Despite data to the contrary, the Treasury Secretary made the case that the K-shaped economy no longer exists.
Category: Inflation (Economics)
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Bessent Declares Widening Gap Between Rich and Poor ‘Dead’
The New York Times – Business: -
Warsh Wanted ‘Regime Change.’ Markets Are Demanding a Reset.
The New York Times – Business:After his latest appearance set off a bout of volatility, Kevin M. Warsh, the chairman of the Federal Reserve, is under pressure to clear up mixed signals about his commitment to getting inflation down.
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How the War in Iran Is Complicating Trump’s Agenda at Home
The New York Times – On the Runway:As President Trump heads to the West Coast to talk to Americans about the economy, the war in Iran is driving up costs and polls show the already unpopular conflict is losing support.
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Here’s Why the US Is Helping Prop Up the Japanese Yen
The New York Times – Business:The U.S. Treasury joined efforts in Tokyo to stem the yen’s slide against the dollar, highlighting the broader risks posed by turmoil in Japanese markets.
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Inflation Worries Prompted Fed Officials to Dissent on Holding Rates Steady
The New York Times – Business:Internal divisions over whether to raise interest rates intensified at Kevin Warsh’s second meeting as chairman of the Federal Reserve.
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Europe Is Caught Between Low Gas Reserves and Rising Prices From Iran War
The New York Times – Business:Across Europe, reserves of natural gas for use in the winter months are lagging, meaning continued higher prices for households and businesses.
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Plug-In Solar Panels Are Starting to Sprout in U.S. Backyards
The New York Times – Business:Ten U.S. states have legalized systems that can be plugged into standard wall outlets. The technology typically does not require permits or electricians.
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Bond Investors’ Inflation Angst Rises on Fed’s Lack of Guidance
The New York Times – Business:The yield on government bonds, which underpins borrowing costs from mortgages to business loans, remained elevated over concerns about the Federal Reserve’s efforts to contain inflation.
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A key inflation measure eased in June during a pause in the war with Iran.
The New York Times – Business:Price pressures eased during a brief reprieve in the war with Iran, but the resumption of fighting suggests that inflation risks are still prevalent.
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Fed’s Preferred Inflation Gauge Eased During Pause in Iran War
The New York Times – Business:Price pressures eased during a brief reprieve in the war with Iran, but the resumption of fighting suggests that inflation risks are still prevalent.
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U.S. Economy Grew More Slowly in the Second Quarter
The New York Times – Business:Gross domestic product expanded at a 1.5 percent annual rate over the past three months, as war in the Middle East shook energy prices and supply chains.
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A ‘Credibility Shock’ Looms Over the Fed
The New York Times – Business:Bonds sold off sharply after the Federal Reserve’s latest rate decision, signaling growing turmoil between the markets and the central bank.