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- I changed jobs 10 times in 10 years to get the career I wanted
The lily-padding trend sees young people repeatedly move jobs to try to advance in the workplace. [TheTopNews] Read More.2 hours ago - Buy Now Pay Later rules to bring refunds and rejectionsConsumers should be better protected as Buy Now Pay Later lenders now require authorisation to operate. [TheTopNews] Read More.2 hours ago
- Heating oil customers to get compensation after price hikesThe cost of hearing oil spike following the US-Israel war with Iran which forced up crude prices. [TheTopNews] Read More.2 hours ago
- Warsh Reiterates Fed’s Pledge to Get Inflation Down but Doesn’t Specify How
Kevin M. Warsh, in his first testimony to Congress as chairman of the Federal Reserve, did not shed light on whether he supported higher interest rates to tame price pressures. [TheTopNews] Read More.2 hours ago - Midnight social media curfew and scrolling curbs proposed for older UK teensTeens will be able to opt out of the restrictions - campaigners have criticised them as being piecemeal. [TheTopNews] Read More.4 hours ago
- LARRY KUDLOW: Can Kevin Warsh have his cake and eat it too?
The sun was shining on the Fed chairman, Kevin Warsh, today as he gave his first Congressional monetary report on a day when the consumer price index unexpectedly fell for the first time in six years. And that takes a near-term Fed rate hike off the table.As Mr. Warsh said, it’s too soon to declare "mission accomplished," but he vowed to defeat inflation and get monetary policy right during his appearance before the House Financial Services Committee. As he put it: "The 63 months of inflation above target has been an unfair burden. It has been a tax on the American people and businesses. We plan on getting rid of that tax if that means we need a regime change in policy and we need new consideration of practices, some of which have been working, some of which haven’t, that’s what we aim to do"The new Fed chairman has been in office only two months, but energy, precious metals, and farm commodity prices have already started trending lower. Mr. Warsh intends to be a reformer at the central bank, and has commissioned a number of high-level task forces that will report later in the year on "regime change," as he puts it. Yet one thing he understands better than his predecessor is that inflation is a monetary policy issue caused by bad choices and a lack of resolve to restore price stability and presumably restore the 2 percent target. Futures markets took at least one Fed rate hike off the table after the benign CPI report. There’s still another rate hike priced in perhaps some time this autumn, but I doubt it.When you look at the core numbers excluding food and energy, which is what many Fed officials are focused on, the monthly numbers are coming down steadily, and even the 12-month change is only 2.6 percent. The topline number for all items was lower in May than in April, and in June it actually fell by four-tenths of one percent.Of course energy overall and gasoline in particular drove the index down. But it’s also noteworthy that goods prices have been nearly flat for a year, excluding food and energy. The much-heralded tariff inflation which would have shown up in goods prices really never came to pass, or if it did, was only momentarily.Meanwhile the topline also dropped by 1.1 percent in June. Services were flat in June. New and used… [TheTopNews] Read More.4 hours ago
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