inflation

Debit Cards Sent Via Mail Bring Hundreds of Dollars to Help Californians – NBC Los Angeles

Many people were left waiting for their gas reimbursement, but the state legislature decided instead to give people a debit card with money to cope with inflation. The first payment cards have already been shipped to help combat inflation, but many people are still confused. First of all, many people were left waiting for their …

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Larry Summers predicts the Fed will need to raise interest rates more than the market anticipates

Former Treasury Secretary Larry Summers said the Federal Reserve will likely need to raise interest rates more than the market anticipates as prices remain high but grew at slower rates in October. Summers told Bloomberg Television’s “Wall Street Week” with David Westin that the economy has a “long way to go” before inflation is under …

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3 Changes to Social Security in 2023 You Probably Didn’t Know

(Kailey Hagen) Social Security’s purchasing power has been declining for decades, but rarely have seniors felt it as much as they have this year. Record inflation has made pretty much everything more expensive, and that’s made life extremely difficult for those who have little to no personal savings to supplement their checks. But there’s some …

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November jobs report is most important data for inflation this year- and not in a good way

The November US jobs report on Friday showed the US economy gained 261,000 jobs last month, with the unemployment rate holding steady at 3.7%. Economists polled by the Wall Street Journal had expected an addition of 200,000 jobs. Wages jumped 0.6% in November, double the expected pace. Below are some initial reactions from economists and …

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Key inflation measure that the Fed follows rose 0.2% in October, less than expected

Inflation rose in October about in line with estimates, sending a sign that price increases at least might be stabilizing, the Commerce Department reported Thursday. The core personal consumption expenditures price index, a gauge that excludes food and energy and is favored by the Federal Reserve, rose 0.2% for the month and was up 5% …

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Powell: Fed to keep rates higher for longer to cut inflation

WASHINGTON (AP) — The Federal Reserve will push rates higher than previously expected and keep them there for an extended period, Chair Jerome Powell said Wednesday in remarks likely intended to underscore the Fed’s single-minded focus on combating stubborn inflation. Yet in a speech at the Brookings Institution, Powell also signaled that the Fed may …

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