Red Flag Flashes for Recession as Bellwether 2-10 Yield Curve Inverts
A red flag for recession was raised on Monday when the yield curve inverted on the bellwether 2-year/10-year U.S.
Economy
Average Gas Price Hits $5 for First Time in US History
The national average price of a gallon of gas has just hit $5 for the first time in U.S. history. According to the American Automobile Association (AAA), which tracks prices, the average price hit $5 on June 11. The average is as high as $6.43 in some states, including California, and as low as $4.46 … Read more
Dow Jones Plummets 880 Points after Inflation Hits 40-Year High
Stocks on Wall Street have plummeted across the board after a highly anticipated inflation report and consumer sentiment survey produced shocking results.
Washington Post Fires Reporter Who Lashed Out at Management, Own Colleagues
The Washington Post has fired reporter Felicia Sonmez after she spent a week criticizing the newspaper’s management and her colleagues on Twitter.
Airbnb Sued for Misleading Prices by Australian Authorities
Online accommodation marketplace Airbnb has been hit with a lawsuit by Australian authorities for alleged misleading pricing practices.
US Economy Slowing Due to Persistent Inflation, Supply Woes, OECD Warns
The United States economy is slowing down due to persistent inflation and ongoing supply chain issues, the Organization for Economic Cooperation and Development (OECD) has warned.
Australia’s Central Bank Shocks with Huge Cash Rate Hike to Tackle Inflation
The Australian central bank, the Reserve Bank of Australia, has hiked the cash rate by a massive 50 basis points, from 0.35 percent to 0.85 percent, to tackle soaring inflation.
BlackRock CEO Larry Fink Warns Inflation Will Last a ‘Number of Years’
Larry Fink, the chairman and CEO of the world’s largest asset manager BlackRock, has warned that U.S. inflation is likely to continue “for a number of years.”
Elon Musk Orders Tesla’s WFH Execs Back to Office or ‘Pretend to Work Somewhere Else’
Tech entrepreneur Elon Musk has warned Tesla executives to end their work-from-home lifestyles and return to the office, otherwise they “should pretend to work somewhere else.”
JPMorgan CEO Warns America of Coming ‘Economic Hurricane’ under Biden
J.P. Morgan Chase CEO Jamie Dimon has warned Americans to “brace” for an “economic hurricane” that is coming due to Democrat President Joe Biden’s policies.