"Lets Go Brandon", a phrase used to insult President Biden, was stamped onto official tax letters and sent out to hundreds of taxpayers.
- Motley Fool
Many Americans were hoping that the federal government would come to their rescue the way it did last year by issuing stimulus checks. In March of 2021, lawmakers approved a stimulus round that sent payments worth up to $1,400 out to the public, and that money helped a lot of people cover their living costs at a time when job loss was still rampant. Here are a number of states that are planning to send out stimulus funds in August.
Median expectations for where inflation will be in one year tumbled 0.6 percentage point to 6.2% and the three-year outlook fell 0.4 percentage point to 3.2%, the lowest levels since February of this year and April of last year, respectively. For the one-year outlook, the fall in expectations was driven by big drops in year-ahead price growth changes for gasoline and food, with the decline in anticipated gasoline price growth being the second largest in the survey's nine-year history and the decline in food price growth the largest ever. Inflation expectations are a key dynamic being closely watched by Fed policymakers as they aggressively raise interest rates to contain price pressures running at four-decade highs.
- The Des Moines Register
The governor has now dedicated $18.5 million to a 'Field of Dreams' TV show and a Field of Dreams stadium. Backers say the stadium will boost tourism.
- Good Morning America
Inflation data released on Wednesday revealed that price increases slowed in July, easing the strain on household budgets as the Federal Reserve fights inflation with a series of borrowing cost hikes. While still elevated, price hikes waned from the near-historic pace reached in June, giving hope to policymakers and consumers that inflation has peaked. The consumer price index, or CPI, rose 8.5% year-over-year in July, a marked slowdown from 9.1% in June, according to the Bureau of Labor Statistics.
Gas prices are finally starting to fall back down to earth in much of the country. According to AAA, the national average is down to $4.189 per gallon as of Aug. 2. Fuel costs started to climb just as...
In 2020 and 2021, American consumers and businesses alike were flooded with various forms of stimulus in an attempt to keep the economy stable during the worst of the coronavirus pandemic. Since then,...
Top economist Mohamed El-Erian says inflation ‘will be sticky’ and utters the words nobody wants to hear: ‘Entrenched’ and ‘broad-based’
“What I’m most worried about is the collateral damage that’s going to be associated with inflation coming down, because the Fed has been so late in responding,” said Mohamed El-Erian, chief economic adviser at Allianz.
- Business Insider
'Dr. Doom' Nouriel Roubini warns the era of stagflation is here and central banks are setting a trap in trying to normalize policy
Central banks may find themselves in a "debt-trap" as they try to normalize monetary policies, the "Dr. Doom" economist said.
Workers and CEOs alike are worried about an impending recession. But some industries weather economic downturns better than others, LinkedIn finds.
As summer winds down, gas prices are slowly starting to fall despite an economy in turmoil. See: 22 Side Gigs That Can Make You Richer Than a Full-Time JobFind: 7 Surprisingly Easy Ways To Reach Your...
‘Assume you are laid off’: Suze Orman likes these 3 simple techniques to prepare for the recession ahead
Get ready. Anything can happen.
Don’t be fooled by a drop in U.S. headline inflation. Markets will be attuned to another figure on Wednesday.
The core CPI reading, or measure which strips out volatile food and energy costs, could have the propensity to jolt markets after Wednesday's release.
The IRS will get nearly $80 billion in new funding from the Inflation Reduction Act, but most of it won't go to hiring new agents.
The only thing keeping the U.K. from being an ’emerging-market economy’ is a currency crisis, says analyst
“What Brexit has not done by itself, Brexit coupled with COVID and high inflation have succeeded in doing,” Saxo Bank’s Christopher Dembik wrote. “The U.K. economy is crushed.”
'Not something we've seen ever before': With the US gaining jobs at a startling pace, any recession would be a bizarre one indeed
While the U.S. has seen two quarters of negative GDP growth — a typical recession sign — economists say current conditions are anything but typical.
‘Stagflation is out, Goldilocks is in’: Jefferies’ chief financial economist says the economy will be ‘stronger for longer’—but only to a point
“I don't buy this idea that a recession is imminent, but I do think a recession is inevitable,” Markowska told Fortune.
TOKYO (Reuters) -Japanese wholesale prices rose 8.6% in July from a year earlier, data showed on Wednesday, slowing from the previous month's pace in a sign inflationary pressure from higher fuel and raw material costs was easing. But price growth accelerated for some goods, such as food and machinery, Bank of Japan (BOJ) data showed, suggesting companies continued to pass on rising commodity costs blamed on the Ukraine war and the weak yen. "Cost-push inflationary pressure will gradually weaken," said Toru Suehiro, an economist at Daiwa Securities.
- Business Insider
China's digital yuan pushes key US lawmakers to seek urgency from the Fed on a digital dollar that fends off global rivals
"We should be concerned about China's predatory practices," Rep. French Hill, R-Ark., told the Wall Street Journal.
- Fox News
Poll: Americans trust GOP to tackle inflation, economy, but prefer pro-choice over pro-life candidates
A new poll found that the American people have more trust in Republicans to tackle key midterm issues but favor candidates with pro-choice positions
Germany's economy will lose more than 260 billion euros ($265 billion) in added value by 2030 due to the Ukraine war and high energy prices, spelling negative effects for the labour market, according to a study by the Institute for Employment Research (IAB). In comparison with expectations for a peaceful Europe, Germany's price-adjusted gross domestic product (GDP) will be 1.7% lower next year and there will be about 240,000 fewer people in employment, said the study published on Tuesday. The employment level is expected to stay at around this level until 2026, when expansive measures will gradually begin to outweigh the negative effects and lead to a plus of about 60,000 gainfully employed in 2030.