Fort Bend County Commissioners have now passed a new fiscal budget of $499 million dollar budget is 11% more than in 2021.
- USA TODAY
Refinery spot prices fell Wednesday, after California Gov. Gavin Newsom told regulators to relax rules to allow smoggier, cheaper winter blend.
President Xi Jinping faces his greatest challenge yet ahead of a historic Communist Party meeting.
It works out to $93K per person.
- Detroit Free Press
Two companies promise to create nearly 4,500 jobs at separate electric vehicle battery plants, after the state approved nearly $1 billion in incentives.
Americans think California and Florida-style stimulus checks and Biden's student-debt relief make inflation worse — but they want them anyway
Even though they worry government spending is a main cause of inflation, Americans want the stimulus checks that over 15 states have adopted.
- Business Insider
Nobel laureate Paul Krugman warns the Fed risks going too far in fighting inflation - and predicts a return to rock-bottom interest rates
The renowned economist noted that rate hikes have a delayed effect, and the US labor market is showing signs of cooling down.
- Associated Press
The nation's gross national debt has surpassed $31 trillion, according to a U.S. Treasury report released Tuesday that logs America's daily finances. Edging closer to the statutory ceiling of roughly $31.4 trillion — an artificial cap Congress placed on the U.S. government’s ability to borrow — the debt numbers hit an already tenuous economy facing high inflation, rising interest rates and a strong U.S. dollar. Owen Zidar, a Princeton economist, said rising interest rates will exacerbate the nation's growing debt issues and make the debt itself more costly.
The S&P 500 remains about 17% above year-end 2019 levels, which isn't low enough given the steps the Federal Reserve likely still needs to take to get inflation to 2%, says Steven Blitz, chief U.S. economist at TS Lombard.
U.S. job openings fell by the most in nearly 2-1/2 years in August, suggesting that the labor market was starting to cool as the economy grapples with higher interest rates aimed at dampening demand and taming inflation. While there were 1.7 job openings for every unemployed person in August, down from two in July, this closely watched measure of supply-demand balance in the labor market remained above its historical average. "Even as higher interest rates and inflation, and weaker business and consumer confidence are beginning to tamp down labor market activity, the labor market still remains healthy," said Sophia Koropeckyj, a senior economist at Moody's Analytics in West Chester, Pennsylvania.
- USA TODAY
Gas prices are going up again adding to inflation worries. The Fed can't do much about it though, experts say. But rate hikes could help lower rent.
- Business Insider
"If the Fed pivots it's because we've had either an economic accident or a market accident," Mohamed El-Erian told CNBC on Monday.
‘The economy will crumble’: Another billionaire investor calls on the Fed to pull back its interest rate hikes
Starwood Capital Group’s Barry Sternlicht said that if interest rates aren’t lowered, the economy would “crumble.”
Treasury Secretary Janet Yellen says U.S. economy ‘has failed to live up to the nation’s promise of equal opportunity for all’
Yellen, who also shut down speculation that she could soon leave the Treasury Department, spoke at the annual Freedman’s Bank Forum Tuesday.
US employers took more than a million job openings off the market in August, the biggest drop since the beginning of the pandemic.
Cutting taxes was the wrong way to reverse ‘the unfolding economic disaster that is the U.K.’: Here’s what Liz Truss should do now
Investors have not liked the Tory government’s policies for a while now --- and it shows. In the last half-decade, the pound has plunged more than 50% against major currencies.
- Milwaukee Journal Sentinel
Michels spoke at an event where he received the endorsement of the powerful Tavern League of Wisconsin.
- Motley Fool
If you've been following the stock market even casually this year, you know there's one factor above all that's been roiling Wall Street: inflation. Inflation is near a 40-year high, clocking in at 8.3% year over year in August, and those persistent price increases have led the Federal Reserve to raise interest rates faster than it has in at least a generation. On Sept. 21, the Fed raised the federal funds rate another 75 basis points, its third such hike in a row.
- The Desert Sun
Refinery prices fell Wednesday, after Gov. Gavin Newsom told regulators to allow smoggier, cheaper winter blend. But officials want answers on spike.
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- Business Insider
The Fed hasn't realized the chances of a 'nirvana' where inflation falls without unemployment soaring, economists say
The Fed thinks unemployment has to top 4%, but waning price expectations could drag down wage growth instead, Pantheon Macro's chief economist said.