Here are 3 ways retirees may face higher prices amid rising inflation

MoMo Productions | Digital Vision | Getty Images Americans are spending hundreds of dollars more each month due to inflation. For those in their prime, this could mean trying to stretch an already tight retirement income. Consumer prices jumped 8.5% in March from a year ago, according to the US Department of Labor. This includes … Read more

Asian stocks mixed as investors react to Chinese economic data

SINGAPORE — Asian markets struggled to orient themselves on Monday as investors reacted to the release of Chinese economic data, including first-quarter gross domestic product figures. In Japan, the Nikkei 225 fell 1.08% to close at 26,799.71 as shares of Fast Retailing fell 1.25%. The Topix index lost 0.86% to 1,880.08. Mainland China shares closed … Read more

How Russia’s war is reducing global car production

Russia’s invasion of Ukraine has led auto industry watchers to cut their production and sales forecasts for the next two years. The crisis has closed factories in Eastern Europe and caused price spikes in already valuable raw materials. Some factories in Ukraine tried to continue despite the invasion. Workers should have stopped working to escape … Read more

US industrial production up sharply in March

Numbers: Industrial production jumped 0.9% in March, the Federal Reserve reported on Friday. The gain was well above Wall Street expectations of a 0.4% gain, according to a Wall Street Journal survey. Additionally, February’s gain has been revised up to 0.9% from the initial estimate of a 0.5% increase. For the first quarter as a … Read more

Recession ‘likeliest outcome’ for US economy, says Larry Summers

Former Treasury Secretary Larry Summers, whose non-consensus views on the risks of lingering inflation have come to fruition, reiterates his worries about a potential US slowdown: He now says a recession is “the likeliest thing “in part because the Federal Reserve “is going to have to continue [in its effort to subdue inflation] until we … Read more