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Democrat Sen. Chris Coons of Connecticut suggested the legislation may take ‘a year or more’ to bring down inflation during an interview on ABC News’ This Week.
Republicans led by Kevin McCarthy immediately sounded off that the U.S. is in a recession Thursday as Biden claims there is not one even though the economy shrunk for the second straight quarter.
Gross domestic product shrank 0.9 percent in the second quarter, following a decline of 1.6 percent decline in the first quarter, the Commerce Department said on Thursday.
The increases saw the S&P, Nasdaq, and Dow all swell by as much as two percent after the highly anticipated move from the central bank, raising its key rate by .75 percentage points.
Recent reports have highlighted Chinese companies’ increasing hold over key sectors of the American economy with purchases of US farmland and expansion of technology in rural areas.
U.S households are dipping into the $2.7 trillion saved during the pandemic as personal savings rates slump to just 5.4% in May – down from an all-time record of 34% in April 2020.
US energy producers have hit back at Joe Biden after the president tweeted that ‘companies running gas stations’ should simply ‘bring down the price you are charging at the pump’.
National Security Council Coordinator for Strategic Communications John Kirby said President Biden is ‘speaking honestly with the American people’ about high gas prices after Jeff Bezos’ attack.
President Joe Biden is pleading with the major oil companies who are ‘running gas stations’ to bring down their prices because ‘this is a time of war and global peril.’
‘We now see recession risk as higher and more front-loaded,’ Goldman Sachs Chief Economist Jan Hatzius wrote in a note on Monday, raising the chances of a recession in the next year to 30%.
Biden is more seriously considering a federal gas tax holiday as prices at the pump continue to soar and the administration is still blaming the surge on Russia’s invasion of Ukraine.
Bitcoin tumbled on Monday to its lowest point since 2020 after major U.S. cryptocurrency finance companies Celsius Network and Binance froze withdrawals on Monday morning
Larry Summers said that he thought Treasury Sec. Janet Yellen is wrong to say that there is ‘nothing to suggest’ the U.S. will fall into a recession.
Biden spoke at the Port of Los Angeles just hours after a report was released showing annual inflation in the US has jumped 8.6 percent.
The Labor Department’s report on Friday showed that the consumer price index rose 1 percent in May from the prior month, for a 12-month increase of 8.6 percent.
A recent survey of chief financial officers found that most believe a recession will strike in the next 12 months, and none believe the US economy will escape a downturn.
The top U.S. securities regulator has proposed rule changes to transform how Wall Street handles stock trades from small investors in the wake of the meme stock mania last year.
JPMorgan Chase CEO Jaime Dimon has issued a stark economic warning, saying that rising commodity prices and tightening monetary policy could deliver a ‘hurricane’ blow to the US economy.
Several states, like New York and Arizona, are pennies away from hitting $5-a-gallon as prices hit historic highs, while one Chevron gas station is charging customers more than $8 per gallon.
The shortage has seen summer businesses such as those in Cape Cod reduced to a shell of their pre-pandemic selves, operating on limited hours or closing altogether due to lack of staff.
Housing market prices increased by 23.8% from December 2019 to November 2021 – the fastest rate on record, with remote work accounting for 15.1% of that growth, a new study finds.
Thousands of homeless people are estimated to be living in the shadow of Disney World near Kissimmee, Florida after falling on hard times during the pandemic, DailyMail.com can reveal.
Roughly 11 million followers of the US president’s official Twitter handle, @POTUS, are either bots or inactive accounts, according to an analysis by Spark Toro.
President Joe Biden still doesn’t have action announced on student loan forgiveness despite claiming two weeks ago that he would make a decision ‘in a couple of weeks.’
Federal Reserve chair Jay Powell issued a stark warning to Americans already struggling with crippling price rises: There will be more pain ahead as the central bank tries to tackle inflation.
Wholesale inflation in the US soared 11 percent in April from a year earlier, a hefty gain that indicates high inflation will continue drag down to consumers and businesses in the months ahead.
President Joe Biden will address a global summit on Covid-19 Thursday, but Congress’ refusal to authorize billions of dollars in funding has thrown into…
President Joe Biden took his MAGA attacks on the road for the first time since he launched a push against ‘ultra MAGA’ forces and Donald Trump’s grip on the Republican Party.
Abbott Laboratories warned it could take more than two months to get their products back on retail shelves once the FDA gives the go to reopen its Michigan plant.
President Joe Biden toured an Illinois farm Wednesday to call for new investments and agricultural policies that he said would help blunt the impact of inflation amid Russia’s war on Ukraine.
The potential deal represents a major development in relations between Ankara and Washington, and comes as Turkey continues to support Ukraine amid the Russian invasion.
Treasury Secretary Janet Yellen on Tuesday warned that eliminating abortion rights would damage the U.S. economy and ‘set women back decades.’
Coinbase shares are down hugely since making its market debut last April. With crypto in a tailspin it is expected to report lower transaction numbers in the first quarter.
High speed internet is not a luxury any longer. It’s a necessity,’ said President Biden said at the White House Monday, championing a plan to get high-speed internet to millions of Americans.
Sir Martin Sorrell (pictured) was forced to delay publication of S4 Capital’s full year results twice in March – sending shares in the company tumbling.
Cameo CEO Steven Galanis said he laid off 87 staffers, including those in starting and senior-level positions, during a company-wide meeting on Wednesday, citing the need to scale back.
The number of Americans quitting their jobs hit a record high in March, as job openings shattered prior records and gave workers their pick of more lucrative opportunities.
The tycoon sold 4.4m shares, or 2.6 per cent of his 16.6 per cent holding, after Twitter’s board backed his takeover approach.
When the acronym was coined in 2013 by Jim Cramer, presenter of the CNBC show Mad Money, it was ‘Fang’, then Apple was added in 2017.
The $373 billion sum is also more than double what the country has spent over two decades on providing energy assistance to Americans who struggle to pay for heating in the winter.
The personal consumption expenditures (PCE) price index soared 6.6 percent in the 12 months through March, the biggest increase since 1982 and up from February’s revised 6.3 percent rate.
The billionaire blasted the ‘extreme antibody reaction’ from ‘those who fear free speech’ and said it ‘says it all’ as he launched his first public backlash against woke workers.
Staff bombarded the US social media site and internal message boards with attacks on the controversial tycoon.
Twitter staffers made no bones about the fact that they’re not thrilled with Tesla CEO Elon Musk ‘s takeover – despite being warned they could be given the boot in six months.
Twitter executives are in line for multimillion dollar payouts if Elon Musk’s $44 billion buyout proceeds as planned, with co-founder Jack Dorsey the biggest winner, followed by the CEO and former chair.
White House Press Secretary Jen Psaki on Monday hinted that Twitter could face regulatory action after its takeover by Elon Musk, as part of administration efforts to rein in social media.
The Tesla magnate, 50, agreed to pay shareholders $54.20 in cash for each share of common stock before the bombshell deal was struck.
As Disney is set to lose its special privileges in Florida the company’s stocks continue to take a tumble, closing at $126.66 per share on Thursday, a 31 percent drop over the course of the last year.
Immigration agencies like ICE and CBP could run out of funds as soon as early July if migration skyrockets with the end of Title 42. In response, President Joe Biden is prepared to ask Congress for more money.
Inflation has triggered a seven per cent increase in the price of a Big Mac that has fans wondering whether the iconic burger should be renamed the Whopper.
Businesses looking for employees to return to the office have been met with push-back from workers who claim their daily office routine is too expensive. Workers cited rising gas and childcare costs.
Jeff Green (pictured) was given the eyewatering sum by California-based Trade Desk, which said it matched the interests of the board and shareholders.
Johnson & Johnson will not be able to avoid facing a class-action lawsuit from employees that allege the company exposed them to asbestos.
Dimon (pictured with wife Judith)said market volatility was inevitable as the Fed tightens its quantitative easing programme and shrinks its balance sheet.
MCCAIN: The White House slogan may as well be ‘It’s Putin’s fault, stupid.’ And he’s talking to you and me. Well the American people aren’t buying it. Not only is this intellectually dishonest, it is a lie.
The Labor Department said Wednesday that its producer price index – which tracks inflation before it hits consumers – jumped 1.4 percent in March from the prior month alone.
President Joe Biden on Tuesday seemed to accuse Vladimir Putin of committing ‘genocide’ in the Ukraine afer his administration officials have been careful not to use that word.
The Labor Department said on Tuesday that the consumer price index increased 1.2 percent in March from the month before, for a 8.5 percent gain from a year ago.
Michael Hartnett, chief investment strategist for Bank of America, warned clients on Friday of a looming ‘recession shock’ in the US economy as the Fed tries to tame rampant inflation.
A bipartisan group of senators, led by Democrat Kyrsten Sinema, will propose bill to prevent the Biden administration from lifting Title 42 without plan in place to stop mirgrant surge.
The White House walked back Biden’s comments after the event, making clear that the president would not be ‘involved in any direct effort’ to force Amazon to accept unions.
Republicans doubled down on their demand to hold a vote on an amendment that would keep the Title 42 border restrictions in place as part of $10 billion covid funding bill.
Britain, the United States and the European Union all unveiled new measures designed to weaken the Russian war machine and force it to withdraw from Ukraine.
Celebrities such as singer Rihanna and Lord of the Rings Director Peter Jackson were among 329 people to join the ranks of the world’s billionaires for the first time this year.
Roughly 43 million federal student loan borrowers have not been required to make payments for more than two years, since the CARES Act was first signed into law under Donald Trump .
Twitter employees are voicing their concerns after Elon Musk was named a company board member and majority shareholder. Musk has admitted his investment in the company was not passive.
Deutsche, the first major bank to make the negative forecast, said a recession will hit the U.S. in late 2023 and carry into 2024 due to the Federal Reserves efforts to combat inflation.
‘I think that most likely what we’re going to have is a period of stagflation. And then you have to understand how to build a portfolio that’s balanced for that kind of an environment,’ Dalio said.
Lawmakers have reached a bipartisan deal to offer $10 billion in additional Covid-19 funding.
The House voted on Thursday on a bill to cap insulin prices at just $35 a month, easing the burden for millions of Americans that spend thousands of dollars a year on the life-saving drug.
President Joe Biden on Thursday said there will be food shortages around the globe because of Vladimir Putin’s invasion of Ukraine.
California Gov. Gavin Newsom has proposed giving people $800 debit cards or bus fare as the average gas prices hit a new state record on Wednesday at $5.88 per gallon, AAA reported.
President Joe Biden’s administration has run out of money to buy a fourth dose of the covid vaccine for all Americans, a new report said on Tuesday.
House Speaker Nancy Pelosi grew frustrated with a reporter who repeatedly asked her about Covid relief aid as she reminded him that ‘people are dying’ in Ukraine.
The Adobe Digital Economy Index, which uses online sales from six of the top 10 airline companies in the US, saw ticket sales for domestic flights in February exceed those from February 2019.
Pete Buttigieg suggested Tuesday that other priorities are more important than lowering gas prices as he claimed that prices at the pump are ‘outside the direct control of any political figure.’
Jen Psaki doubled down on blaming Vladimir Putin for soaring U.S. inflation, after the consumer price index hit another 40-year in February, which Biden called ‘Putin’s price hike.’
Inflation in the United States has reached a new 40-year high of 7.9 percent, with further increases likely due to the soaring prices of oil and commodities after Russia’s invasion of Ukraine.