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☆ Voters blamed Biden for high inflation. Kamala Harris could get a pass.
▼ + stars: | 2024-08-08 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Where voters place their blame — and specifically whether it falls on Vice President Kamala Harris — could be one of the defining factors of the presidential election. Early polling suggests that Harris won't be able to entirely shed the blame that President Joe Biden has received for inflation. If Harris can avoid some of the blame Biden received for rising prices, it could improve her chances of winning over crucial swing state voters, Traugott said. However, Sarah Foster, a Bankrate analyst, thinks some voters could shift much of their frustrations about rising prices from Biden to Harris. To be sure, it's up for debate how much Biden, Harris, or even Trump are deserving of blame for the rising prices of the past few years.

Persons: —, Kamala Harris —, Harris, Joe Biden, Donald Trump, Biden, she'd, Michael Traugott, Kamala Harris, Trump, Traugott, Evan Roth Smith, Blueprint's, Semafor, Elizabeth Pancotti, Sarah Foster, It's, Joseph Stiglitz, University of Michigan's Traugott Organizations: Service, Business, Trump, Democratic, University of Michigan, Republicans, Biden —, Roosevelt Institute, New York Times, Biden, FOX Business, University of Michigan's

☆ Many Americans think they’re insulated from climate change. Their finances indicate otherwise
▼ + stars: | 2024-07-16 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Joseph Lamberti/Bloomberg via Getty ImagesMany Americans think they're insulated from the effects of global warming. But climate change is already having negative and broad impacts on household finances, according to experts. "There are a bazillion pathways" to adverse financial impact, he added. However, when it comes to financial impact, "I think you could argue the correct answer for [people] is, 'It's already hurting me,'" Krosnick said. How global warming and inflation intersectClimate change also exacerbates inflation, research shows — a dynamic dubbed "climate-flation."

Persons: Joseph Lamberti, Gernot Wagner, Jon Krosnick, Krosnick, Angela Weiss, Wagner, Mario Tama Organizations: Bloomberg, Getty Images, ICF, Columbia Business School, Finance, Stanford University, Resources, Research, Afp, Getty, Columbia Business, University of Illinois, University of Oregon, New York City, Workers, European Central Bank, Potsdam Institute, Climate Locations: Philadelphia, U.S, American, Miami, Bronx, New York, Urbana, Champaign, Canada, Baker , California, California, Phoenix

☆ David Zervos: The key policy differences between Trump and Biden and what they mean for markets
▼ + stars: | 2024-06-18 | by ( David Zervos | Jefferies Chief Market Strategist | ) www.cnbc.com time to read: +6 min

By no means am I interested in tackling any impact policy differences may have upon non-market related subjects. Monetary policy So let's begin with monetary policy. Fiscal policy Now let's turn to fiscal policy. Trade policy Trade policy is easy. Regulatory policy Finally, the big kahuna, regulatory policy.

Persons: Donald Trump, Joe Biden, Clinton, Christopher Waller, Michelle Bowman —, Jerome Powell, Janet Yellen, Powell, Biden, Lisa Cook, Philip Jefferson, Bill Dudley's, Covid, Trump, Cato, Stocks Organizations: Trump, Federal Reserve, Fed, Trump Fed, Bloomberg, Democratic, Heritage, AEI, Biden Locations: China

☆ As bad as you may think the economy is now, it’s nowhere near the 1970s
▼ + stars: | 2024-05-16 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —When new gross domestic product figures last month showed US economic growth slowed from recent gangbuster levels, many people diagnosed the economy as having a really ugly sickness: stagflation. So March’s ugly inflation report, which showed an unexpected jump in the pace of price increases, and the lackluster GDP report, made the diagnosis seem like a no-brainer. Even JPMorgan Chase CEO Jamie Dimon said last month the US economy “looks more like the 1970s than we’ve seen before” and that stagflation is a growing risk. Economic slack, a term I unfortunately cannot take any credit for, broadly describes a situation where the economy isn’t performing as well as it could be. The most widely recognized symptom of economic slack is a rising unemployment rate.

Persons: Jamie Dimon, we’ve, Jerome Powell, ”, Powell, you’ve, it’s, Austan Goolsbee, Diane Swonk, wasn’t, stagflation, millennials Organizations: New, New York CNN, JPMorgan Chase, Fed, Chicago Fed, KPMG Locations: New York, stagflation

☆ Watch Fed Chair Powell speak as markets rally on his comments
▼ + stars: | 2024-05-01 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: 1 min

Last week's GDP report that showed slowing overall growth but solid price increases raised some concern about the U.S. entering a period of "stagflation," but Fed Chair Jerome Powell downplayed that idea on Wednesday. "I don't really understand where that's coming from," Powell said. The central bank chief pointed out that, by some measures, economic growth is at 3% and inflation is below 3%. "I don't see the 'stag' or the '-flation'," Powell added. — Jesse Pound

Persons: Jerome Powell, Powell, — Jesse Pound

☆ Cramer says not to second-guess Fed Chief Powell after Wednesday's remarks
▼ + stars: | 2024-05-01 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer told investors to take Federal Reserve Chief Jerome Powell at his word when he said on Wednesday that it's unlikely there's a rate hike on the horizon, even as inflation remains stubborn. Although Powell's comments calmed many on Wall Street, Cramer said it's likely investors will become anxious again ahead of employment data set to be released Friday. Even though Powell didn't suggest there will be a rate cut in the near future, Cramer stressed that he managed to take "the dreaded rate hike scenario off the table." The Fed also decided it would slow the price of bond sales, which Cramer said is a "dovish sign." He just thinks that inflation will gradually go away on its own, making him more of a dove than a hawk," Cramer said.

Persons: CNBC's Jim Cramer, Jerome Powell, Cramer, Jay Powell — He's, Powell Organizations: Federal

Social media’s antisemitism problemThe rise in antisemitism since the outbreak of war in the Middle East has ignited a clash between Wall Street donors and universities, and divided some workplaces. Now, the pressure is building on social media platforms, particularly Elon Musk’s X and TikTok, with advertisers, celebrities and influencers pulling spending and confronting executives about the proliferation of hate speech. He posted to X his support for white nationalist conspiracy theories that Jewish communities were spreading hatred. Yaccarino was brought in to win back advertisers after Musk bought Twitter last year and culled many content moderators. More than a dozen Jewish celebrities and creators, including the actors Sacha Baron Cohen, Debra Messing and Amy Schumer, confronted TikTok executives this week.

Persons: Elon Musk’s, Adolf Hitler, Musk, X’s, Linda Yaccarino, Yaccarino, “ Linda, ” Martin Sorrell, DealBook, TikTok, Sacha Baron Cohen, Debra Messing, Amy Schumer, “ Hitler, Anne Frank ”, Cohen, ”, Osama bin, bin Laden, —, Alex Haurek, George Santos, Biden, Xi Jinping, Doug McMillon, Walmart’s, “, ” Brian Cornell, ’ Organizations: IBM, Media, America, Nazi Party, Apple, Oracle, Defamation League, Twitter, S4 Capital, House, Big, General Motors, Hyundai, Republican, Justice Department, Business, APEC, West Texas Intermediate, Consumers, Depot, Walmart Locations: TikTok, New York, Hong Kong, China, San Francisco, Beijing, Washington, U.S

☆ Instant view: Cooler October US CPI raises confidence that Fed hikes done
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +8 min

Economists polled by Reuters had forecast the CPI gaining 0.1% on the month and increasing 3.3% on a year-on-year basis. The rally was due to rising investor belief that the Federal Reserve will now be less likely to hike interest rates at future meetings. LINDSAY ROSNER, HEAD OF MULTI-SECTOR FIXED INCOME INVESTING, GOLDMAN SACHS ASSET MANAGEMENT, NEW YORK“Today's Core CPI print was below expectations. "The Fed will not want to step back from its hawkish stance yet; the annual core rate at 4% is still some way away from target. THOMAS HAYES, CHAIRMAN AT HEDGE FUND GREAT HILL CAPITAL, NEW YORK"We're happy to see both headline and core CPI come in lower than expected.

Persons: Hannah Beier, ” BEN JEFFERY, GREG BASSUK, ” “, ” BRIAN JACOBSEN, MENOMONEE, we’ll, ” CHRIS ZACCARELLI, LINDSAY ROSNER, GOLDMAN, ” MATTHEW MISKIN, JOHN, “, ” STUART COLE, Kashkari, Powell, PETER ANDERSEN, ANDERSEN, it's, THOMAS HAYES, OLIVER PURSCHE, It’s, ” Organizations: Reading, REUTERS, Federal Reserve, Labor Department's Bureau of Labor Statistics, Reuters, Treasury, Markets, BMO, Reserve, CPI, ALLIANCE, Fed, Global Finance, Thomson Locations: Philadelphia , Pennsylvania, U.S, WALTHAM, MA, WISCONSIN, CHARLOTTE, GOLDMAN SACHS, JOHN HANCOCK, BOSTON, LONDON

☆ Jets tickets hit by 'Swift-flation' ahead of Sunday's game against the Chiefs
▼ + stars: | 2023-09-28 | 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 EmailJets tickets hit by 'Swift-flation' ahead of Sunday's game against the ChiefsHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Swift, Brian Sullivan, “ Organizations: Jets, Chiefs, CNBC

☆ The most insidious part of online shopping is about to get even worse
▼ + stars: | 2023-09-14 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +16 min

Companies are just baking all those fees into the total price — making the hidden fees even more hidden. On the first page, you see the ticket price. I have never seen a good justification of what I'd call mandatory hidden fees. The Canadian government is also looking to pare down hidden fees. After all, Mahoney told me, "I have never seen a good justification of what I'd call mandatory hidden fees."

Persons: I'd, Neale Mahoney, Joe Biden's, Mahoney, Marcos Villaoslada, Sara Fisher Ellison, Ellison, Harold Hill, obfuscation, you've, Vicki Morwitz, Morwitz, — they've, StubHub, Laura Dooley, StubHub's, pare, Michael Negron, —, they're, Joe Biden, Alex Wong, Maggie Rogers, she'd, Audrey Fix Schaefer, Juliana Kaplan Organizations: Stanford University, White, Economic Council, Europa Press, Getty, MIT, Columbia Business School, YouGov, Ticketmaster, National Economic Council, NPR, Federal Trade Commission, I.M.P, Independent, Association Locations: New York, upsell, Europe, Washington ,

☆ Has the War on Inflation Already Been Won? - The New York Times
▼ + stars: | 2023-08-22 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

Money is the economy’s unit of account, the yardstick we use to calculate profit and loss, make contracts, specify debts and more. It’s problematic when that yardstick keeps changing length, when you have to worry about how much stuff a dollar will buy in the future. Nonetheless, the Federal Reserve, like all major central banks these days, doesn’t aim for complete price stability, or in other words, for 0 percent inflation. Mainly because an economy with modest inflation will normally have somewhat higher interest rates than one with zero inflation — a phenomenon known as the Fisher effect. And this means that low but positive inflation gives the Fed more room to cut rates in the face of a recession.

Persons: Flation, Fisher Organizations: Federal Reserve

☆ What Covid? The Cheesy Cruise Makes a Big Comeback - The New York Times
▼ + stars: | 2023-08-01 | by ( Ezra Dyer | ) www.nytimes.com time to read: +3 min

And a recent AAA survey found that 52 percent of Americans say that compared with before the pandemic, they’re as likely or more likely to consider taking a cruise this year. Which brings us to the other thing that makes American cruises singular: More is always more. My family’s home for four days was once one of the largest passenger ships ever built, some 900 feet long and displacing more than 100,000 tons. While cruises themselves follow the same formula as always, parachuting hedonistic day-trippers into tourist-friendly ports, the post-Covid clientele has changed. Before Covid, the numbers were fairly even, but evidently the blue-state crowd is having a tougher time putting the Diamond Princess out of mind.

Persons: who’s, Taylor Swift, There’s, overstimulation, they’d Organizations: AAA, Cruises, downer, Royal, Republicans Locations: Bahamas

☆ Canada's Trudeau sets sights on fourth election fight with Cabinet refresh
▼ + stars: | 2023-07-30 | by ( Steve Scherer | ) www.reuters.com time to read: +4 min

With a string of recent polls showing the left-leaning Liberals trailing their right-of-center Conservative rivals after almost eight years in power, Trudeau changed or shifted three-quarters of his cabinet. But with the influential Finance Minister Chrystia Freeland, who is also deputy prime minister, keeping her job, some analysts are questioning the real impact of the changes. But the deal is not binding and Trudeau needs his campaign team ready to go at any time. No Canadian prime minister since Wilfrid Laurier in 1908 has won four consecutive elections. "Any advantage the Conservatives have on this may well evaporate if we see inflation and interest rates 'normalize' by the next election."

Persons: Justin Trudeau, Liberal leader's, Trudeau, Pierre Poilievre, Justin, flation, Frank Graves, it's, Chrystia Freeland, Robert Asselin, Wilfrid Laurier, Shachi Kurl, Angus Reid, Steve Scherer, David Ljunggren, Marguerita Choy Organizations: OTTAWA, Canadian, Liberal, Liberals, Conservative, Abacus, Conservatives, EKOS Research, Business Council of Canada, New Democrats, Angus Reid Institute, Thomson

The cost of certain goods is retreating in some places, but that doesn't include live music. Concert tickets have surged in price, to the point where economists are noticing. While ticket prices have increased, he said, mid-year figures haven't shown an appreciable rise since May 2022, when U.S. inflation was 8.6%. In India, fans are happy to pay a premium for quality entertainment, according to Owen Roncon, chief of business for Live Entertainment at BookMyShow. In Britain, about 150,000 music fans paid 340 pounds ($431)for a ticket to June's Glastonbury festival to see Elton John and hundreds of other acts.

Persons: Taylor Swift, Bruce Springsteen, haven't, Mario Ihieme, Paul Donovan, Harry Styles, Joel Barrios, Carolina Candelas, Andy Gensler, Pollstar, TD Cowen, Stephen Glagola, Elton John, Jason Cairnduff, Bruno Mars, Coldplay, Fairuz Zahari, Ed Sheeran, Owen Roncon, Eventbrite, Michael Rapino, Beth Cook, Dawn Chmielewski, Danielle Broadway, Sachin Ravikumar, David Milliken, Sharon Kimathi, Rozanna, Radhika Anilkumar, David Gaffen, Catherine Evans Organizations: LOS ANGELES, National Statistics, UBS Global Wealth Management, Stubhub, Ticketmaster, REUTERS, U.S . Labor Department, Backstreet, Live Entertainment, Backstreet Boys, Entertainment, Thomson Locations: Asia, U.S, GLASTONBURY, England, London, Seattle, Mexico City, Los Angeles, Europe, Barcelona, Glastonbury, Somerset, Britain, Malaysia, Australia, India, Leeds, Kuala Lumpur, Bangalore

☆ Instant View: Fed hikes another 25 basis points, hints it may be the last increase
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +7 min

TOM GARRETSON, STRATEGIST, RBC PORTFOLIO ADVISORY GROUP, MINNEAPOLIS, MINNESOTA"It was a pretty dovish rate hike today. The expectations were that it might be a bit more of a hawkish rate hike in terms of leaving the door open to further hikes if needed." "The updated language in the policy statement does suggest the bar is going to be quite high for further rate hikes. … The market is hoping or expecting the Fed to pause after this rate hike. From a consumer credit perspective, the impact of further rate hikes will likely continue to be felt by borrowers across a range of industries.

☆ You might not find as many chocolates in that last-minute Valentine's Day gift box as you did last year — blame 'slack-filling'
▼ + stars: | 2023-02-11 | by ( Aidan Pollard | ) www.businessinsider.com time to read: +3 min

Federal regulations prohibit slack filling, but some claim its happening with Valentine's Day candy, the Washington Post reported. Valentine's Day candy prices have gone up nearly 10%, according to the Post. Federal regulations prohibit companies from over-packaging goods, and even refer to the practice of slack-filling by name. Still, some consumers say the practice of slack-filling chocolates seems to continue unabated in the Valentine's Day candy aisles of grocery and convenience stores. "You used to get a box of candy and it was packed with the candy, one right next to the other."

He noted that a process of "disinflation" seemed to be taking hold so far without throwing employment off course - a hoped-for outcome if it can continue but one that might prove unsustainable if job growth doesn't slow. The full impact of the Fed's already-anticipated rate increases still has not been felt on the economy, meaning the current strength in the job market and elsewhere may in fact begin to wane, Kamin said. Though job growth has remained remarkably strong, the economy is by many estimates still perhaps a million or more positions short of what would have been reached given job growth trends before the onset of COVID-19, suggesting more room for growth. "The data overran the Fed last week, and Powell and his colleagues are falling behind the curve again. Reporting by Howard Schneider; Additional reporting by Andrea Shalal; Editing by Dan Burns and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

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