ECB’s Lane Sees ‘Demand Destruction’ Muting Energy Impact On Inflation
The recent rise in energy prices may cool demand in the eurozone that would limit the need for rate rises
Economics
U.S. consumer spending is on the rise despite frustrations with persistent inflation and gloomy views about the economy
Spending is rising because prices are climbing and Americans are buying more stuff. Source link
Record diesel prices are squeezing truckers, driving up costs and leaving independent drivers struggling to make ends meet
A day at a truck stop in Texas shows an industry essential to the U.S. economy under tremendous pressure. Source
Week Ahead for FX, Bonds: Fed Minutes in Focus as Near-Term Rate-Hike Prospects Dim
The Federal Reserve’s minutes for its September meeting are due Wednesday and will mark the highlight of the coming week.
The U.S. added 29,000 jobs in September, the Labor Department said Friday, missing expectations
Anemic hiring fell far short of expectations, but the unemployment rate remains near historic lows. Source link
Eurozone Inflation Jumps to Three-Year High on Sharper Energy Costs
Consumer prices were 3.8% higher in September than the same month of last year, up from 3.2% in August. Source
Heard on the Street: High government debt is adding fuel to the global bond market selloff
Oil prices are driving rates higher, but indebtedness is a key risk factor. Source link
South Korea’s Inflation Eases But Stays Sticky
Headline inflation moderated last month but remained above the central bank’s 2% target, underscoring the challenge of taming price pressures
Fed Vice Chair Philip Jefferson said officials may need more time before deciding whether to raise interest rates again, echoing signals from another Fed leader this week that cast doubt on bets the central bank would lift rates at its meeting later this month
Vice Chair Jefferson echoes another central bank official who cast doubt on an October hike. Source link
Mortgage rates posted their largest increase in four years this week
The rise to 7.28% follows the bond-market rout and deals another blow to a limping housing market. Source link