Economy

Fed’s Bullard says retailers who do not understand that consumers are stretched thin by inflation are going to get ‘punched in the face’

Retailers who endlessly raise their prices and do not understand that consumers are stretched thin because of inflation are going to lose market share, said St. Louis Fed President James Bullard on Friday. “A lot of CEOs have come on TV and said ‘oh I have lots of pricing power and I can do whatever …

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As inflation soars, one-third of Americans are experiencing financial stress: Survey

Virtuoso managing director Misty Belles shares top tips for booking travel to avoid inflation. The hottest inflation in nearly four decades is inflicting financial pain on millions of Americans as prices for everyday necessities like food and gasoline soar higher, according to a new Census Bureau survey. More than one-third of households reported difficulties in …

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Big Tech Is Getting Clobbered on Wall Street. It’s a Good Time for Them.

John Chambers, who steered Cisco Systems through multiple downturns as its former chief executive, said the companies’ strong businesses and deep pockets could afford them the chance to take risks that would be impractical for smaller competitors. During the 2008 downturn, he said Cisco allowed distressed automakers to pay for technology services with credit at …

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Manufacturers weigh in as Congress negotiates China competition bill

Late. Bill Hagerty, R-Tenn., Discusses President Biden’s ‘misguided policy’ regarding the removal of Chinese tariffs. As Congress begins formal negotiations to compromise on the details of legislation aimed at boosting the country’s ability to compete with China, American manufacturers have provided their two cents on the matter. The National Association of Manufacturers sent a letter …

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‘Housing market is looking increasingly vulnerable with a price correction possible’: ING

“The housing market is looking increasingly vulnerable with a price correction possible,” says one economist. ING’s chief international economist James Knightley points to the rapid rise in home prices making it more challenging for prospective buyers to save for a deposit at a time when inflation is shrinking real incomes and confidence is suffering. “On …

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“Cruel summer”: Gas could hit $ 6.20 per gallon nationally by August, analyst predicts

California drivers are grappling with the most expensive gas in the nation, shelling out an average of $ 6.06 per gallon as of Thursday. That could soon be the fate of drivers in the rest of the nation, according to a JPMorgan analyst, who predicts the national average per gallon price could reach $ 6.20 …

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South Korean watchdog reportedly fines Terraform Labs $ 78M for tax evasion

Terraform Labs and co-founder Do Kwon continue to attract more legal trouble in the wake of the collapse of the Terra ecosystem. After early reports of a possible congressional hearing and an investigation from Grim Reapers financial crimes unit, the crypto firm has now come under the radar of the national tax agency. According to …

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Deepak Chopra on money and fulfillment: Times of ‘adversity’ are meant for ‘opportunity’

Deepak Chopra’s demonstrates his artificial intelligence program Deepak Chopra, speaking recently to Fox News Digital during the Milken Institute Global Conference in Los Angeles, said that his latest book, “Abundance: The Inner Path to Wealth,” was inspired by a lyric allegedly written by Bob Marley. The lyric, he said, notes that “some people are so …

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