You know things are bad for President Biden when liberal columnists criticize him, and when the administration itself complains about media coverage and the polls. Presidents love polls when the numbers are good, but when they’re not, they’re either “fake,” as Donald Trump complained, or the methodology is faulty, as Biden staffers say now. When presidents — …
After decades in hibernation, inflation woke up in 2021 in a terrible rage. The consumer price index increased 7% in 2021, the fastest pace in 39 years. The inflation story is bound to be a big one in 2022, as well, as the Federal Reserve tightens monetary policy, stock markets SPX, +0.08% DJIA, -0.56% tremble …
The numbers: Initial jobless claims rose by 23,000 to 230,000 in the week ended Jan. 8, the U.S. Labor Department said Thursday. It’s the highest level since mid-November. Economists polled by The Wall Street Journal had estimated new claims would slip to 200,000. Key details: The number of people already collecting jobless benefits plunged by 194,000 …
U.S. jobless claims jump to highest level since mid-November Read More »
With consumer prices rising at the fastest pace in nearly 40 years, the Federal Reserve is signaling that it will soon begin raising interest rates. But the most important question hasn’t even been asked: Would higher rates do anything to quell inflation? It may be heresy to those who think the Fed is all-powerful, but …
Raising interest rates would do nothing to control inflation Read More »
In a somewhat sedate next-day reaction to the Federal Reserve’s December meeting minutes, bond traders took in the notion of a more aggressive Federal Reserve prepared to swiftly abandon easy policy. The rather ho-hum response could be seen in Thursday’s modest Treasury selloff, which sent yields up by only a handful of basis points or …
Treasury yields kicked off the new year with a rise on Monday, with the 10-year rate touching the highest level in more than a month, as investors turned more optimistic that the latest surge of COVID-19 cases won’t inflict much damage on the global economy. What are yields doing? The yield on the 10-year Treasury …
10-year Treasury yield pushes above 1.6%, highest level since November, to kick off 2022 Read More »
BEIJING — An official gauge of China’s manufacturing beat market expectations, as activity continued to expand at a faster clip in December amid improved market demand and falling raw material prices. The official manufacturing purchasing managers’ index rose to 50.3 in December from November’s 50.1, China’s National Bureau of Statistics said Friday. The result beat …
China manufacturing gauge rises in December, beating expectations Read More »
For help on how to navigate these troubled waters, it pays to check in with a bond manager who knows how to play the game. Consider Ken Orchard, the portfolio manager of the T. Rowe Price Global Multi-Sector Bond Fund PRSNX, -0.09%. Not only does he have a great record, which tells us he …
The Federal Reserve on Wednesday said it will phase out its bond-buying stimulus program by March — much faster than previously planned — and signaled it would raise interest rates more aggressively to combat high U.S. inflation. Opinion: All those doves at the Fed have suddenly become hawks The more assertive approach comes after upward …
Fed accelerates taper of bond purchases, eyes three interest-rate hikes in 2022 Read More »
Federal Reserve Chair Jerome Powell has finally jettisoned the use of the word “transitory” to describe the rise in inflation. But to the Fed’s critics, it’s still not enough. Mohamed El-Erian, chief economic adviser for Allianz, went on the CBS program “Face the Nation” on Sunday and stuck the proverbial dagger in. “The characterization of …
El-Erian says Fed use of ‘transitory’ to describe inflation was its worst call ever Read More »
