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Stock markets may stabilise in Asia as traders weigh global growth
... super-dovish Bank of Japan and a hawkish Fed . Concerns about the demand outlook and weakening global growth have resulted in an increase in crude oil prices, while prices for metals like copper are being buffeted by concerns about the demand outlook. St. Louis Fed President James Bullard warned that the US's inflation expectations could become unmoored without credible Fed action, while former Treasury Secretary Lawrence Summers argued that the nation's jobless rate would need to rise above 5% for ...
Updated: 06/20/2022
Fed's Bullard says economy should continue to grow
The U.S. economy should continue to grow in the coming months, said James Bullard, St. Louis Fed President, playing down the fears of a severe economic downturn that some economists and market pros view as inevitable in the face of the central bank's war against too-hot inflation. The U.S. economy should continue to grow in the coming ...
Updated: 06/20/2022
Fed could be on track for'stronger performance' in the second half of 1990s
If the central bank's 1994 tightening cycle continues, the U.S. Federal Reserve could raise interest rates and forge a stellar economy ahead, according to St. Louis Fed President James Bullard on Monday. If the central bank's 1994 tightening cycle continues, the U.S. Federal Reserve Federal Reserve could raise interest rates and forge a stellar economy ahead, according to St. Louis Fed President James ...
Updated: 06/20/2022
US stimulus checks are overheating economy
... boost, which included three rounds of stimulus checks totaling $803 billion. The National Bureau of Economic Research found in October 2020 that most of the stimulus money was saved or used to pay off debt. The personal savings rate, calculated by the St. Louis Fed, peaked during periods of stimulus check disbursements. After the second and third rounds of stimulus payments, the personal savings rate went up to 19.9% and 26.6%. The savings rate declined to 4.4% as of April 2022, suggesting that some Americans ...
Updated: 06/17/2022
Molson Coors recalls Coors Light, Keystone Light beers after NSFW videos
... after some consumers noticed a gooey texture to the beverage. The beer maker issued a recall saying it was alerted to a quality issue with some of its Coors Light and Keystone Light beers produced in Trenton, Ohio, according to a notice posted by St. Louis distributor Dierbergs Markets . Molson Coors said the beer was pulled from store shelves as a result of the recall. There is no recall of Coors Light or Keystone Light , and there is no food-safety issue related to either beer, according to a ...
Updated: 06/15/2022
Low inventory could help consumers find affordable vehicles
... on record. As sales decline and as inventory goes up, that's going to cause an easing of prices, according to Brian Moody , executive editor of Autotrader.com . The average number of U.S. car sales is around 17 million, but economic data from the St. Louis Federal Reserve says only 13.1 million sales are expected in 2022. Slowing sales, likely due to high prices and low inventory, could cause car dealers to lower the lot price and offer a more affordable amount. Moody explained that the automakers ...
Updated: 06/14/2022
Over 100 million Americans warned to stay indoors as heatwave spreads
... high temperature records in the west, the south-west and into Denver during the weekend, moved east into parts of the Gulf Coast and the midwest on Monday and will expand to the Great Lakes and east to the Carolinas, the National Weather Service said. St Louis, Memphis, Minneapolis, and Tulsa are among several cities under excessive heat warnings with temperatures expected to reach around 100 F 38 C accompanied by high humidity that could make conditions feel close to 110 F 43 C In Jackson, Mississippi,...
Updated: 06/14/2022
St. Louis teen dies after falling from Florida drop-tower ride
... Examiner's Office also ruled that 14-year-old Tyre Sampson 's death in March was an accident. Sampson slipped out of his seat about halfway down the Free Fall ride, which is located in a tourist area of Orlando. Sampson , who played football in the St. Louis area, weighed 383 pounds when he died. The maximum rider weight is around 285 pounds. Sampson was in Orlando with a friend's family for a vacation, and his size has been examined as a potential factor. An initial report by outside engineers hired ...
Updated: 06/14/2022
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