SAN FRANCISCO, Dec 19- U.S. inflation will likely still be "well below" the Federal Reserve's 2- percent target next year, but that won't stop the central bank from raising interest rates, a top policymaker said on Friday. "I would say at this point that June 2015 seems like a reasonable starting point for thinking about when liftoff could happen," San Francisco Federal...» Read More
Britain's inflation rate fell as expected in June on lower utility bills but the figures are still likely to keep alive expectations of further interest rates hikes ahead.
Consumer prices in New Zealand rose more than expected in the second quarter, heightening expectations the central bank will raise interest rates later in the month and sending the currency to a 22-year post float high.
Federal Reserve Chairman Ben Bernanke is likely to tell Congress this week the central bank is more worried U.S. inflation will flare than it is that housing market turbulence will seriously damage the economy.
What a week. The earnings parade arrives, two key reports on inflation are released and Fed Chairman Ben Bernanke makes two appearances before Congress. The stock market's red hot rally at the end of the past week was fired in part on expectation that global growth will continue to pump up earnings, and a slew of corporate report cards will be dealt out next week when banks, techs, airlines and others report quarterly results.
Robert Brusca, chief economist at Fact and Opinion Economics, told CNBC’s “Morning Call” that economic fundamentals are in “great shape.” “When you look at the consumer, the important thing is that jobs are growing very firmly, wages are growing at a good pace and this is underpinning income growth,” Brusca said Friday. “When the consumers have good income growth, they’re going to spend.”
The verdict on June retail sales: they could have been worse. Bear Stearns Retail Analyst Christine Augustine joined "Morning Call" to explain why Thursday's lukewarm figures are actually good news -- and to name the factors driving the sector.
Nestle, the world's largest food company, will raise prices, cull unprofitable products and speed up production rationalization to prepare for a lasting rise in commodity and energy prices.
Federal Reserve Chairman Ben Bernanke said Tuesday that swings in volatile energy and food prices will have minimal impact on inflation as long as inflation expectations are held steady. "If inflation expectations are well anchored, changes in energy (and food) prices should have relatively little influence on 'core' inflation ..." he said.
The Federal Reserve’s implicit comfort zone for inflation is 1% to 2% on core inflation. Federal Reserve Chairman Ben Bernanke has declined to set a specific target, but some believe that may change soon.
Ned Riley, chief executive officer of Riley Asset Management, told CNBC’s “Street Signs” that he believes a sluggish economy will boost stocks.
German Chancellor Angela Merkel has made it clear to French President Nicolas Sarkozy that Germany will firmly resist any efforts to impinge upon the European Central Bank's independence, Der Spiegel news magazine reported on Sunday.
U.S. Commerce Secretary Carlos Gutierrez told CNBC’s “Morning Call” that June’s employment report shows the economy can grow without reigniting inflation. ... But he also said the job market underscores the need for immigration reform: “What I hear from companies and small businesses is you either have to give us a legal channel for workers or you’re forcing me to hire illegally or forcing me to go out of business,” Gutierrez said.
Food prices around the world are set for a "significant and long-lasting" period of inflation because of a variety of factors, including demand from China and India, Nestle's chairman Peter Brabeck said in an interview with the Financial Times today.
Current U.S. interest rate policy should promote a further drop in inflation although risks are still skewed toward higher prices, San Francisco Federal Reserve President Janet Yellen said on Thursday.
Sam Stovall, chief investment strategist at Standard & Poor’s, told CNBC’s “Closing Bell” that he expects the S&P 500 to close the year at about 1,550 -- but those taking a more cautious view peg the index at about 1,510.
The European Central Bank kept interest rates steady at 4% Thursday, as widely expected.
Richard Cripps, managing director of portfolio strategy at Stifel, Nicolaus Capital Markets, told CNBC’s “Squawk on the Street” that the market is now consolidating and investors should move to quality stocks.
Stuart Freeman, chief equity strategist for A.G. Edwards, told CNBC’s “Squawk Box” that he believes slow, steady earnings growth will move the market higher.
The U.S. personal consumption expenditures price index, excluding food and energy, advanced by 1.9 percent in May from a year earlier, according to a government report on Friday that is likely to give the Federal Reserve some assurance it is making progress in its effort to curb inflation.
Inflation in the 13 nations that share the euro held steady at 1.9% in June while business and consumer confidence slipped slightly after soaring a month earlier, the European Commission said Friday.