Inflation, recession fears spook retirement-age Americans

Inflation, recession fears spook retirement-age Americans

We’re freaking out. A bear market, plunging 401(k) plans, and rising inflation have Americans properly spooked — especially those in or nearing retirement. “When you hear the doom and gloom, you feel the doom and gloom,” Joe Saul-Sehy, a former financial adviser and co-host of “The Stacking Benjamins Podcast,” told The Post. “You go to … Read more

Biden plots inflation fight with Fed chair as nation worries

Biden plots inflation fight with Fed chair as nation worries

WASHINGTON (AP) — Focused on relentlessly rising pricesPresident Joe Biden plotted inflation-fighting strategy Tuesday with the chairman of the Federal Reserve, with the fate of the economy and his own political prospects increasingly dependent on the actions of the government’s central bank. Biden hoped to demonstrate to voters that he was tuned to their worries … Read more

Key inflation gauge slowed to still-high 6.3% over past year

Key inflation gauge slowed to still-high 6.3% over past year

An inflation gauge closely tracked by the Federal Reserve rose 6.3% in April from a year earlier, the first slowdown since November 2020 and a sign that high prices may finally be moderating, at least for now. The inflation figure the Commerce Department reported Friday was below the four-decade high of 6.6% set in March. … Read more

Stock market claws back from edge of first bear market since 2020

Stock market claws back from edge of first bear market since 2020

NEW YORK (AP) — The stock market clawed back from a midday drop Friday after coming to the edge of its first bear market since the beginning of the pandemic. The S&P 500 ended 18.6% below the record high it set in early January. A 20% decline would have been considered the beginning of a … Read more

China’s 2022 Covid lockdowns inflation risk bigger vs 2020

China's 2022 Covid lockdowns inflation risk bigger vs 2020

China’s automobile and component exports more than doubled in 2021 from a year ago, exceeding 30% growth in China’s exports overall, Bernstein analysts found. YiFan | Visual China Group | Getty Images BEIJING — China’s latest Covid lockdowns are a greater risk for global inflation today than they were in 2020, Bernstein analysts said. That’s … Read more

UK inflation hits fresh multi-decade high of 6.2%

UK inflation hits fresh multi-decade high of 6.2%

LIVERPOOL, UNITED KINGDOM – JANUARY 23: On the day that Britain officially enters a recession shoppers walk through Liverpool city center on January 23, 2009 in Liverpool, United Kingdom. Figures announced today confirm that the UK is officially in a recession for the first time since the early 1990s after GDP fell in two successive … Read more

Powell says ‘inflation is much too high’ and the Fed will take ‘necessary steps’ to address

Powell says 'inflation is much too high' and the Fed will take 'necessary steps' to address

US Federal Reserve Chairman Jerome Powell addresses an online only news conference in a frame grab from US Federal Reserve video broadcast from the Federal Reserve building in Washington, US, January 26, 2022. US Federal Reserve | via Reuters Federal Reserve Chairman Jerome Powell on Monday vowed tough action on inflation, which he said jeopardizes … Read more