Has corporate greed fueled inflation? It’s not the biggest culprit | Health, medicine and fitness

By PAUL WISEMAN – Writer AP Economy WASHINGTON (AP) — Infuriated at rising gas station and grocery store prices, many consumers feel they know exactly where to throw the blame: on greedy companies that relentlessly drive up prices and reap the profits. In response to that sentiment, the Democrat-led House of Representatives last month passed … Read more

Market turnaround: Energy surge can’t raise ASX ahead of expected RBA rate hike

The Australian stock market started the week lower as traders geared up for another rate hike. Energy stocks rose into another week, but ASX investors were further moderate on Monday, ahead of an impending rate hike. Technology stocks were crushed, while the mining and banking sectors also stumbled into another week as the benchmark ASX … Read more

‘Risk’ of sharp rate hike in June, according to Commonwealth Bank

A major bank warned of a “risk” when it comes to interest rate hikes, which could send house prices plummeting and create a “ripple effect” through the economy. The homeowners’ nightmare will continue into next week as the Commonwealth Bank forecasts a major hike in interest rates after its first hike in May after 11 … Read more

Consumer confidence plunges to 10-year low in May – Yahoo Finance

Consumer confidence drops to 10-year low in MayYahoo Finance Consumer Confidence Stuck At 10-Year Low Amid Ongoing Inflation, UMich Study ShowsMarket overview As consumer expectations plummet, some opt for ‘inflation staycation’WXYZ-TV Detroit | Channel 7 As consumer expectations plummet, some opt for ‘inflation staycation’WXYZ 7 Action News Detroit US consumer confidence dips into new decade … Read more

UBS, JP Morgan Cut China 2022 GDP Growth Forecasts On Covid Zero

UBS Group AG and JPMorgan Chase & Co. have lowered their forecasts for China’s economic growth this year after activity was crushed by Covid-related restrictions in April, sparking an even tougher battle for the world’s second-largest economy. On Tuesday, UBS lowered its forecast for annualized gross domestic product growth from 4.2% to 3%, citing the … Read more

Markets see looming recession – Fed sees “soft” landing

Retail sales: percent change from a year ago US Bureau of Labor Statistics Market Volatility in Spades This Week! On Tuesday, the markets were all tweeting (oops, I can’t use that word!) about the big and unexpected spike in retail sales in April (+0.8%). That led to a +2.0% gain in the S&P 500. What … Read more

Consumer confidence unexpectedly rose in March despite inflation

Consumer confidence went up in March despite inflation that has become a top worry for Americans. The Conference Board’s index found consumer confidence rose to 107.2 in a report on Tuesday, Bloomberg reported† In February, consumer confidence was down to 105.7. The confidence could come from the jobs added to the economy and the drop … Read more

US consumers still confident, but outlook not as rosy

SILVER SPRING, Md. (AP) — US consumer confidence bounced back in March and remains high, though consumers’ short-term outlook is not quite as rosy. The Conference Board, a business research group, said Tuesday that its consumer confidence index — which takes into account consumers’ assessment of current conditions and their outlook for the future — … Read more