Despite high inflation over the past few years, buying power has gone up because pay raises have more than kept up. Typical hourly pay goes farther now than it did before the pandemic, according to the latest data on wages and consumer prices. More members of the public say they're...

Believe It Or Not: Lower Inflation and Higher Wages Have Made Paychecks Go Further

Money

The Federal Reserve is now widely forecasted to cut interest rates by September after new inflation numbers came in lower than expected. The latest consumer price index (CPI) report showed that inflation has cooled to a 3% annual rate, tying the lowest level since March 2021. Overall, prices declined 0.1% for the month.

Get Ready for Interest Rate Cuts in September, Analysts Say

CBS News

Consumer prices are continuing to moderate, with June data showing U.S. inflation is once again cooling after unexpectedly high readings earlier this year. The new report could help bolster the case for an interest rate cut from the Federal Reserve in September.Consumer prices declined 0.1% in June from May, with inflation curtailed by lower gas prices and a smaller increase in costs at the grocery store. On an annual basis, inflation registered at 3.0%, down from 3.3% in May, indicating that inflation is cooling faster than expected, as economists polled by FactSet had forecasted an increase of 3.1%.The reading is...

In a boost for consumers, U.S. inflation is cooling fast

Washington, DC

Fox Business

Federal Reserve Chair Jerome Powell said Monday that policymakers will not wait until inflation falls to 2% before they pivot to cutting interest rates.

Fed's Powell says officials won't wait until inflation reaches 2% to cut rates

Contributors represent independent, third-party users who have joined our contributor program and self-verified their accounts. They have also demonstrated their experience writing hard news for other outlets. Contributors are expected, like all users, to adhere to our Community Standards.

contributor

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

Pennsylvania State

Bucks County Beacon

With an assassination attempt on Donald Trump at a rally in Pennsylvania on July 13, 2024, the U.S. experienced another violent episode in its increasingly polarized politics. Former President Trump, who’s about to formally become the GOP nominee for president in the 2024 election, survived the attempted assassination when, initial reports said, a bullet grazed his ear . But one rally attendee was killed , more spectators were injured and the suspected gunman is also dead. The Conversation’s politics editor, Naomi Schalit, spoke with University of Massachusetts, Lowell, scholar Arie Perliger after the event. Perliger offered insight from his study of political violence and assassinations. Given the stark political polarization in the U.S., Perliger said, “it’s not a surprise that eventually people engage in violence.”

‘One Inch from a Potential Civil War’? Trump Shooting a Close Call for American Democracy

California State

Community Voices represent independent, third-party users who have joined our contributor program but not yet verified their accounts. Community Voices are expected, like all users, to adhere to our Community Standards.

community_voice

The HD Post

CALIFORNIA – Starting July 1, landlords will only be allowed to collect one month’s rent for the security deposit on a rental property. Assembly Bill 12, signed into law last October, says regardless of whether the residential property is unfurnished or furnished, only one month’s rent can be charged in addition to any rent for the first month paid on or before initial occupancy.

Law limiting security deposits goes into effect July 1

Rates were prepared to make a big move in one direction or the other heading into today's high stakes inflation data. Fortunately, the Consumer Price Index (CPI) came in quite a bit lower than expected, leading to a sharp decline in rates at the average lender. 30yr fixed rates had...

Mortgage Rates Drop Sharply After Inflation Data

Chicago, IL

Writers represent independent, third-party users who have joined our contributor program and self-verified their accounts. Writers are expected, like all users, to adhere to our Community Standards.

writer

Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

New York City, NY

Cheryl E Preston

Yesterday was the third time this year that an ad stating Chelsea Clinton lives in a beautiful Virginia home popped up on my laptop. My computer did not warn me this was a dangerous site, so this time, I clicked on the link.

Chelsea Clinton is rumored to be living in Virginia but probably still in NYC

Argentina’s inflation rate was forecast to have increased by 5% in June, breaking a five-month streak of cooling price rises and threatening much-needed economic growth for the country. President Javier Milei’s libertarian plan to salvage the country’s broken economy, which includes the devaluation of the local currency by more...

Argentina’s expected inflation rate rise threatens economic growth

Kentucky State

Northern Kentucky Tribune

Kentucky’s Community Actions Partnerships have announced the starts date for the Low-Income Home Energy Assistance Program (LIHEAP) Summer Subsidy, aimed at helping Kentucky households offset summer cooling costs.

LIHEAP Summer Subsidy program to help with summer cooling costs to begin enrollment July 16

Virginia State

Virginia fans of The Bold and the Beautiful are pretty much unified in their expectations of what will happen between Thomas Forrester (Matthew Atkinson) and Paris Buckingham (Diamond White), who recently announced their engagement.

The Bold and the Beautiful fans believe Thomas will dump Paris for Hope

New Jersey State

Morristown Minute

NEW JERSEY - Attorney General Matthew J. Platkin and the Division of Consumer Affairs announced today that Walmart has agreed to pay $1.64 million to settle allegations of unlawful unit pricing practices across its 64 New Jersey retail stores. The settlement, which includes a $1.61 million civil penalty, marks the largest ever obtained by the Division’s Office of Weights and Measures (OWM).

Walmart Pays $1.64M Settlement for Unlawful Pricing in NJ

The CPI and PPI reports were likely to show inflation moved sideways in June despite the month’s lower prices of gasoline, diesel, and used cars. Inflation slowed sharply in the second half of 2023, so unless inflation slows even more dramatically in the next few months, the headline year-over-over measure of prices is likely to hold little changed. Shelter costs are an exception, and likely rose at a slower year-over-year pace in June than in May.

Inflation Moves Sideways Despite Lower Gas, Car Prices

Georgia State

The Current GA

People held in Georgia immigrant detention centers will soon face new challenges in their search for lawyers to represent them in immigration court, a development that will likely doom many people’s chances of fighting deportation.

For migrants in Georgia, fighting deportation will become harder. Here’s why.

Reuters

TOKYO (Reuters) - Japan's core consumer inflation probably picked up in June for a second straight month, a Reuters poll of 18 economists showed, keeping the central bank under pressure to raise interest rates.

Japan consumer inflation to quicken as BOJ weighs interest rate hikes: Reuters poll

Denver, CO

David Heitz

A dangerous drug that is being mixed into fentanyl is causing those who inject it to develop a rash of sores that resembles a case of flesh-eating bacteria. People experiencing homelessness around Denver can sometimes be seen with these bloody, weeping wounds. I recently mentioned this phenomenon to a fentanyl user who told me about the xylazine connection.

Denver homeless people suffer sores as xylazine enters fentanyl supply

(Reuters) -The dollar dropped on Thursday after data showed headline consumer prices unexpectedly fell in June, while a sharp gain in the Japanese yen sparked speculation of a possible intervention in the currency.

Dollar drops, yen surges as consumer prices fall in June

The Oklahoma City Sentinel

Mortgage rates fell in the week ending July 11, with fixed rates seeing their largest week-over-week drop since May.
                The 30-year fixed-rate mortgage averaged 6.77%, down 17 basis points from the previous week's average, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point.
                As inflation cools, so should interest rates
           ...

Weekly Mortgage Rates Decline, Following the Rate of Inflation

NewsBreak

Hope for Rate Cuts Gets a Big Boost from Slowing Inflation

Nothing like a little disinflation to make investors feel less deflated about what the Fed might have in store for us. The US economy got a...

Hope for Rate Cuts Gets a Big Boost from Slowing Inflation

Comments / 0