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BREAKING
Sheikh Qassem: Our supporters make up more than half of Lebanon's population, and all of these people are united under the banner of protecting Lebanon, its Resistance, its people, and its integrity.
Sheikh Qassem: There will be no phased handing in of our arms. [The Israelis] must first enact the agreement before we start talking about a defensive strategy.
Sheikh Qassem: Be brave in the face of foreign pressures, and we will be by your side in this stance.
Sheikh Qassem: Stripping us of our arms is like stripping us of our very soul, and this will prompt us to show them our might.
Sheikh Qassem: We will not abandon our arms, for they gave us dignity; we will not abandon our arms, for they protect us against our enemy.
Sheikh Qassem: The US efforts we are seeing are aimed at sabotaging Lebanon and constitute a call for sedition.
Sheikh Qassem: If you truly want to establish sovereignty and work for Lebanon’s interests, then stop the aggression.
Sheikh Qassem: The United States, which is meddling in Lebanon, is not trustworthy but rather poses a danger to it.
Sheikh Qassem: The United States is preventing the weapons that protect the homeland.
Sheikh Qassem: The government’s latest decision [on the disarmament of the Resistance] is non-charter-based, and if the government continues down this path, it is not faithful to Lebanon’s sovereignty.

US prices rose 6.3% in May amid slower spending

  • By Al Mayadeen English
  • Source: Agencies
  • 30 Jun 2022 18:18
2 Min Read

This could be a sign that the Federal Reserve's interest rate plans are beginning to have an impact.

  • x
  • The PCE price index rose 6.3% compared to May 2021 (AP)
    The PCE price index rose 6.3% compared to May 2021 (AP)

US government data released on Thursday showed that price increases that had held steady in the past 12 months ended in May, while the rise in consumer spending slowed sharply.

This, according to some, may comfort consumers as a sign that the Federal Reserve's aggressive interest rate plans are beginning to have an effect in limiting the fastest uptick in inflation seen in more than four decades.

Compared to May 2021, the Personal Consumption Expenditures (PCE) price index rose 6.3%, the same pace as in the prior month, despite it rising 0.6% compared to April, according to the Commerce Department.

This monthly increase, which was faster than in the preceding month, was still below economist projections.

The PCE price index is the US Federal Reserve's preferred tool to gauge inflation, because it reflects the actual spending made by consumers, including their shifts to lower-cost items.

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With the exclusion of volatile food and energy prices, the PCE rose 0.3% in the preceding month, the same as in April. 

The IMF's Managing Director Kristalina Georgieva said that the IMF is aware that the path to avoiding a recession in the US is "narrowing."

"We are conscious that there is a narrowing path to avoiding a recession in the US. We also have to recognize the uncertainty of the current situation," Georgieva said. 

Read more: US Treasury Secretary admits failure to predict inflation risk

The IMF expects the US economy to slow down as Covid-19 takes its toll on the economy, in addition to the war in Ukraine which has resulted in global inflation and resource shortages.

Georgieva said the IMF is confident that the US Federal Reserve will succeed in curbing inflation.

  • Federal reserve
  • US
  • United States
  • US inflation

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