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US inflation continues to slow, opening the door for Fed rate cuts.

Published

4 months ago

2024-07-11

Eric Thayer / Bloomberg via Getty Images file

(VOR News) – Considering that prices stopped rising more than expected in June, the inflation Federal Reserve may be able to lower interest rates.

These rates affect many financial goods, such as mortgages and credit card payments. We now have yet another sign that inflation has stopped.

There was a 3% year-over-year rise in the Consumer Price Index in June. This was less than the 3.3% annual rate seen in the previous month. Prices fell by 0.1% from May to June.

This is the first time the monthly number has dropped by a large amount since May 2020, when the epidemic was just starting.

There are more whispers that the Federal Reserve will lower interest rates in September after a report from the Bureau of Labor Statistics on Thursday.

Voters would feel a little better about this before the election in November, which both parties think could be affected by how people feel about the economy.

Before the report came out on Thursday, Federal Reserve Chair Jerome Powell spoke to Congress this week. Before he made any changes, he was aware of the risks that came with keeping interest rates high for a long time. He did say, though, that he wanted to get “more good data” on inflation.

The report that came out on Thursday and was surprisingly strong may be able to do this.

“Core” inflation between May and June.

Which doesn’t include changes in food and energy inflation prices, which rose by just 0.1%, which was the smallest monthly gain since January 2021.

The price of gas went down by 3.8% and the price of used cars went down by 1.5%. It was only a 0.2% rise in the cost of living in June, even though it has been a major cause of rising prices for several months.

At its annual meeting in Jackson Hole, Wyoming, in August, the Federal Reserve may hint at an upcoming policy change. This is true even though it is very unlikely that officials from the Federal Reserve will make any changes to the interest rate when they meet later this month.

The Federal Reserve has been under pressure to lower inflation and interest rates for a while now, even though the job market has been slowly getting worse. At 4.1%, the jobless rate is the highest it has been since the end of the epidemic.

This number hasn’t been seen since February 2018, except for when more jobs are expected to be lost in 2020.

Even though the jobless rate is still at an all-time low, the fact that it has been going up for three months in a row is causing more and more worry, even though many economists have been less worried about a recession since last year.

In a note posted on Substack last week, Guy Berger, director of economic research at the Burning Glass Institute (a research firm that studies how people can move up in the economy), said that the job market has been going down since the spring of 2022 without going into a recession.

“We’re not at the tipping point into recession yet, but I don’t have a lot of confidence about the distance from that tipping point.”

Interest rates are one way that the Federal Reserve can control the rate of inflation economic growth. The federal funds rate is about 5.5% right now, which is the highest it has been since before the 2008 financial crisis. By keeping interest rates high, the Federal Reserve has tried to lower the general demand for borrowing money to buy goods and services.

This has prevented prices from going up too much. In most cases, the higher rates have worked out correctly.

The inflation rate reached 9.1% in June 2022.

Since then, it has dropped significantly, but it has stayed around 3% throughout the year. Powell told Congress this week that people’s views about inflation are still “anchored,” which means there is only a small chance that prices will start to rise again. Furthermore, he said that “modest” work has been made toward the 2% goal.

Economists think that the fact that many customers’ financial situations have gotten worse since the start of the epidemic recovery is a big reason.

As the report is set to come out on Thursday, Sarah House, an economist at Wells Fargo, said in a note released this week that “increasingly cost-conscious consumers are also likely to limit the extent of price increases across the service sector.”

Reason for this is that it is getting harder to keep prices from going up because input costs, especially labor, are going up less quickly.

Some experts and lawmakers on the left say that the Federal Reserve has already put off lowering interest rates for too long. Ian Shepherdson, the Chief Economist at Pantheon Macroeconomics, warned in a recent report that the central bank “will be rushing to stop a major downturn.”

SOURCE | NBC

News

Trudeau Accused of Sowing Divisions Between Sikhs and Hindus

Published

3 days ago

2024-11-06

Geoff Thomas

Pierre Poilievre, the Conservative Leader, has accused Prime Minister Justin Trudeau of sowing “divisions” that culminated in the violent altercation between Sikh separatists and Hindu devotees outside a Hindu temple in Brampton, Ontario.

Justin Trudeau initiated the question period by condemning Poilievre’s reticence regarding the violence in South Asian communities as “deafening.”

Poilievre refuted the assertion by accusing Trudeau of exploiting the matter to divert attention from domestic economic concerns.

“Consequently, he implements divisions in his residence.” Poilievre stated, “These divisions are the consequence of his actions.”

“Currently, sectarian riots are occurring on the streets of Brampton.” This has never occurred before the tenure of this prime minister. Is he accountable for the divisions he has incited and the ensuing violence?

Trudeau Must Assume Responsibility

Mr. Pierre Poilievre, the Conservative Leader, requested that the Prime Minister assume responsibility for the divisions and violence in Canada. In response, Prime Minister Justin Trudeau addressed Poilievre’s refusal to obtain security clearance to review foreign interference documents.

Trudeau, who has frequently employed a phrase in the question period recently, urged Poilievre to undergo the security clearance procedure to receive a briefing from Canada’s intelligence and security agencies regarding potential threats to the country.

Trudeau’s remarks exacerbate an already precarious police situation, which has the potential to further deteriorate the diplomatic relationship between Canada and India.

Police dispersed a second day of demonstrations outside a Hindu temple in Brampton, Ontario, on Monday. The temple has been the site of violent clashes that have resulted in arrests and a public safety alert.

During the Indian consular officials’ visit to the Hindu Sabha Mandir temple in Brampton on Sunday at midday, violence erupted.

Peel Regional Police issued a public safety alert on Monday evening regarding the presence of weapons at a demonstration near a Hindu temple in Brampton, Ont. The demonstration had been the site of violent clashes between demonstrators the previous day.

Canada India Tensions

Social media videos depict demonstrators holding banners in support of Pro-Khalistan separatism, a proposed independent Sikh homeland in northern India, and engaging in physical altercations with other individuals, some of whom are holding India’s national flag.

Later, an off-duty Sergeant of the Peel police in Brampton, Ontario, was identified as one of the pro-Khalistan protesters.

In the interim, the violence prompted Indian Prime Minister Narendra Modi to make a rare comment during a period of escalating diplomatic tensions between the two countries.

“I unequivocally condemn the intentional destruction of a Hindu temple in Canada.” “The cowardly attempts to intimidate our diplomats are equally appalling,” he shared on social media.

No amount of violence will ever undermine India’s resolve. We anticipate that the Canadian government will maintain the rule of law and ensure justice.

Last September, Trudeau expressed that there were credible allegations that the Indian government was involved in the assassination of Sikh activist Hardeep Singh Nijjar in Canada, which marked the beginning of the deterioration of relations between the two countries. India has vigorously denied the charge.

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Police Officer Suspended for Joining Pro-Khalistan Protest

Published

3 days ago

2024-11-06

Geoff Thomas

A Brampton, Ontario, police officer was suspended on Monday following the viralization of a video on social media that showed him participating in a pro-Khalistan protest outside a Hindu temple.

According to CBC News, the suspended Peel Regional Police officer, Harinder Sohi, was videotaped brandishing a Khalistan flag while other participants in the protest chanted anti-India slogans. He was not wearing a police uniform.

Sohi served as a Sergeant for the Peel Regional Police.

In an email to CBC News, Media Relations Officer Richard Chin informed the organization that it is “aware of a video circulating on social media that depicts an off-duty Peel Police officer participating in a demonstration.”

“This officer has since been suspended in accordance with the Community Safety and Policing Act,” according to him.

“We are investigating the circumstances in totality depicted in the video and are unable to provide further information until this investigation is complete.”

Peel Regional Police have previously stated that three individuals have been charged in connection with the violence that occurred during the visit of Indian consular officials to the Hindu Sabha Mandir temple on Sunday.

Social media videos appear to depict demonstrators holding banners in support of Khalistan, a proposed independent Sikh homeland in northern India, and engaging in a physical altercation with other individuals, some of whom are holding India’s national flag.

The videos appear to depict fist battles and individuals striking each other with poles on the grounds outside the Hindu Sabha Mandir temple.

According to Peel police, the event was ultimately relocated to two additional locations in the neighboring city of Mississauga, where additional demonstrations were also conducted.

Peel police acknowledged the protest on Sunday at noon and announced that they had increased their presence at the Hindu Sabha Mandir temple to preserve public safety and order.

“We acknowledge the right to peacefully and safely protest; however, we will not tolerate criminal activities or violence,” stated Chief Nishan Duraiappah in response to the videos’ dissemination.

“Those that do participate in this activity will be pursued, arrested, and charged.”

The violence elicited condemnations from Canadian political leaders at all levels of government and also prompted Indian Prime Minister Narendra Modi to make a rare comment during a period of escalating diplomatic tensions between the two countries.

Prime Minister Narendra Modi expressed his concern regarding the “deliberate attack” and requested accountability from the Canadian government, which Justin Trudeau heads. He anticipated that the government would uphold the rule of law and ensure justice.

PM Modi expressed his strong condemnation of the deliberately targeted assault on a Hindu temple in Canada in a post on X. The contemptible endeavors to intimidate our diplomats are equally repulsive. No amount of violence will ever be able to undermine India’s resolve.

In the interim, the Minister of External Affairs (MEA) expressed its “profound concern” regarding the safety and security of Indian nationals in Canada, and it anticipates that those who engage in violence will be prosecuted.

The Hindu Sabha Temple in Brampton, Ontario, was the site of violent acts committed by separatists and extremists yesterday. We condemn these actions. “We urge the Canadian government to guarantee that all places of worship are safeguarded from such attacks,” stated Randhir Jaiswal, the spokesperson for the MEA.

India Slams Trudeau Over Pro-Khalistani Sikhs Attack

India Slams Trudeau Over Pro-Khalistani Sikhs Attacking Canadian Hindus

Geoff Thomas

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Pro-Khalistanis Sikhs Attack Hindu Temple in Brampton

Published

5 days ago

2024-11-04

Geoff Thomas

Pro-Khalistanis Sikhs, Hindu Temple, Brampton, Ontario

Pro-Khalistanis Sikhs attack Hindu Temple in Bramption Ontario.

Police in Brampton, Ontario, were summoned to the Hindu Temple after a group of pro-Khalistanis Sikhs attacked Hindu worshipers on Sunday. According to the Hindu Canadian Foundation, supporters of the Khalistaani movement in Canada helped to carry out the “attack.”

Following its posting on X, a video of the attack with demonstrators brandishing Khalistan flags at the Hindu Temple’s front entrance quickly became viral, inciting indignation among the Hindu community in Canada and India.

Chandra Arya, a Liberal MP from Canada, denounced the violence and claimed that under the country’s “freedom of expression,” extremists are getting away with it.

According to Arya, he began to think there might be some truth to the claims that Khalistanis have successfully infiltrated Canada’s law enforcement forces and political machinery.

Today, Canadian Khalistani fanatics have crossed a line. The attack by Khalistanis on Hindu-Canadian worshipers within the Hindu Sabha temple’s grounds demonstrates the extent and blatantness of Khalistani violent extremism in Canada.

In a post on X, he stated, “I start to believe that there is a sliver of truth in the reports that Khalistanis have successfully infiltrated not only our political apparatus but also our law enforcement agencies.”

It is understandable why Khalistani fanatics are receiving a free pass in Canada under the guise of “freedom of expression.” As I’ve been saying for a while, Hindu Canadians must stand up, defend their rights, and hold politicians responsible for the safety and security of our community,” he continued.

Peel Regional Police said they were aware of the demonstration in the city’s northeast and are investigating the situation.

The Canadian Charter of Rights and Freedoms states, “We respect the individual right to protest, but it is still our duty and responsibility to maintain public order and ensure everyone’s safety. ” Therefore, we request the public’s help participating in and supporting a nonviolent and legal protest.

Peel police warned that any acts of violence, threats of violence, or vandalism would be looked into and said they would be more visible and present to keep an eye on the situation.

Taking his X account, Brampton Mayor Patrick Brown also conveyed his dissatisfaction after learning of the “acts of violence” outside the Hindu Sabha.

“In Canada, religious freedom is a fundamental virtue. In their house of worship, everyone ought to feel secure. Brown stated in his letter that he is “completely confident that Peel police will do everything in their authority to keep the peace and hold those accountable who commit acts of violence.” “I strongly condemn any acts of violence outside of a place of worship,” Brown added.

“The violence at the Hindu Sabha Mandir in Brampton was unacceptable,” Canadian Prime Minister Justin Trudeau also posted on X.

Every Canadian has the right to freely and securely follow their religion. “Swiftly responding to protect the community and investigate this incident” was how he praised the cops.

As Ottawa frequently rejected New Delhi’s demands for tough measures against Khalistani radicals in Canada, the incident took place during a time of poor relations between India and Canada. Instead, it sparked a huge diplomatic dispute by accusing India of targeting Khalistani people inside its borders.