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☆ 4 signs of re-inflation investors should watch out for, Charles Schwab says
▼ + stars: | 2024-11-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

AdvertisementInflation's downtrend may not be as straightforward as some investors think, according to Charles Schwab. Immigration reform could mean higher labor costs," the note added. Labor costs risingLabor costs have accelerated in recent months, with unit labor costs among all workers in the business sector rising to 3.4% year-over-year in the third quarter, according to Federal Reserve data. Markets are beginning to dial back expectations for further rate cuts in response to inflation concerns," Schwab strategists said. Charles Schwab, Citi Economic Surprise Index"Stronger growth suggests that the Fed may not lower short-term rates as much as anticipated just a few months ago.

Persons: Charles Schwab, Donald Trump, Trump, Schwab, It's Organizations: Trump, Bureau of Labor Statistics, Labor, Federal Reserve, Unit, Bloomberg, Treasury, Business, Citi

☆ 5 things we're watching in the stock market in the week ahead
▼ + stars: | 2024-11-17 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

October retail sales, released Friday morning, came in slightly ahead of expectations, indicating a 0.4% monthly increase, versus a 0.3% increase expected. Disney's reported strong earnings and its stock advanced more than 16% for the week as a result. In the week ahead, we will get earnings from three Club names, including the highly anticipated quarter from Nvidia, and a couple of housing market-related updates. The Street is looking for Nvidia sales of $33.1 billion in its fiscal Q3 and earnings of 75 cents per share. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Donald Trump, Friday's, Jerome Powell, Powell, That's, YTD We're, we're, Jensen, Trump, Nvidia's, Stanley Black, Decker, Jim Cramer's, Jim Cramer, Jim, Angela Weiss Organizations: Dow, Nasdaq, Federal, Fed, Disney, Depot, Nvidia, TJX Companies, Home Goods, Blackwell, Palo Alto Networks, Home Depot, Stanley, Walmart, Viking Holdings, Sonoma, WSM, Baidu, PDD Holdings, Deere & Co, Warner Music Group, Intuit, Ross Stores, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Maxx, U.S, China, Palo, VIK, Williams, New York City

☆ Russia pumping gas via Ukraine but volumes to Austria cut
▼ + stars: | 2024-11-16 | by ( ) www.cnbc.com time to read: +2 min

Last week, Gazprom accused Ukraine of withholding gas supplies destined for Moldova and threatened to reduce those flows, although Ukraine denied the accusation. Russian gas giant Gazprom continued to pump steady volumes of gas to Europe via Ukraine on Saturday, but supplies to Austrian energy company OMV were halted hours after Vienna said Russia had given notice it would cut off flows. Gazprom said it would send 42.4 million cubic metres of gas to Europe via Ukraine on Saturday, the same volume as on Friday. Flows into Slovakia from Ukraine were stable but nominations for flows to Austria from Slovakia were around 16% below averages seen this month, data from transmission system operator Eustream showed. OMV usually accounts for around 40% of Russian gas flows via Ukraine, or some 17 mcm per day.

Persons: Moscow, OMV, Chancellor Olaf Scholz, Vladimir Putin, Donald Organizations: Gazprom Locations: Ukraine, Moldova, Europe, Austrian, Vienna, Russia, Germany, Soviet, Kyiv, Slovakia, Czech Republic, Austria

U.S. consumers collectively owe an eye-popping $1.17 trillion in credit card debt — a record — according to estimates the Federal Reserve Bank of New York released this week. But while there are still major financial risks for carrying hefty balances, the researchers said the data suggests that “rising debt burdens remain manageable” for the typical consumer. Prices are still going up, but they’re not going up as fast, and incomes are once again going up at a faster rate than expenses. Earnings growth has averaged 6.2% per year since the pandemic began, compared to the cumulative debt balance rising 4% per year. “Especially for higher-risk borrowers, credit card and auto loan delinquencies are the highest in a dozen years, and that’s with unemployment at 4%.

Persons: ’, Donald Trump, they’re, Greg McBride What’s, TransUnion, That’s, ”, Greg McBride, “, McBride Organizations: ’ paychecks, Federal Reserve Bank of New York, New York Fed, Commerce Department, Bureau of Labor Statistics, Bankrate Locations: ’ paychecks . U.S

☆ Why Elon Musk's push to cut federal waste might succeed where others failed
▼ + stars: | 2024-11-15 | by ( Jack Newsham | ) www.businessinsider.com time to read: +8 min

Elon Musk and Vivek Ramaswamy are promising to tame the federal government. Substantial changes to the federal budget would most likely require action from legislators, though Trump transition officials are reportedly looking for ways to short-circuit Congress' power over spending. AdvertisementPast presidents have tried to cut the federal budget with mixed successThe federal government isn't a business. AdvertisementClinton took another stab at cutting federal spending and improving government processes with his National Performance Review, which was led and staffed by federal employees instead of the private sector. AdvertisementSocial Security and Medicare are the two single biggest areas of federal spending, and changing them could be politically unpopular.

Persons: Elon Musk, Vivek Ramaswamy, they've, Trump, Reagan, Clinton, Ronald Reagan, Bill Clinton, David Walker, J, Peter Grace, Grace, didn't, Musk, Ramaswamy, Thomas Schatz, hasn't, Lex Fridman's, Veronique de Rugy, —, de Rugy Organizations: Government, Department of Government, Trump, Congress, Government Waste, Grace, Office, Citizens, Securities and Exchange Commission, Federal Aviation Administration, SpaceX, Social, Cato Institute, Social Security, GOP

Mortgage rates were forecast to go down in 2025. Expectations of higher inflation and more government debt under Trump have helped mortgage rates rise in recent weeks. Why mortgage rates rose ahead of the election — and are still high nowMortgage rates went down a lot in September, with 30-year rates dropping near 6%, according to Freddie Mac. How Trump's policies could lead to higher mortgage ratesZhao says that right now it's "nearly impossible" to predict where mortgage rates will go in 2025. More supply would help moderate home price growth, improving affordability even if mortgage rates remain high.

Persons: Donald Trump's, Trump's, —, Freddie Mac, they're, Chen Zhao, Melissa Cohn, Trump, Zhao, Kamala Harris, Cohn Organizations: Trump, Service, Bond, William, Mortgage, Analytics

☆ Treasury yields tick higher as investors digest Powell’s comments, await further data
▼ + stars: | 2024-11-15 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +1 min

ET, the 10-year Treasury yield rose by more than two basis points to 4.4453%. The yield on the 2-year Treasury rose by more than three basis points to 4.3307%. U.S. Treasury yields rose on Friday as investors digested Federal Reserve Chair Jerome Powell's latest comments, and awaited further economic data. The remarks come after the Fed cut interest rates by a quarter point last week. Investors will turn their attention to further economic data due to be published on Friday, including retail sales, industrial production, and import prices.

Persons: Jerome Powell's, Powell, Powell's Organizations: Treasury, U.S, Investors, Fed

Learn moreThe Billie Jean King Cup is underway after several exciting matches at the WTA Finals earlier this month. We've put together everything you need to know about where to watch the Billie Jean King Cup, including global watch options. Where to watch the Billie Jean King Cup in the USThe Billie Jean King Cup airs on the Tennis Channel in the US, which is available to live stream through a month-to-month live TV streaming package like Sling TV, Fubo, or DirecTV Stream. Check price at FuboWhere to watch the Billie Jean King Cup in the UKThe Billie Jean King Cup airs on the Tennis Channel in the UK, which is streamable through the Tennis Channel website. Where to watch the Billie Jean King Cup in AustraliaBillie Jean King Cup coverage will be available through beIN in Australia.

Persons: Billie Jean King, We've, Davis, Australia Billie Jean King, It's, ExpressVPN Organizations: Business, WTA, Billie Jean King Cup, Federation, Canada, Tennis Channel, DirecTV, Entertainment, Elite, Sports, Fubo, BBC Locations: Malaga, Spain, Australia, beIN

☆ Fed’s Powell: Rate cuts are still underway
▼ + stars: | 2024-11-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Powell said more rate cuts are likely underway because the economy’s current trends and dynamics are expected to remain in place, at least in the short run. “We are moving policy over time to a more neutral setting,” Powell said in prepared remarks for an event in Dallas. It’s also too soon for Fed officials to conclude that October data is indicative of any new trend. While additional hot inflation reports could be factored in to the Fed’s decisions, officials are also looking at the US labor market closely. There’s also been tension between Trump and Powell, whom the president-elect first nominated in 2017 to steer the central bank.

Persons: Jerome Powell, Powell, ” Powell, Donald Trump, Trump’s, It’s, Price, “, —, There’s Organizations: Washington CNN — Federal, Republican, Fed Locations: Dallas, stoke, Trump

☆ Wholesale inflation heated up again last month, reversing recent progress
▼ + stars: | 2024-11-14 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

CNN —US wholesale inflation picked up more than expected in October, indicating that some price pressures persist at the producer level. Still, one potential favorable sign for inflation-weary consumers: Wholesale food prices dropped 0.2% for the month. FactSet consensus forecasts called for a 0.2% monthly gain and for the annual rate to heat up to 2.3%. Economists projected a 0.2% monthly gain and a 3% annual rate. Thursday’s PPI trajectory mirrored that seen in the latest Consumer Price Index data released Wednesday.

Persons: Price, Eugenio Aleman, Raymond James ’, Thomas Simons, Jefferies, ” Simons, ” Oren Klachkin, Donald Trump’s, ”, Christopher Rupkey, Rupkey Organizations: CNN, of Labor Statistics, PPI, Federal Reserve, “, CPI, Nationwide

☆ Wholesale prices rose 0.2% in October, in line with expectations
▼ + stars: | 2024-11-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Wholesale prices nudged higher in October, though largely in line with expectations and mostly consistent with the Federal Reserve cutting interest rates again in December, the Bureau of Labor Statistics reported Thursday. On a 12-month basis, headline wholesale inflation was at 2.4%. Excluding food and energy, core PPI rose 0.3%, also one-tenth more than September and also matching expectations. Services rose 0.3% on the month, accounting for most of the PPI increase, and was driven largely by a 3.6% surge in portfolio management prices. Goods prices nudged higher by 0.1% after falling the previous two months.

Persons: Dow Organizations: Federal Reserve, of Labor Statistics, PPI, Traders, Labor Department

☆ Here are our top 5 performing stocks since October's Monthly Meeting
▼ + stars: | 2024-11-14 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Overall, the S & P 500 jumped 2.4% since the last monthly meeting, while the Nasdaq and Dow climbed 4.5%, and 2%, respectively. Wells Fargo up 13.9% Ever since the Fed kicked off its monetary easing cycle with a jumbo 50-basis-point rate cut in mid-September, financial names have soared. Wells Fargo, which did take a hit one week ago, posted a record-high close Wednesday. Research analysts at Bank of America, for example, raised their price target on Wells Fargo Monday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: It's, Donald Trump, Dow, Wells Fargo, Morgan Stanley —, Morgan Stanley, Bank of America —, Wells, Trump, dinged, Morgan, Jim Cramer's, Jim Cramer, Jim, Stephani Spindel Organizations: Nasdaq, Big Tech, Club, Microsoft, Trump, Depot, Dow, Wall Street, Jefferies, Bank of America, Meta, Fed, Wall, Research, Wells, Palo Alto Networks, Jim Cramer's Charitable, CNBC, New York Stock Exchange Locations: Wells, BlackRock, CrowdStrike, Wells Fargo, Amazon, American, Manhattan, New York City, U.S

☆ Disney stock surges on streaming growth, guidance
▼ + stars: | 2024-11-14 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +6 min

Disney | PixarDisney reported its fiscal fourth-quarter earnings Thursday, narrowly beating analyst estimates as streaming growth helped propel its entertainment segment. During Disney's fiscal 2025, the company expects high-single-digit adjusted earnings growth compared with the prior fiscal year. Disney anticipates double-digit percentage growth in operating income for its entertainment segment for fiscal 2025. Streaming stridesThe atmosphere at the Disney Bundle Celebrating National Streaming Day at The Row in Los Angeles on May 19, 2022. During the fiscal fourth quarter Disney's streaming entertainment ad revenue was up 14% due to Disney+, and executives expect it to be a driver of streaming revenue going forward.

Persons: —, Bob Iger, who's, they're, Hugh Johnston, Disney, Presley Ann, Walt Disney Organizations: Disney, Pixar Disney, Revenue, Warner Bros, Getty, Hulu, ESPN, Discovery, Netflix, Comcast, Paramount Global, " Media, U.S, Walt Locations: Los Angeles, India

☆ JPMorgan loves Netflix, predicts Tyson-Paul fight could be most-watched boxing match ever
▼ + stars: | 2024-11-14 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Friday could be a big day for Netflix , according to JPMorgan. The company is set to stream a boxing match between influencer Jake Paul and legend Mike Tyson from the AT & T Stadium in Texas. JPMorgan thinks the fight could be a record breaker and bolster Netflix's ad-tier subscriptions. Enthusiasm around the stock has jumped since Netflix boasted a top- and bottom-line beat for the third quarter last month. LSEG data shows that, of the 48 analysts covering it, 33 rate Netflix a buy or a strong buy.

Persons: influencer Jake Paul, Mike Tyson, Jake Paul, Doug Anmuth, Paul, Tyson, Anmuth Organizations: Netflix, JPMorgan, T, National Football League Locations: Texas

☆ Here's why investors are so excited about Disney's quarterly results
▼ + stars: | 2024-11-14 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Revenue in the fiscal fourth quarter totaled $22.57 billion, topping the $22.45 billion expected by analysts, according to estimates compiled by LSEG. And the good run should continue, with management forecasting earnings growth acceleration over the next couple of years. Roughly $15 billion in cash flow from operations vs. $14.8 billion expected, and about $8 billion in capital expenditures vs. $6.54 billion expected. That implies free cash flow of about $7 billion vs. $8.1 billion expected. In entertainment, the team forecasts double digit percentage growth in operating income, with 10% operating margin in its streaming businesses.

Persons: Robert Iger's, Iger, hasn't, Jim Cramer's, Jim Cramer, Jim, Mickey Mouse, Mouse, Gary Hershorn Organizations: Disney, Revenue, LSEG, Management, ESPN DTC, ESPN, DIS, Comcast, Netflix, Warner Bros Discovery, Paramount Global, Sports, CNBC, Magic, Walt Disney World, Corbis, Getty Locations: Florida, India, Orlando , Florida

☆ CNBC Sport: NBC still doesn't have a deal for John Tesh's 'Roundball Rock' theme
▼ + stars: | 2024-11-14 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +15 min

NBC Sports still expects to come to a deal with Tesh, according to a person familiar with the matter. How to value a theme song like "Roundball Rock" is nebulous at best. Any sports fan of the 1990s can tell you that John Tesh's "Roundball Rock" is synonymous with "The NBA on NBC." NBC Sports still expects to come to a deal with Tesh, according to a person familiar with the matter. How to value a theme song like "Roundball Rock" is nebulous at best.

Persons: Alex Sherman, John Tesh, I'm, Tesh, NBC Sports isn't, hasn't, Marv Albert, Bob Costas, NBA hasn't, there's, he's, Mark Wilf, Donald Trump, Wilf, Adam Silver, Silver, NBCU's Peacock, David Zaslav, John Malone, Greg Maffei, Malone, Diamond, That's, Mike Tyson, Jake Paul, it's, CNBC's Lillian Rizzo, Mike Ozanian, –, Juan Soto, Ohtani, Paul Archuleta, John Tesh's Organizations: CNBC, NBA, NBC, NBC Sports, Disney, Amazon, Warner Bros, Fox Sports, Big East, Chicago Bulls, Tesh, Minnesota Vikings, Major League Soccer's Orlando City, Orlando Pride, Vikings, Orlando, Paley Center for Media, Summit, ESPN, TNT, CNBC Sport, Liberty Media, Liberty, Atlanta Braves, Diamond Sports, Major League Baseball, NHL, Fitness, Holdings, Netflix, NFL, Philadelphia Phillies, NBC Sports Philadelphia, Industry, Hallmark, Universal Studios Hollywood, Getty Locations: Nashville, Orlando City, Trump, Texas, London, Universal City , California

☆ Tua Tagovailoa says he has no regrets about his tackle attempt after throwing an interception against LA Rams
▼ + stars: | 2024-11-14 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +3 min

CNN —Miami Dolphins quarterback Tua Tagovailoa said that he does not regret his tackle attempt in his team’s 23-15 victory over the Los Angeles Rams on Monday, despite his history of head injuries. During the second quarter of the Monday Night Football matchup, Tagovailoa threw a pass intended for wide receiver Jaylen Waddle that was intercepted by Rams linebacker Christian Rozeboom. I’ll make the tackle, that’s what I’ve got to do. Tagovailoa suffered his most recent concussion against the Bills when he dove for a first down and took a hit from Buffalo safety Damar Hamlin. Tagovailoa recorded 207 yards through the air in Monday’s victory and threw a touchdown pass to receiver Tyreek Hill.

Persons: Tua Tagovailoa, Tagovailoa, Jaylen Waddle, Christian Rozeboom, Rozeboom, headfirst, “, ”, ‘, ’ “, you’ve, I’ve, Damar Hamlin, ” Tagovailoa, “ Tua, Mike McDaniel, Tyreek Organizations: CNN — Miami Dolphins, Los Angeles Rams, Rams, Dolphins, Buffalo Bills, Bills, Buffalo, Miami, Arizona Cardinals

☆ Disney doesn't plan to change its TV networks portfolio anytime soon
▼ + stars: | 2024-11-14 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

Disney has done the math on separating its TV networks business, and it appears too messy to be done — at least for now. The company's chief financial officer, Hugh Johnston, said Thursday on CNBC's "Squawk Box" that the "cost is probably more than the benefit" when it comes to separating its TV networks business, given the "operational complexity." The future of the traditional TV network business has been top of mind in the media industry. In late October, Comcast executives said they were exploring a separation of the cable networks business. Disney reported Thursday that revenue for its traditional TV networks was down 6% for its most recent quarter to $2.46 billion, while profit in the division sank 38% to $498 million.

Persons: Hugh Johnston Organizations: Disney, Comcast

☆ Watch Fed Chair Powell speak live to business leaders in the Dallas area
▼ + stars: | 2024-11-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell speaks Thursday to business leaders in the Dallas-Fort Worth area on monetary policy. That followed a half-point cut in September and left the federal funds rate in a range between 4.5% and 4.75%. Economic readings this week, however, showed that inflation has proven sticky, with consumer price inflation at 2.6% and prices at the wholesale level at 2.4%. Markets expect the Fed to cut again in December then likely skip the January meeting as officials assess the effect of the policy-easing moves so far.

Persons: Jerome Powell, Powell, Trump Organizations: CNBC, YouTube Locations: Dallas, Fort Worth

☆ Philippe Laffont’s Coatue makes big bets on China and GLP-1 drugmakers in latest quarter
▼ + stars: | 2024-11-14 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

He also increased his stake in JD.com by 8.2 million shares, or 33,490%, and PDD Holdings by roughly 2.28 million shares, or 741%. Laffont also created new positions in iShares China Large-Cap ETF and KraneShares CSI China Internet ETF . Laffont also made a couple of significant increases to the fund's holdings in Eli Lilly and Novo Nordisk . Facebook parent Meta still remains the fund's largest holding, while Amazon, Microsoft and Nvidia remain in the fund's top 10. The filing also showed increased bets on Eaton Corporation, a name closely tied to the artificial intelligence-related energy infrastructure boom, as well as Constellation Energy and NextEra Energy .

Persons: Philippe Laffont's Coatue, Julian Robertson, Laffont, Donald Trump's, Xi Jinping, Eli Lilly Organizations: Philippe Laffont's Coatue Management, U.S . Securities, Exchange Commission, Tiger Management, PDD Holdings, KraneShares CSI China Internet, Novo Nordisk, Novo Nordisk's ADRs, Broadcom, Microsoft, Nvidia, chipmakers Qualcomm, Devices, Taiwan Semiconductor, Facebook, Amazon, Eaton Corporation, Constellation Energy, NextEra Energy Locations: Alibaba, JD.com, iShares China, China, Novo, chipmakers

Inflation is drifting down in fits and starts, and so are restaurant menu prices. Diners are more likely to notice stabilizing menu prices at quick-service restaurants than at sit-down ones. But the rate at which all eateries changed their menu prices between the second and third quarters this year plummeted by 26%, the company said. Quick-service restaurants have benefited from slower growth in labor costs, Square found. The company estimates annual inflation faced by quick-service operators at 3.6% as of September, versus 4.3% for restaurants with table service.

Persons: ”, Kelly Esten, Ara Kharazian, Donald Trump, Joe Brusuelas, Trump Organizations: National Restaurant Association, “, Lightspeed Commerce, Wine Trade Alliance, RSM

Price growth ticked higher in October as voters began casting ballots in a presidential election in which economic concerns played a big role. The consumer price index climbed to 2.6% last month since the same time last year, the Bureau of Labor Statistics reported Wednesday. Stock futures turned higher, while traders bid up the price of government bonds. All-important shelter costs rose 0.4% from September to October, accounting for over half the monthly gains, the BLS said. Over the past four years, consumer prices have cumulatively increased about 20%, with the costs of many other goods and services rising even faster.

Persons: That's, Joe Biden’s, ” Kathy Jones, Charles Schwab, ”, Donald Trump, Trump, Jerome Powell Organizations: of Labor Statistics, BLS, Charles, Charles Schwab Center, Financial Research, ” Voters, White House, Trump, Investors, Adobe, National Retail Federation, Peterson Institute for International Economics, Citi Locations: —

Whereas cases of the STI in newborns increased by 30% annually in recent years — greatly alarming public health experts — the upward trend has decelerated. San Francisco’s Public Health Department was the first to recommend doxyPEP for gay and bisexual men and trans women, in October 2022. That helped trigger a long decline in condom use among gay and bisexual men in particular. The protocol, called doxyPrEP, demonstrated generally comparable efficacy at preventing STIs compared with doxyPEP studies among gay men. Public health experts have attributed this century’s surge in STIs, at least in part, to a steady defunding of state and local public-health clinics.

Persons: STIs, gonorrhea, Chlamydia, ”, Laura Bachmann, Julie Dombrowski, Pfizer’s, doxyPEP, MISTR, Jeffrey Klausner, Trump, ” Klausner, “ Organizations: Centers for Disease Control, Blacks, NBC News, MediaNews, Getty, University of Washington, Public Health Department, CDC, PrEP, Food and Drug Administration, HIV, University of Southern Locations: Seattle, gonorrhea, Chicago, New York, Africa, Puerto Rico, ”, Munich, Canada, Japan, University of Southern California

In fact, some borrowers are still paying off debt from last year's purchases. To that point, 28% of shoppers who used credit cards have not paid off the presents they bought for their loved ones last year, according to a holiday spending report by NerdWallet. However, this is a slight improvement from 2023, when 31% of credit card users had still not paid off their balances from the year before. Although overall credit card balances were 6.9% higher at the end of the third quarter compared to a year earlier, that's a significant improvement from the 15% year-over-year jump from Q3 2022 to Q3 2023, TransUnion found. Recent wage gains have also played a role, according to Paul Siegfried, TransUnion's senior vice president and credit card business leader.

Persons: TransUnion, Michele Raneri, Paul Siegfried, TransUnion's Organizations: Finance, TransUnion

☆ Larry Summers sounds the alarm bell on inflation — before Trump even takes office
▼ + stars: | 2024-11-12 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

Now, with many celebrating the apparent defeat of inflation, Summers is delivering another warning to Washington. Summers, the famed economist and former Treasury secretary, cautioned Tuesday that the inflation genie may not be back in the bottle. “My own judgement is that the Fed and markets are still underestimating the overheating risk,” Summers said during a conversation hosted by the New York Economic Club. “I am fearful that the Fed is going to be more like once burned, twice burned, rather than once burned, twice shy, on inflationary risks,” Summers said. “There is a very substantial risk that the president will attempt to implement what he talked about.

Persons: Larry Summers, Donald Trump, Summers, Trump, “, ” Summers, Clinton, Biden, Jerome Powell, Powell, ” Powell, Donald Trump’s, ” Trump, ” Organizations: New, New York CNN, White, Federal Reserve, New York Economic, Reserve, Harvard, Bureau of Labor Statistics Locations: New York, Washington

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