Economy Archives - Page 14 of 21

Retail Sales Rose in June but Down When Inflation Taken into Account

Retail sales in the United States saw a 1 percent rise in June but were down when the impact of inflation is taken into account. The change is largely due to higher prices for food and gas, led by inflation and not sales volumes. The news was revealed by the…

Economist Who Correctly Predicted Inflation Is Now Predicting More to Come

The economist who correctly predicted today's inflation is now warning that there's more to come. Hundreds of economists employed by the Federal Reserve were apparently blindsided by the current wave of inflation. Meanwhile, there were economists who got their predictions right. Not only have they got the overall inflation number…

Biden’s Inflation-Tackling Just ‘Theater,’ Top Republican on Ways and Means Committee Warns

The top Republican on the House Ways and Means Committee has warned that Democrat President Joe Biden’s efforts to tame soaring inflation are nothing more than a “political gimmick” and “theater.” Rep. Kevin Brady (R-TX), the Republican Leader on the House Committee on Ways and Means, argues that Biden's proposals—like rolling…

Bank of England Warns Lenders to Prepare for Coming Economic Storm

The Bank of England has issued a warning to lenders to prepare for a coming economic storm. In a warning Tuesday, the bank asserted that the global economic outlook has "deteriorated markedly." International institutions, such as the International Monetary Fund (IMF) and Organisation for Economic Co-operation and Development (OECD), say…

Trump Reveals What Inflation Would Be like If He Were Still President

President Donald Trump has declared that the Biden administration's decades-high inflation would have never happened on his watch. Trump discussed the economy in his Fourth of July message as many American households are battered by soaring everyday costs. In a post on his Truth Social platform, Trump wished his 3.4…

Large Chicken Processing Plant Shuts Down Suddenly amid Soaring Costs, Widespread Shortages

A large Tennessee chicken processing plant has shut down suddenly, citing soaring costs amid record-high inflation. George’s Inc., one of the nation’s largest vertically integrated chicken producers, is closing down one of its plants in Campbell County. The news came as a shock to employees and locals, with around 200…

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…

FedEx to Start Taking Photos of Packages on Doorsteps for Proof of Delivery

Courier company FedEx will begin taking photographs of packages on doorsteps across North America to provide proof of delivery. The move makes the company the first nationwide carrier to do so in the United States and Canada. Announcing in a Wednesday press release, FedEx said the new protocol is part…

Germany’s Producer Price Soars to Record High as Inflation Raises Production Costs

Germany’s producer prices hit a record high in May as soaring energy costs and inflation continue to push production costs through the roof. The latest figures suggest households in Europe’s biggest economy should brace for even higher consumer price inflation. At least a portion of higher business costs tends to…