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Search resuls for: "Pooja Sriram"


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The provides the backdrop for stagflation, which can't be combated with rate cuts. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . With additional help from high government spending and the dollar's de-coupling from gold, inflation surged into double digits, while the economy tumbled. The period was so tumultuous that it undid long-standing macroeconomic theories, and required the Fed to step up its role in the economy.
Persons: , David Donabedian, It's, listlessness, stagflation, Paul Volcker, Jamie Dimon, we've, Pooja Sriram, Powell Organizations: Service, CIBC Private Wealth, OPEC, Economic, of New, Barclays Locations: of New York
Excluding the volatile food and energy components, the PCE price index rose 0.3%, after edging up 0.1% in August. The so-called core PCE price index rose 3.7% on a year-on-year basis in September, the smallest gain since May 2021, after increasing 3.8% in August. Stripping out housing, the core PCE price index rose by a mild 0.2%. The super core PCE price index advanced 4.3% year-on-year in September. Policymakers are watching the super core PCE price index to try and gauge their progress in combating inflation.
Persons: Bing Guan, Sal Guatieri, James Knightley, Chris Low, Pooja Sriram, Lucia Mutikani, Chizu Organizations: REUTERS, Commerce Department, Federal, BMO Capital Markets, Commerce Department's, Economic, Reuters, Consumer, ING, FHN, Treasury, Fed, Barclays, Thomson Locations: SoHo, New York City, U.S, WASHINGTON, Toronto, New York
The ongoing United Auto Workers strike could present a risk to the fight against inflation, according to Barclays. According to Sriram, this could consequently put upward pressure on auto prices, which have played an outsize role in persistent inflation pressures. "We think upside risks to core inflation are likely to materialize primarily in used car prices in the event of a sharp inventory drawdown," said Sriram. "Used car prices, which account for 3.5% of core CPI (but only 0.5% of core PCE), tend to be sensitive to new car inventories, more so in this post-pandemic period, with car inventories tight and new car prices substantially elevated." She noted that the strike will not likely affect auto prices through October.
Persons: , Pooja Sriram, Sriram, — CNBC's Michael Bloom Organizations: United Auto Workers, Barclays, — Ford, General Motors Locations: July's
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