Treasury Secretary wants a plan within six months. Secretary of the Treasury Janet Yellen asked the Internal Revenue Service to develop an operational plan for deploying the $80…
Read MoreEconomy
Housing Starts Drop Nearly 10 Percent
New construction is at the lowest level since June 2020. The Commerce Department reported the number of housing starts decreased sharply in July. Measured on an annualized rate,…
Read More
Postal Rates to Increase for Holidays
USPS says the hike is temporary. The United States Postal Service filed a notice this week of a temporary price hike for this year’s peak holiday season, which…
Read More
Average Price for Gasoline Below $4
Inflation expectations are also diminishing. On Thursday, AAA posted the national average price of a gallon of regular gas at $3.990, dropping under $4 for the first time…
Read More
Senator Wyden Proposes Oil Company Tax Hike
Tax would be on “excess profits.” Senator Ron Wyden of Oregon is introducing the Taxing Big Oil Profits Act, which he says will accentuate the tax burden of…
Read More
Inflation Eased Slightly in July
The costs of energy and gasoline declined. The Labor Department issued its Consumer Price Index measure for July on Wednesday that showed the pace of price increases slowing…
Read More
U.S. Experiences Decline in Worker Productivity
The annual rate shows the largest drop on record. The Labor Department reported Tuesday that U.S. worker productivity fell sharply in the second quarter. On an annualized basis,…
Read More
Unemployment Claims Increase as Layoffs Rise
The number has reached the highest since November of last year. On Thursday, the Labor Department released its weekly report on the job market. For the week ending…
Read More
Treasury Finds Gas Prices Improved with SPR Releases
Officials estimate fuel releases kept prices 20 to 40 cents lower. The Department of the Treasury released calculations this past week that estimate tapping into the Strategic Petroleum…
Read More
Fed Raises Rates 0.75 Percent Again
Credit tightens as the economy begins to slow. On Wednesday, the Federal Reserve raised its benchmark interest rate by three-quarters of a point for the second straight time…
Read More