Janet Yellen: Inflation expectations remain well anchored

New York (CNN Business)High inflation is a thorn in America’s side. Prices of groceries and gas are rising and Americans are growing pessimistic about the economy because of it. But it’s still nowhere as bad as the inflation spike of the 1970s, and prices aren’t going to surge like they did 50 years ago, according to Treasury Secretary Janet Yellen. […]

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Fed to start tapering bond purchases later this month as it begins pulling back on pandemic aid

The Federal Reserve said Wednesday it will begin tapering the pace of its asset purchases later in November. On a monthly basis, the reduction will see $10 billion less in Treasurys and $5 billion less in mortgage-backed securities. There also was only a slight change to Fed’s view on inflation. The post-meeting statement kept the word “transitory” to describe price […]

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U.S. Stocks Remain Mostly Positive In Mid-Day Trading

After moving to the upside early in the session, stocks remain mostly positive in mid-day trading on Tuesday. The major averages are extending a recent upward trend, with the Dow and the S&P 500 reaching new record intraday highs. Currently, the major averages are off their highs of the session but still firmly positive. The Dow is up 123.06 points […]

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Democrats manage to get 4 weeks of paid leave back into social spending bill. But it's still too early for Americans to count on

Democrats and advocates for paid leave cheered on Wednesday as a proposal that would give workers four weeks' leave was reinserted into the Build Back Better bill. However, the pending legislation still has a long way to go before it becomes law, and some lawmakers, namely Sen. Joe Manchin , Democrat of West Virginia, could object to the plan. "It […]

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The Price of Steak the Year You Were Born

Who doesn’t love a good steak? Well, vegans and vegetarians, maybe, but when dinner time rolls around, there are few meals that get most of us to the table quicker than a perfectly cooked steak hot out of the frying pan.  Steak has long been synonymous with good eatin’, but it has also always been considered a luxury item.  A […]

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BMW profits rise to €3.4bn as focus turns to more expensive cars

Carmaker is ‘overcoming difficult situations’, including global shortage of computer chips Last modified on Wed 3 Nov 2021 08.31 EDT BMW earned bigger profits than expected in the third quarter of 2021 after a focus on more expensive cars and electric vehicles helped the German premium carmaker to ride out a global shortage of computer chips. Profits before tax rose […]

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