Biden hails ‘strong’ economic recovery despite disappointing jobs numbers

20th September 2021

Biden laid blame for the sluggish growth of U.S. jobs on the “impact of the Delta variant” of the coronavirus. But he also claimed that his American Rescue Plan and vaccination strategy have helped buoy the economy even as the Delta variant has spurred a resurgence in the Covid-19 pandemic. “Because of the groundwork we […]

Read More

U.S. jobless claims near pandemic low as economy strengthens

14th August 2021

Those complications help explain why the pace of applications remains comparatively high. Before the pandemic paralyzed the economy in March 2020, unemployment applications were running at about 220,000 a week. Many states, for example, require self-employed and gig workers to first seek conventional unemployment benefits — and be turned down — before they can apply […]

Read More

House Dem campaign chief warns the majority at risk without message reboot

4th August 2021

“If [Democrats] use it, we’re going to hold the House. That’s what this data tells us, but we gotta get in action,” he added. Maloney’s foreboding words come as Democratic leaders map out an aggressive strategy to hold the House next November, defending a tenuous majority with the help of a president who has more […]

Read More

U.S. economy surpasses prepandemic size with 6.5% Q2 growth

30th July 2021

By contrast, consumer spending — the main fuel of the U.S. economy — was robust last quarter: It advanced at an 11.8% annual rate. Spending on goods grew at an 11.6% rate, though down from a 27.4% surge in the first quarter. And spending on services, from restaurant meals to airline tickets, expanded at a […]

Read More

Biden’s economic gains come with newer worries about the future

29th July 2021

Some economists have already begun to ease back on forecasts for the rest of this year and 2022 as the Delta coronavirus variant surges, inflation spikes, supply chain issues persist and employers complain about a dire lack of available workers. Even the massive spending plans that Biden is trying to push through Congress, including a […]

Read More

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