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Joe Manchin, Chuck Schumer make surprise deal on health, energy, taxes

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Joe Manchin, Chuck Schumer Make Surprise Deal On Health, Energy, Taxes

WASHINGTON — In a startling turnabout, Senate Majority Leader Chuck Schumer and Sen. Joe Manchin announced an expansive agreement Wednesday that had eluded them for months addressing health care and climate, raising taxes on high earners and large corporations and reducing federal debt.

The two Democrats said the Senate would vote on the wide-ranging measure next week, setting up President Joe Biden and Democrats for an unexpected victory in the runup to November elections in which their congressional control is in peril. A House vote would follow, perhaps later in August, with unanimous Republican opposition in both chambers seemingly certain.

Just hours earlier, Schumer, D-N.Y., and Manchin, D-W.Va., seemed at loggerheads and headed toward a far narrower package limited — at Manchin’s insistence — to curbing pharmaceutical prices and extending federal health care subsidies. Earlier Wednesday, numerous Democrats said they were all but resigned to the more modest legislation.

The reversal was stunning, and there was no immediate explanation for Manchin’s abrupt willingness to back a bolder, broader measure. Since last year, he has used his pivotal vote in the 50-50 Senate to force Biden and Democrats to abandon far more ambitious, expensive versions. He dragged them through months of negotiations in which leaders’ concessions to shrink the legislation proved fruitless, antagonizing the White House and most congressional Democrats.

“This is the action the American people have been waiting for. This addresses the problems of today — high health care costs and overall inflation — as well as investments in our energy security for the future,” Biden said in a statement. He urged lawmakers to approve the legislation quickly.

Tellingly, Democrats called the 725-page measure “The Inflation Reduction Act of 2022” because of provisions aimed at helping Americans cope with this year’s dramatically rising consumer costs. Polls show that inflation, embodied by gasoline prices that surpassed $5 per gallon before easing, has been voters’ chief concern. For months, Manchin’s opposition to larger proposals has been partly premised on his worry that they would fuel inflation.

Besides inflation, the measure seemed to offer something for many Democratic voters.

It dangled tax hikes on the wealthy and big corporations and environmental initiatives for progressives. And Manchin, an advocate for the fossil fuels his state produces, said the bill would invest in technologies for carbon-based and clean energy while also reducing methane and carbon emissions.

“Rather than risking more inflation with trillions in new spending, this bill will cut the inflation taxes Americans are paying, lower the cost of health insurance and prescription drugs, and ensure our country invests in the energy security and climate change solutions we need to remain a global superpower through innovation rather than elimination,” Manchin said.

Schumer called the bill Congress’ “greatest pro-climate legislation.” He said it would also cut pharmaceutical prices and “ensure the wealthiest corporations and individuals pay their fair share in taxes.”

The measure would reduce carbon emissions by around 40% by 2030, Schumer and Manchin said. While that would miss Biden’s 50% goal, that reduction, the measure’s climate spending and the jobs it would create are “a big deal,” said Sen. Jeff Merkley, D-Ore., an environmental advocate who had been upset with the absence of those provisions until now.

The overall proposal is far less aspirational than the $3.5 trillion package Biden asked Democrats to push through Congress last year, and the pared-down, roughly $2 trillion version the House approved last November after Manchin insisted on shrinking it. Even then, Manchin shot down that smaller measure the following month, asserting it would fuel inflation and was loaded with budget gimmicks.

In summaries that provided scant detail, Democrats said their proposal would raise $739 billion over the decade in new revenue, including $313 billion from a 15% corporate minimum tax. They said that would affect around 200 of the country’s largest corporations, with profits exceeding $1 billion, that currently pay under the current 21% corporate rate.

The agreement also contains $288 billion the government would save from curbing pharmaceutical prices. Those provisions would also require Medicare to begin negotiating prices on a modest number of drugs, pay rebates to Medicare if their price increases exceed inflation and limit that program’s beneficiaries to $2,000 annual out-of-pocket expenses.

The deal also claims to gain $124 billion from beefing up IRS tax enforcement, and $14 billion from taxing some “carried interest” profits earned by partners in entities like private equity or hedge funds.

The measure would spend $369 billion on energy and climate change initiatives. These include consumer tax credits and rebates for buying clean-energy vehicles and encouraging home energy efficiency; tax credits for solar panel manufacturers; $30 billion in grants and loans for utilities and states to gradually convert to clean energy; and $27 billion to reduce emissions, especially in lower-income areas.

It would also aim $64 billion at extending federal subsidies for three more years for some people buying private health insurance. Those subsidies, which lower people’s premiums, would otherwise expire at year’s end.

That would leave $306 billion for debt reduction, an effort Manchin has demanded. While a substantial sum, that’s a small fraction of the trillions in cumulative deficits the government is projected to amass over the coming decade.

Sen. Kyrsten Sinema, D-Ariz., was still reviewing the agreement, said spokeswoman Hannah Hurley. Sinema backed Manchin last year in insisting on making the legislation less expensive but objected to proposals to raise tax rates, and the spokeswoman referred a reporter to her comments last year supporting a corporate minimum tax.

Sen. John Cornyn, R-Texas, said the Democratic agreement would be “devastating to American families and small businesses. Raising taxes on job creators, crushing energy producers with new regulations, and stifling innovators looking for new cures will only make this recession worse, not better.”

But if Democrats can hold their troops together, GOP opposition would not matter. Democrats can prevail if they lose no more than four votes in the House and remain solidly united in the 50-50 Senate, where Vice President Kamala Harris can cast the tie-breaking vote.

“This agreement is a victory for America’s families and for protecting our planet,” said House Speaker Nancy Pelosi, D-Calif. “In light of the discussions of the past year, this agreement is a remarkable achievement.”

The bill lacks increased tax deductions for state and local taxes, which some Democrats from high-tax states have demanded as the price for their support. A spokesperson for Rep. Josh Gottheimer, D-N.J., a leader of that group, did not immediately return a message seeking comment.

In the Senate, Democrats are using a special process that will let them pass the bill without reaching the 60 votes required for most legislation there. To use that, the chamber’s parliamentarian must verify that the bill doesn’t violate the chamber’s budget procedures, a review now underway.

Schumer and Manchin said leaders committed to revamp permitting procedures this fall to help infrastructure like pipelines and export facilities “be efficiently and responsibly built to deliver energy safely around the country and to our allies.”

Sierra Club Legislative Director Melinda Pierce said her group wanted to read the agreement’s details but was glad Biden and Schumer “remained resolute in finding a path to pass once-in-a-generation investments in our communities, our economy, and our future.”

Manchin just last week said he would only agree to far more limited legislation this month on prescription drugs and health care subsidies. He said he was open to considering a broader compromise on environment and tax issues after Congress returned from a summer recess in September, an offer that many Democrats considered dubious because of lawmakers’ abbreviated pre-election schedule.

___

AP reporters Matthew Daly, Will Weissert, Kevin Freking and Seung Min Kim contributed to this report.

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Japan rebounds in economic growth as coronavirus fears fade

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TOKYO — The restaurants are full. Shopping centers are teeming. People travel. And Japan’s economy has started to grow again as consumers, weary of more than two years of the pandemic, have moved away from the precautions that have kept coronavirus infections among the lowest levels of any wealthy country.

Lockdowns in China, soaring inflation and brutally high energy prices failed to curb Japan’s economic expansion as domestic consumption of goods and services soared in the second quarter of the year. The country’s economy, the third-largest after the United States and China, grew at an annualized rate of 2.2% during that period, government data showed Monday.

The second quarter result follows 0% growth – revised from an initial reading of a 1% decline – in the first three months of the year, when consumers retreated to their homes in the face of the rapid spread of the Omicron variant.

After that first Omicron wave dried up, domestic shoppers and travelers returned to the streets. The number of cases then quickly returned to record highs for Japan, but this time the public – highly vaccinated and tired of restraint – reacted with less fear, said Izumi Devalier, head of Japan’s economy at Bank of America.

“After the Omicron wave ended, we had a really nice increase in mobility, a lot of catch-up spending in categories like dining and travel,” she said.

The new growth report indicates that the Japanese economy could finally get back on track after more than two years of yo-yoing between growth and contraction. Yet the country remains an economic “lag” compared to other wealthy countries, Ms Devalier said, adding that consumers, especially the elderly, “are still sensitive to the risks of Covid”.

As this sensitivity has slowly diminished over time, she said, “we’ve had this very gradual recovery and normalization since Covid.”

The second-quarter growth came despite headwinds, especially for Japan’s small and medium-sized businesses. Covid lockdowns in China have made it difficult for retailers to stock in-demand products like air conditioners, and for manufacturers to source some critical components for their products.

A weak yen and higher inflation also weighed on businesses. Over the past year, the Japanese currency has lost more than 20% of its value against the dollar. While this has been good for exporters – whose products have become cheaper for overseas customers – it has driven up the prices of imports, which have already become more expensive due to shortages and supply chain disruptions. caused by the pandemic and Russia’s war in Ukraine.

While inflation in Japan – at around 2% in June – is still well below that of many other countries, it has forced some companies to raise prices dramatically for the first time in years, which could dampen demand. consumers accustomed to paying the same amounts year after year.

Japan faces other challenges, both at home and abroad. Small and medium-sized businesses in particular are likely to struggle as pandemic subsidies come to an end and foot traffic to their businesses remains below pre-pandemic levels.

Additionally, geopolitical tensions are creating greater uncertainty for Japan’s key industries. Friction between the United States and China over President Nancy Pelosi’s visit to Taiwan this month has raised concerns among Japanese policymakers about possible trade disruptions. Taiwan is Japan’s fourth-largest trading partner and a key producer of semiconductors, essential components for Japan’s major automotive and electronics industries.

As for Japan’s overall economic outlook, “in the short term the momentum is quite good, but beyond that we’re actually quite cautious,” Devalier said.

At home, she expects consumption to slow as people adjust to the new normal of living with the pandemic and their enthusiasm to spend wanes. Wage growth, which has been stagnant for years, is below inflation, which should affect spending. And, she said, “for manufacturing and exports, we expect slower momentum reflecting the fact that we expect weaker global growth.”

Even under ideal conditions, Japan’s domestic consumption is at least a year away from returning to pre-pandemic levels, said Shinichiro Kobayashi, senior economist at Mitsubishi UFJ Research and Consulting.

“Next year we should be in a situation where there is no need to worry about Covid infections and there are no restrictions on economic activity,” he said.

By then, he said, Japan will most likely have eased restrictions on tourism and business travel from overseas, which has further weighed on its economic performance.

But with Omicron cases continuing to rise, a full return to normal life this year is “impossible”, he said.

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Erik ten Hag orders Manchester United stars to undergo extra training after Brentford humiliation as ex-Chelsea star admits he mocked Christian Eriksen’s decision

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Erik Ten Hag Orders Manchester United Stars To Undergo Extra Training After Brentford Humiliation As Ex-Chelsea Star Admits He Mocked Christian Eriksen'S Decision

Manchester United players had their day off canceled by Erik ten Hag following a humiliating loss to Brentford.

The Dutchman was furious with his side’s performance in the 4-0 loss which left the Red Devils bottom of the Premier League table after two games.

AFP

Ten Hag called his players for extra training

It was a nerve-wracking experience for the Man United players, who reportedly felt the ex-Ajax boss’ wrath in the dressing room at half-time in the defeat.

Ten Hag and scores of stars including Cristiano Ronaldo, David de Gea, Marcus Rashford, Jadon Sancho and Bruno Fernandes have been criticized for the result as a former top club’s decline continues.

But, in an attempt to immediately right the wrongs of Saturday night, their new manager halted plans for a Sunday off and called in his stars for extra practice, according to the Times.

Although the club would have returned to Manchester late last night, Ten Hag was back in his office early this morning before his players arrived.

But former Premier League striker Tony Cascarino believes Ten Hag’s decision to change his goal kicking style during the Brentford game was inane.

He told the Weekend Sports Breakfast: “I get frustrated when I hear about a certain style of play because if the team you’re playing against is good at stopping you, don’t try to stop it.

No Man United Player Came Out Of The Game Well And Their Day Off Was Canceled

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No Man United player came out of the game well and their day off was canceled


“Man City can do it and Liverpool can do it, because their players are much more capable. Alisson sometimes, with me as a Liverpool fan, my heart is in my hands thinking, ‘wow, what the hell? what are you trying to do there?’

“But there are very few teams in the world that can play that way and get away with it. Barcelona could and have done for years, the Real Madrid midfielder can have the ball in almost any position because they are all so experienced and so good with the ball.

“The counter-argument to that, if you’re supposed to do that, and that’s the idea, you just keep doing it, well, why in the second half did they throw the long ball almost every time.

“If you’re supposed to play this way, why did you take a different attitude in the second half? If you’re supposed to play that way, you stick with that idea, but they can’t, they’ll be beaten badly every week if that’s the case.

Not only that, Cascarino revealed he was laughing at a role switch for summer signing Christian Eriksen.

Eriksen Played Different Roles In His Two Games For Man United

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Eriksen played different roles in his two games for Man United

The Dane, who arrived on a free transfer after six months with United winners Brentford, played a false nine role in the opening weekend defeat to Brighton before playing as a deep midfielder against his former club.

Eriksen then erred for the second goal as part of his goal kick tactic.

And Cascarino, when asked what he thought of the role change, replied: “Well, I laughed.

“He went from centre-forward last week to starting midfield this week. He’s the coach for me.

Eriksen Made A Mistake In The Build-Up To Brentford's Second Goal

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Eriksen made a mistake in the build-up to Brentford’s second goal

“I watched Eriksen for 10 years, I saw him against the Republic of Ireland in an international match and he ruined us.

“I watched him for Brentford, Tottenham and other clubs and thought ‘what is his best position?’ It’s like a midfielder who takes the ball and he’s always looking for space.

“You can sometimes play him deeper because he can pick up the ball and use it, but I prefer him to create and shake things up in the forward areas.”

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Countries urge Russia to withdraw troops from Ukraine nuclear power plant

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Countries Urge Russia To Withdraw Troops From Ukraine Nuclear Power Plant

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Dozens of countries, including the United States, Japan, the United Kingdom and Turkey, called on Russia to withdraw its troops from Ukraine’s nuclear power plant in Zaporizhzhia and surrounding areas in a joint statement on Sunday.

“We urge the Russian Federation to immediately withdraw its military forces and all other [unauthorized] personnel of the Zaporizhzhia nuclear power plant, its immediate surroundings and all of Ukraine so that the operator and the Ukrainian authorities can resume their sovereign responsibilities,” the countries said.

Ukraine and Russia have each pointed to the bombing of the facility, which is Europe’s largest nuclear power plant.

FILE PHOTO: Six power units generate 40-42 billion kWh of electricity, making the Zaporizhzhia nuclear power plant the largest nuclear power plant not only in Ukraine but also in Europe, Enerhodar, Zaporizhzhia region, in the south -eastern Ukraine.
(Photo credit should read Dmytro Smolyenko/Future Publishing via Getty Images)

Communication lines, radiation monitoring sensors, a nitrogen-oxygen station and other parts of the plant have been damaged by explosions in recent days.

RUSSIAN OFFICIALS INSIST ‘ACCIDENTAL’ AIR BASE EXPLOSIONS, SATELLITE IMAGES SHOW NEARLY IDENTICAL CRATER

Ukrainian President Volodymyr Zelenskyy accused Russia of “trying to intimidate people in an extremely cynical way”.

“Every Russian soldier who either shoots at the factory, or shoots using the factory as a cover, must understand that he becomes a special target for our intelligence agents, for our special services, for our army,” he said. he said Saturday night. He called the tactic “nuclear blackmail”.

Mykhailo Podolyak, an adviser to Zelenskyy, said Russian forces were targeting the part of the plant “where the energy supply [the] southern Ukraine is stored.

A Russian Serviceman Stands Guard In The Territory Outside The Second Reactor Of The Zaporizhzhia Nuclear Power Plant In Energodar On May 1, 2022.

A Russian serviceman stands guard in the territory outside the second reactor of the Zaporizhzhia nuclear power plant in Energodar on May 1, 2022.
(ANDREI BORODULINE/AFP via Getty Images)

Ukrainian nuclear company Energoatom said on Sunday that a plant worker was killed by Russian bombing near his home in Enerhodar.

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Russian forces have controlled the plant since early March, but Ukrainian personnel continued operations, according to the International Atomic Energy Agency.

“Any military action that jeopardizes nuclear safety, nuclear security, must cease immediately,” IAEA Director General Rafael Mariano Grossi said this week. “These military actions in the vicinity of such an important nuclear facility could have very serious consequences.”

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Chicago White Sox move 3 games over .500 for the 1st time since April 17 after sweeping the Detroit Tigers

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Chicago White Sox Move 3 Games Over .500 For The 1St Time Since April 17 After Sweeping The Detroit Tigers

The Chicago White Sox were in third place in the American League Central when they began a stretch of 19 straight games against sub-.500 teams July 26 in Colorado.

The Sox trailed the division leaders, at that time the Minnesota Twins, by four games and were 48-48.

The string wrapped up Sunday, and while they didn’t take full advantage by going on a tear, the Sox are tied for second in the Central with the Twins — 2½ games behind the first-place Cleveland Guardians — after defeating the Detroit Tigers 5-3 in front of 32,154 at Guaranteed Rate Field.

The Sox completed a three-game sweep of the Tigers and are three games over .500 (59-56) for the first time since they were 6-3 on April 17.

“It was a good sweep for us,” Sox starter Lance Lynn said. “We have to start winning games, we have to start winning series and then we can sweep the team, especially with the team coming in (the Houston Astros). Hopefully we can keep riding high.

“We have a good team coming in this week, so we have to keep playing good baseball.”

The Sox went 11-8 against the Colorado Rockies (1-1), Oakland Athletics (2-1), Kansas City Royals (3-4), Texas Rangers (2-2) and Tigers (3-0). With Sunday’s win, the Sox swept a home series for the first time this season.

“We got results for our effort,” Sox manager Tony La Russa said of the series. “There are times it’s been frustrating because the ball has been hit hard, but we hung with it. We hang with it very well. Hopefully we get rewarded.”

There were some injury hurdles during the 19-game stretch. The Sox lost shortstop Tim Anderson for about six weeks with a sagittal band tear on his left middle finger and played the final two games of the Tigers series without center fielder Luis Robert, who left Friday’s game with a sprained left wrist.

“He’s improved,” La Russa said of Robert. “And we just have to wait until Monday to see. He feels better. He did more work with it. If it’s not (Monday), it should be soon after.”

AJ Pollock, inserted in the leadoff spot with Anderson out and playing center field with Robert sidelined, got the offense rolling with a solo homer in the third to cut a deficit to 2-1.

“You look at his credentials,” La Russa said of Pollock. “He’s a quality big-league hitter and big-league defender. He saw the need when Tim was missing. If he had to hit second, third or fourth, he’d do that too.”

Pollock doubled leading off the fifth and scored the tying run on a double by Eloy Jiménez. José Abreu singled, giving the Sox runners on the corners with one out.

Tigers starter Tyler Alexander appeared to get out of the inning when Andrew Vaughn hit a grounder to short. Vaughn tossed his helmet after crossing first base, thinking the Tigers completed an inning-ending double play.

“I was running as fast as I could,” Vaughn said. “Just trying to beat it out and didn’t think I did.”

But Kody Clemens didn’t hold on to Willi Castro’s throw to first. Jiménez scored on the play, putting the Sox ahead 3-2.

Vaughn added a solo home run as part of a two-run eighth.

In addition to the timely offense, the Sox got solid pitching from Lynn, Jimmy Lambert, Jake Diekman and Kendall Graveman.

Lynn allowed two runs on five hits with seven strikeouts in six innings.

“We won the game, so that’s all that matters,” he said.

He kept the focus on the offense.

“Offense keeps doing their thing,” Lynn said. “Starting to put some things together, especially with runners in scoring position, and getting that big hit. It’s part of the gig. We just have to keep going and hopefully make a run at this.

“We have a tough opponent this week. They are a playoff team and we just have to go in and keep putting quality at-bats and make quality pitches and see what happens.”

Vaughn referenced starting pitcher Johnny Cueto’s “we need to show the fire that we have — if we have any,” statement Wednesday in Kansas City while assessing the weekend for the Sox.

“Johnny said it best: ‘I want some more fire,’” Vaughn said. “We got some fire. It was good.”

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Japan Q2 GDP 0.5% q/q (expected 0.7%)

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Japan Q2 Gdp 0.5% Q/Q (Expected 0.7%)

Japan’s economic growth data from April to June 2022.

This ForexLive Snapshot economic data

Economic data

Economic data usually comes in the form of daily press releases. This information is extremely valuable for retail and institutional traders, given the influence of this data on exchange rates. Most major economic events published are reported by sovereign governments around the world. Moreover, several economic data points are released by private organizations which can also move the market. Overall, when new information becomes available, the value of a currency pair changes to reflect a new equilibrium potentially created by traders. This information that changes the value of a currency pair can ultimately take many forms, with economic indicators or data being the primary drivers. Why Economic Data Matters in Forex Economic data is an important barometer that investors can use to measure the performance of an economy. This in turn can influence exchange rates. For example, the stronger the economic data, the more growth is likely to increase in the country, causing a currency to strengthen. If the gross domestic product (GDP) growth in the United States is high, it will help drive up the US dollar. The reverse is also true. Generally, weaker economic data can predict slower growth. The attempt of traders, when trading economic data, is to gauge how economic indicators are perceived against expectations. Before almost every economic release, the market typically assesses the median expectation reflected by analysts and economists. These known variables are simply expectations, and the unknown is the actual version. Since currency pairs can move significantly based on new data, traders always try to anticipate where the actual numbers will arrive when they come out. Changes to economic data will also filter out potential interest rate changes by a central bank. Overall, economic announcements from the United States and the Eurozone are highly watched as they will influence the perceptions of market participants who help guide interest rates and other monetary policies of the Federal Reserve or the European Central Bank (ECB) respectively.

Economic data usually comes in the form of daily press releases. This information is extremely valuable for retail and institutional traders, given the influence of this data on exchange rates. Most major economic events published are reported by sovereign governments around the world. Moreover, several economic data points are released by private organizations which can also move the market. Overall, when new information becomes available, the value of a currency pair changes to reflect a new equilibrium potentially created by traders. This information that changes the value of a currency pair can ultimately take many forms, with economic indicators or data being the primary drivers. Why Economic Data Matters in Forex Economic data is an important barometer that investors can use to measure the performance of an economy. This in turn can influence exchange rates. For example, the stronger the economic data, the more growth is likely to increase in the country, causing a currency to strengthen. If the gross domestic product (GDP) growth in the United States is high, it will help drive up the US dollar. The reverse is also true. Generally, weaker economic data can predict slower growth. The attempt of traders, when trading economic data, is to gauge how economic indicators are perceived against expectations. Before almost every economic release, the market typically assesses the median expectation reflected by analysts and economists. These known variables are simply expectations, and the unknown is the actual version. Since currency pairs can move significantly based on new data, traders always try to anticipate where the actual numbers will arrive when they come out. Changes to economic data will also filter out potential interest rate changes by a central bank. Overall, economic announcements from the United States and the Eurozone are highly watched as they will influence the perceptions of market participants who help guide interest rates and other monetary policies of the Federal Reserve or the European Central Bank (ECB) respectively.
Read this term calendar, access it here.

The times in the leftmost column are GMT.

The numbers in the rightmost column are the “previous” result (previous month/quarter, as applicable). The number in the column next to that, where is a number, is the expected consensus median.

The real one is in the box drawn on the photo.

Note that the deflator is a inflation

Inflation

Inflation is defined as a quantitative measure of the rate at which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general price level where a given currency is effectively buying less than it has in previous periods. In terms of valuation of strength or currencies, and by extension foreign currencies, inflation or its measures are extremely influential. Inflation stems from the global creation of money. This money is measured by the level of the total money supply of a specific currency, for example the US dollar, which is constantly increasing. However, an increase in the money supply does not necessarily mean that there is inflation. What leads to inflation is a faster increase in the money supply relative to the wealth produced (measured with GDP). This thus generates pressure from demand on a supply that is not increasing at the same rate. The consumer price index then increases, generating inflation. How Does Inflation Affect Forex? The level of inflation has a direct impact on the exchange rate between two currencies on several levels. This includes purchasing power parity, which attempts to compare the different purchasing power of each country according to the general level of prices. By doing so, it helps to determine the country with the most expensive cost of living. The currency with the higher inflation rate consequently loses value and depreciates, while the currency with the lower inflation rate appreciates in the forex market. Interest rates are also impacted. Inflation rates that are too high push interest rates up, which has the effect of depreciating the currency on the exchange. Conversely, too low inflation (or deflation) pushes interest rates down, which has the effect of appreciating the currency on the foreign exchange market.

Inflation is defined as a quantitative measure of the rate at which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general price level where a given currency is effectively buying less than it has in previous periods. In terms of valuation of strength or currencies, and by extension foreign currencies, inflation or its measures are extremely influential. Inflation stems from the global creation of money. This money is measured by the level of the total money supply of a specific currency, for example the US dollar, which is constantly increasing. However, an increase in the money supply does not necessarily mean that there is inflation. What leads to inflation is a faster increase in the money supply relative to the wealth produced (measured with GDP). This thus generates pressure from demand on a supply that is not increasing at the same rate. The consumer price index then increases, generating inflation. How Does Inflation Affect Forex? The level of inflation has a direct impact on the exchange rate between two currencies on several levels. This includes purchasing power parity, which attempts to compare the different purchasing power of each country according to the general level of prices. By doing so, it helps to determine the country with the most expensive cost of living. The currency with the higher inflation rate consequently loses value and depreciates, while the currency with the lower inflation rate appreciates in the forex market. Interest rates are also impacted. Inflation rates that are too high push interest rates up, which has the effect of depreciating the currency on the exchange. Conversely, too low inflation (or deflation) pushes interest rates down, which has the effect of appreciating the currency on the foreign exchange market.
Read this term indicator. The negative result is his 6th consecutive fall.

After:

  • GDP growth q/q for the 3rd consecutive quarter
  • business capex +1.4% q/q, strongest growth since Q1 2020
  • exports +0.9% q/q, up for the third consecutive quarter
  • component of private consumption also up for 3 consecutive quarters

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Yankees bullpen recovers from recent struggles – The Denver Post

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Yankees Bullpen Recovers From Recent Struggles - The Denver Post

BOSTON — With Scott Effross making the save on Saturday night, the Yankees have recorded a 10-man save this season. That’s the most by any team in the majors and after Clay Holmes’ recent struggles, that leaves the Bombers looking for guys to finish games now.

“I mean, it will evolve. We’ll see,” Yankees manager Aaron Boone said ahead of Sunday night’s series finale against the Red Sox at Fenway Park. “I feel like we’ve got a handful of guys who can do that. It would probably be great to get to a point where we just say, okay, Clay, you’re back in there, bit imported.

“But I also feel like they’re all capable of getting back-end releases,” Boone added. “We want to put them in the best positions for them to be as successful as possible.”

Effross was effective in the Yankees’ 3-2 victory on Saturday night. Lou Trivino has closing experience and Boone said Wandy Peralta would be an option.

Aroldis Chapman has made nine consecutive scoreless appearances after a struggling season and a half. The 34-year-old has been used with great care since returning from the injured list, where he spent six weeks with an Achilles problem and worked to sort out his labour.

“He could be,” Boone said of Chapman.

Jonathan Loaisiga, who made five saves last season when Chapman struggled, has been inconsistent this season. Their most reliable relievers aren’t there right now. Michael King is out for the season after fracturing his elbow and Ron Marinaccio, who had gained Boone’s trust for high-leverage innings, is in Triple-A due to a roster crunch.

“They all can be. They’re all in play. They’re all in play, depending on where we are on any given night, their availability, and our position in the lineup,” Boone said. “We’re just going to kind of figure it out.”

Since the All-Star break, the Yankees have taken the lead seven times, just behind the Rockies in the majors. Prior to the All-Star break, the Bombers were tied with the Braves for fewest (11) in the major leagues.

SEATED HICKS

After going 0-for-4 with three strikeouts Saturday night, Aaron Hicks wasn’t in the lineup Sunday night. The switch-hitting center fielder has struggled to get power this season and his last month has been particularly tough. Over the past 28 days, Hicks has hit .184/.296/.184 with a .480 OPS. His last extra-base hit came on July 9 at Fenway when he homered for only the sixth time this season.

“I know he did some things yesterday in his pre-game work to try to make some adjustments and find some things in terms of hands and pace. Yeah, it’s just something that’s been kind of a struggle all year for us, it’s that extra hit,” Boone said. “He drives the ball so well. He’s still working his way down the base, which is good. So we have to keep working to try to unlock a bit more.

Hicks, who is in the fourth year of a seven-year contract worth $70 million, hit 27 home runs in 2018. He’s struggling to find that form again. He’s also been hit hard by injuries, requiring Tommy John surgery in 2019 and then wrist surgery which cost him most of the 2021 season.

HELP IS COMING

Giancarlo Stanton is scheduled to do all pre-game practice with the team on Monday before playing against the Rays, which includes outfield balls and live batting practices, Boone said.

Stanton could play in minor league rehab games this week, Boone added.

The slugger has been on the disabled list since July 24 with left Achilles tendonitis.

The Yankees could use his bat. Stanton has 24 home runs and 61 RBIs, but was on four 0-for-10 games with seven strikeouts before moving to the IL.

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