New York CNN Business — Diesel prices are soaring to record levels, and record low inventories of the fuel in parts of the United States are sparking fears of worse to come. Even if you’ve never bought a gallon of diesel in your life, as is the case for most US drivers, high diesel prices […]
Inflation, in short, continues to run at near 40-year highs. For the first time since the 1970s, we are at risk of entering a period of worldwide stagflation — meaning high inflation combined with low or negative growth. Notably, the preliminary estimate of America’s GDP for the first quarter of 2022 showed an outright decline, […]
‘Kennedy’ party panel reacts to President Biden’s ‘economic blunders’ as inflation hit 8.3% in April. Wholesale prices accelerated more than expected in April as inflation continued to hover near a 40-year high as a result of strong consumer demand, pandemic-related supply chain snarls and the Russian war in Ukraine. The Labor Department said Thursday that […]
WASHINGTON (Reuters) -US Treasury Secretary Janet Yellen said that she believes the Federal Reserve can bring down inflation without causing a recession because of a strong US job market and household balance sheets, low debt costs and a strong banking sector Yellen told a US House of Representatives Financial Services Committee hearing on Thursday that […]
President Biden warned Democratic donors at a Chicago fundraiser late Wednesday that decades-high inflation will “scare the living hell out of everybody” as the party faces the prospect of big defeats in November’s midterm elections. “We can’t let this happen, guys,” Biden said. “So, we have to — we have to — and it’s going […]
NEWYou can now listen to Fox News articles! FIRST ON FOX: Liz Mathis, an Iowa state senator and a top House Democratic candidate, has repeatedly claimed over the last decade that she and her husband had a “family owned business” and that she is an “owner,” but the marketing and advertising firm that she claimed […]
Placeholder while article actions load A conspiracy theory has been infecting the Democratic Party, its progressive base, even the White House. It’s not quite as self-sabotaging as the horse-dewormer-cures-covid false theory that swept up many Republicans last year, but it’s pretty damaging nonetheless. Call it “Greedflation.” The theory goes something like this: The reason prices […]
The DoubleLine CEO, known as ‘The Bond King,’ weighs in on what to expect from markets and the economy as the Federal Reserve tries to curb inflation, which remains near 40-year highs. Billionaire bond fund manager Jeffrey Gundlach warned on Thursday that we may see a “real recession” in 2023. The DoubleLine CEO, known as […]
Abortion and the economy are running neck and neck as the most important issues for voters ahead of the upcoming midterm elections, according to a poll released Thursday. The Monmouth University survey found that 26% of Americans say the economy is the top topic influencing their vote for Congress this November, while 25% say abortion […]
US sanctions and export controls imposed at the outset of Russia’s invasion of Ukraine and aimed at crippling its economy are starting to have an impact on Russian battlefield operations. Commerce Secretary Gina Raimondi in a pair of congressional hearings this week told lawmakers that Russia has been using semiconductors from dishwashers and refrigerators for […]