Inflation

China is seeking to utilize rock bottom Russian oil prices to refill their strategic reserves.

Walmart and Target, solid barometers of consumer spending, didn't mince words on sky-high inflation.

Inflation is hitting the U.S. at a level unseen in decades, and both cities and small towns are feeling it.

The risk of a recession in the U.S. is growing rapidly, according to Morgan Stanley economists, as stubbornly high inflation threatens to weigh on economic activity.

White House press secretary Karine Jean-Pierre said Wednesday that the stock market, which continues to witness erratic trading amid soaring inflation, is not something the White House tends to “keep an eye on every day.”

The sky-high gas prices have roots in the faster-than-expected economic recovery from the pandemic, which has triggered the hottest inflation in decades as a result of strong consumer demand, an influx of government stimulus and disruptions in the global supply chain.

Inflation in the U.K. hit its highest point in 40 years Wednesday, matching the U.S. economy that hit its own 40-year in March.

Although mortgage rates have receded slightly from the record high notched last week, the average rate on the 30-year loan is still around 5.378%. By comparison, just one year ago, the 30-year rate stood at 3.00%. Since the start of the year, rates have jumped 2% – the fastest pace of growth since May 1994.

As a Maryland small business owner and the mother of a 4-month-old daughter, I am struggling with high inflation, supply chain problems, and now a shortage of baby formula – all thanks to President Joe Biden’s failed policies.