Inflation fell in November for the first time since early 2020, when the COVID-19 pandemic was slamming the U.S. economy. The decline signals that the Federal Reserve’s flurry of interest rate hikes is continuing to put pressure on inflation, which hit a 40-year high last year. The Fed’s preferred measure of inflation, personal consumption expenditures … Read more
Coloradan taxpayers can each expect an extra $800 back when they file their state income tax returns early next year, state officials said Wednesday. The refund is based on revenue collected above the cap set by the Taxpayer’s Bill of Rights, or TABOR, the state constitutional amendment passed by voters in 1992 to limit the … Read more
Curtis S. Chin, a former U.S. ambassador to the Asian Development Bank, is managing director of advisory firm RiverPeak Group. Jose B. Collazo is an analyst focusing on the Indo-Pacific region. Follow them on X at @CurtisSChin and @JoseBCollazo. As 2023 comes to a close, we take a look at the year that was in … Read more
Retail inflation for farm workers rose to 7.37 per cent and that for rural labourers climbed to 7.13 per cent in November, mainly due to higher prices of certain food items. Retail inflation in October was 7.08 per cent and 6.92 per cent for farm workers and rural labourers, respectively, according to an official statement. … Read more
A shopper carries several bags in the Magnificent Mile shopping district of Chicago on Dec. 2, 2023. Taylor Glascock | Bloomberg | Getty Images The U.S. economy has remained remarkably strong but affordability is worse than it has ever been, some social media users say, even when compared to The Great Depression. One of TikTok’s … Read more
Pedestrians walk through the festively decorated Burlington Arcade luxury shopping arcade in London, UK, on Monday, Dec. 4, 2023. Inflation in UK shops has fallen to a 17-month low as retailers fight to attract shoppers ahead of the crucial holiday period. Photographer: Jason Alden/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images LONDON — … Read more
New Jersey Gov. Phil Murphy on Tuesday predicted that President Joe Biden will get a much-needed boost in the polls as the economy continues to improve. “I believe it’s only a matter of time until he does get that credit,” Murphy said of Biden on CNBC’s “Power Lunch.” But pollsters contacted by CNBC are not … Read more
Pedestrians walk through the festively decorated Burlington Arcade luxury shopping arcade in London, UK, on Monday, Dec. 4, 2023. Inflation in UK shops has fallen to a 17-month low as retailers fight to attract shoppers ahead of the crucial holiday period. Photographer: Jason Alden/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images “Girl math” … Read more
Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on December 14, 2023, in New York City. Angela Weiss | Afp | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need … Read more
Market optimism over the potential for interest rate cuts next year is dangerously overdone, according to former FDIC Chair Sheila Bair. Bair, who ran the FDIC during the 2008 financial crisis, suggested Federal Reserve Chair Jerome Powell was irresponsibly dovish at last week’s policy meeting by creating “irrational exuberance” among investors. “The focus still needs … Read more
