Economy Archives - Page 36 of 58

Supreme Court Refuses to Hear Truckers’ Challenge to California’s Anti-Freelancing Law

The Supreme Court turned away a challenge to California’s “radical” worker-classification law that virtually outlaws freelancing. The law bans independent contracting, including independent trucking, and clamps down on the so-called gig economy. The ruling has the effect of ending a temporary stay preventing enforcement of the law, known as AB5,…

JPMorgan Issues Bombshell Warning about Where Oil Prices Are Headed

American multinational investment bank JPMorgan Chase & Co. has issued a bombshell warning about where it predicts oil prices could be heading. JPMorgan analysts predict that the price of oil could soon reach “stratospheric” levels that would be catastrophic to the economy. The price of a barrel of oil currently…

Biden Admin to Give Ukraine Another $820 Million in Military Aid

Democrat President Joe Biden's administration has announced a new security assistance package that will send another $820 million in military aid to Ukraine. The assistance comprises of $770 million in Ukraine Security Assistance Initiative (USAI) funds plus an authorization of a Presidential Drawdown (PDA) of security assistance valued at up…

Biden Official: Paying High Gas Prices Helps Preserve ‘Liberal World Order’

A senior Biden administration official has defended high gas prices by arguing that drivers are helping to preserve the "liberal world order." On Thursday National Economic Council Director Brian Deese defended Democrat President Joe Biden’s remarks that U.S. drivers should expect to pay higher prices at the pump until the…

Key Inflation Gauge Drops Slightly But Sticks at More Than Double Fed’s Target

A key inflation gauge dropped slightly in May but remains stuck at a level that is more than double the target set by the Federal Reserve. The Fed’s preferred inflation gauge, the so-called core Personal Consumption Expenditures (PCE) price index, is heavily relied on by the Federal Reserve when setting…

G7 Leaders Struggle to Cope with Damage Caused by Green Energy Agenda

Leaders of the Group of Seven (G7) rich nations are struggling to cope with the damage caused by their green energy agenda. As damage from climate policies escalates, dissent within the ranks over the next steps is now emerging. Reality is starting to intrude on the G7’s ongoing campaign to…

Gas Prices Fall Below $4.90 a Gallon as Recession Fears Mount

Gas prices in the United States have fallen below $4.90 a gallon as fears of an upcoming recession continue to mount. As of Monday, the national average for a gallon of gasoline is $4.897, according to AAA. The price is down from the historic highs of over $5 a gallon seen…

Consumer Confidence Hits Record Low as Americans Become Deeply Pessimistic about Economy

Americans have never been this pessimistic about the economy, with consumer confidence now hitting record lows, according to new data. As soaring inflation erodes household purchasing power and threatens a cost-of-living crisis, the University of Michigan's consumer confidence index has plunged to a record low. In May, the Michigan consumer…

45 Housing Markets Have ‘Probability of Price Decline,’ Research Firm Warns

Several housing markets across the United States have the "probability of a price decline" over the next year, a research firm is warning. According to data by researchers at CoreLogic, prices are poised to fall in 45 of the 392 U.S. housing markets that the firm analyzed. The news comes…

Who Is to Blame for Travel Chaos as Thousands of Flights Are Canceled?

Americans are suffering from travel chaos this summer as thousands of flights are being canceled across the country. Airlines are blaming staffing shortages as thousands more flights were canceled this week. The chaos comes as Americans return to traveling in droves this year. However, airlines and the federal government are…