by Alexander Marlow
Breitbart.com

Would You Like a Side of Inflation with That?

$43.99. That is the price of “12 delicious pieces of fire-grilled chicken with a choice of 3 large sides, warm tortillas and fresh salsa” at El Pollo Loco, at least according to one online influencer.

(I checked the prices for the same meal at the local franchise in my suburban-Los Angeles neighborhood, and it’s $41.79; so prices do very a little bit.)

As the political class debates whether Joe Biden is going to actually get nominated by the Democrat Party, much of America is dealing with a new reality: fast food is no longer synonymous with cheap food.

We see Bidenflation all around us in new ways every day.

Continue Reading at Breitbart.com…

from Ricky Gutierrez

US stocks jumped to record highs ahead of key economic data releases this week.

by Matthew Fox
Business Insider

US stocks jumped to record highs on Monday ahead of key economic data scheduled for this week.

Investors will be keenly focused on the June consumer price index report on Thursday, with Core CPI expected to rise 3.1% year-over-year, compared to May’s CPI report of 3.3%.

More inflation data will be released on Friday with the release of the June PPI report, which is expected to rise 0.1% on a month-over-month basis.

The new inflation data will help inform investors and the Federal Reserve about the path of interest rates for the rest of this year. Current market forecasts suggest the Fed’s September FOMC meeting will bring the first rate cut.

Continue Reading at Markets.BusinessInsider.com…

from ET NOW

A softer-than-expected number could pressure the Fed to signal an interest rate cut is likely in September — or even open the door to one later this month

by Joseph Adinolfi
Market Watch

Thursday’s inflation report is expected to be the main event for U.S. markets during a busy week that also includes the start of the second quarter corporate earnings reporting season, a handful of Treasury debt auctions, and potential developments in the presidential election race.

Like all marquee economic releases, the June consumer price index numbers could have serious ramifications for markets, but investors will be paying especially close attention this month, as the timing of the Federal Reserve’s first interest-rate cut could hang in the balance.

At the very least, a smaller than expected rise in inflation could encourage Fed Chair Jerome Powell to more forcefully prime the market for a rate cut at the Fed’s September meeting, but some believe that a sufficiently weak number could even open the door to a rate cut in a few weeks, something that futures-market traders have dismissed as extremely unlikely, according to CME Group data.

Continue Reading at MarketWatch.com…

from IG UK

With his initial reforms now in effect, the Argentine president announced the “second phase” of his war against inflation and the deficit.

by Katarina Hall
Reason.com

Argentine President Javier Milei’s economic reforms were signed into law and immediately went into effect on Monday, marking the beginning of an era of privatization and deregulation aimed at revitalizing the country’s struggling economy.

Milei, alongside Chief of Cabinet Guillermo Francos and Minister of Economy Luis Caputo, signed the comprehensive reform package and its accompanying fiscal package this morning.

“Argentina is immersed in a serious and deep economic, financial, fiscal, social, pension, security, defense, tariff, energy, health and social crisis without precedent, which affects all levels of society and the very functioning of the State,” the omnibus bill states. The extensive document is made up of over 200 articles that broadly deregulate and reform these sectors.

Continue Reading at Reason.com…

from Schwab Network

from King World News

Here is a look at gold, upcoming interest rate decision, plus another wave of inflation.

Gold

July 8 (King World News) – Graddhy out of Sweden: Said on March 5th that this chart was saying miners were going to outperform general equities going forward. And, miners did also bottom there and then.

No need for great big picture charting to be complicated.

Continue Reading at KingWorldNews.com…

from Timcast IRL

by Amy Furr
Breitbart.com

A man in California spent more than $400 dollars at Trader Joe’s to feed his six children for a week and a half, as Americans struggle to survive in President Joe Biden’s (D) economy.

The father shared a video online that showed a receipt from the store in Westlake Village in Los Angeles County, Fox Business reported Saturday.

“Here’s what it takes to feed six kids in about a week and a half,” the man said in the video. The camera then pans down to show the bottom of the receipt which says the total bill was $444.38:

Continue Reading at Breitbart.com…

from The Comments Section with Brett Cooper

by Llewellyn H. Rockwell Jr.
Mises.org

The US central bank, called the Federal Reserve, was created in 1913. No one promoted this institution with the slogan that it would make wars more likely and guarantee that nearly half a million Americans will die in battle in foreign lands, along with millions of foreign soldiers and civilians.

No one pointed out that this institution would permit Americans to fund, without taxes, the destruction of cities abroad and overthrow governments at will. No one said that the central bank would make it possible for the United States to be at large-scale war in one of every four years for a full century. It was never pointed out that this institution would make it possible for the US government to establish a global empire that would make imperial Rome and Britain look benign by comparison.

You can line up 100 professional war historians and political scientists to talk about the 20th century, and not one is likely to mention the role of the Fed in funding US militarism.

Continue Reading at Mises.org…

from Zac Rios

Market Questions is the FT’s guide to the week ahead

by Kate Duguid, Thomas Hale, and Mary McDougall
FT

A further decline in US inflation is expected this week, which could bolster the case for multiple Federal Reserve interest rate cuts this year.

Economists are forecasting annual consumer price inflation of 3.1 per cent in June, when the latest figures are published by the Bureau of Labor Statistics on Thursday, according to economists polled by Reuters, down from 3.3 per cent in May.

Alongside Friday’s data showing that the pace of hiring in the US is slowing, the figures could encourage the Fed to deliver its first reduction in borrowing costs sooner rather than later. Markets at present expect two rate cuts this year, with the first arriving in September or November, but Fed officials suggested when they met in June that they expected to cut interest rates only once this year.

Continue Reading at FT.com…

from Zeihan on Geopolitics

by Laura Beck
Yahoo! Finance

The 2024 election will be here before you know it, and economists are watching it closely.

If Donald Trump wins a second term, some experts believe it could affect the U.S.’s inflation trajectory — that a second Trump term would mean higher tariffs, deficits and other policies that would increase inflation. While forecasting economic conditions isn’t an exact science, experts can speculate using knowledge about the past and some clues about the future.

A new report from Allianz Research provides insights into how inflation could unfold under a Trump 2.0 presidency. The report shows that while some policies could increase inflation in the short-term, the overall inflation path would be shaped by factors like the Federal Reserve’s actions and broader economic conditions.

Continue Reading at sg.Finance.Yahoo.com…

from Trading Fraternity

The Consumer Price Index (CPI) report and Jerome Powell’s testimony may provide cues on Fed’s monetary policy path

by Rajendra Saxena
Mint

Wall Street in the week ahead will see some key economic reports that could influence the stock markets.

Among the economic events, the major focus of investors will be on consumer inflation for June and Federal Reserve chair Jerome Powell’s testimony to the US Congress.

The Consumer Price Index (CPI) report and Powell’s testimony may provide cues on Fed’s monetary policy path.

The week ahead will also see the start of the second quarter earnings season. PepsiCo, Citigroup, JPMorgan Chase, Wells Fargo, and Delta Air Lines are the important ones to watch out for.

Continue Reading at LiveMint.com…

from NewsNation