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The Latest Breaking News from Inflation

Powell talks tough, warning rates are going to stay high for some time

Federal Reserve Chair Jerome Powell signaled the U.S. central bank is likely to keep raising interest rates and leave them elevated for a while to stamp out inflation, and he pushed back against any idea that the Fed would soon reverse course.

Tribune News Service

Dow plunges 1,000 points after Fed chief Powell warns of inflation ‘pain’

US stock markets nosedive as Jerome Powell says at top bank summit the ‘overarching focus is to bring inflation back down’

The Guardian - US

Cannabis Demand Sees Nominal Impact by Surge in U.S. Inflation

Summary: ● Inflation is having only a nominal impact on retail cannabis demand ● While states have experienced a decrease in demand, this decline is simply the returning to pre-pandemic consumption levels

Benzinga

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Jerome Powell says Fed is resolved to fight inflation even if it brings economic pain

The Fed's chair comments signal the central bank is determined to continue raising interest rates to bring down inflation.

WEKU

Fed chief says more 'pain' ahead

JACKSON HOLE, Wyoming: Taming high US inflation will inflict “pain” on American families and businesses, but failure to wrestle prices down from their current 40-year high would be even more harmful, Federal Reserve chairman Jerome Powell said on Friday in a highly anticipated speech to global policymakers.

Bangkok Post

From barristers to refuse collectors, Britons strike en masse

Workers are livid that employers are refusing to pay more against the backdrop of wage-crushing inflation.

Al Jazeera

Powell: Fed could keep lifting rates sharply 'for some time'

Federal Reserve Chair Jerome Powell delivered a stark message Friday: The Fed will likely impose more large interest rate hikes in coming months and is resolutely focused on taming the highest inflation in four decades

The Independent UK

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Stocks Plummet As Powell Doubles Down On Fed's Inflation Fight Until 'The Job Is Done'

Federal Reserve Chair Jerome Powell was among the most anticipated speakers at the

Benzinga

Fed Chairman warns of ‘pain to come’ for US households as he outlines plan to tackle inflation

The Federal Reserve Chairman’s words come as inflation decreased in the past month.

The Independent UK

Fed Chief Powell: Bringing down inflation will require economic pain

He used a much-awaited speech in Jackson Hole to signal the Fed's resolve

Axios

Fed's favorite inflation gauge shows prices fell in July

Plummeting gasoline prices dragged down the overall index.

Axios

3 Strong Buy Stocks Yielding More Than 9%

The stock market is expected to remain under pressure as inflation still remains elevated, which could prompt the Federal Reserve to raise interest rates aggressively. Therefore, we think it could be wise to invest in fundamentally sound stocks, ICL Group (ICL), Sisecam (SIRE), and Educational Development (EDUC), which pay dividends…

StockNews.com

Inflation eases as consumer prices rise 6.3% in July

Inflation eased last month as energy prices tumbled, according to a report closely watched by the Federal Reserve

The Independent UK

Indonesia considers hiking fuel prices up to 40%

JAKARTA: Indonesia may raise heavily subsidised fuel prices by 30% to 40% to manage fiscal pressure from a ballooning subsidy budget, lawmakers from President Joko Widodo’s ruling coalition government told Reuters on Friday.

Bangkok Post

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The New Daily

Kmart’s winning production formula combats inflation as Target’s profits fall

Department store chain Kmart is changing how its products are made to combat rising costs for raw materials like cotton as inflation bites.

The Guardian - US

‘Democrats have their mojo’: has the tide shifted for Biden and his party?

A flurry of wins – passage of a climate and healthcare package, and the Inflation Reduction Act – give hope for the midterm elections

Roll Call

Inflation slowed in July as effects linger, agency reports - Roll Call

Inflation as measured by the Federal Reserve’s preferred indicators cooled down in July to a 6.3 percent year-over-year clip.

The Guardian - UK

Energy cap leap looks to be moment when UK recession fears turn into reality

Rocketing gas and electricity prices may usher in some benefits – but none will have much impact this winter

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Asharq Al-Awsat

Egypt's Economy Grows 6.6 % in 21/22

Egypt's economy grew 6.6 percent during the fiscal year 2021/2022, compared to a growth rate of 3.3 percent in the previous year, announced the Minister of Planning Hala al-Said. During a cabinet meeting in New Alamein City, Said reviewed indicators of the national economy's performance during the last fiscal year.…

Wales Online

Fake Ofgem energy bill rebate scheme emails prompt warning

Cybercriminals are using the rocketing rates of inflation as a way to target those who are most vulnerable

The Independent UK

Cost of living: How to cope with the rise in prices

Millions of Britons are struggling as the price of everything soars amid rising energy prices and inflation. Kate Ng turns to financial experts for advice on how to deal with it all

Reuters

Dutch railway workers go on strike for higher pay over soaring costs

Dutch railway workers have gone on strike on Friday in the western part of the country, the most populated one, as they seek pay increases to compensate for sky-rocketing inflation.

The Independent UK

Herschel Walker skips details in bid to oust Raphael Warnock

Republican Georgia Senate candidate Herschel Walker has plenty to say about how his Democratic rival, Sen. Raphael Warnock, does his job in Washington

AAP

Wesfarmers lifts dividend, beats estimates

KMart and Bunnings owner Wesfarmers has delivered a better-than-expected dividend and forecast a strong outlook despite inflationary concerns.

The Independent UK

Powell's Jackson Hole speech will stir speculation on rates

When Federal Reserve Chair Jerome Powell delivers what will be his most closely scrutinized speech of the year Friday, investors and economists will be turning over his remarks for any clues about how fast the Fed may continue to raise its short-term interest rate — and for how long

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