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Europe · WashingtonJerome Powell says he hopes the Fed can achieve a so-called soft landing. The Russian invasion of Ukraine, he said, had made the job more difficult. Europe's central bank is behind the Fed but said it will raise rates in July for the first time in 11 years.See the Story
Powell: 'No guarantee' Fed can tame inflation, spare jobs
57% Center coverage: 37 sources
Business · WashingtonThe Conference Board said Tuesday that its consumer confidence index dipped to 106.4 in May. The Federal Reserve raised its main borrowing rate by a half point in early May, the main mechanism for combatting inflation. The meeting Tuesday will be the first since Biden renominated Powell to lead the central bank.See the Story
U.S. consumer confidence dips in May
65% Center coverage: 26 sources
Business · New YorkThe Dow Jones Industrial Average closed about 1.6% lower. The S&P 500 slid about 2% and the Nasdaq tumbled around 3%. The Conference Board said its consumer confidence index dropped in June to the lowest level since February 2021. Energy was the sole sector of the S-P 500 to post gains Tuesday.See the Story
Wall Street ends sharply lower as consumer pessimism stokes recession fears
48% Center coverage: 25 sources
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Europe · BrusselsEuro zone inflation reached a new record high in June just ahead of the European Central Bank’s first rate increase in 11 years. Fuel prices rose by 41.9% in June while food costs increased by 11.1%. Russia's attack on Ukraine has fueled a climb in energy prices and they were the main driver of the on-year increase.See the Story
Eurozone inflation rose to record high of 8.6% in June
67% Center coverage: 15 sources
Business · WashingtonU.S. futures slipped Friday after the government reported that inflation surged 8.6% in May compared with last year, even more than economists had expected. Shares were mostly lower in Asia on Friday, with only Shanghai rising, after stocks tumbled on Wall Street on expectations central banks will focus on battling inflation with interest rate hikes.See the Story
U.S. Stocks Open Lower as Inflation Persists
54% Center coverage: 13 sources
Business · WashingtonThe FTC said that scammers are trying to trick desperate parents into paying steep prices for formula that never arrives.See the Story
Feds warn of scams amid infant formula shortage
64% Center coverage: 11 sources
Business · WashingtonThe worst bond rout in decades hit a new milestone Monday with the yield on the 10-year Treasury reaching 3% for the first time since late 2018.See the Story
10-Year Treasury Yield Hits 3% for First Time Since 2018
60% Center coverage: 10 sources
Business · WashingtonU.S. inflation-adjusted consumer spending rose in March despite intense price pressures. The gain was driven by services, while merchandise buying dropped. The figures show that even as consumer prices continue to grow at the fastest rate in decades, demand is strong enough to outpace inflation.See the Story
U.S. consumer spending beats forecasts in March; inflation soars
67% Center coverage: 9 sources
InflationThe University of Michigan's gauge of consumer sentiment fell sharply to a record-low reading of 50.2 in June. Economists polled by the Wall Street Journal had expected an June reading of 59.4. The level is comparable to the low point reached in the middle of the 1980 recession, the university said.See the Story
Consumer sentiment plunges to record low in June, according to University of Michigan survey
50% Right coverage: 6 sources
Business · WashingtonApple CEO Tim Cook warns of the privacy and security risks of allowing apps to be installed on iPhones from outside of its app store. Cook's comments echo a warning that Apple and Google have issued as policymakers draft legislation that would make the companies let consumers install apps from outside their app stores.See the Story
Tim Cook cautions against antitrust legislation
62% Center coverage: 8 sources
Economy · SpainConsumer prices in Spain rose 10.2% in June, according to the Instituto National de Estadistica. That increase was sharply higher than the consensus estimate of 9.2%. The inflation jump was driven by the cost of fuel, food and nonalcoholic beverages, and higher prices for hotels, cafes and restaurants.See the Story
Canaria in the coalmine? Spanish inflation rate notches a 37-year high of 10.2%.
Coverage: 2 sources
