Even without taking food and energy prices into account, core inflation rose 5.2% in January compared with a year earlier.
"It is alarming because high inflation is especially painful for lower- and middle-income people, who don't have a choice about paying more for gasoline, groceries, shelter and other necessities," Governor Christopher Waller said."It is alarming because of the risk that high inflation could become ingrained in people's expectations and prove difficult to rein in, undermining economic growth.
"I know this is hard and Americans are already hurting," Biden said."I will do everything in my power to limit the pain the American people are feeling at the gas pump. This is critical to me." The Federal Reserve is expected to raise interest rates several times throughout the year, starting in March. It has to strike a delicate balance between increasing rates enough to curtail inflation but not raising them so much that they trigger a recession.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
These stocks' yields are beating inflation, even at today's nosebleed heightsInflation is at 40\u002Dyear highs. These stocks can help ease the pain.
Weiterlesen »
Even in a choppy crypto market, this algorithmic indicator helped traders identify the few winnersHistory helps to understand the present. Predicting the future is difficult, but identifying past patterns with tools like VORTECS™ Score has proven to be useful to make an accurate guess.
Weiterlesen »
Debate between Texas GOP attorney general candidates got heated, even though incumbent Ken Paxton wasn’t there“Gutter politician.” “Entitled.” Things got heated between Republicans trying to unseat Attorney General Ken Paxton during a candidate debate Thursday, even though the incumbent wasn’t there.
Weiterlesen »
Harris says Biden sanctions against Russia 'swift and certain,' even as president avoids harshest measuresPresident Biden didn't hit Russia with sanctions as severe as he could have Thursday, but Vice President Harris defended the president's move as likely to 'have a direct impact on Russia's economy.'
Weiterlesen »
Russia's attack on Ukraine means these prices are going even higherRussian President Vladimir Putin's decision to invade Ukraine could drive prices even higher at a moment when inflation is already rising at the fastest clip in decades.
Weiterlesen »
Global trade snarls to get even worse after Ukraine invasion: analystsThe Russian invasion of Ukraine is likely to snarl global trade even further, while sending gas prices soaring and stock markets into correction territory, analysts say. Global markets tanked on Th…
Weiterlesen »