Members phkrause Posted February 26, 2023 Author Members Share Posted February 26, 2023 Key US inflation measure surges at fastest rate since June WASHINGTON (AP) — The Federal Reserve’s preferred inflation gauge rose last month at its fastest pace since June, an alarming sign that price pressures remain entrenched in the U.S. economy and could lead the Fed to keep raising interest rates well into this year. https://apnews.com/article/inflation-economy-business-9b044c8ada5aa538d539237be1da9d14? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted February 28, 2023 Author Members Share Posted February 28, 2023 2023 US recession now expected to start later than predicted WASHINGTON (AP) — A majority of the nation’s business economists expect a U.S. recession to begin later this year than they had previously forecast, after a series of reports have pointed to a surprisingly resilient economy despite steadily higher interest rates. https://apnews.com/article/inflation-united-states-government-recessions-and-depressions-economy-business-c14699b792454e4d2d3d642d65ff4395? Biden budget aims at China with billions for Pacific islands WASHINGTON (AP) — Alarmed by China’s success in wooing Pacific island nations, the Biden administration is proposing to spend billions to keep three of those countries in the U.S. orbit. https://apnews.com/article/biden-budget-us-china-marshall-islands-micronesia-palau-9a3dd6c94b1287bdb015449af00cd654 Biden budget with deficit cuts, tax hikes won’t fly with GOP PHILADELPHIA (AP) — As political gridlock puts the government at risk of defaulting, President Joe Biden on Thursday is making an opening offer with a budget plan that would cut deficits by $2.9 trillion over the next decade — a proposal that Republicans already intend to reject. https://apnews.com/article/biden-budget-debt-limit-deficit-republicans-56ed3a1b2ed906f89bc84edc435d3e7d Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted February 28, 2023 Author Members Share Posted February 28, 2023 Minnesota surplus holds steady; sets stage for budget debate ST. PAUL, Minn. (AP) — An updated forecast put Minnesota’s budget surplus Monday at a still-enormous $17.5 billion, reflecting an improvement in the state’s fiscal picture and setting the stage for the nitty-gritty of the Legislature’s debates on spending and taxes. https://apnews.com/article/inflation-minnesota-75c1e7dae40420fd3b110bf87e21521b Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted March 1, 2023 Author Members Share Posted March 1, 2023 US economy sending mixed signals: Here’s what it all means WASHINGTON (AP) — Maybe it was just too good to be true. https://apnews.com/article/economy-inflation-interest-rates-jobs-recession-f218111d29793783338e3ff6ec040da2? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted March 3, 2023 Author Members Share Posted March 3, 2023 It’s O.K. to Be Confused About This Economy Even the experts don’t really know where inflation and jobs are headed. https://www.newyorker.com/news/our-columnists/its-ok-to-be-confused-about-this-economy? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted March 6, 2023 Author Members Share Posted March 6, 2023 Monster-sized budget surpluses allow new governors to dream big Both parties are looking at tax cuts but Republicans are showing an appetite for new spending too. https://www.politico.com/news/2023/02/15/new-governors-tax-cuts-budget-00082585 Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted March 8, 2023 Author Members Share Posted March 8, 2023 Powell signals increased rate hikes if economy stays strong WASHINGTON (AP) — The Federal Reserve could increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues to point to a robust economy and persistently high inflation, Chair Jerome Powell told a Senate panel Tuesday. https://apnews.com/article/inflation-federal-reserve-interest-rates-powell-unemployment-79b7ead4530ab381a17638a6c9df2d90 Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted March 9, 2023 Author Members Share Posted March 9, 2023 Here’s what Biden’s budget would mean — if it had a chance WASHINGTON (AP) — With Republicans in control of the House, there’s no chance that President Joe Biden’s new budget plan will become law as it stands. Instead, the financial blueprint that he’s announcing in Philadelphia on Thursday will serve as a political talking point for a president preparing to run for reelection. https://apnews.com/article/biden-budget-highlights-taxes-deficits-medicare-3f0d64293eb6bf84d114d937627119b8 Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted March 10, 2023 Author Members Share Posted March 10, 2023 Biden budget vs. House GOP: Values on display in debt fight WASHINGTON (AP) — For President Joe Biden, his federal budget is a statement of values — the dollars and cents of a governing philosophy that believes the wealthy and large corporations should pay more taxes to help stem deficits and lift Americans toward middle class stability https://apnews.com/article/biden-mccarthy-budget-debt-taxes-congress-a15d0401854bea692ac1bb8d4d550792? Biden rolls out budget plan, challenges GOP to follow suit PHILADELPHIA (AP) — As political gridlock puts the government at risk of defaulting, President Joe Biden on Thursday made an opening bid with a budget plan that would cut deficits by $2.9 trillion over the next decade — a proposal that Republicans already intend to reject. https://apnews.com/article/biden-budget-debt-limit-deficit-republicans-56ed3a1b2ed906f89bc84edc435d3e7d Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
bonnie1962 Posted March 10, 2023 Share Posted March 10, 2023 16 minutes ago, phkrause said: Biden budget vs. House GOP: Values on display in debt fight WASHINGTON (AP) — For President Joe Biden, his federal budget is a statement of values — the dollars and cents of a governing philosophy that believes the wealthy and large corporations should pay more taxes to help stem deficits and lift Americans toward middle class stability https://apnews.com/article/biden-mccarthy-budget-debt-taxes-congress-a15d0401854bea692ac1bb8d4d550792? Biden rolls out budget plan, challenges GOP to follow suit PHILADELPHIA (AP) — As political gridlock puts the government at risk of defaulting, President Joe Biden on Thursday made an opening bid with a budget plan that would cut deficits by $2.9 trillion over the next decade — a proposal that Republicans already intend to reject. https://apnews.com/article/biden-budget-debt-limit-deficit-republicans-56ed3a1b2ed906f89bc84edc435d3e7d AS neither you or I are economists we can only rely on what we consider common sense. Perhaps your common sense says the way of financial security/responsibility is when finding yourself in trouble you craft a new budget. Borrowing/spending a very large sum of money, planning on payback on money we plan on making up to I think it is ten?years out. That may be financial responsibilty to you, for many of us that is how to get into trouble in the first place. Sometimes in curtailing all wasteful spending,it requires cutting back on somethings that hurt a little because of our previous waste. I guess I am just naive enough to believe that I cannot borrow/spend massive amount of money and plan on paying it back with money I expect to have in the future Quote Link to comment Share on other sites More sharing options...
Members phkrause Posted March 10, 2023 Author Members Share Posted March 10, 2023 Another US hiring surge: 311,000 jobs despite Fed rate hikes WASHINGTON (AP) — America’s employers added a substantial 311,000 jobs in February, fewer than January’s huge gain but enough to keep pressure on the Federal Reserve to raise interest rates aggressively to fight inflation. https://apnews.com/article/jobs-unemployment-inflation-economy-federal-reserve-43c8e14bcddae79da2e58a57a902d154 Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted March 14, 2023 Author Members Share Posted March 14, 2023 US inflation eases but stays high, putting Fed in tough spot WASHINGTON (AP) — U.S. consumer price increases eased slightly from January to February but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system. https://apnews.com/article/inflation-federal-reserve-interest-rates-banks-economy-40c98d52a8bc71e21a228ed5c1cbde86? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted March 23, 2023 Author Members Share Posted March 23, 2023 What the Fed rate increase means for your credit card bill NEW YORK (AP) — The Federal Reserve raised its key rate by another quarter point Wednesday, bringing it to the highest level in 15 years as part of an ongoing effort to ease inflation by making borrowing more expensive. https://apnews.com/article/federal-reserve-interest-rates-credit-cards-a1a5c342b60b63f45d1a700798b70b3a? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 2, 2023 Author Members Share Posted April 2, 2023 A key inflation gauge tracked by the Fed slowed in February WASHINGTON (AP) — The Federal Reserve’s favored inflation gauge slowed sharply last month, an encouraging sign in the Fed’s yearlong effort to cool price pressures through steadily higher interest rates. https://apnews.com/article/inflation-prices-rates-federal-reserve-consumer-spending-dbeb41c2898b33d9f5e7cfee3252c228 Key Fed inflation gauge rose 0.3% in February, less than expected An inflation gauge the Federal Reserve follows closely rose slightly less than anticipated in February, providing some hope that interest rate hikes are helping ease price increases. https://www.cnbc.com/2023/03/31/fed-inflation-gauge-february-2023-.html Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 4, 2023 Author Members Share Posted April 4, 2023 Biden pushes econ policy as Trump indictment gets attention FRIDLEY, Minn. (AP) — President Joe Biden ventured to suburban Minneapolis on Monday to talk about factory jobs and contrast his agenda with “the last guy who had this job.” The “last guy,” as Biden calls Donald Trump, was simultaneously touching down in New York to become the first former president to be arrested. https://apnews.com/article/biden-investment-budget-clean-energy-2024-campaign-4a7b8a1161f16db5561149e21f941af4 Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 8, 2023 Author Members Share Posted April 8, 2023 US adds a healthy 236,000 jobs despite Fed’s rate hikes WASHINGTON (AP) — America’s employers added a solid 236,000 jobs in March, suggesting that the economy remains on solid footing despite the nine interest rate hikes the Federal Reserve has imposed over the past year in its drive to tame inflation. https://apnews.com/article/jobs-unemployment-inflation-layoffs-economy-federal-reserve-40add7d390eca72a0294c8d5c80b2dd6 Yields, expectations for rate hike rise after jobs report NEW YORK (AP) — Yields rose in the U.S. bond market Friday following a highly anticipated report on the U.S. job market. https://apnews.com/article/markets-economy-stocks-oil-b589d3770c580992de67a0b9ca7ecdd9 Asian stocks follow Wall Street up ahead of US jobs update BEIJING (AP) — Asian stock markets followed Wall Street higher on Friday ahead of a U.S. job market update that traders hope might encourage the Federal Reserve to ease off plans for more interest rate hikes. https://apnews.com/article/stock-markets-banks-rates-recession-b123b54a2436b2afd62fb2a9fad26149 Australia pauses key interest rate at 3.6% after 10 hikes CANBERRA, Australia (AP) — Australia’s central bank left its benchmark interest rate on hold at 3.6% on Tuesday following evidence that inflation is falling. https://apnews.com/article/australia-interest-rates-bbf44bf86759b460ee0f26615f2cfc58 Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 9, 2023 Author Members Share Posted April 9, 2023 Job growth totals 236,000 in March, near expectations as hiring pace slows Nonfarm payrolls growth in March was about in line with expectations, but showed signs that the jobs picture is in the early stages of a slowdown. https://www.cnbc.com/2023/04/07/jobs-report-march-2023.html Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 10, 2023 Author Members Share Posted April 10, 2023 Black Unemployment Tumbled to a 50-Year Low in March March's unemployment rate for Black workers was 5%, a low not seen since 1972, according to data released Friday from the Bureau of Labor Statistics. That number is a long way from the all-time high of 21.2% in January 1983, which occurred in the aftermath of the early 1980s recession.1 Unemployment rates for Black women were even lower at 4.2%.1 https://www.investopedia.com/black-unemployment-tumbles-to-record-low-7377052? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 13, 2023 Author Members Share Posted April 13, 2023 Inflation rises just 0.1% in March and 5% from a year ago as Fed rate hikes take hold Inflation cooled in March as the Federal Reserve’s interest rate increases showed more impact, the Labor Department reported Wednesday. https://www.cnbc.com/2023/04/12/cpi-march-2023-.html Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 17, 2023 Author Members Share Posted April 17, 2023 Asian stocks follow Wall St higher as US inflation cools BEIJING (AP) — Asian stock markets followed Wall Street higher on Friday after U.S. inflation eased in March and China reported unexpectedly strong exports. https://apnews.com/article/inflation-financial-markets-federal-reserve-system-recessions-and-depressions-business-8c794b440feef64ddf83c32ba0b09929 Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 27, 2023 Author Members Share Posted April 27, 2023 Nestlé raises food prices again despite NGO protests Swiss food manufacturer Nestlé has raised prices 9.8% on average for its products, adding further fuel to arguments that the multinational is profiteering from inflation. https://www.swissinfo.ch/eng/business/nestlé-raises-food-prices-again-despite-ngo-protests/48461552? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 29, 2023 Author Members Share Posted April 29, 2023 Gross Domestic Product, First Quarter 2023 (Advance Estimate) Real gross domestic product (GDP) increased at an annual rate of 1.1 percent in the first quarter of 2023 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.6 percent. https://www.bea.gov/news/2023/gross-domestic-product-first-quarter-2023-advance-estimate Economic slowdown: Five takeaways from the new GDP report The American economy’s latest report card indicates growth slowed during the first quarter of the year as the Federal Reserve continued interest rate hikes to try and tamp down inflation. https://thehill.com/business/economy/3975269-economic-slowdown-five-takeaways-from-the-new-gdp-report/ Is the economy at risk of a recession? Since early last year, capital markets have grappled with the potential for recession. This is due in large part to efforts by the Federal Reserve (Fed) to in an effort to curb inflation. While the economy slowed significantly after 2021, a recession has yet to emerge. https://www.usbank.com/investing/financial-perspectives/market-news/economic-recovery-status.html The Fed announces ninth-straight interest rate hike of 25 basis points—here’s what will get more expensive As expected, the Federal Reserve announced another 25 basis point interest rate hike on Wednesday, making the benchmark rate the highest it’s been since 2007. https://www.cnbc.com/2023/03/22/fed-announces-interest-rate-hike-of-25-basis-points.html Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted May 3, 2023 Author Members Share Posted May 3, 2023 Job openings fell more than expected in March to lowest level in nearly two years Employment openings pulled back further in March, hitting a nearly two-year low in a sign that the ultra-tight U.S. job market is loosening and possibly putting less pressure on inflation, the Labor Department reported Tuesday. https://www.cnbc.com/2023/05/02/jolts-march-2023-.html Inflation and the Labor Market Today I will offer a progress report on the Federal Open Market Committee's (FOMC) efforts to restore price stability to the U.S. economy for the benefit of the American people. The report must begin by acknowledging the reality that inflation remains far too high. My colleagues and I are acutely aware that high inflation is imposing significant hardship, straining budgets and shrinking what paychecks will buy. This is especially painful for those least able to meet the higher costs of essentials like food, housing, and transportation. Price stability is the responsibility of the Federal Reserve and serves as the bedrock of our economy. Without price stability, the economy does not work for anyone. In particular, without price stability, we will not achieve a sustained period of strong labor market conditions that benefit all. https://www.federalreserve.gov/newsevents/speech/powell20221130a.htm Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted May 7, 2023 Author Members Share Posted May 7, 2023 Biden hopes strong job market means soft landing for economy WASHINGTON (AP) — For President Joe Biden, the past few days have raised hopes that the U.S. economy can stick a soft landing—possibly avoiding a recession as the 2024 election nears. https://apnews.com/article/biden-economy-recession-jobs-debt-limit-6011f0ae8710428049d8d6fda47a88c9 Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted May 7, 2023 Author Members Share Posted May 7, 2023 Job growth totals 253,000 in April, beating expectations even as the U.S. economy slows Job growth fared better than expected in April despite bank turmoil and a decelerating economy, the Labor Department reported Friday. https://www.cnbc.com/2023/05/05/jobs-report-april-2023-job-growth-totals-25300-in-april.html Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
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