US stocks surged to their highest levels of the day on Friday with the Dow up more than 600 points as investors reassessed the expected path of Federal Reserve rate hikes. How are stocks trading? S&P 500 SPX gained 85 points, or 2.3%, to 3882. Dow Jones Industrial Average DJIA gained more than 600 points,…
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There’s no escaping the ravages of inflation. Far from “peaking” as some hoped, the consumer price index accelerated in May, rising at a 12.3% annual rate, the government reported Friday. Not only are the costs of necessities becoming more unaffordable, so are the costs of escaping by taking a vacation or by curling up on…
Federal Reserve Chairman Jerome Powell will be challenged to get inflation down to 2% and keep it there. For the decade between the Global Financial Crisis and the COVID pandemic, inflation averaged less than the Fed’s target, but all the stars were aligned. That is hardly likely to happen again. Coming out of a severe…
Read More “Opinion: Inflation above 4% may become a fact of life” »
