Economy>Recession
Why is inflation so high? An economist explains why everyday essentials cost more
Select spoke to an economist about what’s causing the high prices we’ve been experiencing lately. As prices continue to increase across a broad range of spending categories, many Americans are finding that their paychecks aren’t going as far as they used to. That’s probably because in June, the year-over-year inflation rate, as measured by the…
Read MorePowell Says Recession ‘Certainly a Possibility’ as Fed Is Determined to Hike Rates to Tame Inflation
Federal Reserve Chair Jerome Powell testified in Congress on June 22 that the central bank remains determined to keep hiking interest rates high enough to cool the red-hot inflation, acknowledging that recession is “certainly a possibility” but insisting the American economy is robust enough to withstand tighter financial conditions. With decades-high inflation running “well above” the Fed’s longer-run target…
Read MoreJohn Kerry: ‘We Absolutely Don’t’ Need to Drill for Oil Despite Soaring Gas Prices
The Biden administration’s climate czar, John Kerry, proclaimed that despite record-high gas prices, the United States doesn’t need to drill for more oil or natural gas. Speaking during a forum, Kerry said that Republicans and some analysts have suggested that “we need more drilling” and “we need to go back to coal.” He then argued: “No, we…
Read MoreGLENN BECK SOUNDS ALARM ON U.S. ECONOMY, SAYS REPO MARKET OPERATIONS A SIGN THAT ‘SOMETHING IS VERY WRONG’ WITH FINANCIAL SYSTEM
[vc_row][vc_column][vc_column_text] The conservative pundit Glenn Beck spoke gravely of the American economy during his BlazeTV show on Thursday, warning that “something is very wrong” with the financial system after the Federal Reserve stepped in to support the short-term lending market. Beck, who has a reputation for hyperbole and a history of peddling conspiracy theories, flagged…
Read MoreScarred by the Great Recession, Americans are already preparing for the next economic storm
‘Consumers that think the economy is weak will spend less and business owners that think the economy is weak won’t hire more people’ Americans’ view of the strong U.S. economy appear to be increasingly heretical. One-third of people have cut their spending over the last year, new research released Monday found. Of those, 5% said…
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