10 stories
America's inflation problem is becoming harder to contain, with new evidence Wednesday that price pressures are extending beyond the war-related energy shock rattling the global economy.Why it matters: Inflation is squeezing household budgets and dimming hopes for relief.
Data: Bureau of Labor Statistics; Chart: Courtenay Brown/AxiosU.S. inflation picked up in September as soaring energy prices added to already stubborn price pressures, the Labor Department said on Wednesday.Why it matters: The latest Consumer Price Index shows that the inflation fight is far from…
Data: Federal Reserve Survey of Consumer Finances; Chart: Neil Irwin/AxiosMiddle- and lower-earners' inflation-adjusted incomes rose during the Biden years — but high earners saw their incomes fall.That's a surprising finding from one of the most thorough datasets on American household finances,…
CNBC’s Jim Cramer said Thursday’s sell-off in AI stocks underscores the importance of diversification, even when it means holding stocks that have struggled.
Some companies are preparing for an AI-fueled chip squeeze that could push up prices far beyond the data center boom alone, Mary Daly, president of the Federal Reserve Bank of San Francisco, tells Axios.Why it matters: The Fed can usually look through supply shocks that come and go.
Mortgage rates spiked to their highest level in nearly three years, continuing their climb above the 7% threshold. Why it matters: Housing sales were already slow due to a lack of inventory and elevated rates, creating a risk that the market could further its freeze.Zoom in: The weekly average…
The relentless rise in long-term interest rates is starting to have effects on more parts of the economy, Kansas City Fed president Jeff Schmid told Axios Thursday."You're starting to see some friction in some of the long-market users of credit," he said, pointing to multifamily housing and…
South Korea’s exports extended their breakneck growth in September as global demand for artificial intelligence continued to power semiconductor shipments, reinforcing expectations that the trade-dependent economy can withstand higher interest rates.
Bitcoin enjoyed a brief respite along with other risk assets such as stocks amid the expectation that another rate hike is unlikely next month.
The rising cost of airfare, eating out, and gas has made Americans pickier about their spending.
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