White House says it expects inflation to be ‘extraordinarily elevated’ in new report

Read Time:6 Second

The Biden administration is bracing for the Labor Department’s consumer price index report to show that inflation is “extraordinarily elevated.”

About Post Author

Happy

0 %

Sad

0 %

Excited

0 %

Sleepy

0 %

Angry

0 %

Surprise

0 %

The personal consumption expenditures price index was expected to increase 0.1% in August and 2.3% from a year ago.

It was the first major Western central bank to reduce interest rates back in March.

The Conference Board's consumer confidence index slid to 98.7, down from 105.6 in August, the biggest one-month decline since August...

U.K. Finance Minister Rachel Reeves vowed on Monday that Britain will not return to austerity, saying her budget proposals will...

Asset prices soared as investors took Powell at his word that the outsized rate cut wasn't in response to a...

The decision to hold comes after the U.S. Federal Reserve kicked off its own monetary easing with an aggressive 50...