Inflation Cooled Last Month as Gas Prices Fell, Though Costs Remain Elevated
Warsh kept the federal funds rate unchanged for a second meeting as he pursues AI tools and five task forces to modernize Fed policy.
- Federal Reserve Chair Kevin Warsh is maintaining steady interest rates while abandoning traditional forward guidance, forcing markets to react to incoming economic data rather than Fed cues.
- Since taking the Fed helm 10 weeks ago, Warsh has pursued a "new chapter" at the central bank, encouraging staff to use AI bots named "Milton" and "Tobin" for economic analysis.
- Headline inflation reached 3.5% over the past 12 months while unemployment remains low at 4.2%; the 10-year Treasury yield climbed to 4.74% amid investor concerns about inflation containment.
- Investors struggle to interpret Warsh's silence; a recent press conference sparked a steep bond sell-off that sent the Dow Jones Industrial Average down 840 points, triggering increased market volatility.
- Warsh appointed five task forces last month to re-examine Fed operations, including data processing and communication, with findings expected by year-end.
153 Articles
153 Articles
Producer prices fell to 4.7% in July amid inflation concerns
Inflation, as measured by the producer price index, fell eight-tenths of a percentage point to 4.7% for the year ending in July, the Bureau of Labor Statistics reported on Thursday. Economists have been closely examining PPI reports and other inflation reports amid the war with Iran and concerns that the energy price pressures will continue to translate through to higher overall inflation. ‘SUBSIDIES ON TOP OF SUBSIDIES’: SUPPLY-SIDERS PUSH BACK…
The Daily Caller
Data Shows Iran War Reignited Inflation, Wrecked Economy For Working Americans
Wednesday’s inflation data showed that the rate of price increases slowed slightly in July, but the damage remained for working-class Americans due to the Iran War.
Evening Standard
Stocks steady as US inflation cools as expected
US inflation figures took top billing as the market weighs the chances of an interest rate increase by the Federal Reserve.
US inflation slows slightly in July despite elevated fuel prices
The consumer price index (CPI) rose 3.4 percent on a year-on-year basis, slowing from a 3.5 percent increase a month ago, according to data released by the US Bureau of Labor Statistics on Wednesday. The data was in line with the expectations of economists polled by Dow Jones Newswires and the Wall Street Journal. US households have been battered by more than five years of elevated prices since the pandemic hit, and the July data is still well a…
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