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 […]

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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 […]

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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 […]

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A Biden-friendly economist is creating a big headache for president’s spending plans

25th May 2021

The study — which found that the employment rate for parents of young children actually declined at a lower rate than for those without kids — adds fuel to an intense national debate about what is behind a suspected worker shortage and what policy changes are needed to accelerate Americans’ return to work as the […]

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Biden pressed to send clear message on economy as warning signs flash

18th May 2021

“The economy is the big issue,” Jennings said, pointing to everything from temporary gasoline shortages spurred by the pipeline hack on the East Coast, to potentially longer-term headaches for Biden such as inflation and the unexpectedly poor April jobs report. “All of it — that will drive whether the GOP can move him down.” Government […]

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Tax the rich? Executives predict Biden’s big plans will flop

17th May 2021

“With business-minded and more centrist members on the Democratic side in both the House and Senate, they look at the scope and breadth of these tax increases for the infrastructure and families plans and they just find them jaw-dropping,” said Neil Bradley, chief policy officer at the U.S. Chamber of Commerce. “You are talking about […]

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Lockdown mentality still holding the economy back, banking official says

10th May 2021

A variety of theories have been put forth as to why April’s numbers were not better, including the idea that people were fine with sitting home and collecting enhanced unemployment benefits, as well as concerns about continued Covid risks, a lack of decent child care and fear of using crowded public transportation. Kashkari saw merit […]

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Mark Carney on Canada’s economic growth: ‘It’s going to take more than one budget’

29th April 2021

“There were elements of growth in the balance from what I can see and understand,” Carney said in a long response that didn’t directly answer the question. “It will take a few budgets to have the type of growth strategy that meets the imperative of what we’re going through and the opportunities that come.” Politics […]

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How the Trudeau government plans to meet its climate goals

20th April 2021

The backdrop: Since coming to power in 2015, Prime Minister Justin Trudeau has stressed his government’s commitment to tackling climate change. With Canada’s economy slowly rebounding from the effects of Covid-19 amid a renewed global interest in climate issues, the government’s first budget in two years seeks to harness the recovery to its environmental policies. […]

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Biden’s spending plans collide with a resurgent U.S. economy

2nd April 2021

It’s the latest in a series of reports this week showing a resurgent economy, with consumer confidence jumping to levels not seen since the start of the pandemic and manufacturing activity surging to its highest peak in nearly four decades. The S&P 500 also closed the week at a record high. Together, the numbers signal […]

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