Economy Archives - Page 19 of 21

Inflation Soars to 7.9%, Highest Level in 4 Decades: Biden Blames Putin

Democrat President Joe Biden has claimed that Vladimir Putin is to blame for soaring US inflation after the consumer price index hit another 40-year high of 7.9 percent in February. The latest inflation data was published on Thursday and shows America's inflation rates continuing to soar to staggering levels. However,…

Kremlin Accuses U.S of Waging ‘Economic War’ as Fitch Warns of ‘Imminent’ Russian Debt Default

Russia has accused the United States of waging "economic war" in response to Vladimir Putin's invasion of Ukraine. The allegations from the Kremlin come as Fitch Ratings has once again slashed its credit rating on Russia. The American credit rating agency issued a warning that Moscow defaulting on its sovereign…

AAA Warns Gas Prices Rising at Fastest Pace Ever as Russia Readies More Bombings

The American Automobile Association (AAA) has warned that U.S. gas prices are rising at the fastest pace ever. According to AAA, the average price per gallon of unleaded gasoline jumped 9 cents at domestic service stations Friday to $3.84. It jumped by 7 cents Thursday and a week ago drivers…

World Hits Putin Where It Hurts, Expels ‘Selected’ Russian Banks from SWIFT

The White House has announced that the United States and allies are taking action that could potentially cripple Russia's economy in response to the Ukraine invasion. Western nations have agreed to ban certain Russian banks from accessing the SWIFT international banking system (Society for Worldwide Interbank Financial Telecommunication). The move…

Russia Claims Country Will Survive ‘Emotional’ Market Reaction to Ukraine Invasion

Russia has insisted that it will survive the “emotional” financial market reaction to Moscow’s invasion of Ukraine. Kremlin spokesman Dmitry Peskov responded as Western countries, including the United States, have begun sanctioning Russian entities while promising tougher punitive measures. Peskov said Thursday, just hours after launching the invasion, that Russia…

Renault Production May Be Impacted by Supply Chain Issues in Russia

French automaker Renault has warned that its production may be severely impacted due to supply chain issues in Russia. The company is concerned about the stability of its supply chains in Russia amid rising tensions between the country and Ukraine. Should a conflict break out, it will have repercussions for…

Ex-Obama Economist: Biden Is Wrong on Inflation

A former top economic adviser in Barack Obama's administration has warned that Democrat President Joe Biden is "wrong" about inflation. During an appearance on MSNBC, Steve Rattner, who served as counselor to the Treasury Secretary under Obama, blasted Biden for "being wrong" about "what’s causing inflation." “Well, first of all,…

Cost of Buying a Home Soars as Supply Hits Record Low Levels

The cost of buying a home in America has soared to new highs as the supply levels have hit new lows. The number of mortgage applications from prospective homebuyers has dropped significantly for the week ending Feb. 4. The number of refinancing applications has also dropped off following the rise…

Biden Tries & Fails to Spin Away Devastating Inflation Numbers

Democrat President Joe Bident has tried and failed to spin away the devastating inflation numbers released by the Labor Department today. As Slay News first reported earlier on Thursday, the numbers show that the U.S. inflation rate hit a 40-year high in January. Consumer prices have risen by a staggering…

Consumer Prices Skyrocket 7.5% Higher, Worst Inflation in 40 Years

Consumer prices in America have skyrocketed to the highest rate in 40 years as inflation explodes under Democrat President Joe Biden's economy. As the new year started, U.S. consumer prices jumped by the most in nearly four decades, new figures published by the Department of Labor (DOL) on Thursday reveal.…