Vice President Kamala Harris announces economic boost in Brooklyn
Vice President Kamala Harris was in Brooklyn on Thursday afternoon to discuss the administration's investment in underserved communities and small businesses.
The median household income is about $65,000, according to the most recent Census Bureau data. And while this can give a sense for what a typical American family is earning, income quintiles can shed light on the disparity between the … Continue reading → The post Income Thresholds to Be a Top Earner in America's Largest Cities – 2022 Edition appeared first on SmartAsset Blog.
Global restaurant industry data from OpenTable shows that cities such as Minneapolis, San Francisco and Seattle are struggling to recover from the pandemic. Florida cities are booming.
So far this year, 10,000 Arizonans learned they have to pay back their unemployment to the Arizona Department of Economic Security, due to no fault of their own.
The prediction, while vague, is direr than those of most other executives, including Goldman Sachs chief David Solomon and BlackRock’s Larry Fink.
Pennsylvania Senate candidate John Fetterman is blaming Washington, D.C., for the economy’s “mess” in a new ad released on Tuesday. “The truth is that our economy is a mess because of Washington. The rich, powerful, the insiders and the lobbyists. They’re lying about me to take the heat off themselves. It’s Washington’s fault,” Fetterman, a…
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...
Federal Reserve officials saw "little evidence" late last month that U.S. inflation pressures were easing, and steeled themselves to force the economy to slow down to control an ongoing surge in prices, according to the minutes of their July 26-27 policy meeting. While not explicitly hinting at a particular pace of coming rate increases, beginning with the Sept. 20-21 meeting, the minutes released on Wednesday showed U.S. central bank policymakers committed to raising rates as high as necessary to tame inflation - even as they began to acknowledge more explicitly the risk they might go too far and curb economic activity too much. "Participants agreed that there was little evidence to date that inflation pressures were subsiding," the minutes said.
Stimulus is coming in several different ways, including tax rebates, grants, and direct cash payments. Between late September 2022 and late January 2023, eligible residents of the Centennial State can expect a tax rebate of $750 (or $1,500 for joint filers). Georgia is calling their stimulus a "cost-of-living tax refund."
President Biden on Tuesday signed Democrats' massive spending bill into law, calling it the "biggest step forward on climate ever."
Politicians and economists haven't realized that the old social contract that venerated markets above all has been irreparably damaged by crisis upon crisis.
“The ‘Bank of KDOT’ needs to be permanently closed,” said Schmidt, the Kansas attorney general and Republican nominee for governor.
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Democrats are riding a wave of legislative successes between last summer and this year that few expected, and it totals $3.8 trillion in taxpayer money.
China's surprise cut in key policy rates this week highlights a dilemma facing Beijing as authorities try to revive an economy awash with cash in the financial system but still lacking in consumer demand. Monday's 10 basis point cuts in the People's Bank of China's (PBOC) 7-day and one-year lending rates isn’t much of a spur for banks to boost lending – they already lend to each other at much lower rates – and analysts say more fundamental measures are needed to revive confidence in an economy ravaged by a property crisis and ongoing COVID lockdowns. The PBOC is facing the challenge of a "partial liquidity trap", says Alicia García Herrero, chief economist for Asia Pacific at Natixis, as interest rates are not low enough to be defined as a Japan-style liquidity trap, but "cash remains trapped in the largest banks" due to growing systemic risks.
From energy use to health care costs to taxes, the Inflation Reduction Act will impact Americans' lives in many different ways.
U.S. retail sales were unexpectedly unchanged in July as falling gasoline prices weighed on receipts at service stations, but consumer spending appeared to pick up at the start of the third quarter, further assuaging fears the economy was in a recession. Combined with strong wage gains from a tight labor market and ample savings, that should help to underpin consumer spending in the months ahead. "The combination of the strong labor market and sturdy consumer spending looks to keep the economy out of recession territory."
(Bloomberg) -- New York City’s pension costs will rise by about $6 billion over the next three fiscal years as high inflation and fears of a recession have hammered the city’s retirement plans. Most Read from BloombergSaudi Billionaire Made $500 Million Russia Bet at War OnsetAmerica’s $7 Trillion Retirement Crisis Is Only Getting Worse‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in AdultsThese Six Cities Are Emerging as New Expat Hot SpotsBill Gates and the Secret Push to
The development potentially signals that the stream of tens of billions of dollars from income earned from its bond portfolio that it has been sending annually to the U.S. Treasury may slow as the Fed shrinks its balance sheet. It should not affect the ability to implement monetary policy as directed by the Federal Open Market Committee, according to minutes of the July 26-27 meeting. The negative income would be shown as a deferred asset on the Fed's balance sheet, which "would be extinguished over time as net income turned positive again in later years."
The Biden administration is planning to propose a cap on the price of Russian oil exports this fall in an effort to limit the inflationary impact of a new round of economic sanctions against Russia.
The CEO of Bank of America said the recent debate over whether the U.S. economy is technically in a recession or not is missing the point. Whether we are in a recession or not is really not the important thing. The issue of whether the U.S. economy is in recession has become politicized heading into the 2022 mid-term elections.