The Fed is undertaking one of its fastest-ever shifts. The central bank is trying to control inflation. Barkin says he expects inflation to come down. Thomas Barkin, Richmond Federal Reserve president said that the U.S. economy is easing back as buyers are rocked by expansion and pandemic-driven interest for products gets back to additional ordinary … Read more
U.S. stock markets have stabilized in July after a brutal selloff in the first half. The benchmark S&P 500 index (.SPX) has risen 3% so far this month, after recording its steepest first-half percentage drop since 1970. The S&P 500 rose 1.36%, while the Dow Jones gained 0.89%, and the Nasdaq added 2.21%. Wall Street … Read more
After failing to strike a salary agreement with the airline. Licensed aviation engineers employed by Qantas Airways. Will vote on work stoppages of up to 12 hours and overtime bans. Qantas Airways Ltd’s (QAN.AX) unionized authorized airplane engineers are deciding on work stoppages of as long as 12 hours and extra time. Restrictions from the … Read more
Cleveland Federal Reserve President Loretta Mester says she doesn’t see evidence that inflation has peaked. She is on board with supporting a series of aggressive interest rate increases. Average hourly earnings rose by 0.3% from a month ago, slightly less than expected. While other late information focuses have shown that essentially the pace of expansion … Read more
At Walmart store thousands of employees gathered at a huge arena on Friday for the annual pep rally. CEO Doug McMillon acknowledged the new challenge facing the company: Inflation. Walmart’s workforce is “resilient and we love the challenge of retail,” he said. “We have been really buckling down on costs through and through, making a … Read more
