Europe
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 […]
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U.S. economy surpasses prepandemic size with 6.5% Q2 growth
30th July 2021By 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 […]
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Biden’s economic gains come with newer worries about the future
29th July 2021Some 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 […]
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Virus resurgence menaces economy just as rescue programs unravel
24th July 2021Biden — 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 […]
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The pandemic drove women out of the workforce. Will they come back?
22nd July 2021For 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 […]
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Fed’s Powell feels heat from all sides as inflation spikes
15th July 2021Lawmakers 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, […]
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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 […]
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A ‘humble’ Fed ramps up inflation forecast as prices jump
17th June 2021The 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 […]
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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 […]
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Bargain hunters pounce as Trump condo prices hit decade lows
6th June 2021Bargain 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 […]
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