Virus resurgence menaces economy just as rescue programs unravel

24th July 2021

Biden — whose Gallup approval rating dropped to 50 percent this week, its lowest yet — is already drawing attacks from Republicans over the issue. Rep. Kevin Brady of Texas, the top GOP tax writer in Congress, said the president has focused too much on pushing his “$4 trillion spending binge” and not enough on […]

Read More

The pandemic drove women out of the workforce. Will they come back?

22nd July 2021

For Haley Stomp, a 46-year-old in Des Moines, Iowa, the coronavirus toppled the elaborate balancing act she and her husband had set up to take care of their two boys. After spending hours last fall looking at their finances, figuring out how long they could go without her income as a senior vice president of […]

Read More

Fed’s Powell feels heat from all sides as inflation spikes

15th July 2021

Lawmakers from both parties grilled Powell on the topic, highlighting the high-wire act he faces — both in policy and politics — in balancing the risks of higher inflation before President Joe Biden’s decision later this year on whether to reappoint him for another four-year term. Republicans repeatedly cautioned that the price spikes could accelerate, […]

Read More

Gasoline is up and GOP sees an easy target: Biden

4th July 2021

“People are paying more at the grocery store, at the gas pump, and when buying everyday goods,” Republican National Committee Chair Ronna McDaniel tweeted Sunday. “Rising prices under Biden are a hidden tax paid by every American!” “Is it any wonder we’re seeing surging fuel prices and inflation?” Sen. John Barrasso (R-Wyo.) wrote in an […]

Read More

A ‘humble’ Fed ramps up inflation forecast as prices jump

17th June 2021

The rate-hike prediction sent stocks tumbling and bond yields rising as investors grappled with the possibility that the Fed would soon begin to pull back on its massive support for the economy that’s been in place since the pandemic began, when it pledged trillions of dollars to keep financial markets from freezing up. The Fed […]

Read More

Soaring prices draw both shrugs and screaming in Washington

11th June 2021

“It’s probably time to be a little worried,” said Jack Ablin, chief investment officer at Cresset Capital. “Obviously, the Fed wants to see some inflation. But one of the mistakes they can make is letting it run too hot. And this economy is so totally accustomed to very low interest rates that even a pretty […]

Read More

Bargain hunters pounce as Trump condo prices hit decade lows

6th June 2021

Bargain hunters are swooping in to take advantage of prices in Trump buildings that have dropped to levels not seen in over a decade, a crash brokers attribute to a combination of the former president’s polarizing image and the coronavirus pandemic. It’s a stunning reversal for a brand that once lured the rich and famous […]

Read More

Biden’s back door to wage hikes

5th June 2021

“The ‘shortages’ we are seeing in lower-wage jobs and the accompanying wage pressures are an early sign of success” for the president’s agenda, said Julia Coronado, founder of MacroPolicy Perspectives. That success may be short-lived. Higher wages could be among the biggest factors in pressuring the Federal Reserve to raise interest rates if clear signs […]

Read More

U.S. adds modest 559,000 jobs, a sign of more hiring struggles

4th June 2021

Many large chains, including Amazon, Walmart, Costco, and Chipotle, have raised starting pay to better attract applicants. So have other employers: Wages jumped in May for a second straight month, a sign of companies trying to attract more workers. And the average work week remained elevated, which suggests that businesses are working their current staffs […]

Read More

Biden’s budget blowout predicts years of Obama-level tepid growth

29th May 2021

Some analysts suggested that the administration is essentially admitting that its proposed surge in federal spending — which administration officials hope to offset over time with higher taxes on the rich and corporations — won’t actually boost the economy much at all. “They clearly don’t understand the implications of what they’re putting out,” said Richard […]

Read More