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“Latest inflation spike shows Biden, Fed boss won’t stop recession: experts” Experts fear a recession is nearly unavoidable after the Friday release of federal data showing decades-high inflation in May revealed that President Biden, Federal Reserve chair Jerome Powell and other top policymakers are nowhere near achieving their goal of lowering prices. Economists and investors…
“Record-high US inflation has analysts gloomy” Economists seeking a sign that the country’s financial health was turning a corner were left reeling after the federal government released data indicating that inflation rose at a pace not seen in more than four decades. Consumer prices surged 8.6% last month from 12 months earlier, faster than April’s…
“Inflation stayed red-hot in May as high energy prices drive soaring prices” American consumers continue to be weighed down by soaring levels of inflation as the consumer price index remained at a sky-high clip of 8.6% — the highest since 1981 — thanks to skyrocketing oil prices as well as the rising cost of food,…
“Big baby Biden bawls and blames Americans for lack of action” President Joe Biden went on Jimmy Kimmel’s show Wednesday night — his first one-on-one interview since February — to air some grievances with the nation he’s tasked with leading. Kimmel asked why no real action has been taken on gun violence. Biden’s answer? “Intimidation…
“Two-thirds of Americans expect inflation to intensify: poll” Two-thirds of Americans think inflation will get worse this year — prompting many to slash their savings while cutting back on going out to eat and finding ways to avoid driving, according to a new poll released Thursday. The national survey of more than 1,000 adults in…
“Mortgage demand hits 22-year low as interest rates rise” Mortgage demand sank to its lowest level in 22 years this week as rising interest rates and a lack of inventory cool demand among potential homebuyers. The volume of mortgage loan applications sank by 6.5% for the week ending on June 3 compared to the…
“‘Shrinkflation’ affecting package sizes but not prices” It’s the inflation you’re not supposed to see. From toilet paper to yogurt and coffee to corn chips, manufacturers are quietly shrinking package sizes without lowering prices. It’s dubbed “shrinkflation,” and it’s accelerating worldwide. In the US, a small box of Kleenex now has 60 tissues; a few…
“Janet Yellen recognizes ‘unacceptable levels of inflation’ in US” Treasury Secretary Janet Yellen acknowledged Tuesday that inflation has reached “unacceptable” heights, even as she defended Biden administration-backed spending bills that Republican lawmakers allege have contributed to the problem. “We currently face macroeconomic challenges, including unacceptable levels of inflation,” Yellen told the Senate Finance Committee three days…
“Biden to relax China tariffs in lame bid to address inflation” In a bid to slow the soaring inflation he’s given the country President Joe Biden is looking to . . . reverse another Trump policy, specifically the last president’s 2018 tariff hikes on roughly $300 billion of Chinese goods. To be fair, for once…
“Letters to the Editor — June 7, 2022” The Issue: President Biden’s low approval ratings in the midst of record-high inflation. The direction our economy and country are headed, with no relief in sight, is extremely disturbing (“Voters: It’s the Economy, Stupid,” June 6). Inflation is at a 40-year high. Gas prices are soaring daily….