Congress OKs Dems’ climate, health bill, a Biden triumph

WASHINGTON (AP) — A divided Congress gave final approval on Friday to the Democrats’ landmark climate and health care bill.offering President Joe Biden a triumph back from the dead on coveted priorities that the party hopes will bolster their chances of retaining their House and Senate majorities in November’s election. The House used a 220-207 … Read more

US House gives Joe Biden a win with massive bill on climate change and drug prices

The Democratic-led U.S. House of Representatives has approved a $430 billion ($604 billion) bill that is seen as the biggest climate package in the nation’s history, delivering a major legislative victory for President Joe Biden ahead of the November 8 midterm elections. Key points: About half of Americans support climate legislation and drug pricing, polls … Read more

What inflation? US import prices drop, consumer sentiment rises | Business and Economy News

Import prices, excluding customs duties, fell 1.4% in July, the biggest monthly drop since April 2020. U.S. import prices fell for the first time in seven months in July, helped by a strong dollar and lower fuel and other fuel costs, while the one-year inflation outlook for consumers declined in August, with the latest signs … Read more

US inflation slips from 40-year peak but remains high 8.5%

WASHINGTON (AP) — Falling prices for gasoline, plane tickets and clothing brought some relief to Americans last month, though headline inflation is still near its highest level in four decades.. Consumer prices jumped 8.5% in July from a year earlier, the government said on Wednesday, compared with a 9.1% year-on-year increase in June. On a … Read more

Weak US CPI means EURUSD 105 no longer unrealistic

Well, that was the kind of much-needed volatility that was missing so far in the week! The highly anticipated US inflation report met expectations in terms of market impact as the dollar plunged and everything else rose, including all foreign currencies, gold, bitcoin and stocks. Among the majors, EUR/USD has finally come out of … Read more

Biden, WH claims US has ‘zero inflation’ despite high rate

President Biden tried to assert on Wednesday that the United States had “zero inflation” in July hours after federal Consumer Price Index data showed annual inflation falling only marginally to 8.5%, which outraged Republicans and other critics who pointed out that it was still close to a four-decade high. . The latest figures reflect a … Read more

US inflation lower than expected last month calming markets

You S inflation fell back from 9.1% to rest at 8.5% last month, still critical for the economy, but falling from the four-decade peak reached in June and calming the markets. The announcement of July economic data should calm markets which feared a rise in the consumer price index (CPI) and ease the pressure on … Read more

U.S. consumers likely got some relief from sizzling price increases in July but Fed won’t feel any better

U.S. consumer price data for July is expected to show some moderation from the blistering pace of inflation in June and, while Wall Street may appreciate that, the data should not be encouraging for the Federal Reserve. . The consumer price index is expected to moderate to a 0.2% increase in July when the report … Read more

Treasury yields in focus after strong jobs growth data

U.S. Treasury yields fell on Monday after surprisingly strong jobs data raised the likelihood of aggressive rate hikes by the Federal Reserve. The yield on the benchmark 10-year Treasury fell 4 basis points to around 2.7993%, while the yield on the 30-year Treasury fell 2 basis points to 3.0383%. Yields move inversely to prices and … Read more

US Senate passes Biden’s $454bn Inflation Reduction Act

Although far smaller than Democrats had hoped, the passage of a key bill is a welcome boost for Mr Biden, whose ratings have plummeted over the past year. past year. Climate provisions, designed to wean the United States off fossil fuels, are estimated to help reduce America’s greenhouse gas pollution to 60% of 2005 levels … Read more