US economy in recovery mode

Published

4 years ago

August 12, 2022

There are clear signs that inflation is easing across the country but the Federal Reserve says it will continue to raise interest rates until it hits a target of 2%

Is inflation in the US slowing down?

The lastest reports released by the US government showed that consumer prices did not rise icompared to the previous month.

But the inflation rate is still a lot higher than the Fed’s goal.

Minneapolis Federal Reserve Bank President Neel Kashkari, said that the consumer price index report was “welcome” news, but the Fed is “far, far away from declaring victory” on inflation.

Kashkari also said that he hasn’t found a reason for the Fed to increase its policy rate to 3.9% by the end of the year and to 4.4% by the end of 2023.

The rate is currently in the 2.25% to 2.5% range.

The dollar also fell broadly following the U.S. inflation report for July.

And despite Kashkari’s statement, many are still wondering whether the latest figures will be enough to stop the Federal Reserve from an aggressive interest rate hike.

These developments were welcomed by consumers,

In particular good news came as the average price of US retail gasoline fell below $4 dollars per gallon for the first time in months.

According to Reuters, many economists believe, less policy tightening would be enough to bring prices under better control.

Nonetheless, there are clear signs the economy is improving and this has provided relief for the wider public.

Australia issues evacuation advisory for diplomats and citizens in the Middle East

Australian diplomats’ families in Israel and Lebanon urged to evacuate amid rising tensions; all Australians advised to leave soon.

Published

5 hours ago

February 26, 2026

Harvey Vargas

Australian diplomats’ families in Israel and Lebanon urged to evacuate amid rising tensions; all Australians advised to leave soon.

Families of Australian diplomats in Israel and Lebanon have been ordered to evacuate as tensions in the region continue to rise. The government is prioritising the safety of its personnel and their families.

All other Australians have been urged to leave while commercial flights and other travel options are still available. Authorities are emphasising the importance of acting quickly before options become limited.

The Department of Foreign Affairs and Trade has warned that the security situation in the Middle East remains unpredictable and volatile.

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News

Trump signals possible action on Iran nuclear threat

Trump warns Iran on nuclear weapons and highlights threats, as US boosts military presence amid stalled talks.

Published

5 hours ago

February 26, 2026

Harvey Vargas

Trump warns Iran on nuclear weapons and highlights threats, as the US boosts military presence amid stalled talks.

President Donald Trump laid out a strong warning to Iran during his State of the Union address. He labelled Tehran as the world’s biggest sponsor of terrorism and signalled that the U.S. might take action if Iran continues its nuclear ambitions.

Trump emphasised that Iran’s missile and nuclear programs, along with its backing of militant groups, pose serious threats to regional stability.

This comes amid growing concerns over Iran’s nuclear developments and the stalled diplomatic efforts to curb them.

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News

Qantas announces 8,500 jobs and frequent flyer changes

Qantas announces 8500 new jobs and frequent flyer program revamp after record half-year profit of $1.46 billion

Published

6 hours ago

February 26, 2026

Ahron Young

Qantas announces 8500 new jobs and frequent flyer program revamp after record half-year profit of $1.46 billion

In Short:
– Qantas reported a $1.46 billion half-year profit, planning to create 8,500 jobs by 2030.
– Frequent Flyer program changes include earning status credits on the ground and rolling over excess credits.

The Qantas Group reported a record half-year profit of $1.46 billion for the first half of the 2026 financial year, an increase of $71 million compared to the previous period. The airline plans to create 8,500 jobs by 2030 and re-establish a cabin crew base in Singapore, along with new initiatives for frequent flyers.Statutory profit after tax rose to $925 million, allowing shareholders to receive a fully franked dividend of 19.8 cents per share.

The current underlying profit surpasses the record set in 2023 under former CEO Alan Joyce. Chief executive Vanessa Hudson highlighted a commitment to customer, employee, and shareholder satisfaction while emphasizing ongoing investments in fleet renewal.

As Qantas adds new aircraft to its fleet, it anticipates the creation of jobs, including 3,500 additional cabin crew and 1,000 pilots.

A new Jetstar cabin crew base will open in Perth later this year, generating 90 roles, while Singapore is expected to accommodate 400 cabin crew members.

Qantas CEo Vanessa Hudson.

Frequent Flyer Changes

Qantas will implement significant changes to its Frequent Flyer program. Members can now earn status credits on the ground through credit cards and program partners.

They will also have the option to rollover up to 50% of excess status credits from one year to the next.

Hudson stated the overhaul aims to enhance flexibility and recognition for members amid a changing loyalty landscape.