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Fed's preferred inflation gauge shows price pressures stayed elevated last month
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China Services-Sector Gauge Shows Slower Activity Expansion
A private gauge of China’s services sector showed activity grew at a slightly slower pace in April, though there are signs of a recovery in consumption given strong spending over recent holidays.The Wall Street Journal - World - China -
World prefers U.S. over China for global leadership when a Democrat is president, Gallup analysis shows
Most countries prefer aligning with the U.S. over China when the White House is occupied by a Democratic leader, according to Gallup data going back to 2007.CNBC - Business - China -
What will happen to home prices if mortgage rates stay high? Experts weigh in
Experts say home prices are likely to rise or stay the same in the near term if mortgage rates remain high.CBS News - Top stories - Mortgage -
Fed’s Williams says independence is key to winning fight against inflation
New York Federal Reserve President John Williams on Friday said that the U.S. central bank needed independence from the White House in order to get inflation back to its 2% target.MarketWatch - Business - Inflation -
New York Fed President Holds to 2 Percent Inflation Target
As prices keep rising, the central bank faces off against critics calling for rate cuts.Inc. - Business - New York -
Fed’s Barkin thinks the U.S. economy will slow further, cooling down inflation
Recent data whiplash only confirms the wisdom of being slow to move interest rates, the Richmond Fed president says.MarketWatch - Business -
ISM service-sector gauge weakens sharply in April
The Institute for Supply Management said on Friday that its service-sector PMI dropped sharply to 49.4% in April from 51.4% in the prior month.MarketWatch - Business -
Credit cards are the ‘financing of last resort’ for older adults as inflation persists
As inflationary pressures leave older adults with little wiggle room to pay for everyday items and cover emergency costs, credit cards have become the financing method of last resort. As a result, balances have jumped since last year.MarketWatch - Business -
Why fast-food price increases have surpassed overall inflation
Fast food has become increasingly expensive — and some consumers are changing their spending habits because of it.CNBC - Business -
Skittles is giving away a 1-year stay in an NYC micro-apartment that usually rents for $3,500/month: Take a look inside
The giveaway is a promotional stunt for the brand's new Skittles Littles candy.CNBC - Business
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