John and Theresa Anderson meandered through the sprawling Ralph Lauren clothing store on Rodeo Drive, shopping for holiday gifts. They emerged carrying boxy blue bags. John scored quarter-zip sweaters for himself and his father-in-law, and his wife splurged on a tweed jacket for Christmas Day. “I’m going for quality over quantity this year,” said John,…
WASHINGTON — President Trump made dozens of promises when he campaigned to retake the White House last year, from boosting economic growth to banning transgender athletes from girls’ sports. But one pledge stood out as the most important in many voters’ eyes: Trump said he would not only bring inflation under control, but push grocery and energy…
The government’s long-delayed November inflation report appeared, at first glance, to deliver welcome news: Consumer prices rose only 2.7% from a year earlier, while core inflation cooled to 2.6%, the lowest reading in years. But for many economists, the numbers immediately raised red flags, especially on housing, the single largest component of inflation. “This is…
It was the week before Christmas, and Americans got one more dispiriting look at the jobs market. After a year of stalled hiring and “ghost jobs,” Americans are going back to school, retraining, and trying to get off the sidelines. But they’ve been flying blind after the longest federal government shutdown in history clouded the…
Shoppers purchase groceries at the upscale LuLu Hypermarket located in the Lulu International Shopping Mall in Kerala, India, on May 25, 2022. Nurphoto | Nurphoto | Getty Images India’s consumer inflation rose to 0.71% in November, accelerating from an all-time low of 0.25% in the prior month. The headline inflation number was in line with…
Today is like Christmas morning for markets: Will they be granted their wish for December, and have a final interest rate cut for the year delivered by Santa Jerome Powell? So far, the signs are pointing to yes. Investors priced in an 87.6% likelihood of a reduction from the Federal Open Market Committee (FOMC) this…