New Economic Data on Slowing Economy, Persistent Inflation
Core inflation rose 0.3% in June and remained 3.3% above a year earlier, keeping pressure on the Federal Reserve.
- On Thursday, The Commerce Department reported that GDP grew 1.5% in the second quarter, slower than the prior quarter, while Inflation continues exceeding the Federal Reserve's 2% target.
- The Personal Consumption Expenditures Price Index, the Fed's preferred Inflation measure, rose 3.3% since last year; Core Inflation grew 0.3% in the latest month, signaling persistent price pressures.
- Federal Reserve Chair Kevin Warsh stated "Inflation remains elevated relative to the committee's 2% goal," following Wednesday's decision to keep interest rates at around 3.6% in an effort to control price pressures.
- Since Iran started firing on American targets, oil prices have risen back above $92 per barrel on Thursday morning as conflict in Iran drives up energy costs and complicates economic projections.
- Before the Middle East conflict began, oil prices were about $73 per barrel, but volatility remains high as prices fluctuated from $83 on Tuesday back to above $92 per barrel Thursday.
29 Articles
29 Articles
Since the beginning of the year, the Fed has not changed the key interest rate, and there is hardly anything else left for it. The central bankers are practically trapped between high inflation and weak labour markets.
Nigeria to Launch National Data Portal to End Reliance on World Bank Figures - Economi Confidential
The Federal Government has announced plans to establish a national economic data portal aimed at making Nigeria the primary source of its own official statistics instead of relying on international institutions for information about the country's economy. The post Nigeria to Launch National Data Portal to End Reliance on World Bank Figures appeared first on Economi Confidential.
The 2026 Economic Census (SE) serves as a foundation for the government to strengthen the transformation of national data governance, so that every development decision is supported by accurate information.
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