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The Latest Breaking News from Inflation

Penny Wong says annual aid to Solomon Islands is 28 per cent lower on average under the Coalition than it was under Labor. Is she correct?

Shadow Minister for Foreign Affairs Penny Wong says the Coalition has spent 28 per cent less on development assistance to the Solomon Islands than Labor did when last in government. Is that correct?

ABC News

Federal Reserve hikes official interest rates by 0.5 per cent, ASX rises, Dow Jones jumps 900 points

The US Federal Reserve has increased official interest rates by 0.5 per cent and flagged that more such rises are likely. Meanwhile, the Australian market has followed Wall Street higher.

ABC News

Stock bulls get reprieve as Powell signals a limit to austerity

Under no pressure to throw investors a bone, Jerome Powell nevertheless did, igniting the biggest stock market rally on the day of a Federal Reserve meeting in a decade.

Tribune News Service

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Biden previews midterm offensive as he attacks 'extreme' MAGA Republicans in deficit speech

WASHINGTON — With an eye clearly on November's midterm elections, President Joe Biden on Wednesday sharpened his attack on Republicans as he sought to contrast his administration's policies with what he described as an "extreme" GOP agenda.

Los Angeles Times

Sinclair Broadcast reports massive profit as it ‘deconsolidated’ local sports networks from its books

Sinclair Broadcast Group said it earned $2.59 billion — yes, with a B — in the first quarter as it “deconsolidated” its local sports segment from its financial statements.

Tribune News Service

Thai interest rate policy needs changing

On March 16, the Federal Open Market Committee (FOMC), the US equivalent of Thailand's Monetary Policy Committee, raised its policy interest rate (Fed Funds Rate) by 25 basis points from 0.00%-0.25% to 0.25%-0.50% to tame rising inflation.

Bangkok Post

Biden Officials Split on Easing China Tariffs to Slow Inflation

The Biden administration is split on whether to pare back tariffs on imports from China in an effort to cut consumer costs and reduce inflation, as the White House gives renewed consideration to a step that has divided officials.

Bangkok Post

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US Federal Reserve hikes interest rates to tackle inflation

The US Federal Reserve has hiked interest rates by half a percentage point - double its usual rate - to tackle the country’s highest level of inflation in 40 years. Fed Chairman Jerome Powell said it was 'essential' to lower inflation and reduce hardship for American families. Thomas Costerg, Senior…

France 24

3 Dividend Kings to Buy Right Now Without Hesitation

The stock market indexes drifted higher yesterday with investors looking ahead to the Federal Reserve's monetary policy tightening to control surging inflation. However, the Ukraine-Russia war, extended COVID-19 lockdowns in China, and the possibility of an economic slowdown, could keep the stock market under pressure in the near term. Amid…

StockNews.com

Minister labelled ‘out of touch’ for suggesting shoppers swap to value brands

Food campaigner Jack Monroe said Environment Secretary George Eustice was in ‘no position to tell other people to get cheaper biscuits’.

The Independent UK

The Coalition is guaranteeing essential services and lower tax. We can't have both

In the midst of Labor’s campaign about the cost of living, the Coalition has zeroed in on one of those costs – taxes – and guaranteed to stop them rising. Its Lower Tax Guarantee promises:

The Conversation

Martin Lewis condemns minister’s ‘patronising’ advice to buy value food brands amid cost-of-living crisis

‘Bulls***’ to suggest poor people don’t know to shop cheap, Martin Lewis says

The Independent UK

Fed makes biggest rate hike since 2000 to combat inflation

WASHINGTON — For the first time in 22 years, the Federal Reserve on Wednesday pushed up interest rates by a full half-percentage point — a significant escalation of its efforts to get control of troublingly high inflation.

Los Angeles Times

Martin Lewis issues sweary response after minister's supermarket own brands advice

George Eustice told shoppers to switch to cheaper alternatives as calls grow for government to take direct action in cost of living crisis

Liverpool Echo

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The Hindu

Inflation control needs another model

Lasting inflation control would require placing agricultural production on a steady footing

The Conversation

Fed hopes biggest rate hike in 22 years tames inflation without recession or stagflation: 3 essential reads on what it all means

The Federal Reserve on May 4, 2022, lifted its benchmark interest rate by half a percentage point to a range of 0.75% to 1%, its biggest increase in 22 years. The aggressive move, which has been expected for many months, is part of the U.S. central bank’s effort to slow…

The Hindu

Inevitable increase: On RBI’s interest rate hike

The RBI’s increase in interest rates was long overdue

The Independent UK

How higher Fed rates stand to affect Americans' finances

Record-low mortgages below 3% are long gone

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The Independent UK

Federal Reserve raises interest rates by half point to fight inflation

Largest increase in 22 years comes as inflation is highest in four decades

Roll Call

Senate Democrats take aim at credit card fees amid inflation - Roll Call

The Senate Judiciary Committee took aim at credit card fees, complaining that inflation is pushing up the profits of Mastercard and Visa,.

Benzinga

Why MEG Energy Shares Are Trading Higher Today

MEG Energy Corp (TSX:MEG) (OTC:MEGEF) price target has been raised to C$22 from C$21 by RBC Capital analyst Greg Pardy. The analyst maintained his Outperform rating on the shares. The analyst stated that the bullish stance towards MEG Energy reflects its capable leadership team, top-quartile oil sands operations at Christina Lake, balance sheet deleveraging, and…

WEKU

The Fed raises interest rates by the most in over 20 years to fight inflation

The Federal Reserve raised interest rates by half a percentage point Wednesday, in an effort to cool off demand and lower inflation. Consumer prices have been rising at the fastest pace in 40 years.

The Independent UK

Fed raises key rate by a half-point in bid to tame inflation

The Federal Reserve intensified its drive to curb the worst inflation in 40 years by raising its benchmark short-term interest rate by an sizable half-percentage point

The Guardian - US

Federal Reserve announces biggest interest rate hike since 2000

Benchmark interest rate raised 0.5 percentage points, with more rises expected

Axios

Fed raises rates half a percentage point

The central bank also signaled more rate increases are on the way.

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