Unilever CEO Alan Jope has warned of the possibility of persistently high prices in the near future even if inflation levels out, adding that soaring costs have not yet reached their peak. Jope made the comments while speaking to CNBC at the World Economic Forum in Davos, Switzerland, on Jan. 17, where the businessman was asked if…
Prices Will Keep Rising Despite ‘Peak Inflation’ Chatter, Warns Unilever CEO
The Federal Reserve Has Misdiagnosed the Cause of Inflation
Commentary Among reports of large companies laying off workers and forebodings of a recession, the prestige automaker Rolls Royce announced it sold in 2022 the largest number of cars in its history. “The USA was once again the marque’s largest overall market,” stressed the corporation’s statement. On the same day, Federal Reserve Board Chairman Jerome…
Republican Congressman Calls for Audit of Federal Reserve
Rep. Thomas Massie (R-Ky.) reintroduced on Jan. 10 his Federal Reserve Transparency Act in the House of Representatives, an annual tradition for the congressman. Dubbed the “Audit the Fed” bill, the legislation is an evolved iteration of a bill put forth by former congressman Ron Paul (R-Tex.) back in 1983. “It’s official!” Massi wrote in a tweet …
US Annual Inflation Rate Slows to 6.5 Percent, Food and Shelter Costs Add to Price Pressures
The U.S. annual inflation rate slowed to 6.5 percent in December, down from 7.1 percent in November, according to the Bureau of Labor Statistics (BLS). The consumer price index dipped 0.1 percent month-over-month. The core inflation rate, which strips the volatile food and energy sectors, eased to 5.7 percent last month, down from 6 percent…
Capitol Report: Classified Documents Found in Biden’s Previous Office; House Republicans Vote to Defund the IRS
January 10, 2023
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Lawmakers are reacting to classified documents found at President Joe Biden’s private office. New committees formed Tuesday on Capitol Hill; one is a GOP-led effort to probe government organizations. The other is an effort to oppose the Chinese Communist Party’s global influence. In one of the first orders of business, the House GOP moves to limit…
Chair Jerome Powell Stresses Fed Independence, Defers Climate Policymaking
Federal Reserve Chair Jerome Powell emphasized the need for central bank independence while the institution grapples with elevated inflation. During a speech at Sweden’s Riksbank on Tuesday, the head of the U.S. central bank stated that resuscitating price stability requires employing difficult measures that may not be politically popular. “Price stability is the bedrock of…
Investor Peter Schiff Predicts More Pain in 2023
Peter Schiff, chief economist and global strategist of Euro Pacific Asset Management, is famous for his bearish takes. A falling stock market, a deep recession, and a sovereign debt crisis were among his predictions in the past. As the first trading week in January came to a close, The Epoch Times sat down with Schiff…
US Recession Is the ‘Most Likely Outcome,’ Says Ex-Federal Reserve Chief Alan Greenspan
The U.S. slipping into a recession is the “most likely outcome,” says former Federal Reserve chair Alan Greenspan. Greenspan, who is now the senior economic adviser at Advisors Capital Management, stated in a year-end question-and-answer commentary posted on the firm’s website on Tuesday that even a pivot by the central bank would not be “substantial…
Recession Is the ‘Most Likely Outcome,’ Says Alan Greenspan
The U.S. slipping into a recession is the “most likely outcome,” says former Federal Reserve chair Alan Greenspan. Greenspan, who is now the senior economic adviser at Advisors Capital Management, stated in a year-end question-and-answer commentary posted on the firm’s website on Tuesday that even a pivot by the central bank would not be “substantial…
Progress Against Inflation?
Commentary The Federal Reserve (Fed) has made remarkable progress in its counter-inflation efforts. Flows of new money into the economy—the ultimate inflationary fuel—have slowed and, by some measures, reversed. Meanwhile, consumer price pressures seem to have moderated. Signs are indeed encouraging. It would, however, be a mistake to look for a quick end to inflationary…
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