Author: starbpo

Investors are paying more attention to inflation, even though Wednesday’s reading from the consumer price index didn’t really shock the markets because it was in line with what Wall Street expected. At the same time that investors were looking at the CPI figures, they were also thinking about how Donald Trump’s proposed fiscal policies could cause inflation. Investors didn’t pay much attention to today’s news about U.S. inflation, but they are becoming more worried about the long-term picture, wrote Diana Iovanel, a senior markets economist at Capital Economics, in a note Wednesday. She said, “Investors don’t seem to be too…

The numbers: The Federal Reserve said Friday that industrial production fell 0.3% in October. The Boeing strike and the effects of storms Milton and Helene slowed things down. The drop was in line with what economists polled by the Wall Street Journal thought would happen. If not for the strike at Boeing BA 1.48% and the storms, October production would have been pretty much the same. The previous estimate for September production was a 0.3% drop, but it was changed to a 0.5% drop. This month, Boeing factory workers agreed to a new deal, which ended the seven-week strike. What…

The amounts: If you want to know how busy factories are in New York, the Empire State business conditions index went up 43.1 points in November to 31.2, according to the area Fed bank on Friday. There has been no level this high in almost three years. A poll by the Wall Street Journal found that economists had been expecting a flat reading. Any number above zero means things are getting better. Important facts: In November, the index for new sales went up 38.2 points to 28. The measure for shipments went up by 35.2 points to 32.5. In the…

Republicans look like they will keep the U.S. House of Representatives in their hands in the new year, though once again, a narrow majority is expected to give GOP leaders a hard time. The Associated Press says the party won 214 House races, which is just short of the 218 needed to take control of the 435-member house. The AP has called 205 seats for Democrats, but 16 seats are still up for grabs as of Tuesday afternoon. Other news outlets have said that the battle for the House will go to the Republicans, and an expert from the neutral…

The numbers: In October, the prices of foreign goods went back up, which made U.S. inflation a little higher. This was mostly due to higher fuel prices. Last month, the measure of import prices went up 0.3%. The Wall Street Journal asked economists and found that they thought the economy would drop by 0.1% in October, following a much bigger drop in September. The government said that import prices went up 0.2% last month if energy is taken out of the picture. Important facts: In October, fuel prices went up 1.5%, partly making up for a 7.5% drop the month…

The U.S. stock market’s rise after the election hit a snag. After going through a big jump after Donald Trump won the election on November 5, it was probably due for a slowdown. The only question was what would set it off. Federal Reserve Chair Jerome Powell stepped up during a Thursday event in Dallas. Powell told investors that the Fed wasn’t in a hurry to cut interest rates again because the economy was doing well. He said a lot of the same things he said after the Fed cut rates again on November 7, this time by 25 basis…

In the past few days, Bitcoin has kept hitting new all-time highs. This has sparked more investment interest, but some are wondering if it’s too late to get in. Luuk Strijers, CEO of crypto derivatives platform Deribit, said that traders in crypto derivatives look very bullish based on data from the options market. They are betting that bitcoin has more room to rise. Dow Jones Market Data says that on Wednesday, Bitcoin BTCUSD -0.92% got as high as it ever got, at $93,445. It was worth about $90,984 on Saturday morning, 151% more than a year ago. Data from Deribit…

People in California are building tiny homes in their backyards. This trend has become an example for towns across the U.S. that are having trouble finding enough housing. The area where high school math teacher Kelly Abbott lives is one of the most expensive in the country. She thought she got a great deal when she bought her single-family home in the Bay Area for less than $385,000. for the first time. She had no idea that her good deal would become her golden ticket in the end. Some of the strictest single-family zoning laws in the country are in…

NEW YORK — A federal judge in Texas stopped the Biden administration from putting in place a new rule that would have let millions more salaried workers across the U.S. get extra pay. U.S. District Judge Sean Jordan sided with the state of Texas and a group of business groups on Friday. They said the Labor Department went beyond its power when it finalized a rule earlier this year that made it much easier for salaried workers to get overtime pay. Federal law says that almost all paid workers in the U.S. should get extra pay after working 40 hours…

Donald Trump, the next president, has announced his picks for a number of important government jobs, but he has not yet announced his choice for Treasury secretary. Some of his top picks are hedge fund manager Scott Bessent and Cantor Fitzgerald CEO Howard Lutnick, but there are still other names in the running. As the country’s chief financial officer and the president’s major economic advisor, the head of the Treasury Department is a very important job. It was Lutnick’s job as co-chair of Trump’s transition team in 2024 to hire people, but now he wants to hire someone himself. Several…