The Biden administration does not believe the U.S. is in a recession and is not preparing for one, according to White House officials, despite economic indicators suggesting a recession could be on the cards. White House Chief of Staff Ron Klain told MSNBC on Thursday that “we are not in a recession. I want to […]
Tag: inflation
Most American’s agree: Inflation is Joe’s fault
Forty-three percent of respondents said that Biden and his policies were significantly to blame for inflation, while 18 percent said the president was fairly to blame and 17 percent said he and his policies were slightly to blame. A further 23 percent said that the president was not at all to blame for inflation. When […]
Inflation Timebomb Poised to Explode Just Before the Holidays
After two difficult years for the global economy and in the midst of an energy crisis fueled by the Russian invasion of Ukraine, U.S. diesel inventories are currently “unacceptably low,” National Economic Council Director Brian Deese said on Bloomberg TV last week. This supply crunch is raising concerns among analysts and energy experts of an […]
Pelosi insists abortion is the big midterm issue
House Speaker Nancy Pelosi denied recent polling showing rising crime and rising prices are the top issues to voters this November — joining President Biden in trying to turn the focus to abortion rights. A New York Times-Siena College poll released Monday showed the economy and inflation were the most important issues to a combined […]
US recession forecast hits 100%
The US economy falling into recession within the next 12 months is a virtual certainty, according to the latest Bloomberg Economics forecast model released on Monday. The dire projection surfaced just weeks before national midterm elections that will determine control of Congress. Just one week ago, an embattled President Biden insisted a recession was unlikely […]
Halloween candy is up a scary 13% this year
Halloween candy is getting a little scarier this year – about 13% scarier. Those who prefer treat over trick will be paying 13.1% more than last year, according to the most recent inflation report from the Bureau of Labor Statistics. It’s the largest yearly jump in candy prices the CPI has ever recorded. (For comparison, […]
Higher Heating Bills will hit U.S. This Winter
High fuel prices have been a big driver of inflation, pumping up the cost of summer travel and air conditioning, and federal energy forecasters say that staying warm this winter will be more expensive as well. Americans should expect bigger home-heating bills compared with last winter, thanks to higher prices for natural gas, heating oil, […]
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, […]
The global economy is in chaos & the worst is yet to come
America is driving the West’s response to the war in Ukraine. But U.S. officials are struggling to project a global response to a worldwide economic slowdown. A sense of dread surrounded meetings of finance ministers and central bankers in Washington this week, amid one of the most foreboding moments for the world economy in years. […]
Inflation surges in September
Inflation ran hotter than expected in September as persistent prices continued to squeeze U.S. households and worsen a political headache for President Biden with just one month until midterm elections. The Labor Department said Thursday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose […]
Wholesale Prices Increase 8.5% in September
U.S. producer prices increased more than expected in September amid strong gains in the costs of services and goods, suggesting inflation could remain uncomfortably high for a while. The producer price index (PPI) for final demand rebounded 0.4% last month, the Labor Department said on Wednesday. Data for August was revised lower to show the […]
After 100 days of decline, gas prices are rising
It was the longest losing streak for gasoline prices since the early months of the pandemic: For 98-consecutive days this summer, American drivers experienced declining gas prices thanks in part to a slower worldwide demand for oil. Now, a cut in oil production signaled by the OPEC+ group last week has sent global crude prices […]