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Americans could be celebrating the Fourth of July with $5-a-gallon gas, and the effects will ring out from sea to shining sea.
Soaring gasoline and energy prices helped drive up U.S. consumer prices during May by the fastest rate since November, a government report showed.
Anthony Weiner is sponsoring a bill that gives models “of distinguished merit and ability” their own visa classification (P-4 status) which would group them with entertainers and athletes.
With Fed Chairman Ben Bernanke sounding alarms about inflation, the consumer price index is expected to have risen by 0.5 percent in May.
Driven up by the cheap dollar, U.S. import prices surged nearly 18 percent above year-ago levels, according to a new report out today. Even removing all energy-related fuels, the surge is still 6 percent.
Is there a July Fed action coming to take back a one-quarter rate cut? I think so. That would put up the target to 2.25%. It would be a shot heard round the world, strengthening the dollar and attracting new liquidity and capital flows into the US economy.
U.S. business inventories rose 0.5 percent in April, more than expected, while sales were their strongest since November, a government report showed.
Total sales at U.S. retailers rose a full percentage point in May as many consumers had more spending cash in their wallets from government rebate checks, a report on Thursday showed.
The inflation outlook for 2008 in the U.S., Japan, euro zone and the UK rose again in June, triggering big revisions to economists' interest rate forecasts, Reuters polls showed on Thursday.
The standard of living has decreased for many Americans, a trend that will reverse only after the troubles in the housing market work through, Pimco Managing Director Paul McCulley said on CNBC.
World stocks hit their lowest in almost two months, major government bonds tumbled and the dollar jumped after the Fed chief fired another warning on inflation.
Small business owner confidence in the U.S. economy deteriorated to its lowest in 28 years, according to a survey released Tuesday.
Rising food and energy costs are still trickling through the economy, complicating the outlook for inflation, Boston Federal Reserve President Eric Rosengren said on Tuesday.
The worst of the credit crunch is over, but the Federal Reserve is likely to keep interest rates on hold for a long time despite a surge in oil prices, as the U.S. economy still has to prove it is stabilizing, money manager Bob Doll said on Tuesday.
Federal Reserve Chairman Ben Bernanke Monday sounded a warning over soaring energy costs and said the central bank would "strongly resist" any tendency for an inflationary psychology to take hold.
Treasury Secretary Henry Paulson declined to rule out intervening in currency markets to stabilize the dollar, but said strong economic fundamentals would "shine through."
The U.S. labor market declined in May to the weakest in three-and-a-half years and is likely to deteriorate further, the Conference Board said as it launched a new leading indicator for employment.
President Bush said Monday a strong dollar was in the interest of the United States and the global economy, and that energy prices were high.
Americans see a better-than-even chance their stock portfolios will lose value this year, and their outlook for equities is the weakest in five years.
The unemployment rate jumped by the most in 22 years in May, reaching its highest level in more than 3-1/2 years and underscoring the recessionary risk the economy still faces.