Tag: Prices

  • Amazon’s Bezos again blasts Biden administration over inflation, says it’s most hurtful to the poor

    Amazon founder Jeff Bezos arrives for his meeting with British Prime Minister Boris Johnson at the British diplomatic residence on September 20, 2021 in New York City. Michael M. Santiago | Getty Images News | Getty Images Jeff Bezos, Founder of Amazon tweeted sunday that inflation is most damaging to the less well-off in the […]

  • Bitcoin Tumbles, Stablecoin Plunges in Crazy Crypto Week

    NEW YORK (AP) — It’s been a wild week in crypto, even by crypto standards. Bitcoin plummeted, stablecoins were anything but stable, and one of the most prominent companies in the crypto industry lost a third of its market value. Here is a look at some major developments in cryptocurrencies this week: Bitcoin The price […]

  • Senate confirms Powell for 2nd term as Fed battles inflation

    WASHINGTON (AP) — The Senate on Thursday confirmed Jerome Powell for a second four-year term as Federal Reserve chairman, lending bipartisan support to Powell’s sweeping efforts to rein in the highest inflation in four decades. The 80-19 vote reflected broad support in Congress for the Fed’s willingness to fight soaring prices with a series of […]

  • Powell: Economic ‘soft’ landing may be out of Fed’s control

    WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell has just won Senate confirmation for a second term. earlier in the day, acknowledged for the first time on Thursday that high inflation and economic weakness overseas could thwart its efforts to avoid triggering a recession. For weeks, Powell has described the Fed’s drive to raise interest […]

  • UK economy ‘will only get worse’ as slowdown in growth begins

    The UK economy shrank 0.1% in March and the situation is expected to worsen as the cost of living crisis intensifies. Tim Ireland | Xinhua News Agency | Getty Images LONDON — A slowdown in growth is underway in the UK after the economy contracted 0.1% in March, with economists expecting further contractions this year. […]

  • High inflation continues to point to a larger Social Security cost-of-living adjustment in 2023

    Joe Raedle | Getty Images News | Getty Images Social Security recipients could see another record cost-of-living adjustment in 2023, based on the latest government data showing persistently high inflation. But that increase may not be enough to offset the loss in purchasing power recipients have suffered over the years, according to new analysis from […]

  • US inflation drops from 4-decade high but continues to cause pain

    WASHINGTON (AP) — Inflation slowed in April after seven months of relentless gains, a tentative sign that price increases could peak while putting financial pressure on U.S. households. Consumer prices jumped 8.3% last month from a year ago, the government said on Wednesday.. This was lower than the 8.5% year-on-year rise in March, which was […]

  • European markets climb as investors anticipate US inflation data; Stoxx 600 up 1%

    LONDON — European stocks advanced Wednesday morning as investors eagerly awaited the latest inflation reading. The pan-European Stoxx 600 gained 1.2% by mid-morning. Autos jumped 2.9% to lead the gains, with all sectors trading in positive territory except for health care, which fell 0.9%. The positive morning in Europe came after choppy trading sessions in […]