-President Joe Biden said on Thursday that his administration was involved in negotiations to avert a looming U.S. railroad strike that could shut down supply chains across the country but added that he has not directly engaged on the matter yet. Speaking to reporters outside a fire station on Nantucket Island, Massachusetts, during a Thanksgiving […]
Tag: economy
Dems to Biden,”Stop talking about the economy”
President Joe Biden is in a bind. He has no choice but to talk about the economy in the home stretch of the midterm elections – it’s the issue, given near 40-year high inflation and high gas prices, that worries voters most. But by doing so, he’s drawing attention to his own and Democrats’ biggest […]
Ice Cream eating Biden says economy is ‘strong as hell’
A day after President Joe Biden drew criticism from conservatives on social media for giving unsolicited dating advice to a young teen girl in California, the president is again in hot water for claiming the “economy is strong as hell.” The comment came during a conversation with a reporter at a Baskin Robbins in Portland, […]
European nations shifting right as economies fail
A handful of European nations are shifting to the political right as economic woes throttle the continent. “All eyes are on Rome right now,” an EU official recently told Reuters. Italy is just hours from what is expected to be a historic election on Sunday as voters head to the polls to elect a new […]
Fed raises interest rate .75%; will recession follow?
The Federal Reserve made history on Wednesday, approving a third consecutive 75-basis-point hike in an aggressive move to tackle the white-hot inflation that has been plaguing the US economy. The supersized hike, which was unfathomable by markets just months ago, takes the central bank’s benchmark lending rate to a new target range of 3%-3.25%. That’s […]
US jobs growth slows in August
US employers added 315,000 new jobs in August, far fewer than in July, as fears rise that the labour market is heading for a slowdown. The jobless rate rose to 3.7% from 3.5%, according to the figures from the US Labor Department. The report comes on the back of recent data which showed the world’s […]
GDP shrank in second quarter, signaling US recession
The U.S. economy shrank at slightly slower pace in the second quarter than previously reported, but continued to meet the criteria for a so-called technical recession as raging inflation and higher interest rates weighed on spending. Gross domestic product, the broadest measure of goods and services produced across the economy, shrank by 0.6% on an […]
Recession arrives as US economy shrinks again
The U.S. economy shrank in the spring for the second consecutive quarter, meeting the criteria for a so-called technical recession as raging inflation and higher interest rates forced consumers and businesses to pull back on spending. Gross domestic product, the broadest measure of goods and services produced across the economy, shrank by 0.9% on an […]
This week’s economic reports are ‘moment of truth’ for Biden
Every week is a tough week for this White House right now. But as he recovers from his Covid-19 infection, President Joe Biden faces a new moment of truth this week about an economy that is stuck in an identity crisis and buffeted by unpredictable outside forces — and his White House knows it, as […]
Trump says, Get ready for a depression
Former President Donald Trump has warned that the nation could enter an economic depression due to the fiscal policies of President Joe Biden. Trump made the remark during a “Save America” rally in Prescott Valley, Arizona, on Friday night. The former president said that the country’s highest inflation rate in decades could lead to a […]
Most Americans believe economy is now collapsing
More than half of Americans think the U.S. has already entered a recession, new polling shows. The latest IBD/TIPP Economic Optimism Index published on Friday found that 53 percent of Americans think the economy has gone into a recession, and 25 percent say they’re unsure. Only 20 percent believe the country is not in a […]
Biden says economy under Republican control of Congress – would be much worse.
With less than six months before the midterm congressional elections, Biden is talking about the economy – a lot. It is the top issue on voters’ minds and, worryingly for Democrats, one of the biggest political liabilities for the president and his party. In recent days, Biden has sought to tell a textured story about […]