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“Fed’s Loretta Mester supports smaller rate hike in December” The Federal Reserve can downshift to smaller interest rate hike increments from next month as it fine-tunes its policy actions to help bring down high inflation while keeping the economy humming, Cleveland Fed President Loretta Mester said Monday. “I think we can slow down from the 75 at…
“Thanksgiving-feast inflation shifts shoppers to chicken” Inflation is forcing peckish Big Apple shoppers to wing it on Thanksgiving, with some telling The Post they’ll be gobbling chicken because turkey is just too expensive. “I’m going to buy cooked chicken that they usually have on sale for $5 or $7,” sighed Osvaldo Baez, 62, who is…
“‘Might be in for soft landing after all:’ Retail sales rise more than expected in October” Retail sales increased more than expected in October as households stepped up purchases of motor vehicles and a range of other goods, suggesting consumer spending picked up early in the fourth quarter, which could help to support the economy. The solid retail sales reported…
“NordicTrack maker slashes 300 jobs in fifth round of layoffs” NordicTrack maker iFit Health & Fitness slashed 300 more jobs as the Salt Lake City, Utah-based company continues to reel from a change in post-pandemic habits. The cuts announced Monday were the fifth round of layoffs since late 2021 — trimming the ranks to 1,300…
“Wholesale inflation eases to 8% in October” Prices at the wholesale level rose 8% in October from a year ago, the fourth straight decline and the latest sign that inflation pressures in the US are easing from painfully high levels. The annual figure is down from a revised 8.4% in September. On a monthly basis, the government…
“Sam’s Club declares war on Costco with $1.38 hot dog and soda combo” Let the hot dog and soda wars commence. Sam’s Club, the membership-only wholesale retailer owned by Walmart, is cutting the price of its hot dog and soda combination by 12 cents — from $1.50 to $1.38. The move — which undercuts Costco’s…
” Bitcoin price hits $17K on US PPI as trader warns of ‘final capitulation’ “ Bitcoin (BTC) spiked to $17,000 at the Nov. 15 Wall Street open as fresh United States economic data continued to show inflation cooling. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Good” PPI boosts risk assets Data from Cointelegraph Markets Pro…
“NYC Mayor Eric Adams warns Democrats of ‘wrong attitude’ toward top voter concerns” Big Apple Mayor Eric Adams lambasted Democrats for having the “wrong attitude” when addressing top voter concerns in an op-ed Sunday — after months of blaming fears of rising crime on “perception” and declining to take Gov. Kathy Hochul to task over…
” 5 reasons 2023 will be a tough year for global markets “ Those who come bearing warnings are rarely popular. Cassandra didn’t do herself any favors when she told her fellow Trojans to beware of the Greeks and their wooden horse. But, with financial markets facing unprecedented turbulence, it’s important to take a hard…
“A GOP-run House will fix inflation simply by stopping Biden’s enormous spending” The likely election of a Republican House majority is good for the economy, good for Republicans — and even good for President Biden. Inflation cooled last month, but remains at 7.7% over the past year — and a staggering 14% in the 20…