Economy Archives - Page 41 of 59

Powell: Fed to Raise Interest Rates without ‘Hesitation’ until Inflation Eases

Federal Reserve Chairman Jerome Powell has warned that the central bank will continue raising interest rates to combat elevated inflation until it comes down. Powell said the Fed is committed to fighting inflation during an interview at The Wall Street Journal’s Future of Everything Festival. “We will go until we…

Elon Musk: Twitter Deal ‘Cannot Move Forward’ until Bot Data Confirmed

Elon Musk has warned Twitter that his deal to buy the company “cannot move forward” until the data on bots and fake accounts has been confirmed. Twitter shares tumbled again on Tuesday after Musk said that his $44 billion purchase of the social media platform won't go ahead until the…

Rep. Johnson: Biden Must Stop Foreign Energy Reliance & ‘Reckless Spending’ to Reduce Inflation

Rep. Bill Johnson (R-OH) has warned Democrat President Joe Biden that his administration needs to end reliance on foreign nations for energy and reverse its course of “reckless spending” if inflation is going to go down. Johnson told NTD’s “Capitol Report” show that he doesn’t see an end in sight…

India Bans Wheat Exports over Concerns of Food Security

India has banned almost all exports of wheat after expressing concerns over food security, according to reports. The Indian government cited the heightened risk to food security in the country and some of its neighbors arising from a sudden spike in the global prices of wheat. India’s Directorate of Foreign…

Japan Bans Exports of High-Tech Goods to Russia

Japan has announced it is banning all exports of cutting-edge goods to Russia as additional sanctions over the country's invasion of Ukraine. The ban on exports of 14 high-tech goods, including oil refining equipment, quantum computers, 3D printers, and electron microscopes to Russia will take effect starting May 20, according…

Elon Musk Says Twitter Deal ‘on Hold’ over Spam Bots

Tech entrepreneur Elon Musk said today that his deal to buy Twitter is “temporarily on hold” over data reports concerning "spam bots" on the platform. Musk said it is "on hold" until detailed information confirms Twitter’s claim that bots or fake accounts make up fewer than 5 percent of users…

Court Reinstates Texas Law Protecting Free Speech on Social Media Platforms

A court has reinstated a Texas law that allows state officials to bar social media platforms from censoring users based on their political views, according to reports. On Thursday, the 5th U.S. Circuit Court of Appeals panel reversed a district judge’s decision that blocked Texas from enforcing the law. The…

Jack Dorsey Agrees with Elon Musk on Trump’s Twitter Ban

Twitter co-founder and former CEO Jack Dorsey said he backs Elon Musk’s plan to reinstate former President Donald Trump’s account when he takes control of the platform. Dorsey slammed the move to ban Trump as a “business decision” and a “failure,” admitting that it was "wrong." Musk suggested on Tuesday…

Biden Gets Worst News of Political Career: Inflation Continues, Real Wages Fall

Democrat President Joe Biden has just received the worst news of his political career as the latest economic data deals a death blow to the Democrats' chances in the looming midterms. The latest figures from the Bureau of Labor Statistics show the U.S. economy is still battling inflation while "real…

Biden Tells Voters His ‘Policies Helped, Not Hurt’ on Inflation

Democrat President Joe Biden has tried to claim that his policies have "helped" regrading inflation and have "not hurt" the economy. Biden was grilled on inflation today by CNN White House correspondent Jeremy Diamond. Questions are mounting against the Biden admin as rising costs threaten every part of the economy.…