Stubbornly high rents and food prices boost US inflation in August

The consumer price index increases by 0.1% in August Rents, food and health care explain the rise in the CPI Core CPI jumped 0.6%; increased 6.3% year-over-year WASHINGTON, Sept 13 (Reuters) – U.S. consumer prices rose unexpectedly in August and core inflation accelerated amid rising rent and health care costs, giving the Federal Reserve ammunition … Read more

Oil settles below $90 as recession fears grow

An oil pump jack pumps oil in a field near Calgary, Alberta, Canada, July 21, 2014. REUTERS/Todd Korol/File Photo Join now for FREE unlimited access to Reuters.com Register Sep 7 (Reuters) – Oil prices slumped on Wednesday, falling below levels seen before Russia invaded Ukraine as downbeat Chinese trade data fueled investor worries about recession … Read more

Lower gasoline prices are dampening consumer spending in the United States; monthly inflation slows down sharply

Consumer spending increases by 0.1% in July The decline in gas stations explains the slight increase The Core PCE price index edged up 0.1%; up 4.6 year-over-year WASHINGTON, Aug 26 (Reuters) – U.S. consumer spending barely rose in July as falling gasoline prices hurt sales at gas stations, but monthly inflation slowed sharply, which could … Read more

Biden Forgives Millions in Student Loans; critics fear inflation

WASHINGTON, Aug 24 (Reuters) – President Joe Biden said on Wednesday the U.S. government would forgive $10,000 in student loans to millions of indebted former students, fulfilling a promise he made during the 2020 campaign to the White House. The move could bolster support for his fellow Democrats in November’s congressional elections, but some economists … Read more

EXCLUSIVE Biden’s emergency board calls for railroad wage hikes to resolve contract talks

U.S. President Joe Biden walks to Air Force One as he departs for Washington, D.C., from Joint Base Charleston, South Carolina, U.S., August 16, 2022. REUTERS/Joshua Roberts Register now for FREE unlimited access to Reuters.com Register WASHINGTON/LOS ANGELES, Aug 16 (Reuters) – U.S. President Joe Biden’s emergency board tasked with helping major freight railroads and … Read more

Oil rises as Russian pipeline shutdown reignites supply fears

Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus Mordant Join now for FREE unlimited access to Reuters.com Register Russia’s oil exports halted via southern section of Druzhba pipeline EU proposes ‘final’ text to resuscitate Iran nuclear deal Recession, … Read more

Oil prices at lowest since Ukraine invasion amid recession fears

FILE PHOTO – A PetroChina worker inspects a pump cylinder at an oilfield in Tacheng, Xinjiang Uyghur Autonomous Region, China June 27, 2018. REUTERS/Stringer AT Join now for FREE unlimited access to Reuters.com Register BoE raises rates and warns of recession risks Saudi Arabia and the United Arab Emirates save their oil firepower in the … Read more

Oil falls to nearly 6-month lows after surprise U.S. crude, gasoline build

Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus Mordant Register now for FREE unlimited access to Reuters.com Register U.S. crude, gasoline stockpiles rise unexpectedly – EIA OPEC+ decides on small 100,000 bpd increase to output target U.S. had … Read more