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The Latest Breaking News from Gregory Daco

Fed's unwanted ally in bid to tame inflation: Credit crunch

The Federal Reserve is getting some unwanted help in its drive to slow the U.S. economy and defeat the worst bout of inflation in four decades: A cutback in bank lending

The Independent UK

Powell softens tone and says March rate hike size is not yet decided

Federal Reserve Chair Jerome Powell softened his tone slightly during a second day of congressional testimony, saying policymakers will wait for fresh jobs and inflation data before deciding how much to raise interest rates later this month.

Tribune News Service

America's economy is splitting consumers into two very different realities

Gregory Daco, chief economist at EY Parthenon, expects to see a “K-shaped consumer spending pattern” in 2023, where working class families slow their spending, while wealthy families continue to splurge.

Fortune

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US Fed starts policy meeting with smaller rate hike likely

Washington (AFP) - US central bankers opened a two-day policy meeting Tuesday on rising expectations that they will slow the pace of interest rate hikes again, as inflation begins to fade.

AFP

These are some of the strategies Chipotle, Disney, and P&G are using to retain pricing power

There's no one formula for every company.

Fortune

2 Stocks You Can Buy Now and Hold for the Next 20 Years

The stock market has been under pressure this year amid consecutive rate hikes and recession fears. Moreover, as the market could remain volatile in the short term, investors should focus on their long-term strategies and invest in fundamentally strong stocks, Johnson & Johnson (JNJ) and Molina Healthcare (MOH), which look…

StockNews.com

The Fed’s favorite inflation gauge just came in lower than expected—here's what that could mean for your stock portfolio

Is a ‘goldilocks’ inflation report enough to end the bear market? Experts weigh in.

Fortune

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Oil Could Pass $100, Pushing Up Gas Prices

Gasoline prices will rise along the east coast and in the South while drivers in California, Arizona and Nevada will receive a reprieve.

The Street

Consumer Holiday Shopping Plans Impacted By Inflation

Consumers are still impacted by higher inflation rates for their upcoming holiday purchases.

The Street

Falling Gas Prices are Making Consumers Feel a Little Better

Consumers spent less money on gasoline and clothing in July, but still bought furniture.

The Street

US industrial output jumps in July on solid manufacturing gain

Washington (AFP) - A solid rebound in American manufacturing, especially vehicles, following two months of declines, help push overall industrial production up in July, the Federal Reserve said Tuesday.

AFP

Recession Debate Shifting to Question of When, not if

Economists said the U.S. is not in a recession currently, but one could start in 2023.

The Street

How strong is the US economy? Depends on which party you ask

Analysis: In spite of high employment and robust hiring, many Americans are pessimistic about the economy

The Guardian - US

Biden takes aim at inflation but short on weapons

Washington (AFP) - US President Joe Biden has launched a battle against soaring prices as he tries to claw back waning public support ahead of key congressional elections, but is finding he has few tools to defuse sky-high inflation.

AFP

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AFP

Despite some sharp wage rises, low-paid US workers have far to go

Washington (AFP) - Fast-food employees in Manhattan demonstrating for a wage of $20 an hour: a demand unthinkable before the Covid-19 pandemic has become unexceptional, as short-handed companies offer big wage increases without, however, doing much to narrow a yawning income gap.

Tribune News Service

GDP likely to show ‘misleading’ US weakness as Fed plots path

The U.S. economy’s latest report card — featuring fresh readouts on growth, inflation, spending and wages in the first three months of the year — is set to include a mix of good and bad marks.

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