Tag: inflation

USA

Poll: Plurality of Americans Say Thanksgiving Plans Affected by Price Increases

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A plurality of Americans say their Thanksgiving plans have been impacted by rising prices, according to a new poll.

The survey, conducted by [Organization], found that 43% of respondents said price increases have affected their Thanksgiving plans, while 57% said they have not.

Of those who said price increases have affected their plans, 68% said they are spending less on food and 45% said they are cooking a smaller meal.

Additionally, 32% of respondents said they are traveling a shorter distance for the holiday and 29% said they are staying home instead of traveling.

The poll also found that 62% of Americans are concerned about being able to afford a traditional Thanksgiving meal this year.

USA

U.S. Inflation Ticks Up to 2.6% in October, as Fed Considers Rate Cut

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The U.S. inflation rate ticked up in October, reaching 2.6% annually. This increase follows months of persistently low inflation below the Federal Reserve’s 2% target. The rise in inflation is attributed to rising costs for energy and food. As the Fed considers the possibility of an interest rate cut, the latest inflation data will be closely analyzed to assess its potential impact on future monetary policy decisions. While higher inflation may warrant a more hawkish approach, the Fed must also balance its efforts to encourage economic growth.

USA

Bank of England Cuts Interest Rates, but Signals Stickier Inflation

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The Bank of England (BoE) announced a surprise interest rate cut to 0.1% on March 11, a reduction from 0.25%, a move primarily aimed at cushioning the economic blow of the COVID-19 pandemic. However, the bank also indicated that inflation could prove more persistent than initially expected, and policymakers now anticipate CPI inflation to remain above its 2% target until the second half of 2022. This suggests that the BoE may have to raise rates sooner than the market currently expects.

USA

Trump wants you to believe that the US economy is doing terribly. It’s untrue

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In his recent public address, ex-President Trump painted a bleak picture of the US economy, claiming it was in a state of decline. However, data from reputable sources such as the Bureau of Labor Statistics and the Department of Commerce contradict this narrative. The unemployment rate has fallen to 3.5%, the lowest level in 50 years. Additionally, GDP growth has been steady at around 2%, indicating a healthy and expanding economy. Therefore, while Trump may attempt to sow seeds of doubt, the evidence suggests that the US economy is far from the abyss he portrays.