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☆ Two retail experts debate the bull and bear cases for the U.S. consumer
▼ + stars: | 2024-03-14 | 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 EmailTwo retail experts debate the bull and bear cases for the U.S. consumerStacey Widlitz, President of SW Retail Advisors, and Brian Nagel, Senior Equity Research Analyst at Oppenheimer, debate conflicting trends from the retail sector.

Persons: Stacey Widlitz, Brian Nagel Organizations: Retail Advisors, Equity, Oppenheimer

Measured year over year, producer prices rose by 1.6% in February, the most since last September. Core wholesale prices rose 0.3%, down from a 0.5% jump the previous month. Photos You Should See View All 60 ImagesThe producer price index can provide an early read on where consumer inflation is headed. Compared with a year earlier, prices rose 3.2%, up from a 3.1% increase rise the previous month. Still, February's acceleration in producer prices suggested that inflation could stay elevated into the spring.

Persons: Biden, Joe Biden's, doesn't, Jerome Powell Organizations: WASHINGTON, —, Federal Reserve, The Labor Department, Fed, Capital Economics, CPI, Wall Locations: United States

☆ Asia markets set for positive open after U.S. stocks jump on inflation data
▼ + stars: | 2024-03-13 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Commercial and residential buildings are illuminated at dawn in Seoul, South Korea, on Saturday, Oct. 21, 2023. Asia-Pacific markets were mostly set to rise after Wall Street jumped overnight, following U.S. inflation data that largely met expectations. February U.S. consumer price index climbed 0.4% on the month and 3.2% year over year, the Bureau of Labor Statistics said on Tuesday. Economists polled by Dow Jones had forecast a 0.4% increase month on month and 3.1% year over year. Core inflation, which strips out food and energy from the headline reading, climbed 0.4% in February, compared to a forecast gain of 0.3%.

Persons: Dow Jones Organizations: Wall, of Labor Statistics Locations: Seoul, South Korea, Asia, Pacific

☆ Gold subdued as U.S. inflation surprise casts doubt on mid-year rate cut
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were flat on Wednesday, after falling the most in a month in the previous session, as sticky U.S. inflation raised concerns an interest rate cut by the Federal Reserve may be delayed beyond June. Gold's latest price drop comes as everything falls back to the inflation data, that feeds through into U.S. Fed's decision making, Michael Langford, chief investment officer at Scorpion Minerals Ltd said. Langford expects a healthy correction of up to about 10% in gold prices from here. Bullion fell 1.1% on Tuesday, after data showed U.S. consumer prices increased solidly in February, above forecasts and suggesting some stickiness in inflation. This was gold's worst single-day decline since Feb. 13, when data showed consumer prices also increased more than expected in January.

Persons: Michael Langford, Langford Organizations: Co, Federal, Scorpion Minerals Ltd, Traders, Treasury Locations: Bangkok, Thailand, U.S, Ukraine

☆ Dollar steadies as traders weigh hotter-than-expected inflation
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar held steady against a handful of rival currencies on Wednesday, as traders weighed what impact hotter-than-expected inflation data could have on chances of an interest rate cut at the Federal Reserve's June meeting. The U.S. dollar held steady against a handful of rival currencies on Wednesday, as traders weighed what impact hotter-than-expected inflation data could have on chances of an interest rate cut at the Federal Reserve's June meeting. The U.S. consumer price index, or CPI, increased solidly in February, beating forecasts and suggesting some stickiness in inflation. That has left analysts wondering whether the Fed will have sufficient data to justify more than a couple of rate cuts all year. The dollar index , which measures the greenback against a basket of peer currencies, was little changed at 102.91.

Persons: Powell, Matt Simpson, Kazuo Ueda's, bitcoin Organizations: U.S, Federal, Fund, U.S ., CPI, Bank of Japan, Traders, European Central Bank Locations: U.S

☆ YouTube's mass exodus of stars show the uncertainty of the creator economy
▼ + stars: | 2024-03-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at a potential exodus of stars from YouTube and what it means for the creator economy. What's on deck:This story is available exclusively to Business Insider subscribers. AdvertisementBut some people who helped fuel YouTube's rise are walking away from the platform that gave them their big break. TikTok's challenges represent the ongoing uncertainty content creators face trying to make a living in such an unpredictable and shrinking world.

Persons: —, we've, Rebecca Zisser, It's, Insider's Lindsay Dodgson, MatPat, Lindsay, Andy Kiersz, Critics, it's, Alistair Barr, Dan, Jamie Dimon doesn't, Dimon, Karim Qubadi, Abanti Chowdhury, OpenAI, Musk's, Christopher Nolan's, Tyler Le, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, YouTube, Business, Nielsen, Gaming, ISI, SensorTower, BI, CPI, JPMorgan, Elon, University of Chicago, Quest, realtors, Meta, Google, Companies, Adidas Locations: United States, New York, London

☆ Oil prices up on strong U.S. demand, Fed signals in focus
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: +1 min

Oil prices rose on Wednesday on expectations of strong global demand, including in the world's top consumer the United States, and as even somewhat sticky U.S. inflation did not dent expectations the Fed might start cutting rates soon. The Organization of the Petroleum Exporting Countries, or OPEC, stuck to its forecast of a strong oil demand growth globally of 2.25 million barrels per day (bpd) in 2024 and by 1.85 million bpd in 2025 and raised its economic growth forecast for this year. In another indication of healthy demand, U.S. crude oil inventories and fuel inventories fell last week, according to market sources citing American Petroleum Institute figures. Lower rates support oil demand. Oil prices were under pressure in the previous session after the U.S. Energy Information Administration raised domestic oil output forecast but declines were limited on expectations that OPEC+ output cuts will still slow global oil growth and on the recent wave of drone attacks on Russia, including refineries.

Persons: Brent Organizations: West Texas, of, Petroleum, American Petroleum Institute, Reserve, U.S . Energy, Administration Locations: Taft, Kern County , California, United States, Russia

☆ Gold retreats from near record-high levels ahead of U.S. inflation data
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +2 min

Gold prices slipped from near record-high levels on Tuesday, as traders braced for key U.S. inflation report that could give more clarity on when the Federal Reserve might start cutting its interest rates. Spot gold fell 0.2% to $2,178.53 per ounce, as of 0424 GMT, after rising for nine consecutive sessions. "Following the stellar run-up in gold prices, it does call for some near-term breather," IG market strategist Yeap Jun Rong said. Another surprise run of hotter-than-expected inflation data for February will likely challenge that, which could drive some near-term unwinding in gold prices." Traders are pricing in three to four quarter-point (25 bps) U.S. rate cuts, with a 70% chance for the first in June, as per LSEG's interest rate probability app.

Persons: Bullion, Yeap Jun Rong, there's, Tim Waterer Organizations: Co, Federal Reserve, Traders, U.S . Treasury, KCM Trade Locations: Bangkok, Thailand, U.S

☆ Did Starbucks' job in China just get tougher? Here's our take on new campaign tariff talk
▼ + stars: | 2024-03-11 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

During Trump's trade war, Chinese consumers turned away from some U.S. goods and services in protest. SBUX 1Y mountain Starbucks 1 year Shares of Starbucks rose 1% on Monday as investors, perhaps, shrugged off China trade war worries. Such a scenario could fuel skepticism — already a worry among investors — about Starbucks' appeal to a broad swath of Chinese consumers. "I fear they're too expensive for China," Jim Cramer recently said, referring to Starbucks. As the coffee market matures in China, Starbucks believes the industry will undergo a more defined tiered competition dynamic, which would expand opportunities as a high-end brand.

Persons: Donald Trump, Joe Biden, Kevin Johnson, we're, shrugged, Jim Cramer, Jeff Marks, Peter Saleh, wouldn't, Saleh, Trump, Biden, Jim Cramer's, Jim, Alex Tai Organizations: CNBC, Democratic, Starbucks, U.S, Club, Getty Locations: China, U.S, Washington, Beijing, Trump, India

☆ About 63,000 Infant Swings Are Recalled Over Suffocation Hazard
▼ + stars: | 2024-03-10 | by ( Johnny Diaz | ) www.nytimes.com time to read: +1 min

Jool Baby, a brand of children’s products, has recalled about 63,000 infant swings that were sold at Walmart stores and online because they posed a suffocation risk, federal safety regulators said. The U.S. Consumer Product Safety Commission said on Thursday that the Jool Baby Nova Baby Infant Swing that was marketed, intended or designed for infant sleep posed a suffocation risk because it had an incline angle greater than 10 degrees. The product was in violation of the commission’s Infant Sleep Products Regulation and the Safe Sleep for Babies Act, the agency said. A study cited in the federal regulation of infant sleep products found that infants who slept in products with a 20-degree incline were exposed to increased demand on the abdominal muscles, which could lead to fatigue and suffocation. The same study determined that an incline of 10 degrees or below does not significantly affect infant motion or muscle activity.

Organizations: Walmart, U.S . Consumer Product Safety

☆ 4 economic reports the market cares about most next week, including a fresh look at inflation
▼ + stars: | 2024-03-09 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Within the Club, we heard this week from Foot Locker on Wednesday, then from Costco and Broadcom on Thursday. The big economic data drop of the week arrived Friday with February's nonfarm payrolls report . The center of attention is Tuesday's February consumer price index report . On Thursday, the February produce price index is due out. ET: Producer Price Index 8:30 a.m.

Persons: FactSet, Locker, Foot Locker, February's nonfarm, Jerome Powell, he's, we'll, MANU, LEN, Jim Cramer's, Jim Cramer, Jim, Mostafa Bassim Organizations: Nasdaq, Dow Jones Industrial, Costco, Broadcom, Commerce, Federal, PPI, Ballard Power Systems, Fortrea Holdings, Casey's, Vail Resorts, MTN, Daniels, Midland, Kohl's Corporation, Kanzhun, Game Technology, Manchester United, Blade Air Mobility, Clover Health, Beauty Health, Energy Vault Holdings, PHX Minerals, Guild Holdings, Finance, Heron Therapeutics, ZIM Integrated Shipping Services, Arcos Dorados Holdings, ARCO, Petco, Wellness Company, Farms, Sonoma, WSM, ESS Tech, DICK'S Sporting, Inc, Futu Holdings, Bear, Autolus Therapeutics, III Apparel, Solo Brands, Weibo Corporation, Embraer, CNBC, Washington DC, Anadolu, Getty Locations: U.S, Asana, ASAN, Williams, Washington, United States

☆ That security camera and smart doorbell you’re using may have some major security flaws
▼ + stars: | 2024-03-09 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +11 min

… I’m completely done with smart devices like that.”24-year-old Heather Hines is among the Wyze users whose personal camera footage was viewed during a recent security breach. Henderson, who owns 10 Wyze cameras, said he is starting to replace them with other brands. It also raises the question about whether the value of smart devices is worth the risks. Amazon and Google have experienced security breaches with Ring and Nest security devices in recent years. People can also reconsider how many smart devices they actually need in the home.

Persons: Heather Hines, Hines, ”, “ I’m, ” Hines, I’m, Eddie Henderson, Henderson, Dave Cosby, Tuck, Paddy Harrington, That’s, Michela, Michela Menting, “, ” Harrington, It’s, you’ve, they’ll, ” Menting Organizations: CNN, Wyze, Consumer, Amazon, Walmart, Sears, Federal Communications Commission, US, Forrester Research, Attackers, Google, ABI Research, Consumer Product Safety, White, FBI Locations: Southern California, Nova Scotia, Canada, China, ” Haddington

☆ Inflation will be on investors' minds next week as worries over sky-high valuations grow
▼ + stars: | 2024-03-08 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

The February consumer price index, set for release Tuesday, and the producer price index, due out Thursday, could hurt equities if the reports come out hotter than expected. The S & P 500 closed out the week with losses, but has advanced more than 7% for the year. Some stubborn spots in inflation February's consumer inflation data next week comes after January's surprisingly hot report dented investor hopes the so-called last mile to the Fed's 2% inflation target will be easy. Export Price Index (February) 8:30 a.m. Import Price Index (February) 8:30 a.m.

Persons: Giuseppe Sette, FactSet, James Ragan, Davidson, Nordstrom, Davidson's Ragan, Kathleen Grace, Russell, Office's Grace, Grace, Price, Jeff Cox, Nick Wells Organizations: Fed, Nvidia, Meta, Oracle, Treasury Budget, Adobe, Price, Index, Manufacturing Locations: chug, Michigan

☆ Target CEO Brian Cornell on earnings beat: We've seen a very resilient U.S. consumer
▼ + stars: | 2024-03-05 | 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 EmailTarget CEO Brian Cornell on earnings beat: We've seen a very resilient U.S. consumerTarget Chairman and CEO Brian Cornell joins 'Squawk Box' to discuss the company's quarterly earnings results, which posted holiday-quarter revenue and earnings that topped Wall Street’s expectations, the state of the consumer, impact of inflation, and more.

Persons: Brian Cornell, We've

☆ Some NYCB deposits may be a flight risk after Moody’s downgrades ratings again
▼ + stars: | 2024-03-04 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

Late Friday, Moody's Investors Service cut the deposit rating of NYCB's main banking subsidiary by four notches, to Ba3 from Baa2, putting it three levels below investment grade. The downgrade could trigger contractual obligations from business clients of NYCB who require the bank to maintain an investment grade deposit rating, according to analysts who track the company. But the figures are from the day before Moody's began slashing the bank's ratings, sparking speculation about possible flight of deposits since then. For instance, while Fitch Ratings cut NYCB's credit ratings to junk last week, it kept the bank's long-term uninsured deposits at BBB-, one level above junk. To replace deposits, NYCB could raise brokered deposits, issue new debt or borrow from the Federal Reserve's facilities, but that would all probably come at a higher cost, McGratty said.

Persons: NYCB, Moody's, Keith Horowitz, Horowitz, John Pinto, Chris McGratty, NYCB didn't, McGratty Organizations: New York Community Bank, New, Community Bank, Moody's, Citigroup, Fitch, BBB, Federal, CNBC PRO Locations: New, Yonkers , New York, Baa2, Moody's

☆ For century-old Mack Trucks, the 18-wheeled, bulldog-big rig future is still going to be EV
▼ + stars: | 2024-03-03 | by ( Bob Woods | ) www.cnbc.com time to read: +6 min

Mack Trucks, founded in Brooklyn, New York, in 1900, is renowned for its 18-wheelers, diesel-powered big rigs with a trademark bulldog mounted on the hood. Purchase-making decisions are distinct for consumer and commercial markets, a difference reflected in last year's EV sales results within both sectors and outlooks for future growth. EV sales increased year over year by 40% in the fourth quarter, yet were down from 49% in the third quarter. Cox expects this year's EV sales to reach 1.5 million, about 36% higher than last year. Eighty EV truck deployments were cataloged in 2020, and those deployments jumped to 1,948 in 2022.

Persons: Mack Trucks, Mack, Jonathan Randall, Kelley, Cox, Tesla, EVs, Randall, BEV, Ann Rundle, Rundle Organizations: Mack Trucks North, Sweden's Volvo Group, Volvo Trucks, Volvo, U.S, EV, Ford, GM, EDF, American Truck Dealers Association, ACT Research, ICE Locations: Brooklyn , New York, —, New York City, Miami , Florida, Mack Trucks North America, Greensboro , North Carolina, Paris, U.S, United States

☆ Fed Chair Powell and jobs data take center stage next week as Wall Street weighs interest rate outlook
▼ + stars: | 2024-03-01 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

Next week, the first full trading week of March, macroeconomic concerns will take center stage for investors. Next week, the Fed chief is largely anticipated to stick to the same talking points in testifying before Congress. In fact, the February jobs report, due out next Friday, is expected to show a moderation in payroll gains. Hourly Earnings preliminary (February) 8:30 a.m. Average Workweek preliminary (February) 8:30 a.m. Manufacturing Payrolls (February) 8:30 a.m. Nonfarm Payrolls (February) 8:30 a.m. Private Nonfarm Payrolls (February) 8:30 a.m. Unemployment Rate (February) — CNBC's Michael Bloom, Jeff Cox and Yun Li contributed to this report.

Persons: Jerome Powell, Powell, Shannon Saccocia, Kim Forrest, Webull, Michael Hartnett, CNBC's Yun Li, Melissa Brown, Brown, Wealth's Saccocia, Saccocia, Nonfarm Payrolls, —, Michael Bloom, Jeff Cox, Yun Li Organizations: Federal, Fed, Capitol, Nasdaq, Dow Jones, FactSet, Barclays, Bokeh Capital Partners, Labor Department, Bitcoin, BofA Global Research, Apple, Nvidia, Ross Stores, Costco Wholesale, Kroger, . Semiconductor, Broadcom, PMI, PMI Services, Services PMI, Ross, Target, ADP, Labor, Consumer Credit Locations: U.S, REITs, Japan

☆ Europe is having its worst earnings season since the onset of Covid — with little hope of a quick turnaround
▼ + stars: | 2024-03-01 | by ( Silvia Amaro | ) www.cnbc.com time to read: +4 min

As of Feb. 29 with 313 companies having reported, 50.2% posted a beat, according to a CNBC analysis of FactSet data. This was the smallest percentage of beats — thus the worst earnings season — since the first quarter of 2020 when the pandemic first hit European firms. Share buyback bonanzaSharon Bell, a senior European strategist at Goldman Sachs, told CNBC that she had noticed a new trend for European corporates during this earnings season. "What you have seen is a lot of companies announcing buybacks," she told CNBC's "Squawk Box Europe" Tuesday. "It is absolutely huge, you've never really seen this before in 20, 30 years, European companies pay dividends, they don't do buybacks," she said.

Persons: —, Edward Stanford, Philippe Ferreira, Kepler Cheuvreux, Sharon Bell, Goldman Sachs, CNBC's, you've, Bell, Ferreira Organizations: CNBC, HSBC, L'Oreal, European Central Bank, Shell, Deutsche Bank, Novo Nordisk, UBS Locations: Triomphe, France, Europe, China, Ukraine, European

☆ Eurozone Inflation, at 2.6%, Continues to Ease
▼ + stars: | 2024-03-01 | by ( Patricia Cohen | More About Patricia Cohen | ) www.nytimes.com time to read: +1 min

The bank also keeps a close eye on core inflation, which strips out volatile food and energy prices. That annual figure dropped to 3.1 from 3.3 percent, but it is still significantly above the headline number. In Spain, the annual rate dropped to 2.9 percent from 3.5 percent in January. Italy and Latvia had the lowest inflation rates, below 1 percent. Bottom Line: It’s all about energy prices.

Persons: ” Carsten Brzeski Organizations: ING Locations: Central, Germany, France, Spain, Italy, Latvia, Austria, Croatia, Estonia

☆ We're raising our price target on TJX after the discount retailer's impressive earnings beat
▼ + stars: | 2024-02-28 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Higher sales and lower COGS resulted in better-than-expected gross margin expansion that trickled down to a bottom-line beat. The company's pretax profit margin also expanded versus the year-ago period, benefiting from a higher merchandise margin. The strong merchandise margin was attributable to less shrink (theft), reduced freight costs, and lower markdowns. The company's pretax profit margin also expanded versus the year-ago period, benefiting from a higher merchandise margin. The strong merchandise margin was attributable to less shrink (theft), reduced freight costs, and lower markdowns.

Persons: Ernie Herrman, —, Herrman, Jim Cramer's, Jim Cramer, Jim, Scott Mlyn Organizations: Companies, LSEG, Management, Wall, TJX, CNBC, Shoppers, TJ Maxx, CNBC TJX Companies Locations: Maxx, buybacks, Canada, New York

☆ Wendy's New Dynamic Pricing Plan Isn't As Crazy As It Sounds
▼ + stars: | 2024-02-28 | by ( Emily Stewart | ) www.businessinsider.com time to read: +7 min

Knee-jerk reaction and poor messaging aside, dynamic pricing isn't really novel and may actually make some sense. Platforms such as Ticketmaster often use dynamic pricing models for concerts and sporting events. While dynamic pricing may have a long history and other fast-food chains may be watching with interest, Wendy's may have doomed its own experiment. AdvertisementWhen people think of dynamic pricing, they think of Uber and airlines. "When people think of dynamic pricing, they think of Uber and airlines.

Persons: Wendy's, it's, Kirk Tanner, aren't, John Shearer, Sean Dunlop, Jonathan Maze, Uber, they're, Dunlop, what's, doesn't, —, Biggie, Emily Stewart Organizations: Ticketmaster, Morningstar, Business, CNN, Wendy's Locations: —

☆ Home Equity Loan Alternative Could Revolutionize the Housing Market
▼ + stars: | 2024-02-28 | by ( James Rodriguez | ) www.businessinsider.com time to read: +16 min

Like a lot of homeowners, Schummer was keen to convert some of his theoretical wealth into real cash. These kinds of deals, often referred to as home-equity-sharing agreements or home-equity investments, have existed on the fringes of housing finance for decades. The success or failure of home-equity investments could shape the future of homeownership in America. If the home's value has gone up, everyone wins; sell it for a loss, and the investor might share in that downside. "Over time for us, the customer becomes everybody," Eoin Matthews, the chief business officer and a cofounder of Point, told me recently.

Persons: Kennis Schummer, Schummer, Laurie Goodman, Goodman, he'd, Eoin Matthews, —, Hometap, Jim Riccitelli, Riccitelli, Adam Rust, Rust, Rust wasn't, I'm, Jordan Gilberti, Holly Bunting, Mayer Brown, Edwin Remsberg, Matthews, they'd, Jeffrey Glass, Glass, I've, he's Organizations: Consumer, Urban Institute, Federal Reserve, Bain Capital, Palisades Group, Redwood Trust, Getty, Consumer Federation of America Locations: Pensacola , Florida, California, homeownership, America, Connecticut, Maryland, Florida

☆ In wake of AT&T outage, consumer advocates say you should always ask for money back if there’s a blackout
▼ + stars: | 2024-02-28 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

The outage affected tens of thousands of customers in cities across the country whose phones lost signal overnight. It was the result of an internal company error — not a cyberattack — as AT&T worked to expand its network, it said. AT&T is crediting consumers and small business customers "most impacted by the outage" to "compensate them for the inconvenience they experienced," company CEO John Stankey wrote in a letter Sunday. watch now"This is not our first network outage, and it won't be our last — unfortunately, it's the reality of our business," he wrote. The credit doesn't apply to AT&T Business Enterprise and Platinum accounts, AT&T prepaid or Cricket, its low-cost service, the company said.

Persons: Eric Thayer, John Stankey, Stankey, John Breyault Organizations: Getty, T Business, Cricket, National Consumers League Locations: Redondo Beach , California

☆ A hard-landing recession is guaranteed as the full impact of Fed rate hikes have yet to hit the economy, Morgan Stanley's chief economist says
▼ + stars: | 2024-02-27 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

A hard landing is guaranteed for the US Morgan Stanley's chief US economist. That's because the full impacts of Fed tightening haven't been fully felt in the economy. It could take 18 months after the last rate hike to feel the full weight of higher rates, economists say. Zentner is expecting the US to avoid a recession this year, as there's no data to support a soon-to-come downturn. AdvertisementStill, signs point to the Fed keeping interest rates elevated as it keeps an eye on inflation.

Persons: US Morgan Stanley's, Ellen Zentner, Morgan Stanley's, Zentner, Jamie Dimon's Organizations: US, Federal Reserve, CNBC, Analytics, Bank, Investors

So the White House probably cheered a move by the F.T.C. and several states on Monday to block Kroger’s $25 billion bid to buy Albertsons, arguing that the biggest supermarket merger in U.S. history would raise prices and hit union workers’ bargaining power. The Biden administration has little influence over inflation, but it’s still getting heat. Consumers are spending the highest proportion of their income on food in 30 years, and an internal White House analysis found that grocery prices had the biggest impact on consumer sentiment. The Fed has jacked up interest rates to a 20-year-high in an effort to cool inflation, but progress on that has slowed in recent months.

Persons: Biden’s, Biden, it’s Organizations: Kroger, Albertsons Locations: U.S

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