Bernanke notes Americans manage finances well overall
Federal Reserve Chair Ben Bernanke said most U S households handle finances well despite higher borrowing costs and energy prices. He cited low delinquency and a $53 trillion net worth in Q1, but warned low income families face access gaps and smaller net worth, with many being unbanked.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Ben Bernanke
Bernanke
U.S
Inflation labeled an annoyance despite rising producer prices
A Chicago based government report shows producer prices up 5.6 percent over 12 months driven by energy costs. Economists expect consumer prices to keep rising with forecasts of inflation near 4 percent for the second quarter. Analysts say wages are roughly keeping pace but may diverge in future, with lower income workers bearing the brunt of ongoing price shocks.
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Chicago
Carl Tannenbaum
LaSalle Bank
U.S
Mark Zandi
Moody’s
Economycom
West Chester
Amy
Jacob Lopez
Troy
Center Left
Johnny
Eureka
Calif
Lopez
California
Wholesale inflation edges up 0.2 percent in May
The Labor Department reports the Producer Price Index rose 0.2 percent in May after two prior increases. Energy prices gained 0.4 percent while food prices fell 0.5 percent. Retail sales nudged 0.1 percent higher, autos dragging, and inventories rose 0.4 percent in April. Analysts note cooling growth from early 5.3 percent to around 3 percent.
MENTIONED IN THIS ARTICLE
Washington
Labor Department
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THE
Associated Press
Bureau of
Labor Statistics
Mark McKenna
Bureau of Labor Statistics
Dillard
Dillard's
Calhoun