inflation

Tax strategy that could make up for losses – but investors need to act now

Investors may get a wake-up call this winter when it comes to taxes, but it doesn’t have to be that way. According to Ben Slavin of BNY Mellon, it’s a prime time to sell lost investments to curb capital gains. He warns that waiting until January or February may be too late. “A pretty nasty …

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Opinion: Opinion: High debts and stagflation will bring mother of all financial crises

NEW YORK (Project Syndicate)— The world economy is lurching toward an unprecedented confluence of economic, financial, and debt crises, following the explosion of deficits, borrowing, and leverage in recent decades. In the private sector, the mountain of debt includes that of households (such as mortgages, credit cards, auto loans, student loans, personal loans), businesses and …

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Larry Summers predicts Fed will need to raise interest rates more than the market predicts

Former Treasury Secretary Larry Summers said the Federal Reserve will likely need to raise interest rates more than the market anticipated, as prices grew more slowly in October, although they remained high. Summers told Bloomberg Television’s “Wall Street Week” program with David Westin that the economy has “a long way to go” before inflation is …

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Three signs that inflation will stay high from today’s jobs report

Friday’s jobs report showed the bustling US economy has created hundreds of thousands of jobs, suggesting rising prices are here to stay despite the Federal Reserve’s efforts to contain them. The U.S. posted 263,000 job gains in November, far more than the 200,000 job gains economists expected to see, according to a federal jobs report …

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ME Santa launches 2022 campaign as demand for assistance skyrockets | Middlesex East

The Middlesex East Santa (ME Santa) is getting to be an old hand at raising funds for The Salvation Army these days around the Christmas holiday! The ME Santa puts out a hand (a kettle in Salvation Army terms!) with constant small donations going in a long way to help out in the Middlesex East …

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November employment report is the most important data for this year’s inflation – and not in a good way

The November US jobs report on Friday showed the US economy gained 261,000 jobs last month, with the unemployment rate holding steady at 3.7%. Economists polled by the Wall Street Journal were expecting 200,000 new jobs. Wages rose 0.6% in November, more than double what was expected. Here are some initial reactions from economists and …

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35% of millionaires say they won’t have enough to retire, report finds

A cool $1 million is not what it used to be. There are more millionaires in the US and globally than ever before, with nearly 24.5 million millionaires nationwide as of 2022, according to the latest Global Wealth Report from the Credit Suisse Research Institute. Even so, having seven figures in the bank offers less …

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Singapore and New York most expensive cities to live in: EIU

According to the Economist Intelligence Unit, New York is the most expensive city to live in, along with Singapore. Alexander Spatari | moment | Getty Pictures According to the Economist Intelligence Unit (EIU), Singapore has once again been named the most expensive city to live in, sharing first place with New York this year. This …

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Economist Austan Goolsbee named next Chicago Fed president

The economist Austan Goolsbee will take over as president of the Chicago Federal Reserve early next year as the central bank weighs critical policy moves ahead, according to an announcement Thursday. Goolsbee will take the seat officially on Jan. 9, 2023 and finish a term begun by the retiring Charles Evans that expires Feb. 28, …

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