The Federal Reserve Bank of New York’s monthly survey of U.S. households indicates a dramatic turn for the worse in both current conditions and expectations for the year ahead.
Inflation does not look like the result of “Putin’s price hike” or even supply-chain disruptions. It is being driven by consumer demand pumped up by a legacy of stimulus–monetary and fiscal–and fueled by a red hot labor market.
The White House launched a campaign this week to shift the public’s perception away from the idea that inflation is the result of the Biden administration’s policies.
The theory of greedflation was tossed into the dustbin of history by the quarterly reports of Walmart and Target.
The experts have been telling us for months that the economy was doing extraordinarily well once you look past the little problem of inflation. The American people weren’t buying it. And today’s Bureau of Economic Analysis revealed that the people were right.
Norse mythology has a colorful warning about the danger of distraction derailing an important project. This story was brought to mind by the dramatic sell-off on Tuesday of shares of Tesla.
We are witnessing the potential destruction of globalization and the fragmentation of the global economy into competitive but somewhat isolated trading groups.
A key market gauge of the risk of future recessions flashed a warning signal on Thursday afternoon.
While Democrats are accusing oil companies of price gouging, climate activists are demanding that banks stop financing fossil fuel development.
With Russia cut out of most of the things it could buy with euros, it may well decide to stop selling Europe natural gas.
Rising gasoline prices are also driving up expectations for broader inflation.
Oil prices surged higher on fears of sanctions against Russian energy.
The application of the techniques of cancel culture to the entire country of Russia continued on Thursday.
This week saw the introduction of a new phenomenon in international relations: canceling an entire country. But the global effort to cancel Russia is a big boon to the communists who still rule China.
BIden’s economy has lost the confidence of independent voters, 72 percent of whom say economic conditions are getting worse.
Teen Vogue asks: “What Is the Federal Reserve and Why Does It Matter?” It gets both answers wrong.
One week after the September 11th attacks, the air in New York City was still poisoned, the sickening smell of the still-burning ruins of the World Trade Center drifting up through Manhattan’s streets and cursing us with coughs and cancers.
Federal Reserve officials expect the labor market to see an influx of women workers when schools reopen in the fall. That’s looking a lot more doubtful now.
A major setback at the start of an administration that claims to be focused on racial inequality
Biden asks for money for state and local governments rather than direct stimulus payments or programs to fight the pandemic.
Getting money out to the American people was one of the most prudent things Congress did to stave off economic disaster when the pandemic took hold this spring.
Reich claimed, without evidence, that the U.S. would have had coronavirus under control if not for Republican leaders.
Pelosi pretended to negotiate all summer long but the end game was always going to be no deal till after the election.
American Airlines said it will begin furloughing 19,000 workers after lawmakers and the White House can’t agree on a coronavirus relief deal. The aid package that avoided layoffs since March expires on October 1.
CEO pledges to “focus the power of Walmart on our nation’s financial, healthcare, education and criminal justice systems.