Recap and Implications of Jan 31 Fed Meeting
Mario Stampone Staff Writer Most recently, the Federal Reserve’s Open Market Committee (FOMC) met on January 30-31. The question of the
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Inflation
October CPI Report Telling’s
Tyler Fernandes Staff Writer With the recent publication of the October Consumer Price Index report, we have some new insight into
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What the Fed Had to Say: September FOMC Meeting
On Wednesday, September 20, investors eagerly awaited the highly anticipated Federal Open Markets Committee (FOMC) meeting, where Jerome Powell of the Federal Reserve (The Fed), and his team made a pivotal decision to hold interest rates steady, with the current federal funds target rate sitting at 5.25%-5.50%, representing a 22-year high.
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What Mass Tech Layoffs Might Mean For Economy
By the first week of December, Twitter had let go about half of its 7,500-employee workforce… But layoffs in the tech sector have been rampant both before and after the Twitter news. In 2022, 140,000 jobs were slashed from both public and private organizations in the industry.
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IRS Adjusts Tax Brackets by 7%
On October 18th, the Internal Revenue Service (IRS) announced the annual inflation adjustments for the 2023 tax year. Many key tax provisions, including the income thresholds for the federal tax brackets, will increase by about 7% to account for the high inflation Americans have seen throughout 2022.
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Labor Department Reports Consumer Price Index of 8.3 Percent, Sending Markets Into Turmoil
The most recent Consumer Price Index (CPI) report brought some bad news for investors. After consistent monthly rate hikes from August of 2021 to June of 2022, July showed no increase giving some belief that inflation could have possibly hit its peak and could begin to come down.
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Fed’s Inflation Policy Complicated by Invasion
With inflation steadily increasing due to the numerous issues dealt with in the last two years, investors and consumers show concern as prices continue to rise. Many Fed officials have discussed a strict, aggressive approach to battle these rising costs. But now the long-awaited interest rate hike from the Federal Reserve faces a challenge. The Russian invasion of Ukraine.
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Turkey Attempts to Stabilize the Lira
Turkey’s economy, similar to every other nation, has taken a hit with inflation rates. But unlike every other country, President Recep Tayyip Erdogan has refused talks of possible increases in interest rates.
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China’s Factory Inflation Grows at Fastest Pace in Years
Fears of stagflation are mounting in China as factory gate prices accelerate, which are costs at which wholesalers buy materials from producers. At the same time, there is a slew of contributing factors.
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Roaring Twenties
The US economy is booming, adding nearly 1 million jobs last month, bringing the unemployment rate down to 6%. Goldman Sachs has bumped up its estimate for the US’s 2021 GDP growth to 10%. If true, the US would replace China as the world’s primary driver of economic growth this year.
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