joe Manchin defends Inflation Reduction Act after Bernie Sanders says it will do little to address inflation

“This is not Bernie's bill,” the West Virginia Democrat tells The Independent.

The Independent UK

Harris breaks deadlock in “vote-a-rama”

The Senate worked through the night making steps on the bill that will then go on to Biden to sign into law

Salon

Voters aren’t the only ones feeling the effects of inflation

High inflation isn’t just a political messaging point to some candidates running for office. The cost of gasoline, travel, staff pay, printed materials and food for events all affect the bottom lines of campaigns.

Tribune News Service

RJD holds 'Pratirodh' yatra over inflation, unemployment in Patna

Rashtriya Janata Dal (RJD) workers on Sunday held a 'Pratirodh' march in Patna over the issue of inflation and unemployment. Read more on Dynamite News:

Dynamite News

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6 ways Canadians can prepare for the upcoming recession

Although it certainly feels like it, and many people believe it, we are not in a recession yet. While a recession is defined as two successive quarters of negative GDP growth, it is essentially a period where economic growth falls significantly and unemployment rates rise.

The Conversation

Fading global cooperation will make this crisis worse than the recession of 2008

The global financial crisis brought large economies together but the current crisis comes at a time of deep division

The Guardian - UK

Democrats passed a major climate, health and tax bill. Here's what's in it

Senate Democrats spent the weekend advancing what they call a historic piece of legislation, but it's still a much smaller version of what they — and President Biden — originally called for.

WEKU

Dems push Biden climate, health priorities toward Senate OK

Democrats are driving their election-year economic package toward Senate approval

The Independent UK

Brexit will make a bad recession even worse. But Sunak and Truss won’t question it

The Tory leadership contenders are pursuing a dangerous nirvana of low taxation while ignoring the damage inflicted by leaving the EU

The Guardian - UK

Cost of living crisis: four things the government could do to help

Policy levers ministers could be pulling as rocketing gas prices fuel spiralling inflation

The Guardian - UK

The Observer view on the Tory party leaving Britons to face the crisis alone

As millions face hardship thanks to soaring bills, the Tories are focused on their next leader rather than the emergency at hand

The Guardian - UK

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The Independent UK

Republicans amplify Bernie Sanders’s criticisms of Democrats’ climate and health care legislation

Sanders defends Republicans parroting his criticisms, says ‘the truth is the truth’

Pedestrian.tv

Just Gonna Say It: Inflation Is The Ultimate Cockblock Of 2022

Abstinence is all I can afford right now.

Los Angeles Times

Democrats clear first hurdle on health care, tax and climate bill

WASHINGTON — Senate Democrats on Saturday advanced their long-delayed health care, tax and climate bill following months of back-and-forth on whether the party would be able to pass major legislation addressing some of their progressive priorities before the midterm election.

Los Angeles Times

Democrats clear first hurdle on health care, tax and climate bill

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Reuters

UK's Liz Truss ready to speed up tax cut plan, newspaper says

Liz Truss, the front-runner to become Britain's next prime minister, plans to rush through tax cuts earlier than planned in an attempt to boost the country's flagging economy, the Sunday Telegraph reported.

The Independent UK

Sunak slams Truss’s ‘starry-eyed boosterism’ as clashes over economy continue

Ms Truss vowed to use a September emergency budget to “immediately” cut taxes.

The Independent UK

Democrats brace for insulin fight on Inflation Reduction Act

Democrats want to cap the price of insulin to $35

The Independent UK

Senate Democrats are confident as GOP tries to kill climate and inflation deal

Sen Dianne Feinstein told The Independent she doesn’t “anticipate a problem [getting the legislation passed].”

Benzinga

What Is The Stock Buyback Tax? What To Know About The Biden/Manchin/Sinema Compromise

With the support of Senator Kyrsten Sinema, Democrat lawmakers were able to secure sufficient votes for a new tax that will be introduced as part of the Inflation Reduction Act of 2022.

The Guardian - UK

Gordon Brown: ‘Set emergency budget or risk a winter of dire poverty’

Former PM has warned of a financial timebomb awaiting families as Labour plans a major intervention to address crisis

Tribune News Service

Drug price bill pruned by Senate arbiter in partial industry win

Medicare was cleared to negotiate drug prices for the first time by the Senate’s top rules official, though the Democrats’ proposal intended to cap price increases for prescription drugs in the commercial market was blocked.

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