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October’s Inflation Report: Shelter Prices Up, Gasoline Plummets — Mixed Market Reactions Follow
14.11.2023
On Tuesday, the U.S. Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers (CPI-U) remained unchanged in October, following a 0.4% increase in September. Over the past year, the all-items index rose 3.2% before seasonal adjustment, marking a notable trend...
US Lawmakers Introduce Bill Allowing Crypto Investments in 401(k) Retirement Plans
1.10.2022
Several U.S. lawmakers have introduced the Retirement Savings Modernization Act to provide 401(k) retirement savers access to a wide range of investments, including crypto assets. “With inflation at record highs, a stock market downturn, and a potential recession on the horizon, many...
US Inflation Spiked 8.6%, Highest in 40-Years — Economist Says We’re Not ‘Seeing Any Signs That We’re in the Clear’
11.6.2022
After April’s consumer price index (CPI) report was published, a number of American economists and bureaucrats said that inflation had peaked and it was possible that inflation would subside. However, statistics from the U.S. Labor Department indicate the CPI increased 8.6% from a year...
Lawsuit Claims US Labor Department’s Crypto Guidance Is Unlawful
7.6.2022
The U.S. Department of Labor has been sued by a 401(k) plan administrator over its cryptocurrency guidance. “This lawsuit seeks to preserve the rights of American investors to choose how to invest money in their own retirement accounts.” U.S. Labor Department Sued Over Crypto Guidance...
US Senator Introduces Bill Prohibiting Labor Department From Interfering With Crypto in Retirement Accounts
7.5.2022
A U.S. senator has introduced a bill to prohibit the Labor Department from issuing a regulation or guidance that limits the type of investments investors can choose in their retirement plans, including cryptocurrency. “Today, the Biden administration is targeting cryptocurrency. Which...
Fidelity’s Bitcoin 401(k) Offering Risks Retirement Security of Americans, Says Labor Department Official
30.4.2022
The U.S. Labor Department has “grave concerns” about Fidelity Investments allowing investors to put bitcoin into their 401(k) accounts for retirement savings. An official of the Labor Department said it risks the retirement security of Americans, stressing that...
Data Shows US Consumer Prices Hit a 40-Year High, Biden Blames Inflation on ‘Putin’s Aggressive Actions’
11.3.2022
Following the record 7.5% high for January, the U.S. Labor Department’s Consumer Price Index (CPI) data shows February’s CPI metrics rose to 7.9%. The CPI data published on Thursday is a new 40-year high and month over month, inflation jumped by 0.8%. President Joe Biden is blaming...
St. Louis Fed President Says Central Bank’s ‘Credibility Is On the Line’ as US Inflation Surges
16.2.2022
Inflation continues to grip American wallets, according to a recent economic analysis from Moody’s Analytics, which shows inflation is likely costing the average U.S. household between $250 to $276 per month. Meanwhile, the U.S. Federal Reserve is expected to raise the benchmark interest...