Tag: inflation

Stocks drop sharply as tensions escalate over possible Ukraine-Russia conflict

mohmad free

US stocks fell on Thursday after tensions flared in Ukraine, and investors appeared to have raised concerns in Russia. The Dow Jones Industrial Average fell more than 1.2%, down 425 points, while the S&P 500 lost 1.4%. The Nasdaq fell 1.6% on Thursday. Technology stocks were among the biggest losers, with Microsoft shares losing 2% and Alphabet Inc. by 1.8%. Bond yields also fell as investors rushed toward their perceived safety. The yield on the 10-year Treasury fell to 1.96% from 2.04% late Wednesday. Markets reacted to the renewed possibility…

Read More

The end of inflation depends on a “successful” response to the epidemic

mohmad free

US Treasury Secretary Janet Yellen has predicted that inflation will end once there is a “successful” response to the pandemic when demand and labor supply patterns return to pre-pandemic standards. In an interview with “Face the Nation” on CBS Broadcast on Sunday, Yellen said she is confident the price booms will subside in the second half of next year as the country slowly recovers from the virus that has pushed the unemployment rate to nearly 15 percent. “The pandemic has been the answer to the economy and to inflation, and…

Read More

Brian Daisy rejects audit that downplayed inflation

mohmad free

The White House’s chief economic adviser declined to scrutinize Sunday that the Biden administration had repeatedly downplayed inflation over the summer — working overtime to promote the president’s agenda to rebuild better. During an express exchange With CNN’s Jake Tapper on Sunday morning, the director of President Biden’s National Economic Council, Brian Dees, insisted that he and his boss were not wrong in ignoring inflation as a short-term issue. “Do you think you and the president were wrong and that inflation is not short-lived, popping up a bit and then…

Read More

Kamala Harris says Joe Biden’s $1.75 trillion bill will fix inflation

mohmad free

Vice President Kamala Harris said Friday that inflation is a “source of stress for families” due to the rising cost of food and gas, but claimed President Biden’s $2 trillion social spending bill would solve the problem — despite the skepticism of the centrist Democrats who control the region. Bill’s fate. Harris said at a press conference in France that the Biden administration is taking the issue “seriously” — adopting a new, more sober stance in the White House after officials insisted for months that the price hike was “temporary.”…

Read More

4.4 million Americans quit their jobs in September

mohmad free

The Federal Reserve announced on Friday that a record number of Americans quit their jobs in September as the so-called Great Resignation gained momentum. In its Employment Opportunity and Employment Turnover Survey, the Labor Department said 4.43 million people handed in their letters of resignation two months ago, the largest percentage on record dating back to December 2000 – and 164,000 more than in August. The so-called quit rate – or the number of workers who quit as a percentage of total employment – rose to a record 3 per…

Read More

Biden has an inflation fiasco – but won’t admit he caused it

mohmad free

It is fascinating to watch the people who owe the Democrats every job created and every percentage point gained in economic growth suddenly argue that the White House is utterly powerless in the face of our current economic predicament. Chiefs generally take a lot of credit and/or blame for our fortunes, but they can certainly exacerbate existing problems. To be sure, our political class has exacerbated them through unbridled spending and support for policies that discourage work and energy production. Wholesale prices rose 8.6 percent from a year ago in…

Read More

Socialists, Joe Biden wraps reality on inflation and the economy

mohmad free

The news that inflation hit a 31-year high in October, rising at an annual rate of 6.2%, has made it very difficult for anyone to deny that inflation is real. Most economists acknowledge that it now poses a threat to the nascent economic expansion and the standard of living of American households. However, the Biden administration is doing its best to obfuscate that fact: its statement after news of inflation came out attributing the price hike solely to increased gas prices (which are largely due to the administration’s actions) and…

Read More

MSNBC host resists Buttigieg claims for labor shortages

mohmad free

Transportation Secretary Pete Buttigieg has repeatedly claimed in an interview on Wednesday that the persistent labor shortage in the United States is due to a lack of affordable childcare options despite the objections of Mika Brzezinski, co-host of MSNBC’s “Morning Joe.” “There are a lot of things that contribute to that,” said Buttigieg, who came under fire from conservatives for going on paternity leave in the midst of the global supply chain crisis earlier this year. “One of which is childcare, of course, which is why the president’s vision of…

Read More

Manchin sounds the alarm on inflation and says ‘economic pain’ cannot be ignored

mohmad free

Moderate Senator Joe Manchin criticized President Biden on Wednesday for claiming that the recent rise in daily commodity prices was “transient,” saying Washington was “no longer ignoring” the impact of inflation on Americans. The West Virginia Democrat – a key vote for Biden, whose party needs all 50 senators from his party to support the $1.75 trillion social spending bill – argued that the threat was “real” and “getting worse”. “By all accounts, the threat posed to the American people by record inflation is not ‘temporary’ but rather getting worse,”…

Read More

Burger prices expected to rise as inflation affects convenience stores

mohmad free

Prices of some of America’s favorite foods, including burgers and sausages, are set to soar, with annual inflation hitting a 30-year high in October, federal authorities announced Wednesday. Major US food companies, including Tyson Foods, Conagra and Kraft Heinz, are reported to be preparing to raise prices for some of their meat products to offset higher supplier costs, according to supplier letters to wholesale customers who were CNN got it. The radio said Paul Park hot dogs and burgers, corn dogs at the state fair, Jimmy Dean’s frozen breakfast items,…

Read More