Page 24 - Cornerstone Macro News Today

✕ From February 2020 to June 2021, average hourly earnings for leisure and hospitality jobs increased 7.9%. For retail jobs, the increase was 8.6%. Photo: Getty Images CAPITAL IDEAS: What is causing the labor shortage? It’s not only about the money. A recent report found that 64% of employees would turn down a $30,000 annual raise to keep working from home indefinitely. There has been much conjecture, but little evidence, as to why the U.S. is experiencing a labor shortage. Some say it’s ...

By Howard Schneider, Jonnelle Marte and Lindsay Dunsmuir WASHINGTON (Reuters) - Federal Reserve officials last month felt substantial further progress on the U.S. economic recovery "was generally seen as not having yet been met," but agreed they should be poised to act if inflation or other risks materialized, according to the minutes of the central banks June policy meeting. In minutes that reflected a divided Fed wrestling with new inflation risks but still relatively high unemployment, "v...

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On CNBC's "Fast Money," Car...

By Syndicated Content By Howard Schneider WASHINGTON (Reuters) – Tension between sticky job markets and rising prices could pose a growing problem for U.S. Federal Reserve officials who have staked an aggressive monetary policy on the belief they can avoid a conflict between returning U.S. employment to pre-pandemic levels and keeping inflation under control. Traditionally, some trade-off between the two is regarded as unavoidable, with the cost of controlling inflation paid in sl...

Strategists said heightened regulatory pressure as well as its technical picture are pointing to more wild trading ahead.

By Veronica Fulton, Research Analyst – GLOBALT Investments The labor market delivered a disappointing jobs number for the month of April with only 266,000 gains – a little over a quarter of the one million jobs forecasted. Adding fuel to the fire, the unemployment rate rose to 6.1%. The labor force participation rate increased to 61.7%, but this number is still near its lowest level since 1977. With such abysmal numbers, one might expect a correction or, at the bare minimum, a reaction ref...

About a quarter of bitcoin’s value has been wiped away in the span of a week, in part thanks to headspinning tweets from Elon Musk.

On CNBC's "Options Action," Mike Khouw suggested that traders should consider a bullish options trade in Macy's Inc (NYSE: M). He said ...

U.S. Inflation Surges to 13-Year High of 4.2% U.S. inflation surged to its highest rate since the eve of the 2008 financial crisis in April, as last year’s collapse in oil prices and a nascent economic recovery combined to generate the kind of number that many market participants have feared. Get this, they EXCLUDE FOOD AND ENERGY PRICES. Everything is driven by energy so the inflation index, as bad as it is, is actually worse. The consumer price index rose 4.2% from a year ago, according t...