Economy

The Fed's Inflation Mistakes Have Damaged Its Credibility

The Fed’s Inflation Mistakes Have Damaged Its Credibility

Illustration by Alex Nabaum Text size About the authors: Charles I. Plosser is a visiting fellow at the Hoover Institution and former president of the Federal Reserve Bank of Philadelphia. Mickey D. Levy is senior economist at Berenberg Capital Markets. Both are members of the Shadow Open Market Committee. The Federal Reserve has failed to …

The Fed’s Inflation Mistakes Have Damaged Its Credibility Read More »

Homebuyers feeling inflation squeeze as US 'headed for recession,' Redfin CEO warns

Homebuyers feeling inflation squeeze as US ‘headed for recession,’ Redfin CEO warns

Redfin CEO Glenn Kelman argues despite the US economy faces soaring inflation, there ‘won’t be a crash’ in the housing market. While the housing market continues to get battered by interest rates and sky-high prices, Redfin’s CEO warned that homebuyers are feeling the inflation squeeze as the US is “headed for recession.” “People who are …

Homebuyers feeling inflation squeeze as US ‘headed for recession,’ Redfin CEO warns Read More »

Stephen Ross thinks recession will drive people back to office

Stephen Ross thinks recession will drive people back to office

Billionaire real estate tycoon Stephen Ross suggested Friday that a looming US economic recession could put an end to the work-from-home craze that swept the country during the pandemic. Ross, whose firm Related Cos. owns office space in New York and across the US, suggested the possibility of layoffs could lead employees to drop their …

Stephen Ross thinks recession will drive people back to office Read More »

Five ways the Fed's interest rate hikes will impact Americans

Five ways the Fed’s interest rate hikes will impact Americans

The Federal Reserve Bank announced a 75 basis point interest rate hike on Wednesday, a 50 percent greater increase than the central bank had initially signaled it was going to make for June. The move comes after inflation hits a new, 40-year high last week, with consumer prices reaching an 8.6 percent mantel over where …

Five ways the Fed’s interest rate hikes will impact Americans Read More »

Farmers in the West face slew of challenges, warn of more supply chain disruptions

Farmers in the West face slew of challenges, warn of more supply chain disruptions

Some farmers say they’re struggling to find feed for their animals because of existing supply chain issues. GUSTINE, Calif. – Farmers on the West Coast are warning of potential food shortages caused by inflation and drought, but now, some farmers are struggling to find feed because shipments are delayed. “We have enough of corn to …

Farmers in the West face slew of challenges, warn of more supply chain disruptions Read More »

Russia puts the gas squeeze on France and Italy – POLITICO

Russia puts the gas squeeze on France and Italy – POLITICO

Russia’s Gazprom has cut gas deliveries to France and Italy, just days after their leaders were in Kyiv to formally back Ukraine’s bid to join the EU. That’s raising alarm that a slowdown in deliveries could derail EU efforts to build up supplies ahead of next winter and protect the bloc from Russian energy blackmail. …

Russia puts the gas squeeze on France and Italy – POLITICO Read More »

Opinion |  Wonking Out: Wasn't Bitcoin Supposed to Be a Hedge Against Inflation?

Opinion | Wonking Out: Wasn’t Bitcoin Supposed to Be a Hedge Against Inflation?

There’s a financial joke, whose origin I don’t know, that has been making the rounds lately. It goes like this: If inflation continues at current rates, the purchasing power of wealth held in dollars will be cut in half over the next eight years. But cryptocurrencies can beat that: They can lose half their value …

Opinion | Wonking Out: Wasn’t Bitcoin Supposed to Be a Hedge Against Inflation? Read More »

US gas prices will surge even higher thanks to shrinking stockpiles and refinery bottlenecks, Rystad Energy says

US gas prices will surge even higher thanks to shrinking stockpiles and refinery bottlenecks, Rystad Energy says

Oil refineries are under severe strain around the world.Anadolu Agency/Getty Images US gas prices are likely to surge even higher, as stockpiles dwindle and refineries struggle to keep up, Rystad Energy said Friday. Wholesale gasoline prices fell this week, but the reprieve is likely temporary, according to Rystad’s Per Magnus Nysveen. Refineries have been battered …

US gas prices will surge even higher thanks to shrinking stockpiles and refinery bottlenecks, Rystad Energy says Read More »

Inflation's main culprit?  CEOs zero in on Powell's Fed

Inflation’s main culprit? CEOs zero in on Powell’s Fed

Instead, executives are focused on what they see as Powell getting the persistence and scope of inflation so wrong that he and his Fed colleagues are now being forced to overcompensate on rate increases that could blow the economy into a sharp slump. “He is obviously playing catch-up, 100 percent,” said Gary Cohn, the former …

Inflation’s main culprit? CEOs zero in on Powell’s Fed Read More »