Inflation Archives - Page 9 of 16

Biden Official: Paying High Gas Prices Helps Preserve ‘Liberal World Order’

A senior Biden administration official has defended high gas prices by arguing that drivers are helping to preserve the "liberal world order." On Thursday National Economic Council Director Brian Deese defended Democrat President Joe Biden’s remarks that U.S. drivers should expect to pay higher prices at the pump until the…

Gas Prices Fall Below $4.90 a Gallon as Recession Fears Mount

Gas prices in the United States have fallen below $4.90 a gallon as fears of an upcoming recession continue to mount. As of Monday, the national average for a gallon of gasoline is $4.897, according to AAA. The price is down from the historic highs of over $5 a gallon seen…

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…

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…

Mysterious Explosion at Texas Fuel Plant Was Likely Intentional, Expert Claims

A leading national security expert has claimed that the recent unexplained explosion at a Texas fuel plant was most likely intentional. According to Tom Rogan, the mysterious explosion at the Freeport LNG plant on Quintana Island in Texas on June 8 may have been sabotage. Rogan, the national security writer…

Deutsche Bank Officials Warn Growing Inflation, Rising Interest Rates Make Recession More Likely

Deutsche Bank's top U.S. economists are warning that growing inflation and rising interest rates are making a recession increasingly more likely. Speaking during a Tuesday interview with CNBC, Deutsche Bank CEO Christian Sewing noted that Western economies in Europe and the United States are facing a greater likelihood of recession…

Biden Cracks Awful Joke about Recession, Fails to Get Any Laughs: ‘Now, You’re Sounding like a Republican’

Democrat President Joe Biden was talking to reporters at the beach today when he cracked an inappropriate joke about the looming recession. A reporter said: “Economists are saying a recession is even more likely than ever.” Biden said: “No, the majority of them aren’t saying that. "Come on. Don’t make…

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…

Ex-Obama Economic Advisor Larry Summers Warns ‘Recession Is Ahead’

Larry Summers, the former economic advisor and Treasury Secretary in Barack Obama's administration, has warned that Democrat President Joe Biden is leading America toward "a recession." Summers warns that previous periods of high inflation and unemployment, like the one we are currently in, have led to recessions within a “year…

Jerome Powell: Fed Is ‘Acutely Focused’ on Fighting Inflation

Federal Reserve Chairman Jerome Powell has insisted that curbing inflation and restoring stability to the U.S. dollar is one of the Fed's highest priorities. Powell spoke before the Board of Governors of the Federal Reserve on Friday. Speaking in his customary address to the Fed’s Board, Powell made a point…