Federal Reserve Chairman Jerome Powell’s inflation dashboard is starting to show some signs of overheating. From spreading price increases to rising wages, it’s signaling more caution on the inflation front than when Powell unveiled the benchmarks less than three months ago. In a speech to the Fed’s annual Jackson Hole conference, held virtually in late […]
U.S. Deputy Treasury Secretary Wally Adeyemo said that the dollar will continue to be the world’s dominant currency despite increasing interest in cryptocurrencies. “One of the things that we know is that digital assets present an opportunity in lots of ways for the economy, but potentially it presents challenges,” Adeyemo told CNBC’s Hadley Gamble on […]
U.S. shoppers accelerated their level of spending in October even as the prices of goods jumped at their fastest pace since the 1990s, the Commerce Department reported Tuesday. Retail sales, a measure of how much consumers spent on goods ranging across categories from autos to sporting goods and food and gas, increased 1.7% for October, […]
Treasury Secretary Janet Yellen on Tuesday told lawmakers that she now estimates that the U.S. will reach its debt limit on Dec. 15, almost two weeks later than her initial forecast of Dec. 3. Those additional 12 days would offer Congress more time to strike a deal on how to lift or suspend the debt […]
U.S. stocks rallied to just shy of record highs Tuesday as traders celebrated a jump in retail sales a day after President Biden signed the $1.2 trillion bipartisan infrastructure bill. The Dow Jones Industrial Average rose 56 points, or 0.16%, while the S&P 500 index and the Nasdaq Composite index added 0.39% and 0.76%, respectively. […]
Lucid Group’s market value blew past Ford Motor on Tuesday to $89.9 billion following a 24% runup in the EV start-up’s stock price after executives told investors that reservations for its first vehicles had jumped and that its production plans for 2022 were still on track. The surge in the stock price also brought Lucid […]
This Thanksgiving, your pie doesn’t have to be pumpkin. Hershey has released a Reese’s Thanksgiving Pie, the largest Reese’s Peanut Butter Cup ever made. It’s 9 inches long and 3.25 pounds of solid peanut butter and chocolate. “When you bring together friends and family for Thanksgiving dinner, no table spread is complete without dessert,” said […]
Boston has the second-most expensive ZIP code in the country, and Massachusetts is represented seven times on the Top 100 list, according to a new real estate ranking. The 02199 in Boston’s Back Bay has a median sale price of $5.5 million, trailing only the San Francisco suburb of Atherton at $7.475 million, according to […]
Economists predict a boom in October’s retail sales, aided by rising gasoline prices and early holiday shopping. Retail sales are expected to rise 1.5%, up from September’s 0.7% gain, according to economists polled by Dow Jones. Excluding autos, sales are forecasted to rise 1%, compared to the 0.8% increase a month earlier, Dow Jones found. […]
BEIJING — Even as China’s newly rich internet celebrities keep smashing livestreaming sales records, businesses are finding other strategies that might work better for their brands. Livestreaming is here to stay, many analysts say, but relying on a system of internet personalities and views will no longer be enough. The real-time online selling phenomenon — […]
You probably don’t need a news report to tell you that gasoline prices have been surging. Prices are at a seven-year high, up more than a dollar from a year ago. Rising energy costs, including gasoline as well as natural gas and coal, are a major driver of high inflation. That’s putting pressure on household […]
SINGAPORE — Shares in Asia-Pacific were mixed on Monday as investors reacted to the latest Chinese economic data for October. Mainland Chinese stocks closed lower, with the Shanghai composite slipping 0.16% to 3,533.30 while the Shenzhen component dipped 0.469% to 14,636.39. Hong Kong’s Hang Seng index sat little changed, as of its final hour of […]
