Browsing All Posts filed under »Inflation«

Most Americans Say They’re Worse Off Since Obama Took Office

December 9, 2010


More than 50 percent of Americans say they are worse off now than they were two years ago when President Barack Obama took office, and two-thirds believe the country is headed in the wrong direction, a Bloomberg National Poll shows. The survey, conducted Dec. 4-7, finds that 51 percent of respondents think their situation has […]

Federal Reserve’s ‘astounding’ report: We loaned banks trillions

December 1, 2010


The Federal Reserve offers details on the loans it gave to banks and others at the height of the financial crisis. One program alone doled out nearly $9 trillion. The numbers are staggering, encompassing more than a dozen emergency programs set up starting in 2007 or 2008. In one program alone the Fed doled out […]

Bernanke warns on long-term unemployment

November 30, 2010


Federal Reserve chairman Ben Bernanke on Tuesday warned current high levels of unemployment could become entrenched and have a “very long-term effect” on the US economy. Describing job creation as “probably the most important economic issue facing America today,” Bernanke cautioned on the risks of long-term unemployment during a debate in Ohio. With nearly 40 […]

Talk of $100 Oil Returns as Options Jump Most in 3 Months: Energy Markets

November 29, 2010


Oil’s return to $100 has become the biggest bet in the crude options market. The price of options to buy December 2011 futures at $100 a barrel jumped 14 percent on Nov. 24, the largest one-day gain in three months, according to data compiled by Bloomberg. So-called open interest for the contract has risen 51 […]

China and Russia scrap US Dollar for Trade

November 24, 2010


China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday. Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to […]

Why you should be extremely scared by China’s food price inflation

November 22, 2010


If you listen to the Fed, inflation is non-existent, especially when you strip out “volatile” items like food. That’s fine and good, as long as you don’t have to eat… But, of course, everybody has to eat; that’s why policymakers around the world were alarmed by China’s recent CPI report, which showed food prices rose […]

Efforts to Extend Bush-Era Tax Cuts Falter as Talks Are Delayed

November 17, 2010


A deal to extend soon-to-expire Bush-era tax cuts won’t be completed until December, and some Democrats in Congress said an accord may not be reached this year. Obama and congressional leaders postponed until Nov. 30 a White House meeting, previously scheduled for tomorrow, to negotiate whether to extend lower tax rates for all taxpayers or […]