Finance Latest News: Starbucks Hiking Prices Despite Lower Bean Costs

Starbucks wants a few extra pennies for that latte. The Seattle-based coffee company says it's hiking prices on average by 1 percent nationally starting on Tuesday. But it says the price for many drinks, such as medium and large brewed coffees and Frappuccinos, won't change in most its 11,000 U.S. cafes. A Federal Reserve voting member says the Fed's decision to announce details about when it would trim its bond-buying program was "inappropriately timed." St. Louis Federal Reserve Bank President James Bullard says the Fed should have waited for more "tangible signs" that the economy was strengthening and inflation was closer to the Fed's 2 percent target. U.S. stocks rose in morning trading on June 21th, as traders regrouped following the biggest drop of the year.
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