Inflation rose 0.1% in August despite a sharp drop in gasoline prices

Inflation rose more than expected in August as higher housing and food costs offset lower gasoline prices, the Bureau of Labor Statistics reported Tuesday. The consumer price index, which tracks a wide range of goods and services, rose 0.1% for the month and 8.3% over the past year. Excluding volatile food and energy costs, the … Read more

5 things to know before the opening of the Stock Exchange Monday, September 12

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, United States, September 9, 2022. Brendan Mcdermid | Reuters Here are the most important information investors need to start their trading day: 1. Futures contracts look solid American scholarships were set to open higher on Monday morning as investors sought … Read more

Biden to hit China with broader restrictions on US exports of chips and tools: Reuters

U.S. President Joe Biden speaking at the grand opening of Intel’s new semiconductor plant September 9, 2022 in Johnstown, Ohio. The Biden administration plans next month to expand restrictions on U.S. shipments to China of semiconductors used for artificial intelligence and chip-making tools, several people familiar with the matter said. Andrew Lance | Getty Images … Read more

The Ethereum blockchain is ready for a “monumental” overhaul | Crypto News

Cryptocurrency experts say the change, which is expected to take place between Tuesday and Thursday, will reduce power consumption by more than 99%. An army of computer programmers scattered across the globe is ready to attempt one of the biggest software updates in the world. crypto industry has never seen this week to reduce its … Read more

Fed’s Waller predicts ‘significant’ rate hike this month, backs data-dependent approach

On Friday, Federal Reserve Governor Christopher Waller echoed recent sentiments from his colleagues, saying he expects a big hike in interest rates later this month. He also said policymakers should stop trying to guess the future and instead stick to what the data says. “Looking ahead to our next meeting, I support another significant increase … Read more

A massive rail strike next week could deal another blow to the US economy

“We’re hearing more and more that shippers and railroads are getting anxious,” said John Drake, vice president of transportation, infrastructure and supply chain policy for the U.S. Chamber of Commerce. The chamber is calling on both sides to reach an agreement that averts the first nationwide railway strike in 30 years. The unions and the … Read more

5 things to know before the stock market opens on Friday September 9

Trade on the NYSE floor on August 30, 2022. Source: NYSE Here are the most important information investors need to start their trading day: 1. That Friday feeling Equity Futures pointed to a positive opening on Friday morning as U.S. markets headed for a possible winning week after three straight losses. All three major indexes … Read more

5 things to know before the stock market opens on Friday September 9

Trade on the NYSE floor on August 30, 2022. Source: NYSE Here are the most important information investors need to start their trading day: 1. That Friday feeling Equity Futures pointed to a positive opening on Friday morning as U.S. markets headed for a possible winning week after three straight losses. All three major indexes … Read more

European Central Bank makes biggest ever interest rate hike

FRANKFURT, Germany (AP) — The European Central Bank made its largest interest rate hike on Thursday, following the US Federal Reserve and other central banks in a global rush of rapid rate hikes designed to stifle inflation that is squeezing consumers and push Europe into recession. The bank’s board of governors raised its main benchmarks … Read more

Fed Chairman Powell pledges to raise rates to fight inflation ‘until the job is done’

Federal Reserve Chairman Jerome Powell in an appearance on Thursday stressed the importance of bringing inflation down now before the public gets too used to higher prices and comes to expect them like the standard. In his final comments outlining his commitment to fighting inflation, Powell said expectations played an important role and were key … Read more