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Christmas shoppers putting fewer gifts under the tree as recession looms If the Christmas tree looks larger this year, the reason may be the smaller pile of gifts beneath it. Retail analysts expect Americans to spend roughly the same amount on holiday gifts this year as last. Yet, because of inflation, the money will buy…
“Inflation cost households an extra $10K” Inflation is over, the administration crows, even as Congress works to pass another massive spending bill — this time, $1.7 trillion. But struggling families know not to pop the cork yet. The consumer price index rose just 0.1% last month, bringing the 12-month rate to 7.1% — still higher…
“Tesla to conduct layoffs, implement hiring freeze as stock sinks: report” Elon Musk’s Tesla is set to conduct layoffs and freeze further hiring as the electric car maker contends with a sustained downturn in its stock price, according to a report Wednesday. Tesla informed employees about the hiring freeze and said “another wave of layoffs…
“The Fed is playing with fire with its continued interest-rate hikes” The stock market’s thumbs down to last week’s Federal Reserve policy meeting should serve as a stark reminder to the Fed of the serious financial-market risks it’s running by clinging to its hawkish monetary-policy stance. By committing itself to continued interest rate hikes even…
“Fed’s John Williams says rates could go higher than forecast” New York Federal Reserve President John Williams said on Friday it remains possible the US central bank raises interest rates more than it currently expects next year, adding that he’s not expecting the economy to fall into recession as Fed policymakers press forward with action…
“Goldman Sachs to lay off as many as 4,000 employees: report” Goldman Sachs is planning to cut as many as 4,000 “low performing” staffers as it looks to shed costs during a profitability crunch, according to a report Friday. Top brass has reportedly asked managers to identify struggling employees for potential cuts, Semafor reported, citing…
The Hill’s Morning Report — Government shutdown averted as Senate passes spending bill Editor’s note: The Hill’s Morning Report is our daily newsletter that dives deep into Washington’s agenda. To subscribe, click here or fill out the box below. Close Thank you for signing up! Subscribe to more newsletters here The latest in politics and…
More adult children are living with their parents. Parents are not pleased The share of adult children who live with their parents has ticked up in recent years. This just in: The parents don’t like it. A recent Pew survey found two-fifths of dads believe parents hosting adult children is bad for society, while only…
“Hochul & Adams’ ‘vision’ for post-COVID New York gets it almost entirely wrong” No cheers for Mayor Eric Adams and Gov. Kathy Hochul’s “shared vision” for a post-COVID-19 New York City, which they touted at an Association for a Better New York event this week. Their assessment of the city’s current troubled economic situation under-plays the…
“The answer to youth joblessness is not another progressive wage hike” New York City’s jobless crisis continues. State Comptroller Tom DiNapoli reports nearly a quarter (23.6%) of Gotham men aged 16-24 seeking a job can’t find one. Counting women in that age bracket, it’s a still-awful 17.9% vs. 8.3% nationally. Naturally, progressives want to make…