t least one Democrat isn’t giving President Joe Biden a free pass for overseeing the worst inflation in 40 years. Sen. Joe Manchin of West Virginia issued a scathing statement on the development on Tuesday, rejecting Biden’s attempts to invoke political excuses for the price squeezes on middle-class Americans. “Let me be clear, inflation is […]
Tag: inflation
Inflation hits a new 40-year high in March 8.5%
America’s inflation problem didn’t abate in March. Prices kept creeping up, hitting a fresh 40-year high, data from the Bureau of Labor Statistics showed Tuesday. The Consumer Price Index rose 8.5% for the year ended in March, not adjusted for seasonal swings. That outpaced February’s elevated reading of 7.9% and marked a level not seen […]
In economic views, Americans believe inflation outweighs jobs
This week’s positive jobs report and the stronger employment rate aren’t entirely lost on Americans — just outweighed when they rate the economy. Many do say the job market is good and that jobs have increased over the last year – but it’s still inflation driving views, and even those who say the job market […]
Biden’s student loan moratorium means higher inflation
President Biden still doesn’t get it. Pandering once again to restive progressives whom he desperately needs to come out and vote in November, Biden has extended the moratorium on student loan repayments through Aug. 31. This is bad policy and will make inflation worse. Inflation emerged in the U.S. last year because amid a fast-recovering […]
81% of adults in this survey believe a recession likely
After two years of the coronavirus pandemic, a recession and a rapid recovery, Americans are worried that the economy may swiftly decline once again. Some 81% of adults said they think the U.S. economy is likely to experience a recession in 2022, according to the CNBC + Acorns Invest in You survey, conducted by Momentive. […]
These entry-level workers earn six-figure salaries
Davis Nguyen specialises in helping college seniors begin a career in management consulting. It’s an industry that historically pays well: even before the pandemic, some of the biggest firms offered undergraduates salaries that often approached the six-figure mark. However, in the current market, Nguyen’s clients are doing particularly well. “They’ll come back and say ‘I […]
‘Coasting’ workers becoming prevalent
Edward’s usual workday begins at 0830. He showers, makes breakfast and grabs a coffee – all on company time. During the rest of his morning, the sales employee, who works remotely for a firm based in the north-east of England, periodically checks his inbox, attends the occasional meeting and watches YouTube. As lunch approaches, Edward […]
Biden’s new oil reserve plan falls drastically short
Oil prices are pulling back sharply as investors gear up for the White House to potentially unleash a record amount of crude from US reserves in a bid to ease pressure at the pump following Russia’s invasion of Ukraine. What’s happening: President Joe Biden is weighing a plan to release around 1 million barrels per […]
How low can Joe go? Biden’s job approval falls to lowest level of his presidency
Amid Europe’s largest land war since World War II, 7 in 10 Americans expressed low confidence in President Joe Biden’s ability to deal with Russia’s invasion of Ukraine in a new NBC News poll, and 8 in 10 voiced worry that the war will increase gas prices and possibly involve nuclear weapons. And during the […]
Food shortage risk is going to get “real” according to Biden
President Biden warned Thursday that there could be global food shortages resulting from the Russian invasion of Ukraine and announced steps to prevent a potential crisis. “We did talk about food shortages. And it’s going to be real. The price of these sanctions is not just imposed upon Russia, it’s imposed upon an awful lot […]
US food prices could blow sky-high on account of Russia / Ukraine war
As war continues to ravage Ukraine, Americans, particularly those who live paycheck to paycheck, are beginning to feel the financial squeeze on their food prices from the conflict half a world away. It began with a rapid rise in gas prices. Now, with Russian oil banned in the United States and energy scarcity heightened globally, […]
U.S. wholesale inflation surges again — prices are up 10% in the past year
Wholesale prices rose a sharp 0.8% in February and signaled that the hottest U.S. inflation in 40 years is unlikely to cool off in the spring. Wall Street economists had forecast a 0.9% increase. The increase in wholesale prices over the past year stayed at 10% for the second month in a row, the government […]