Quill Intelligence LLC. CEO Danielle DiMartino Booth weighs in on record-high inflation and the impact on real wages. The Senate overwhelmingly confirmed Jerome Powell to a second term as chairman of the Federal Reserve on Thursday, a move that comes at a precarious time for the US central bank as policymakers attempt to tame the […]
Senior Conservative MPs have turned on the Bank of England over its handling of inflation, in a rare outbreak of political criticism of the central bank in the way it is doing its core job. Boris Johnson’s party is feeling the political heat as the cost of living crisis intensifies and now some Tory MPs […]
Placeholder while article actions load A House committee has opened an investigation into the US Postal Service’s $11.3 billion plan to purchase mostly gas-powered mail-delivery trucks, ordering the mail agency to turn over confidential records on their environmental impact and costs. Rep. Carolyn B. Maloney (DN.Y.), who chairs the powerful House Oversight and Reform Committee, […]
Reader donations, many as small as just $1, have kept In These Times publishing for 45 years. Once you’ve finished reading, please consider making a tax-deductible donation to support this work. As the stock market began to soar during the pandemic depths of 2020, fueled by stimulus money, an entire generation of Americans began day […]
(Reuters) – Russia, one of the world’s largest wheat exporters, will increase wheat exports this year due to a potentially record harvest, President Vladimir Putin said on Thursday. Russia competes with the European Union and Ukraine for supplies of wheat to the Middle East and Africa. It continues to export despite difficulties with logistics and […]
Shares of Rivian, the electric-vehicle maker that went public last year with big ambitions to take on Tesla and others, jumped Thursday after the company reaffirmed its production forecast for this year despite supply-chain problems. In midday trading, the shares were up more than 20 percent. Before Thursday’s session, the company’s stock price had declined […]
‘Kennedy’ party panel reacts to President Biden’s ‘economic blunders’ as inflation hit 8.3% in April. the tightest work market in decades is fueling rapid wage growth for millions of Americans, but sky-high inflation is quickly eroding those gains. The Labor Department reported on Wednesday that average hourly earnings for all employees actually declined 2.6% in […]
Just 24 hours after Ukraine reduced the flow of natural gas across its territory into Europe, blaming interference by Russian troops, Gazprom suspended supplies through the Yamal-Europe pipeline running across Poland, and stopped sending gas to a distributor in Germany. While the volumes affected are small, in total accounting for just a few percent of […]
Data: Bureau of Labor Statistics; Chart: Axios Visuals The latest inflation data included a number that was shocking, though not exactly surprising to anyone who has been booking their summer travel lately: Airfares rose 18.6% in April, the most on record for a single month, which accounted for about a quarter of the overall surge […]
Alba Wheels Up International President Sal Stile warns lockdowns in China will add to inflationary pressures this summer. Gridlock within China’s ports will likely force the US to experience another supply chain disaster this summer, one shipping and customs company signaled on Thursday, ultimately driving up consumer prices to hit their highest peak of the […]