Mountain View, CA

PBS NewsHour

WASHINGTON (AP) — An inflation measure closely tracked by the Federal Reserve remained low last month, extending a trend of cooling price increases that clears the way for the Fed to start cutting its key interest rate next month for the first time in 4 1/2 years. Prices rose...

As rate cuts near, Federal Reserve’s inflation gauge shows cooling price increases

CBS News

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  Mortgage rates have been high over the last few years, but it appears that may be changing. With inflation cooling, mortgage rates finally dropped in August to 6.47%, the lowest rate across the prior 15 months. Federal Reserve Chair Jerome Powell also suggested last week that the central bank will cut rates in September, which would likely have an impact on mortgage rates. Although these anticipated interest rate cuts offer prospective buyers hope, there's no guarantee of how low rates...

How low could mortgage rates drop this September?

SYDNEY (Reuters) -Australia's economy stayed stuck in the slow lane in the June quarter as stiff borrowing costs and stubborn inflation squeezed consumers, leaving government spending as the main driver of growth. Data from the Australian Bureau of Statistics on Wednesday also revealed that domestic price pressures were still running...

Australia Economy Stuck in Slow Lane, Household Spending Drags

Reuters

ISTANBUL (Reuters) -Turkey's annual inflation tumbled a bit more than expected to 51.97% in August, data showed on Tuesday, continuing a sharp slide due to base effects and food price relief, and keeping the central bank on track for rate cuts in the months ahead.

Turkey inflation tumbles to 52% as disinflation proceeds

The Independent

 The great inflation spike of the past three years is nearly spent — and economists credit American consumers for helping slay it. Some of America's largest companies, from Amazon to Disney to Yum Brands, say their customers are increasingly seeking cheaper alternative products and services, searching for bargains or just avoiding items they deem too expensive. Consumers aren't cutting back enough to cause an economic downturn. Rather, economists say, they appear to be returning to pre-pandemic norms, when most companies felt they couldn't raise prices very much without losing business. “While inflation is down, prices are still high, and...

Americans' refusal to keep paying higher prices may be dealing a final blow to US inflation spike

Contrary to what many believe in, investment research firm BCA Research sees that the economy is on the cusp of a recession. "There's things that are breaking down quite rapidly now," Garry Evans, BCA Research's chief strategist of global asset allocation said on CNBC's "Squawk Box Asia." Contrary to what...

A recession is coming in the U.S., and 'a few rate cuts' won't prevent it, says strategist

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NewsNinja

An Aldi shopper recently shared her disturbing experience with a moldy rice package from the supermarket, sparking debate. A TikTok user named @defonotlils posted a video on June 6 that quickly became popular, accumulating more than 674,600 views. In the video, she shares what happened after finding out about something.

This is why I don’t shop at Aldi: Woman can’t believe what she found in her packaged rice from Aldi

POLITICO

Fissures are forming in the economy just as the Fed’s long-running fight against inflation looks to be nearing its conclusion.

Inflation is easing. Now, Harris has an even bigger problem with the economy.

24/7 Wall St.

Wall Street is expecting the Federal Reserve to begin shifting gears in September following the Federal Open Market Committee’s (FOMC) decision to leave interest rates unchanged at the current target rate of 5.25% – 5.50%, during its July policy meeting.  With a date set, futures traders are beginning to price in the near-term possibility of […]
The post 4 Stocks Ready to Soar If Rates Are Cut This September appeared first on 24/7 Wall St..

4 Stocks Ready to Soar If Rates Are Cut This September

BEIJING (Reuters) - After quitting the education industry last August due to China's crackdown on private tutoring, He Ajun has found an unlikely second life as an unemployment influencer. The Guangzhou-based vlogger, 32, offers career advice to her 8,400 followers, charting her journey through long-term joblessness. "Unemployed at 31, not...

New Unproductive Forces: the Chinese Youth Owning Their Unemployment

OTTAWA (Reuters) - Canadian Prime Minister Justin Trudeau suffered an unexpected blow on Wednesday when the small party helping keep his minority Liberal government in power withdrew its automatic support, forcing him to attempt new alliances to govern. Promising to continue governing and pushing through social programs, Trudeau dismissed talk...

Canadian PM Trudeau Weakened After Main Ally Unexpectedly Pulls Support

Markets Insider

A recession is coming in the US by early next year, one John Hopkins economist predicts.

The economy is flashing a recession signal that's been seen only 4 times in the past century, veteran economist Steve Hanke says

The Fed could cut 125 basis points by the end of the year if the labor market continues to cool, Citi economist Robert Sockin said.

The Fed will go bigger with rate cuts than markets think, Citi economist says

Florida State

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Deltona, FL

Akeena

Aldi, the popular discount grocery chain, is facing significant pushback from shoppers as it moves forward with plans to convert several Winn-Dixie and Harveys Supermarket locations into Aldi stores. The move follows Aldi’s acquisition of Southeastern Grocers, the parent company of these iconic southern grocery chains, earlier this year.

Aldi Faces Backlash as It Converts Winn-Dixie and Harveys Supermarket Locations in Florida

ROME (Reuters) - Italy's foreign ministry said on Tuesday it had summoned the Venezuelan chargée d'affaires in Rome to complain about the arrest warrant that has been issued against opposition leader Edmundo Gonzalez. During the meeting, Italian officials renewed calls for the publication of the results of July 28...

Italy Summons Venezuelan Diplomat Over Arrest Warrant for Opposition Leader

New York Post

Economists have warned investors to “strap in for what could be a bumpy ride” as they predict the US dollar will continue to weaken – and that it could drag Bitcoin down with it. 

Bitcoin has skyrocketed this year — opening at $59,130.31 on Tuesday after starting the year at $44,187.14. But the cryptocurrency’s prices started to come down in late August and have continued to falter in the first days of September.

“September has traditionally been a volatile month for bitcoin, with an average return of 4.78% and a typical peak-to-trough decline of 24.6%,” analysts with the Bitfinex crypto exchange told...

US dollar’s weakness could drag down price of Bitcoin: report

There were 7.7 million jobs open at the end of July, down 200,000 from a downwardly revised 7.9 million in June. Job openings fell the most in health care and social assistance. The number of job openings fell in July and is now more than 1 million below a year...

Job Openings Continue to Fall as the Labor Market Slows

Former Cleveland Fed President Loretta Mester joins 'Squawk Box' to discuss the Fed's inflation fight, state of the economy, what to expect from the August jobs report, rate path outlook, and more.

Former Cleveland Fed President Mester: A strong jobs report won't change the Fed's rate cut decision

Denver, CO

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David Heitz

A Denver City Council committee will consider Tuesday changing the term “feminine hygiene products” to the more inclusive “menstrual hygiene products” in city sales tax documents.

Denver considers name change for feminine hygiene products

The Motley Fool

The Fed is virtually certain to start cutting rates at its September meeting. Find out what it would likely mean for CD interest rates.

Here's What Could Happen to CD Rates if the Fed Cuts Interest Rates Next Month

NewsBreak

S.Korea Inflation Slows to 3-1/2-Year Low, Backs Case for Imminent Rate Cut

SEOUL (Reuters) -South Korea's consumer inflation slowed in August to the weakest in nearly 3-1/2 years, official data showed on Tuesday, supporting market expectations for an...

S.Korea Inflation Slows to 3-1/2-Year Low, Backs Case for Imminent Rate Cut

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