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Day: August 11, 2021

July consumer prices jump 5.4%, but core inflation rises less than expected

Prices that Americans pay for everyday goods and services rose in July as pent-up demand for travel and restaurants kept inflation hot, but jumped about as much as economists had expected. The Labor Department reported Wednesday that its consumer price index rose 5.4% in July from a year earlier, in line with June’s figure and …

July consumer prices jump 5.4%, but core inflation rises less than expectedRead More

Fed should announce bond taper in September, begin it in October, says Dallas Fed President Kaplan

Dallas Federal Reserve President Robert Kaplan said Wednesday that the central bank should begin to taper its monthly purchases of Treasury bonds and mortgage-backed securities in October. His view that the central bank ought to begin cutting back in two months is perhaps the most ambitious from a Fed president to date. Other high-ranking Fed …

Fed should announce bond taper in September, begin it in October, says Dallas Fed President KaplanRead More

Will ‘King Dollar’ Reclaim its Throne as the Fed Tapers?

One by one, Fed officials are getting behind the idea that their asset purchases should be dialed back soon. Whether this is announced in September or November doesn’t matter much. What matters is that the Fed is years ahead of the ECB and BoJ in the normalization game. The dollar held its ground recently even …

Will ‘King Dollar’ Reclaim its Throne as the Fed Tapers?Read More

US CPI Recap: Have Hopes of a Jackson Hole Taper Announcement Been Dashed?

Some traders were still holding out hopes that another scorching inflation print could spook the Fed into announcing its taper plan at Jackson Hole; with today’s data merely meeting expectations, those hopes may now be dashed. With Federal Reserve members growing increasingly hawkish following Friday’s strong NFP report, traders and policymakers were keying in on …

US CPI Recap: Have Hopes of a Jackson Hole Taper Announcement Been Dashed?Read More

Dollar Paring Gains after CPI Release, Commodity Currencies Jump with Stock Futures

Dollar drops notably in early US session after consumer inflation data. Headline CPI was steady while core CPI slowed a little. At least, inflation hasn’t been worsening from Fed’s “transitory rhetoric”. US stock futures also jump, probably on reduced concerns over monetary tightening. New Zealand and Australian Dollars are currently the strongest, followed by Swiss …

Dollar Paring Gains after CPI Release, Commodity Currencies Jump with Stock FuturesRead More

White House to call on OPEC to boost oil production as gasoline prices rise

The White House will call on OPEC and its oil-producing allies to boost production in an effort to combat climbing gasoline prices, amid concerns that rising inflation could derail the economic recovery from Covid. Biden administration officials spoke with representatives from OPEC’s de facto leader Saudi Arabia this week, as well as with representatives from …

White House to call on OPEC to boost oil production as gasoline prices riseRead More