Economy Archives - Slay News

US Consumer Sentiment Falls to Near 10-Year Low in May

Consumer sentiment in the United States has fallen to an almost ten-year low in May, new data reveals. The drop was revealed in the final May edition of the University of Michigan’s Sentiment Survey, which was released on May 27. The index fell from 65.2 in April to 59.1 in…

Elon Musk Issues Warning to ‘Woke’ Americans: ‘Rude Awakening Inbound’

Tesla CEO Elon Musk issued a warning to "woke" Americans that they are in for a "rude awakening" as the corporate world will soon leave them behind. Musk blasted "stay-at-home" workers that believe they "don’t actually need to work hard" to succeed in the world. The tech entrepreneur was discussing…

Germany Narrowly Avoids Recession as Pandemic, Ukraine Invasion Weigh Heavily on Economy

Germany has narrowly avoided a recession in the first quarter as its economy comes under increasing pressure from the Ukraine invasion and the lingering impact of the pandemic. The war and the effects of pandemic restrictions are weighing on German economic activity. However, Europe’s biggest economy still managed to eke…

Jesse Watters: Majority of Americans Agree That Biden Is ‘Incompetent’

Fox News host Jesse Watters has called out Joe Biden by arguing that the majority of Americans agree that the Democrat president is "incompetent." Watters listed Biden’s failures in office before declaring that "Americans are fed up." “I don’t want a piece of you," the host said during his show…

Gas Price Jumps 33 Cents in 2 Weeks, Analysts Warn of $6 per Gallon by August

As the average gas price continues to soar in the United States, analysts are now warning that Americans could be paying $6 per gallon by August. According to the Lundberg Survey, the average price of regular-grade gasoline spiked 33 cents over the past two weeks to $4.71 per gallon. On…

UK Consumer Confidence Hits Lowest Level since Records Began

Confidence among UK consumers has hit the lowest level since records began nearly five decades ago, according to a new report. The worrying drop in consumer confidence was revaled by business intelligence firm Growth from Knowledge (GfK). GfK’s long-running Consumer Confidence Index decreased two points to minus 40 in May.…

Wells Fargo CEO Warns Worst Is Yet to Come for Americans: ‘No Question’

The CEO of Wells Fargo Charles Scharf has warned that there's "no question" that life is going to get far harder for many Americans before it gets better. During a Wall Street Journal event this week, Scharf warned that the U.S. economy is about to get far worse. “It’s going…

White House Makes Worrying Admission about Stock Market

White House Press Secretary Karine Jean-Pierre has admitted that President Joe Biden's administration is not monitoring the stock market on a regular basis. The news comes as the Dow Jones Industrial Average plunged 1,100 points Wednesday. Speaking to reporters on Wednesday, Jean-Pierre said that “nothing has changed on how we…

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…

Jeff Bezos Praises Manchin for Stopping Biden Adding ‘Another $3.5 Trillion to Federal Spending’

Amazon founder Jeff Bezos has praised Democrat Sen. Joe Manchin (D-WV) for stopping President Joe Biden from adding trillions more dollars to federal spending. Bezos, the second richest man in the world, hammered Biden for the third time in a week on Twitter. He blasted the Democrat president over inflation…