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The Latest Breaking News from Inflation

Senate confirms Powell for second term as Fed fights inflation

The Senate on Thursday confirmed Jerome Powell for a second four-year term as Federal Reserve chair, giving bipartisan backing to Powell’s high-stakes efforts to curb the highest inflation in four decades

The Independent UK

‘Lack of urgency’ from government on cost of living crisis, senior Tory MP says

PM refuses to be drawn on further action government could take

The Independent UK

Will lifting the minimum wage worsen inflation and raise interest rates?

Wages have become the latest battleground in the election, with debate raging about how much extra workers can get paid without sending businesses broke and consumer prices soaring.

ABC News

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Senate confirms Powell for 2nd term as Fed fights inflation

The Independent UK

Fed chair Jerome Powell confirmed to second term

He is tasked with leading the central bank as it tries to battle surging inflation and financial markets in tumult..

Axios

Powell is confirmed to a 2nd term as Fed chair. Fighting inflation will be his focus

Jerome Powell was confirmed to a second term as Federal Reserve chairman. The Senate vote comes as the central bank faces intense pressure to bring down inflation.

WEKU

Fed Chair Jerome Powell is confirmed for a 2nd term. Inflation will be his focus

Jerome Powell was confirmed to a second term as Federal Reserve chairman. The Senate vote comes as the central bank faces intense pressure to bring down inflation.

WEKU

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5 Consumer Staples Stocks to Protect Your Portfolio from Stagflation

Many experts believe that the Federal Reserve’s aggressive monetary policy to control surging inflation could push the economy into a recession. Since consumer staples companies weather recessionary pressure well because of inelastic demand for their products, we think it could be wise to bet on the stocks of fundamentally sound…

StockNews.com

Why Mortgage and Commercial Loan Rates Won't Go As High As People Think

I’m of the belief that mortgage rates won’t be going as high as some people are forecasting, at least not nearly as quickly. I say this because the dynamic between inflation, FED rate hikes, economic growth, and the bond markets should cause the yield curve to flatten and even invert…

Benzinga

Morrison’s objection to lifting wages in line with inflation puts spotlight on pensions linked to CPI

Prime minister says such a move would be ‘incredibly reckless’ but payments such as pensions are already tied to cost-of-living changes

The Guardian - AU

India wants WTO to play its role in containing global inflation

NEW DELHI: India wants the World Trade Organisation (WTO) to play its role in containing global inflation, which is impacting most of the economies of the member countries.

The Times of India

Iran raises prices of food staples, stirring panic and anger

Iran has abruptly raised prices as much as 300% for a variety of staples like oil, chicken, milk and eggs

The Independent UK

2 Cannabis Stocks to Avoid After Stifel Cuts Their Price Targets

Surging inflation and the Fed’s hawkish monetary policy stance could keep the stock market under pressure in the near term. Amid the uncertainties surrounding the economy and the stock market, Stifel analysts are maintaining a negative outlook on the cannabis industry and have cut their price targets for the stocks…

StockNews.com

Beware of These 4 Overvalued Large-Cap Stocks

Despite the latest federal interest rate increases, the U.S. markets are plumbing record lows amid skyrocketing core inflation. Given the volatile backdrop, we think it could be wise to avoid the stocks of large-cap companies Clorox Company (CLX), Consolidated Edison (ED), Telefónica (TEF), and Avis Budget Group (CAR). These stocks…

StockNews.com

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The Times of India

Tata Motors Q4 consolidated net loss narrows to Rs 992 crore; revenue down at Rs 78,439 crore

NEW DELHI: Homegrown auto major Tata Motors on Thursday reported narrowing of consolidated net loss at Rs 992.05 crore in the fourth quarter ended March 2022 amid challenges of semiconductor shortage and rising inflation.

StockNews.com

4 Buy-Rated Stocks Under $10 to Add to Your Watchlist

Concerns over heightened inflation, the Fed’s tighter monetary policy, deepening supply chain constraints amid the Russia-Ukraine war, and extended lockdown measures in Chinese cities are expected to keep the stock market under pressure for an extended period. So, amid the current risk-off environment, we think it could be wise to…

The Guardian - UK

Swati Dhingra to join Bank of England’s monetary policy committee

LSE academic and prominent Brexit critic is first Asian woman to be appointed to role, replacing Michael Saunders

Benzinga

US Foods Q1 Earnings Lags Street View; Reaffirms FY22 Outlook

US Foods Holding Corp (NYSE:USFD) reported first-quarter FY22 sales growth of 23.9% year-on-year, to $7.8 billion, missing the consensus of $8.59 billion. Total case volume increased 4.1%, and independent restaurant case volume rose 9.2%. The revenue growth was primarily driven by higher total case volume and food cost inflation of 17.3%. Gross profit…

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StockNews.com

4 Promising Small-Cap Stocks to Buy in May

The stock market plunged yesterday after a hotter-than-expected inflation data release. Many analysts believe it will be hard for the Fed to tame the surging inflation without pushing the economy into a recession. However, the market downturn presents an opportunity for investors to scoop up quality small-cap stocks Civeo (CVEO),…

Roll Call

Senate confirms Powell to second term as Fed chairman - Roll Call

The Senate on Thursday confirmed Jerome Powell for a 2nd term as chairman of the Federal Reserve, the third Fed nominee confirmed this week.

The Independent UK

Average long-term US mortgage rates edge up to 5.3%

Average long-term U.S. mortgage rates edged up again this week, with interest on the key 30-year loan at its highest level since 2009

The Guardian - UK

Saudi Aramco overtakes Apple as world’s most valuable company

Soaring commodity prices swell oil giant’s profits as tech stock slide pegs back iPhone maker

Benzinga

Dogecoin Crashes Sharply As Crypto Market Goes Down Bottomless Pit: Who Is To Blame?

Dogecoin (CRYPTO: DOGE) plunged sharply by over 30% to $0.07 in the 24 hours leading up to the early hours of Thursday. The meme coin fell amid a wide rout in the market as the global cryptocurrency market cap dropped 19.15% to $1.2 trillion.

Reason

Senate Democrats Try and Fail To Codify Roe v. Wade Abortion Protection

Plus: Texas' social media law goes back into effect, inflation worries voters, and more...

Benzinga

Utz Brands Boosts FY22 Sales Outlook On Solid Q1 Results

Utz Brands Inc (NYSE:UTZ) reported first-quarter FY22 sales growth of 26.6% year-on-year to $340.8 million, beating the consensus of $311.1 million. Organic net sales improved 20.7% to $324.8 million. Adjusted gross profit grew 10.7% Y/Y to $115.7 million, while the adjusted gross profit margin contracted 487 basis points to 33.9%. The operating loss…

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