Inflation Archives - Page 2 of 15

Businesses Are ‘Extremely Cautious’ Heading into New Year

American businesses are remaining "extremely cautious" as they head into the new year as recession fears continue to weigh heavy for 2023. One of the most hotly debated topics of 2022 has been the question of whether or not the U.S. economy is in recession. Yet corporate America is bracing…

Ex-Treasury Secretary: Recession Is Coming and It Won’t Be Mild

Larry Summers, who served as Bill Clinton's Treasury Secretary and Barack Obama's National Economic Council advisor, has warned that a recession is coming and that it will not be a mild one. Speaking during an interview with MSNBC on Thursday, Summers said that the Federal Reserve will have to face…

American Consumers’ Sentiment on Economy Plummets, New Survey Shows

Sentiment regarding the U.S. economy is plummeting among American consumers, a new survey has revealed. Consumer sentiment fell this month, despite upwardly revised figures, according to the University of Michigan. In a newly released survey, the consumer sentiment index for November had deteriorated less than expected and was revised to…

US Inflation Dips Below 8 Percent for First Time since February

Inflation rates in the United States have dipped below 8 percent for the first time since February. According to new data from the Bureau of Labor Statistics (BLS), the U.S. annual inflation rate eased to 7.7 percent in October. The figure is down from 8.2 percent in September. The core…

Auto Loan Delinquencies Hit Highest Level in a Decade as Borrowing Costs Soar

Delinquencies on auto loans have hit their highest levels in a decade as growing numbers of American fail to meet their repayments amid soaring borrowing costs. The data was revealed by the credit agency TransUnion, which tracks more than 81 million auto loans throughout the United States. According to TransUnion,…

Rattner: High Inflation ‘Not All on Biden’ as Trillions in Fed Stimulus Partly to Blame

Former Obama administration adviser Steve Rattner said on Thursday that the Biden administration is not entirely to blame for soaring inflation. According to Rattner, continued public spending of large amounts of COVID-19 stimulus is partly to blame. Rattner, who served as an adviser to the Secretary of the Treasury under…

MSNBC’s Joy Reid: Republicans ‘Have Taught People the Word Inflation’ to Smear Democrats

MSNBC host Joy Reid has claimed that conservative voters had never heard the word “inflation” until Republicans turned it into a campaign issue to use against Democrats for this year’s midterms. Appearing as a guest on Thursday’s "Deadline: White House," Reid said: "The only people I ever hear use the…

Biden Lies about Son’s Death Again While Blaming Inflation on ‘War in Iraq’

Democrat President Joe Biden has been caught lying about his son's death again during a gaffe-filled speech on Tuesday. Biden made multiple flubs in quick succession during his slurring speech in Florida on the state of the economy. During the address, Biden blamed the "war in Iraq" for America’s current inflationary…

Japan Announces $485 Billion Spending Package to Counter Soaring Inflation

Japan’s prime minister has announced a massive spending package that seeks to counter the nation's rising inflation. On Friday, Prime Minister Fumio Kishida said that his government will spend about 71.6 trillion yen ($485 billion) on economic stimulus. The spending is aimed at helping households and businesses cope with inflationary…

Yellen Admits Inflation Could Get Worse but Has ‘Confidence’ It’ll Get Better, Eventually

Treasury Secretary Janet Yellen has admitted that inflation could get worse but insists that she has "confidence" that price pressures will ease “over the next year or two.” Yellen made the remarks during a Monday interview on NBC News. She said there are “good indications” that inflation will eventually drop…