Stubborn inflation forces more Americans to live paycheck to paycheck

Inflation is a persistent problem The consumer price index, which measures the average change in prices for consumer goods and services, rose a higher-than-expected 8.3% in August, driven by increases in food, shelter and medical care costs. Although real average hourly earnings also rose a seasonally adjusted 0.2% for the month, they remained down 2.8% from … Read more

Fed Vice Chair Brainard warns against retreating from inflation fight prematurely

U.S. Federal Reserve board member Lael Brainard speaks after she was nominated by U.S. President Joe Biden to serve as vice chair of the Federal Reserve, in the Eisenhower Executive Office Building’s South Court Auditorium at the White House in Washington, U.S., November 22, 2021. Kevin Lamarque | Reuters Federal Reserve Vice Chair Lael Brainard … Read more

Jeremy Siegel says you should still bet on stocks for the long run as market will overcome inflation

Wharton Professor Jeremy Siegel has received a lot of attention for his harsh criticism of the Federal Reserve recently , but that’s not why he is famous. His 1994 book, “Stocks for the Long Run,” chronicled almost 200 years of investing in stocks and bonds, and contained groundbreaking research on the long-term outperformance of stocks over bonds … Read more

Erdogan says Turkey will keep cutting interest rates, mocks British pound

Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting at the parliament in Ankara, Turkey May 18, 2022. Murat Cetinmuhurdar/Presidential Press Office/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES. MANDATORY CREDIT Murat Cetinmuhurdar | Reuters Turkey will keep cutting interest rates, … Read more

Stanley Druckenmiller sees ‘hard landing’ in 2023 with a possible deeper recession than many expect

Billionaire investor Stanley Druckenmiller believes the Federal Reserve’s attempt to quickly unwind the excesses it helped build up for a decade with easy monetary policy will not end well for the U.S. economy. “Our central case is a hard landing by the end of ’23,” Druckenmiller said at CNBC’s Delivering Alpha Investor Summit in New York City … Read more

10-year Treasury yield tops 4%, soaring to 14-year high

The benchmark 10-year Treasury briefly topped 4% on Wednesday, reaching levels not seen since 2008, as markets took in Federal Reserve speaker commentary that hinted at further interest rate hikes. The yield on the 10-year Treasury was up 3 basis points to 3.9945% at around 4:20 a.m. ET. Earlier in the day, it rose as … Read more

Goldman Sachs predicts stock market bottom for Europe; says how to position

Goldman Sachs has predicted further pain for a raft of European indices over the short term, with one expected to be firmly in a bear market by the end of the year. The Euro Stoxx 600 is expected to fall by nearly 8% by the end of this year, the investment bank said in a … Read more

Stocks gain ground a day after Dow entered a bear market

NEW YORK (AP) — Stocks rose in morning trading on Wall Street Tuesday a day after a broad sell-off sent the Dow Jones Industrial Average into a bear market to join other major U.S. indexes. The S&P 500 rose 1% as of 10:22 a.m. Eastern. The Dow rose 219 points, or 0.8%, to 29,498 and … Read more

Here are Q4 strategies from advisors amid rate hikes and high inflation

Ridofranz | Istock | Getty Images It’s been a nerve-wracking year for investors. With ongoing stock market volatility, high inflation and interest rate hikes, many wonder if we’re heading for a prolonged economic downturn.   “I think we have to be defensive,” said certified financial planner Ivory Johnson, founder of Delancey Wealth Management in Washington, D.C. … Read more

Larry Summers blasts UK’s ‘utterly irresponsible’ fiscal policy

Larry Summers Cameron Costa | CNBC LONDON — Former U.S. Treasury Secretary Larry Summers on Tuesday warned that the U.K. has lost sovereign credibility after the new government’s fiscal policy sent markets into a tailspin. The British pound hit an all-time low against the dollar in the early hours of Monday morning, before recovering slightly on Tuesday, while the U.K. … Read more