Higher energy prices are fueling a sharper than expected rise in prices paid to U.S. businesses, a signal that there’s still a long way to go to tame Bidenflation.
Americans spent far more at gas stations in August as fuel prices skyrocketed, pushing retail sales far above expectations.
The risks of inflation persistence got harder to ignore with Wednesday’s release of the consumer price index for August, and rising energy prices played a big part.
The runaway inflation that has dominated the economy during Biden’s presidency once again robbed workers of their wages gains in August.
You can’t feed your kids on happy talk about Bidenomics.
Prices rose rapidly as the summer wound toward its sweltering end in 2023, with monthly inflation rising at the worst pace in 13 months.
The last time household income suffered a decline as large as it did in the second year of Biden’s presidency was in the second year of Biden’s vice presidency.
After taxes, median real income fell 8.8 percent last year.
On the heels of Biden’s trip to Alaska, oil prices spike to highest level since last November.
If Joe Biden was hoping this would be a hot Bidenomics summer, he has got to be feeling pretty disappointed right now.
Price are up in the corn-belt by 40 cents a gallon.
Bidenonomics is putting downward pressure on American wages by increasing the labor supply through Joe Biden’s open border policies.
An unexpectedly steep decline in wholesale inventories was likely the result of stronger than expected consumer spending.
The Biden administration’s deficit spending has become a big part of the inflation problem.
U.S. labor productivity was revised down sharply along with overall economic output growth, while employers spent more on U.S. labor. The growth rate of unit-labor productivity, a measure of goods and services produced per hour worked, was revised down to
The labor market shows no signs of cooling off, raising the risk that inflation will reignite.
The idea that economic growth is faltering received another blow on Wednesday when the Institute for Supply Management reported that the services sector expanded for the eighth straight month in August.
Compared to most of Earth’s history, temperatures in 2023 are unusually cold.
The economic tide keeps rising even though the Fed has declared it is time for an ebb
Excluding transportation, manufacturing orders grew by more than expected.
Americans have overwhelmingly negative opinions of the U.S. economy and most think President Biden is mishandling the issue.
Let’s face it. This is Taylor Swift’s economy. The rest of us just work in it.
Economists had forecast the economy would add around 170,000 jobs, with the range of forecasts in the Econoday survey running from 40,000 to 190,000.
Jerome Powell has frequently said that the Federal Reserve sees the stance of monetary policy as “restrictive.” The American consumer, however, begs to disagree.
The Biden administration is offering student loan borrowers an “on ramp” that will allow them to avoid payments for yet another year.
The inflation fight is getting tougher.
You have to wonder if Jerome Powell is a bit frustrated that the unbridled enthusiasm of the stock market this week.
Wall Street thought sales would fall by 0.5 percent. Instead, they rose 0.9 percent.
Could demand for labor in the U.S. finally be cooling?
The government said that gross domestic product grew at a 2.1 percent annual pace in the the three months from April through June. The first estimate had the economy growing 2.4 percent in the quarter.
Today’s JOLTS data provided reassurance to monetary policymakers that inflationary pressures from the labor market may be retreating.
The confidence of American households in the health of the U.S. economy unexpectedly declined in August, with optimism about the future dropping near to levels typically associated with the approach of a recession. The index of U.S. consumer confidence fell
Job openings in the U.S. fell by much more than expected in July, suggesting that the extremely tight labor market may be loosening a bit. The Labor Department’s Job Openings and Labor Turnover Survey, known as JOLTS, showed Tuesday that
It is jobs week in America.
Even with inflation falling and growth accelerating, the American public is very unhappy with Biden’s management of the U.S. economy.
The Dallas Fed’s barometer of activity in the Texas manufacturing sector showed contraction for the 16th straight month.
There’s a clash coming between the Federal Reserve and the Biden administration.
The Fed chairman warned that rate hikes may not be over and rejected the idea of raising the central bank’s inflation target.
It’s hard to imagine how Republicans could bungle an election that may well turn on the issues of inflation, but never underestimate the “stupid party.”
New claims for unemployment benefits declined by 10,000 last week to 230,000, the lowest level in three weeks.
