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“Congress should raise taxes to fight inflation ‘right now’” Congress is missing an opportunity to combat decades-high inflation by failing to implement tax hikes, former Clinton administration Treasury Secretary Larry Summers asserted on Friday. Summers, a frequent critic of the federal response to inflation, argued that lawmakers should consider raising taxes as another means of…
“US housing market headed for ‘deep freeze’ as mortgage rates soar” The US housing market is on the cusp of a “deep freeze” as rising mortgage rates and steep home prices conspire to limit buying and selling activity, a prominent economist warned this week. Mark Zandi, the chief economist of Moody’s Analytics, pointed to a…
“CNBC grills Buttigieg about White House’s gas price ‘victory lap’” CNBC anchor Becky Quick grilled Biden Cabinet member Pete Buttigieg on Wednesday as to whether the White House was premature in “taking a victory lap” over a recent decline in gas prices. Quick asked Buttigieg, the Transportation Secretary, if the White House was prepared to…
“Apple to slow hiring, spending next year: report” Apple intends to slow hiring and spending growth next year in some units to cope with a potential economic downturn, Bloomberg News reported on Monday, citing people with knowledge of the matter. The potential move would see Apple – the world’s most valuable company – join a growing…
“Larry Summers says the Federal Reserve is wrong about economy” The Federal Reserve “lost its way” last year as inflation gripped American households and still isn’t being realistic about the impact it will have on the economy, ex-Treasury Secretary Larry Summers warned on Friday. Summers, who was far ahead of the Fed in predicting price…
“Inflation ‘eating his presidency alive’” Polling data shows that American voters are increasingly fed up with President Biden during the recent surge of inflation, a CNN analyst said Wednesday. The dire forecast from CNN data analyst Harry Enten came hours after federal data showed inflation had surged to 9.1% in June — the sharpest rate of…
“Biden’s inexperienced lackeys unlikely to pull US out of inflation doom” You’ve heard the saying, “Get woke, go broke.” Well, that is exactly what is happening to America as President Biden prioritizes woke concerns such as climate change and gender and racial “equity” over sound economic management. With inflation hitting a spine-chilling record 9.1%, there…
“Inflation hits whopping 9.1%, raising risk of 1% interest rate hike” Inflation surged an unexpectedly strong 9.1% last month, raising the risk of even steeper rate hikes from the Federal Reserve as Americans get pummeled by record gas prices, soaring rents and stiff grocery bills. The dismal June reading released by the Labor Department on…
“Biden’s America — Democrats tout job stats as labor crisis looms” Despite President Biden’s rosy jobs announcement Friday, America is heading into an economic crisis. What’s to blame? The Democratic Party’s disrespect for work and the people willing to do it. Over the last two years, millions of Americans have quit working or even looking…
“Why red states are winning the post-COVID economy” The numbers are in: Red states are winning the post-COVID economic realignment, reports the Wall Street Journal, and blue states are losing. The overall share of US jobs in red states has jumped more than half a percentage point since February 2020. And red states as a…