Economy Archives - Page 13 of 21

Kashkari: Fed ‘Far, Far Away’ from Beating Inflation despite White House Victory Lap

Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, has warned that the Central Bank is “far, far away from” beating inflation, despite the recent victory laps from the White House. Kashkari was responding to the Biden administration recently praising “zero percent” inflation in July, which prompted some…

Number of Homes for Sale Across US Soars

The number of homes listed for sale across the United States has soared to a record high in July, according to reports. A new report published by Realtor.com on Tuesday signals that higher mortgage rates and soaring prices are decreasing consumer demand for housing. The growing number of homes for…

China Locks Down World’s Largest Wholesale Port, Threatening Global Supply Chain Disruption

The Chinese Communist Party (CCP) has locked down the port of Yiwu City in East China, the world's largest wholesale hub, according to reports. China placed Yiwu, a city of 1.85 million people, under lockdown in response to a new outbreak of COVID-19. Meanwhile, the CCP has also placed the…

The Story Behind Federal Government’s July Jobs Report

Democrat President Joe Biden is celebrating the better-than-expected July jobs report, calling it “the result of my economic plan to build the economy from the bottom up and middle out.” The White House had initially anticipated a lower figure ahead of the report's Friday release. However, the Biden administration…

White House: Americans Who Think We’re in a Recession Are Actually Just Confused

Americans who believe that the United States is in a recession are just confused, according to White House economic adviser Jared Bernstein. Bernstein claims that Americans who think the country has fallen into a recession are basically confused about the source of their economic pain. The top economic adviser to…

Inflation Forces 45% of Americans to Cut Groceries Spending, Poll Shows

The squeeze from inflation in the United States is forcing a huge percentage of Americans to cut back on their spending on groceries, according to a new poll. A recent survey from Suffolk University/USA TODAY (pdf) reveals that 45.3 percent of Americans have had to cut back their spending on…

Janet Yellen Denies US Economy Is in Recession despite Recessionary GDP Numbers

Treasury Secretary Janet Yellen has doubled down on the Biden administration’s view that America’s economy has not, in fact, fallen into a recession, despite the White House's own economic data proving otherwise. On Thursday, the Bureau of Economic Analysis (BEA) released data showing the U.S. economy met the rule-of-thumb definition…

Wealthy Joy Behar Tells Americans Not to Worry About Biden’s Recession: ‘Inflation Comes and Goes’

Joy Behar and her co-hosts on "The View" have tried to downplay Democrat President Joe Biden’s recession after the White House released data that showed two consecutive quarters of negative growth. The hosts were joined on the show by White House Press Secretary Karine Jean-Pierre. Jean-Pierre claimed that the latest…

U.S Economy Crashes into Contraction for First Time Since 2020

The United States economy has suffered a major downturn in July, crashing into contraction for the first time since the impact of the pandemic hit in 2020. The downturn has been led by a crash in service sector activity and a decline in manufacturing production. The plummet was revealed in…

Morgan Stanley Warns Bear Market ‘Not Over,’ Even If We Avoid Recession

American multinational investment bank Morgan Stanley has warned that the current bear market is "not over" amid recent positive signals. A brief bounce back in the stock market may be short-lived amid chronic inflation, according to analysts at Morgan Stanley and Goldman Sachs Group, Inc. The likelihood of a recession being on…