Inflation

Inflation Woes Intensify as Saudi Arabia Slashes Oil Output

Inflation Woes Intensify as Saudi Arabia Slashes Oil Output

America's inflation woes are likely to intensify further after Saudi Arabia revealed in a surprise announcement that it is slashing oil output. On Sunday, the Saudis announced that the country is rolling out voluntary cuts to the Kingdom's oil production. Russia and other OPEC+ oil producers are joining Saudi Arabia…
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Warren Buffett Warns America ‘Deficits Have Consequences’

Warren Buffett Warns America ‘Deficits Have Consequences’

Investment mogul Warren Buffett has issued a warning about “runaway inflation” from the consequences of fiscal deficits over the last decade. In his annual letter (pdf) to Berkshire Hathaway shareholders, Buffett touted his confidence in the U.S. economy. However, he also warned that "deficits have consequences." Buffett, 92, encouraged investors…
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Eurozone’s Core Inflation Soars to Record High

Eurozone’s Core Inflation Soars to Record High

The Eurozone's core inflation soared to a record high in January, as the bloc’s energy crisis rages on. The euro bloc is currently facing the worst energy crisis in decades after the Russia–Ukraine war caused gas and oil prices to soar. Last month, Europe’s consumer price index showed inflation in…
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Used Car Prices Soar with Largest Spike in 14 Years

Used Car Prices Soar with Largest Spike in 14 Years

Used car prices have soared, recording the largest February increase in 14 years, according to reports. The spike in prices comes as inflation continues to drive consumer prices. Wholesale used-vehicle prices increased 4.1 percent from January through the first half of this month, signifying the largest February increase since 2009’s…
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Businesses Are ‘Extremely Cautious’ Heading into New Year

Businesses Are ‘Extremely Cautious’ Heading into New Year

American businesses are remaining "extremely cautious" as they head into the new year as recession fears continue to weigh heavy for 2023. One of the most hotly debated topics of 2022 has been the question of whether or not the U.S. economy is in recession. Yet corporate America is bracing…
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