Friday’s consumer-price index report for May — which showed the annual headline U.S. inflation rate climbing to 8.6% in May, with few signs of having peaked — is boosting the chances of a jumbo-sized rate increase by monetary-policy makers as soon as next week, and eliciting dire warnings that central bankers have completely lost control of prices.
“What we saw in this report which was disappointing and a little alarming is that the core reading, excluding food and energy, came in hotter than expected and that’s after we dropped off from a very high number for April 2021,” she said via phone. “This is a much more persistent and stickier kind of inflation that takes years to work through the system.”
A team at Goldman Sachs Group Inc. GS, -5.65%, led by Jan Hatzius, agreed with TD’s September assessment, by saying “we now expect the Fed to hike the funds rate by 50 bps in September , in addition to +50bp moves in June and in July.” May report was a `doozy’ “Today’s CPI report was a doozy,” said Tom Graff, head of investments at Facet Wealth.
The price increase caused by the lack of commodities. The correct way is to reduce the loan interest rate of production enterprises and increase the interest rate of consumer loans.
Shutdown of economy in previous regime, deaths, extremism in society, highest unemployment vs red hot economy, lowest unemployment and cleanup of previous regime's mess. Oil crisis due to personal benefit deals with russia saudis. Nice deflection from January6thCommitteeHearings
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