Despite slumping 'hard' data, 'soft' survey data has been trending higher on a bed of soaring prices (well it must be demand), and supplier delivery delays (well it must be demand) providing any and all asset-gatherers and commission-rakers the ammo to confirm the recovery.
Further disregarding inflation will push the global economy to a major crisis, according to the latest report issued by Deutsche Bank economists who point the finger at the US money-printing policies.
Inflation took a fresh swipe at American consumers in May, with the consumer price index surging by 5 percent over the past year, the biggest annual spike in the measure since 2008.
After earlier this week US Secretary of State Antony Blinken somewhat pessimistically portrayed that it remains "unclear" whether Iran is actually willing to restore the nuclear deal, prompting angry words from Foreign Minister Javad Zarif who again pointed out that it's only Washington not in compliance due to Trump-era sanctions which the Biden White House refused to "bury" in order to make a renewed deal possible, Blinken's newest statements are pouring more cold water on all the recent speculation that prematurely hailed a Vienna agreement as imminent.
Whether you think global warming is a hoax and no technology has done more to uplift billions of people out of abject poverty than the harnessing of fossil fuels, or you think the burning of fossil fuels is irreversibly destroying the planet and urgent action to halt their use should be the top priority of humankind, or even if you think both of these things, this article is for you.
Hourly compensation soared much more than expected in the first three months of the year, even as millions of Americans remained on unemployment roles or out of the workforce, data from the Bureau of Labor Statistics showed Thursday.
President Joe Biden will unveil a federal budget totaling $6 trillion, according to documents seen by the New York Times. The splurge will further raise the US’ national debt and accelerate inflation.
US equity futures rose on Wednesday, rebounding from a modest dip the day before as more central-bank officials joined the chorus predicting that inflationary pressures are transitory, while a recent dip in bond yields supported Nasdaq futures climb for a third straight session.
