Inflation

New York Fed President John Williams says a U.S. recession is not his base case

New York Fed President John Williams says a U.S. recession is not his base case

New York Federal Reserve President John Williams said Tuesday he expects the US economy to avoid recession even as he sees the need for significantly higher interest rates to control inflation. “A recession is not my base case right now,” Williams told CNBC’s Steve Liesman during a live “Squawk Box” interview. “I think the economy …

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Tri-State Food Bank sees shortages due to rising prices; asking for donations

Tri-State Food Bank sees shortages due to rising prices; asking for donations

EVANSVILLE, Ind. (WFIE) – With food and gas prices, on the rise, the Tri-State Food Bank is seeing an impact on how much food they are able to keep in stock, and they’re asking for both food and monetary donations. The food bank’s executive director Glenn Roberts says they are not in a crisis right …

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Turkish lira whipsaws following new loan ban that's set to affect thousands of companies

Turkish lira whipsaws following new loan ban that’s set to affect thousands of companies

A money changer holds Turkish lira and US dollar banknotes at a currency exchange office in Ankara, Turkey December 16, 2021. Cagla Gurdogan | Reuters Turkey’s currency, the lira, enjoyed a much-welcomed boost on Monday and the preceding Friday after the country’s banking regulator announced a ban on lira loans to companies holding what it …

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More than half of Americans live paycheck to paycheck amid inflation

More than half of Americans live paycheck to paycheck amid inflation

With inflation at 40-year highs, workers across all income levels are having a harder time making ends meet. As of May, 58% of Americans — roughly 150 million adults — live paycheck to paycheck, according to a new LendingClub report. That’s down slightly from 61% who reported living paycheck to paycheck in April, but up …

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Americans Become Deeply Pessimistic About Economy as Consumer Confidence Hits Record Low

American consumers have never been this pessimistic about the economy, with the University of Michigan consumer confidence index plunging to a record low, as soaring inflation erodes household purchasing power and threatens a cost-of-living crisis. The Michigan consumer sentiment index fell from a reading of 58.4 in May to just 50.0 in June, a record …

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Inflation, supply chain disruptions dampen Asian stocks

SINGAPORE — Emerging Asian markets are on course for the worst half year in over a decade, as investors retreat from large tech companies in the region, while recession fears build up. Heavy rate hikes by central banks, the repercussions of China’s severe lockdown and global supply chain disruptions are behind the investors’ deteriorating sentiment. …

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