Much to the dismay of Fed Chair Powell, US CPI is HOT. Headline CPI inflation increased 3.2% Y/Y, accelerating from 3.1% in January. After this data, Fed rate futures are pricing in only 1% odds of a rate cut at the next FOMC meeting. It also dents Biden’s re-election chances.
CreditorWatch has warned more businesses will go under in the coming months as cost pressures from interest rates, inflation, wages and labour shortages bite deeper with payment defaults hitting a record high in February.
Billionaires such as Clive Palmer and Mike Cannon-Brookes will have their influence on politics dramatically curtailed as Labor moves to remove big money donations in the biggest shake-up to Australian election rules in a generation.
Wealthier Australians will pay more for aged care under a long-awaited government review, which calls for retirees to make rental contributions instead of large lump sum deposits to live in nursing homes.
Opposition Leader Peter Dutton amplifies his case for nuclear to play a central role in Australia reducing its emissions.
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