Goldman Sachs said commodities markets will only cool when sky-high prices cause "demand destruction."
Worker pay isn't the only thing to blame for inflation. Other factors are playing a much larger role in lifting prices across the US.
Tyson Foods has already put up the price of pork 40%, and will hike up prices for retailers again next month because of "unprecedented" costs.
The pick-up in retirements and use of new technologies can keep the labor market from returning to its pre-pandemic state, the Fed says in a report.
A trade "strike force" will crack down on unfair foreign trade practices and promote agreements with allies, the White House said Tuesday.
Shortages of key materials left US factories struggling to meet surging consumer demand. A similar problem is now emerging as firms look to hire.
The US has a "workforce shortage and we have raising inflation, both directly related to this recent bill that just passed," McConnell said.
UBS sees the used-car prices jump leading an "enormous surge over just the past few months" for the consumer price index, a popular inflation gauge.
On Monday, Costco temporarily limited the number of fresh meat products customers could buy to three items per member. Growing fears of a meat shortage are sweeping the country as coronavirus outbreaks have forced many meat plants to close. At least 4,900 meat processing workers have tested positive for the […]
Hospitals in Europe are facing a shortage of protective gear for medical workers fighting the spread of novel coronavirus. Some doctors and nurses in Spain have turned to garbage bags for protection. In the US, hospital-set TV shows are donating their equipment to working hospitals and fire stations. Visit Insider’s […]
The ongoing coronavirus outbreak could result in a dangerous and unique type of global economic recession. The outbreak has already crippled spending activity in China and prompted widespread factory shutdowns, harming both supply and demand in the economic superpower – and infecting economic operations worldwide. Central banks are normally well-positioned […]
Apple is expected to launch a redesigned iPhone...