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☆ Here's the deflation breakdown for April 2024 — in one chart
▼ + stars: | 2024-05-16 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Consumers have largely seen prices deflate for physical goods, such as cars, furniture and appliances, economists said. They've also declined for some groceries and other things, such as travel, according to the consumer price index. Physical goods prices have deflated in all but one month since May 2023, for example. watch nowThe U.S. dollar's strength relative to other global currencies has also helped rein in prices for goods, economists said. Downward pressure on goods prices has waned a bit in recent months as supply-and-demand dynamics have normalized, economists said.

Persons: Oscar Wong, They've, they've, Michael Pugliese, Stephen Brown, Mark Zandi, Zandi, Hayley Berg, Hopper, There's, Brown Organizations: Consumers, Wells, Wells Fargo Economics, North, Capital Economics, Finance, GameStop, AMC, U.S, Federal Reserve, Canadian, Moody's, Airlines Locations: Wells Fargo, North America, U.S

☆ Fed could cut twice this year if inflation keeps grinding lower, says Wells Fargo's Michael Pugliese
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed could cut twice this year if inflation keeps grinding lower, says Wells Fargo's Michael PuglieseMichael Pugliese, Wells Fargo Corporate & Investment Banking executive director & senior economist, joins 'Fast Money' to talk today's inflation read and what it signals for the Fed and economy moving forward.

Persons: Wells Fargo's Michael Pugliese Michael Pugliese Organizations: Wells Fargo Corporate, Investment Banking, Fed Locations: Wells Fargo

☆ Here's the inflation breakdown for April 2024 — in one chart
▼ + stars: | 2024-05-15 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

That increase is largely due to dynamics in the market for crude oil, which is refined into gasoline, economists said. Annual housing inflation declined to 5.5% in April from 5.7% in March. Shelter and gasoline inflation combined contributed more than 70% of the monthly CPI increase for all items, according to the BLS. Americans' buying patterns also simultaneously shifted away from services — such as entertainment and travel — toward physical goods since they stayed at home more, driving up demand and fueling decades-high goods inflation. Wage growth has been one contributor to services inflation, for example, economists said.

Persons: Grace Cary, That's, Mark Zandi, we're, Zandi, Michael Pugliese, Trump, Stephen Brown, Pugliese Organizations: U.S . Labor Department, Moody's Analytics, Federal Reserve, of Labor Statistics, Wells, Wells Fargo Economics, U.S, U.S . Energy Information Administration, Finance, GameStop, AMC, Biden, North, Capital Economics, Supply Locations: U.S, Wells Fargo, North America

☆ Ukraine was a magnet for foreign fighters. After 2 bruising years, many are disillusioned or dead.
▼ + stars: | 2024-05-11 | by ( Cameron Manley | ) www.businessinsider.com time to read: +9 min

Zelensky's International Legion of Territorial Defense of Ukraine (ILDU) was born, echoing the International Brigades that fought fascism in the Spanish Civil War of the 1930s. According to Ukrainian officials, dozens of Ukrainians were killed and more than 100 foreign volunteers injured, ending their campaigns before they began. AP Photo/Rodrigo Abd, FileUkraine originally said 20,000 foreign volunteers had signed up to fight. That could prove "very enticing" for some foreign volunteers, Bocchese said. AdvertisementAn April 2024 increases payments for Ukrainian volunteers, adds new punishments for draft dodging, and seeks to compel Ukrainian men living abroad to come home.

Persons: —, Volodymyr Zelenskyy, Carl Larson, Marco Bocchese, Rodrigo Abd, Bocchese, Matteo Pugliese, Pugliese, Larson, Oleksandr Shahuri, Zelenskyy, Lukatsky Organizations: Ukraine's, Service, Legion of Territorial Defense of, Brigades, Royal United Services Institute, International Legion, Legion, Webster Vienna Private University, AP, Washington Post, 59th Motorized Brigade, Company, University of Barcelona, Georgian Legion, International, Army, Green Beret, Navy SEAL, State Department, National Guard, Bolivar Battalion, Associated Press Locations: Russia, Ukraine, Legion of Territorial Defense of Ukraine, Spanish, Ukraine's, London, Iraq, Kharkiv, Alabama, Russian, Lviv, Bucha, Kyiv, Austria, Montenegro, Kosovo, India, Latin America, Ukrainian, Lyman, Bolivar, Venezuela, Ecuador, Argentina, Colombia, Venezuelan

☆ The Dark Reality of Being a Princess in the British Royal Family
▼ + stars: | 2024-04-13 | by ( Samantha Grindell | Anneta Konstantinides | ) www.businessinsider.com time to read: +13 min

To millions, it appeared to be the reality for Princess Diana, Kate Middleton, and Meghan Markle. By making the fairy tale feel real, the royal family appears far more accessible — and the British tabloids are more than happy to help. David Levenson/Getty ImagesMeghan and Harry's royal tour of Australia 35 years later stirred up those same bitter feelings among the royal family, the prince recalled in "Harry & Meghan." Princess Diana. More often than not, the princesses marrying into the royal family earn the public's loyalty and love, not those born into the monarchy.

Persons: Princess Diana, Kate Middleton, Meghan Markle, Diana, Kate, Meghan —, —, Prince Charles, Tim Graham, Prince William, Chris Jackson, Harry, Karwai Tang, Kristen Meinzer, Kate —, William —, Meghan, Prince Harry, she's, Charles, William, Sir John Major, Maria Tatar, They're, it's, hasn't, Prince George, ANDREW COWIE, Omid Scobie, Pippa Middleton, Niki Nikolova, Meghan's upbringings, Pippa, Meinzer, Tatar, Duchess of Sussex, Duke of Sussex, Duke, Duchess, Sussex, Camilla, Catherine, William's, Kate wasn't, Martin Bashir, Diana Princess of Wales, Benny Ong, David Levenson, Getty, I've, Oprah Winfrey, Joe Pugliese, Harpo, Snow White, Edwin Hayward, Andrew Morton, Robert Hardman, Tim Graham Photo, Piers Morgan, Morgan, Max Mumby, they'd, It's Organizations: Getty, British, Mail, Kanye, Netflix, UNITED, Joff, BBC, Royal Tour of Australia, Tim Graham Photo Library, BBC Studios Locations: British, UNITED KINGDOM, Peacehaven , Sussex, Peacehaven, United Kingdom, Windsor, The, Australia, Alice Springs

☆ Photos show just how divided the royal family has become
▼ + stars: | 2024-03-19 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

In March 2021, Harry and Meghan dropped bombshell after bombshell in a tell-all interview with Oprah Winfrey. Prince Harry and Meghan Markle in an interview with Oprah Winfrey in March 2021. Joe Pugliese/Harpo ProductionsThe couple said that some royal family members expressed concerns about how dark Archie's skin would be before he was born, and that Meghan felt suicidal due to constant bombardment from British tabloids. Meghan also said that she was "silenced" by the royal family, unable to defend herself against numerous false reports while other family members' reputations were prioritized. "Whilst some recollections may vary, they are taken very seriously and will be addressed by the family privately," the statement said.

Persons: Harry, Meghan, Oprah Winfrey, Prince Harry, Meghan Markle, Joe Pugliese, Harpo

☆ US job openings hit a two-year low
▼ + stars: | 2023-12-05 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

That’s the lowest number job openings seen during a month since March 2021 and is further evidence of a cooling US labor market, according to the BLS’ October Job Openings and Labor Turnover Survey report. October’s tally is significantly lower than the record 12.03 million positions hit in March 2022, and the figure is approaching the roughly 7 million openings seen pre-pandemic. After two consecutive months of JOLTS surprising to the upside, the latest job openings total came in well under expectations. Economists’ forecasts called for the October postings to hit 9.3 million, according to Refinitiv consensus estimates. Employers, employees more cautiousThe Federal Reserve has been hoping to see more slack in the labor market to help in the central bank’s fight to bring down inflation.

Persons: ” Karin Kimbrough, “, ” Kimbrough, “ They’ve, Tuesday’s, Kimbrough, ”, “ They’re, Wells, Sarah House, Michael Pugliese Organizations: Minneapolis CNN —, Bureau of Labor Statistics, BLS, Labor, CNN, Federal Reserve, Employees, “ Locations: Minneapolis

☆ The market has shaken off government shutdowns in the past. Here's what Wall Street expects
▼ + stars: | 2023-09-29 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

A government shutdown looming on the horizon could dampen sentiment to start October even as Wall Street wraps up what's been a challenging month and quarter. Many market participants expect that the financial markets and economy will broadly shake off concerns from a shutdown as they have in the past. "The market's probably going to set it aside until or unless it starts to have a larger impact on behaviors." Economic impact Historically, government shutdowns have been relatively short-lived, though they have been longer and more disruptive recently. Meanwhile, Jay Woods, chief global strategist at Freedom Capital Markets, expects the government shutdown is "all bark and no bite" when it comes to market reaction.

Persons: Wells Fargo, Rob Haworth, Wells, Michael Pugliese, Bank's Haworth, Aditya Bhave, Jay Woods, Woods, Jeff Hirsch, Hirsch, Lamb Weston Organizations: RBC Capital Markets, Federal Reserve, U.S . Bank, Nasdaq, BEA, Bank of America U.S, Labor, Freedom Capital, Atlanta Fed's, PMI, Manufacturing, McCormick, ADP, Services PMI, Constellation Brands, Conagra, Consumer Credit Locations: Wells Fargo

☆ The Middle East is 'fundamental' for China's ambitions as a provider of commodities, says analyst
▼ + stars: | 2023-09-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Middle East is 'fundamental' for China's ambitions as a provider of commodities, says analystGiulio Pugliese, a lecturer in international politics at the University of Oxford, discusses the role that the Middle East will play in China's Belt and Road Initiative.

Persons: Giulio Pugliese Organizations: University of Oxford, Initiative Locations: China's

☆ Italy's possible withdrawal from China's Belt and Road program could pave the way for future exits
▼ + stars: | 2023-09-14 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Workers produce large building materials and equipment for export to countries along the Belt and Road. Hai 'an city, Jiangsu Province, China, June 15, 2020. Italy's reported withdrawal plan may set a precedence for a constructive exit from China's global trade and infrastructure initiative, setting the stage for future exits. Italy remains the only Group of 7 industrialized countries that is a signatory of Beijing's signature Belt and Road Initiative, a centerpiece of President Xi Jinping's foreign policy program that was launched a decade ago. At a time of shifting geopolitical alignments that's fragmenting the world's economy, Rome is coming under pressure to recast its relationship with Beijing to placate its western allies as Italy assumes the rotating presidency of the Group of 7 developed economies in 2024.

Persons: Italy's, Xi, Giulio Pugliese, CNBC's Organizations: Initiative, Oxford University's School of Global, Area Studies Locations: Jiangsu Province, China, Italy, Rome, Beijing, Washington

☆ Foreigners, some trained by the US, are fighting on both sides in Ukraine, seeking cash and adventure
▼ + stars: | 2023-07-21 | by ( Michael Peck | ) www.businessinsider.com time to read: +5 min

The war in Ukraine has drawn foreign fighters to the armies on both sides. While Russia is recruiting mercenaries, Ukraine has become a magnet for volunteers who want to fight Russian aggression or find adventure. By mid-2022, after Ukraine formed its International Legion of Defense, 20,000 volunteers from 52 nations had joined, according to the Ukrainian government. A new study by Italian researcher Matteo Pugliese found a bewildering array of backgrounds and motivations among the members of Ukraine's International Legion, a battalion-sized force. Ukraine's International Legion of Defense has drawn volunteers from all over the world.

Persons: —, Nepalis, Vladimir Putin, Rahmatullah Alizadah, Matteo Pugliese, Pugliese, Abraham Lincoln, Michael Peck Organizations: Service, Gurkha, Russian, Nepal Express, Nepalese Army, Getty, Moscow —, Legion of Defense, Spanish Civil War's, Brigades, Nazi, Ukraine's International, NATO, ISIS, Ukraine's, Legion, Defense, Ukraine, Facebook, Kyiv, Foreign Policy, Twitter, LinkedIn Locations: Ukraine, Wall, Silicon, Russian, Nepal, Dubai, Russia, Britain, Europe, Kabul, Xinhua, Afghanistan, Spanish, Canada, Syria, Australia, Poland, North America, Latin America, American, Syrian, Forbes

☆ US consumer price increases slow; underlying inflation sticky
▼ + stars: | 2023-06-13 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

But food prices rose 0.2% after being unchanged for two consecutive months as fruits and vegetables, nonalcoholic beverages and other food products became more expensive. While the unemployment rate rose to a seven-month high of 3.7%, that was from a 53-year low of 3.4% in April. The so-called core CPI increased 0.4% in May, rising by the same margin for the third straight month. Beyond May, however, overall core inflation is expected to slow, driven by a moderation in rents and resumption in price declines for used cars and trucks. "We expect a more noticeable deceleration in core prices in the coming months," said Michael Pugliese, a senior economist with Wells Fargo in New York.

Persons: Kathy Bostjancic, Joe Biden, I've, Biden, nonfarm, Michael Pugliese, Wells, Lucia Mutikani, Chizu Nomiyama, Paul Simao, Andrea Ricci Organizations: Federal Reserve, Labor Department, Fed, Nationwide, Reuters, Treasury, Reuters Graphics, Thomson Locations: WASHINGTON, New York, U.S, Ukraine

☆ How tornadoes, crypto and mudslides pushed up the debt default deadline
▼ + stars: | 2023-05-19 | by ( Samantha Delouya | ) edition.cnn.com time to read: +3 min

While the Treasury Department hasn’t explicitly given a reason for its tax revenue deficiency, experts have said two main factors may have caused a shortfall. Pugliese said that last year, capital gains taxes paid to the government were “unusually strong” due to a market boom. That led to really strong capital gains tax revenue increases,” he said. Tornadoes, winter storms and mudslides pushed deadlines for millions of taxpayersAnother factor that may have lowered the federal government’s tax income this year: unexpected natural disasters. California’s payments might have had an outsized effect on the federal government’s tax revenue shortage, said Mark Zandi, chief economist at Moody’s Analytics.

☆ Social Security, Medicare, federal salaries: What payments may be delayed in debt ceiling standoff
▼ + stars: | 2023-05-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Among the ramifications of a debt ceiling standoff, any payment issued by the federal government — like Social Security, Medicare, tax refunds, military paychecks and ample others — may be delayed. Alex Wong | Getty Images News | Getty ImagesThe U.S. is in this situation due to a political standoff tied to the debt ceiling, also known as the debt limit. Congress periodically raises or temporarily suspends the debt ceiling to avoid the other scenario: a default on the national debt and other federal payments. Here's the current problem: The country hit the debt ceiling — currently $31.4 trillion — in January. Federal Reserve officials alluded to the likelihood of prioritizing bondholders in a 2011 meeting that followed an earlier debt ceiling episode.

☆ What the April jobs report means for you, your employer, and the Fed
▼ + stars: | 2023-05-05 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Minneapolis CNN —High prices, rising interest rates and banking uncertainty be damned: The US labor market is still chugging right along. “The American labor market right now is simply unstoppable,” RSM economist Joseph Brusuelas wrote in a note Friday. “This is what a soft landing would look like, with job growth gradually slowing to a more sustainable pace,” Faucher added. The milestone comes just three years after the Covid-19 pandemic caused mass layoffs that pushed the Black unemployment rate as high as 16.8%. “Make no mistake, the Black [unemployment] rate is still too high,” Shierholz tweeted.

☆ I think the Fed's a little more likely to pause, says Wells Fargo's Michael Pugliese
▼ + stars: | 2023-03-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI think the Fed's a little more likely to pause, says Wells Fargo's Michael PuglieseMichael Pugliese, sr. economist at Wells Fargo, joins CNBC’s Jon Fortt and the ‘CNBC Special: Taking stock’ to discuss the Fed’s efforts to tame inflation and what they’re likely to do this week.

☆ Takeaways from the February jobs report
▼ + stars: | 2023-03-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

Minneapolis CNN —February’s jobs report had a little something for everyone. In February, the construction industry added 24,000 jobs, marking 12 consecutive months of employment growth. Friday’s report showed that “a modicum of slack crept back into the jobs market,” wrote Wells Fargo economists Sarah House and Michael Pugliese. However, Friday’s jobs report likely won’t spur a more dovish turn from the Fed, said Sean Snaith, an economist and director of the University of Central Florida’s Institute for Economic Forecasting. “We didn’t go from a four-alarm fire to a five-alarm fire with this data report, but the inflation flames aren’t out either,” he wrote in a note Friday.

☆ Here’s what will happen to the economy as the debt ceiling drama deepens
▼ + stars: | 2023-01-22 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Minneapolis CNN —After the United States hit its debt ceiling on Thursday, the Treasury Department is now undertaking “extraordinary measures” to keep paying the government’s bills. And Americans — many people — would lose their jobs and certainly their borrowing costs would rise.”Dire warnings of debt ceiling trouble aren’t new. “2011 was the first time in a long time that we came close to a debt ceiling breach,” he said. “I think you would be hard pressed to say [the debt ceiling debacle] was a positive thing,” he said. Considering the potential consequences in the United States and abroad, Sheiner believes the debt ceiling will be lifted or suspended — eventually.

☆ The debt ceiling dilemma poses risk to investors down the road, says Wells Fargo's Mike Pugliese
▼ + stars: | 2023-01-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe debt ceiling dilemma poses risk to investors down the road, says Wells Fargo's Mike PuglieseMike Pugliese, Wells Fargo economist, joins 'Power Lunch' to discuss the impending debt ceiling limit, the inner workings of the debt ceiling dynamics and conflicts in Congress.

☆ Harry and Meghan renew clash with British royals, media in Netflix doc
▼ + stars: | 2022-12-08 | by ( Henry Austin | Henry Austin Is A London-Based Editor For Nbc News Digital. | ) www.nbcnews.com time to read: +9 min

Prince Harry with Meghan Markle appeared in public together for the first time at the Invictus Games in Toronto. Aside from showing the story of their courtship, the six episodes of “Harry & Meghan” also look set to highlight long-running grievances that have roiled Britain's royal family for years. The British tabloids have intensely scrutinized Meghan, the Duchess of Sussex, publishing stories about her estranged family following her engagement and marriage to Harry in May 2018. In addition, Harry is challenging in court a decision by the British government to deny him police protection while in Britain. “In the Netflix trailer it’s implied the photographers, including me, were trying to get a shot of the royal couple — but that’s nonsense,” he told the tabloid.

☆ Positioning your portfolio following the midterm election
▼ + stars: | 2022-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPositioning your portfolio following the midterm electionCiti's Scott Chronert and Wells Fargo's Michael Pugliese join 'Closing Bell' to discuss potential outcomes for the midterm election and how they're positioning portfolios ahead of time.

☆ The number of US job openings fell by more than 1 million in August
▼ + stars: | 2022-10-04 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

The number of job openings dropped to just under 10.1 million, down from 11.2 million in July, according to data released Tuesday by the Bureau of Labor Statistics. Jay Powell is fist pumping at that job openings number. — Nick Bunker (@nick_bunker) October 4, 2022Economists were expecting job openings to fall to just 10.8 million, according to estimates on Refinitiv. Practically every industry saw a decline in job openings, indicating a broader slowdown, he said. “The key concern for the medium-term US inflation outlook is the extreme imbalance in the labor market,” he wrote.

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