INFLATION

A weak pair of earnings reports by Twitter and Snap showcase how social media companies are struggling to adapt to a changing market.

Initial unemployment claims in the U.S. surged to an eight-month high in a sign that the labor market may be slowing down, adding to fears that a recession may be inevitable.

Goldman Sachs’ CEO David Solomon issued a stark warning that the world is at risk of seeing global inflation becoming entrenched for years to come if pressures on global economy are not eased.

Retail spending rebounded and increased by 1% despite inflation soaring to a four-decade high in June, but it may reflect higher prices more than increased spending by households.

Prices for wholesale goods in the United States charged forward by 11.3% in June from the same time last year as inflation continues to surge back across the economy.

Inflation raced ahead again in June to hit 9.1% in the last year, breaking yet another record and leaving analysts' expectations of lower inflation in the dust.

Russia is a major global producer of fossil fuels, and worries about the inability to find oil to replace its production amid already tight supply have put significant upward pressure on global prices.

U.S. job openings shrank sharply in May by over 400,000 positions, but the overall hiring picture continues to show signs of strength.

Starbuck is offering customers a chance to get half-off on select cold drinks on the menu throughout July. The move is a bid to stay ahead of any consumer pullback over inflation at the height of summer.

The Twitter back and forth between Bezos and U.S. President Biden over inflation has been ongoing since May.

The Atlanta Fed warned that a recession is already here, as many still assert that the U.S. economy is strong.

Inflation held firm in May after a tepid retreat in April.

Analysis of voter registration data across over 40 states showed over 1 million new Republicans were registered to vote compared to about 630,000 Democrats.  

Consumer sentiment in the United States sunk further as more Americans’ pessimism in the face of stubborn inflation that has driven up costs for basic goods deepens.  

The payment are set to arrive to eligible households by July 1.

A recent survey by economists found that many predict a recession in the next year, a sharp contrast to the Biden administration which has played down warnings of a recession.

Stagflation is back in vogue as a term as the U.S. economy stares down the prospect of weak growth and high inflation. As the Fed moves to tighten interest rates, can it ward off stagflation without causing a recession?

The Federal Reserve raised interest rates in the largest rate hike enacted since 1994. The move comes as the U.S. faces rising inflation.

Both vehicle and gas sales significantly impacted May retail sales overall, driving the downturn for the month.

Prices for wholesale goods in the United States charged forward by 10.8% in May from the same time last year, the latest reminder that inflation is continuing to rampage across the economy. 

The consensus among Fed watchers is that the FOMC will raise its key Fed Funds rate — a critical short-term rate — by 50 basis points, with some Fed watchers predicting a 75-basis-point hike.