By Keely Arthur, WRAL consumer reporter A study released earlier this month by the North Carolina Budget and Tax Center found the family of two adults and two children in Wake County needs to bring in $81,850 per year to meet the living income standard. The report details how much residents in every North Carolina […]
TOKYO — For years, as Japan tried to boost its chronically weak economic growth, it pursued what its central bank saw as a magic formula: stronger inflation and a weaker yen. It didn’t quite work as intended. Inflation never met the government’s modest target, despite rock-bottom interest rates and heaps of fiscal stimulus. Workers’ wages […]
The Senate confirmed Lisa D. Cook as a Federal Reserve governor on Tuesday, making her the first Black woman to hold that influential policy post. Her confirmation came after Vice President Kamala Harris broke a 50-to-50 tie in the Senate, moving the Biden administration one step closer to reshaping the leadership team at the central […]
Even pizza prices are headed higher amid elevated inflation. Papa John’s said this week that the company increased prices 7% in the first quarter to help offset inflationary pressures. Despite the price increase, Papa John’s still saw North America same-store sales gain 1.9%. “We have got great demand for our products [and] positive comparable sales […]
With the Federal Reserve raising interest rates by 50 basis points for the first time since 2000 in an effort to combat surging inflation, volatility is spiking as the outlook for markets grows more uncertain for the remainder of 2022. On the other hand, the Bureau of Labor Statistics’ (BLS) jobs report for April showed […]
BUDAPEST, Hungary (AP) — As the European Union tries to impose sanctions on Russian oil over the war in UkraineHungary has emerged as one of the biggest obstacles to unanimous support needed from the bloc’s 27 member nations. The president of the EU’s executive commission, Ursula von der Leyen, last week proposed phasing out imports […]
Some Federal Reserve officials have begun to acknowledge that they were too slow to respond to rapid inflation last year, a delay that is forcing them to constrain the economy more abruptly now — and one that could hold lessons for the policy path ahead. Inflation began to accelerate last spring, but Fed policymakers and […]
Don’t expect inflation to pass over very quickly, even with Fed rate hikes, a new ING report (ING) warns. The report, which was published by ING’s Financial and Economic Analysis team, analyzed the latest Labor Department jobs report and noted that consumers and businesses alike being burned by inflation will likely have to wait a […]
Shoppers inside a grocery store in San Francisco, California, US, on Monday, May 2, 2022. David Paul Morris | Bloomberg | Getty Images April’s consumer price index report is expected to show inflation has already reached a peak — a development that some investors say could temporarily soothe markets. But economists say, even with a […]
Gas pipelines are pictured at the Atamanskaya compressor station, facility of Gazprom’s Power Of Siberia project outside the far eastern town of Svobodny, in Amur region, Russia November 29, 2019. REUTERS/Maxim Shemetov. Register now for FREE unlimited access to Reuters.com Register KYIV/LONDON, May 10 (Reuters) – Ukraine said on Tuesday it would suspend the flow […]