Markets Insider

The economy is flashing fresh warning signs a recession is on its way, according to Societe Generale. The French bank pointed to three worrying data points that have raised red flags in the past week. The firm is sticking to its recession call despite growing optimism over a soft-landing. The...

3 signs the US economy is nearing a recession have flashed in the last week, SocGen says

Snopes

"Grocery prices have fallen, and wages are rising faster than prices," U.S. President Joe Biden said.

Fact Check: Core Inflation in US at Its Lowest Since April 2021?

WASHINGTON (AP) — A measure of prices that is closely tracked by the Federal Reserve suggests that inflation pressures in the U.S. economy are continuing to ease. Friday's Commerce Department report showed that consumer prices were flat from April to May, the mildest such performance in more than four years. Measured from a year earlier, prices rose 2.6% last month, slightly less than in April.

Core Inflation at Lowest Levels Since 2020 says Fed Guage

A closely watched government report showed that prices were essentially unchanged in May, a welcome sign for those hoping for relief from inflation and the high interest rates designed to combat it. The annual inflation rate as measured by the Personal Consumption Expenditures (PCE) index, the Federal Reserve's preferred measure,...

What Friday's Inflation Report Tells Us About Future Interest Rate Cuts

Treasury Secretary Janet Yellen thinks the Federal Reserve could hit its 2% inflation target in 2025, with a soft landing well in her sights. Yellen told Yahoo Finance in an interview published Monday that she does “not see the basis” for a U.S. recession, pointing to the Fed’s caution around cutting interest rates too soon to avoid tipping the economy into the red as “the balancing act that they have.”

Janet Yellen says inflation will return to normal without a recession

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NewSantaAna

The FBI has seen a rise in scams targeting timeshare owners. In this kind of scam, criminals con these part-time property owners into shelling out hefty sums of cash, all under false pretenses related to their timeshare properties.

FBI warns that Mexican cartels are targeting Americans with timeshare scams

California State

Alameda Post

California regulators just stopped AT&T from pulling the plug. California’s Public Utilities Commission on June 20 rejected AT&T’s application to stop providing landlines and other services in areas where there is no other option.

Still Need Your Landline?

New York Post

The Dow jumped nearly 600 points Friday as investors breathed a sigh of relief after the Federal Reserve’s preferred inflation measure met Wall Street’s expectations – reignited optimism for a fall rate cut.

The personal consumption expenditures (PCE) price index increased 0.3% last month, the Commerce Department’s Bureau of Economic Analysis said on Friday, matching the unrevised gain in March.

In the 12 months through April, the PCE price index rose 2.7% after advancing at the same pace in March. Economists polled by Reuters had forecast it would climb 0.3% on the month and 2.7% on a year-on-year basis. 

Friday’s data suggested the...

Dow soars nearly 600 points after inflation gauge closely watched by Fed reignites hope for fall rate cut

Veterans Administration loans are excellent tools for current and former military members to realize their homeownership dreams. Most VA loans are offered as a partnership between private lenders and the U.S. Department of Veterans Affairs, so they work a little differently than other mortgages—starting from when you first apply.

How to Apply for a VA Loan

CNBC’s Rick Santelli joins ‘Squawk Box’ to break down May's personal consumption expenditures price index.

Key inflation gauge matches estimates

NEW YORK (Reuters) - A series of upcoming economic reports and Congressional testimony from Federal Reserve Chairman Jerome Powell could jolt U.S. government bonds out of a narrow trading range. Yields on benchmark U.S. 10-year Treasuries, which move inversely to bond prices, have bounced between about 4.20% and 4.35% since...

Jobs, inflation data may break the US Treasury market out of narrow range

Reuters

TOKYO (Reuters) -Core inflation in Japan's capital accelerated in June on rising fuel bills and the boost to import costs from a weak yen, data showed on Friday, keeping alive expectations for a near-term interest rate hike by the central bank.

Inflation in Japan's capital accelerates, keeps BOJ rate hike prospects alive

Missouri State

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CJ Coombs

The first time my family walked into a Ponderosa Steakhouse was in the late 1960s. It was new and the experience was great. Like other new restaurants, if the management doesn't stay on top, the quality of service can decline. The location we went to did change through the years, but in the beginning, it was great.

The 1960s: the Ponderosa and Bonanza Steakhouses are still around in some states

A nation-leading 6.00% CD from Nuvision Credit Union, with a 10-month term, remains available. But the CD is limited to a maximum deposit of $5,000. A dozen additional CDs are paying 5.40% and up, including a runner-up rate of 5.55% on terms of 5 or 11 months. Offering a longer...

Top CDs Today, June 27, 2024 - 6% Leading Rate Guaranteed Until 2025

Mortgage rates fell this week to their lowest level since early April, taking some pressure off America’s unaffordable housing market.

Mortgage rates fall to their lowest level in almost three months

U.S. Treasury yields were higher on Wednesday as investors considered the latest comments from Federal Reserve officials about monetary policy and awaited key economic data. Yields and prices move in opposite directions. One basis point is equivalent to 0.01%. Treasurys. Investors digested remarks from Federal Reserve officials about the U.S....

Treasury yields climb as investors weigh comments from Fed speakers

Home prices have been at a record high, pushing homebuying out of reach for many and slowing down the real estate market. However, a record-low number of contracts signed indicates homebuyers are unwilling to pay high prices. Sellers are responding by taking listings off the market or compromising on how...

Homebuyers Are Fed Up With High Prices

New York City, NY

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The e-Texan

New York – As Trump anticipates his sentencing on July 11th in the New York hush money case, Florida Judge Aileen Cannon made a ruling this Monday. Despite rejecting Trump’s legal team's request to dismiss several charges in the classified documents case, she conceded on a minor point. She removed a portion of the charges that referenced an uncharged allegation, but upheld the other charges.

Legal expert says Trump should not be jailed after New York guilty verdict because he is ‘too old’

Denver, CO

David Heitz

The mother of a Denver homeless man told the City Council Monday that city-sponsored services have failed her son. Barbara Hallick Yeomans made her remarks during public comment period of the City Council meeting. She said her son grapples with substance abuse and mental illness and repeatedly has been harassed by police. She said her son also suffered verbal abuse by a guard in the Denver County Jail. Yeomans said she heard the guard harassing her son over the phone.

Mother says Denver homeless services have failed her son

Consumers have pulled back on many areas of discretionary spending, but steakhouse chains have managed to keep thriving. LongHorn and Texas Roadhouse reported comparable sales growth in their most recent quarters, while a number of other restaurants have reported lower sales. Other industries, like fast food and retail, have reported...

Why Business Is Booming for Steakhouses Like LongHorn and Texas Roadhouse

NewsBreak

US Economy News Today: Inflation Slowed in May, Buoying Rate Cut Hopes

Welcome to Investopedia's economics live blog, where we explain what the day's news says about the state of the U.S. economy and how that's likely to...

US Economy News Today: Inflation Slowed in May, Buoying Rate Cut Hopes

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