Is President Joe Biden to blame for the nation’s skyrocketing inflation? With midterm races in full swing, Republican candidates are pointing a finger at the $1.9 trillion American Rescue Plan, which Biden spearheaded and Congress passed in March 2021 with no Republican votes. It was billed as the final steroid shot needed to propel the […]
Tag: inflation
Stocks post worst month in nearly 14 years as recession fears grow stronger
US stocks plunged on Friday, with the Nasdaq marking its worst month since October 2008 and the S&P notching its worst month since March 2020 at the onset of the Covid pandemic. The tech-heavy Nasdaq fell 4.2% on Friday, dragged down by Amazon (AMZN), which dropped nearly 15% after it missed earnings expectations. The S&P […]
As recession fears mount, the Fed’s favorite inflation measure just hit a fresh 40-year high
Americans had to reach deeper into their pockets in March, as yet another key inflation index showed prices hit a fresh 40-year high. The Personal Consumption Expenditures price index increased by 6.6% for the year ended in March, the Commerce Department reported Friday. It was the highest rate since the period ended January 1982, outpacing […]
Student Loan Forgiveness Coming ‘Soon’ says President Biden
President Joe Biden has indicated that he may take action to cancel up to $10,000 of student debt per borrower “soon” in a meeting with Democratic Representative Tony Cardenas. Canceling some student debt could provide Democrats with a boost in the upcoming midterm elections where the party is facing potential defeat. Republicans have come out […]
US economy shrank 1.4% in 1st quarter of 2022; worst performance in 2 years
The U.S. economy cooled markedly in the first three months of the year, as snarled supply chains, record-high inflation and labor shortages weighed on growth and slowed the pandemic recovery. Gross domestic product, the broadest measure of goods and services produced across the economy, shrank by 1.4% on an annualized basis in the three-month period […]
Democratic socialist congressional candidate says $15 minimum wage is not enough, ‘$30 is the floor’
A Democratic socialist candidate for Congress in Washington State is proposing a $30 minimum wage, saying that the current push for a $15 minimum wage is an “antiquated demand.” Rebecca Parson, who’s running for Congress in Washington’s 6th district, tweeted on April 21 that the minimum wage should be increased to $30. “$15 minimum wage […]
Biden ripped by Hispanic voters over immigration, economy: ‘Latino values are Republican values’
Talks of November’s midterms plague the political realm as President Joe Biden’s poll numbers continue to slip among key demographics – including Latinos and young Americans. While the partisan blame for an escalating border crisis, soaring inflation and a siege against family values raged on, “Fox & Friends Weekend” co-host Rachel Campos-Duffy sat down with […]
Rents are rising everywhere. Can we afford them much longer?
Rents continue to rise at the fastest pace in decades, making housing costlier than ever for many Americans. Nationally, rents rose a record 11.3 percent last year, according to real estate research firm CoStar Group. That fast pace of growth remained elevated in the first months of 2022, as many parts of the country continued […]
Is the US economy already in a recession? ‘Probably’ says market expert
During an interview on “Mornings with Maria” market expert Mark Yusko argued the U.S. economy is “probably” already in a recession, and that government spending and money printing created the inflation Americans are experiencing today. MARK YUSKO: “The Fed is in a box. They are powerless against the two things that they fear most. One, […]
For the 1st time in 10 years, Netflix has lost viewers, stock tanks, says password sharing is to blame
Netflix has lost 200,000 U.S. subscribers in the first quarter of 2022, marking its first drop in customers in more than a decade, the company announced Tuesday. It attributed the losses to factors such as stronger competition, the Ukraine-Russia conflict and password sharing. In a letter to shareholders, the entertainment company said it relied on […]
Most of today’s renters believe they will never own a home as prices keep rising
Faced with a white-hot real estate market, renters are losing confidence they will ever own a home. On average only 43.3% of renters expect to own a home at some point in the future, down sharply from 51.6% in 2021, according to a Federal Reserve Bank of New York survey released on Monday. High prices […]
Green-Energy Inflation is on the way
If you think inflation is bad, wait until the rest of the commodity markets really heat up. Although prices for basic materials like copper, aluminum, nickel and steel—used to build everything—have already inflated, they haven’t yet escalated as much as fuels and energy-driven commodities like food. But they will if European and U.S. policy makers […]