Jerome Powell received bipartisan support. The Senate on Thursday voted 80-19 to give Federal Reserve Chairman Jerome Powell a second four-year term, keeping him as the head of…
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Administration Cancels Oil and Gas Drilling Leases
Gulf of Mexico and Alaska Coast are affected. President Biden’s administration canceled plans to auction drilling rights in three regions off the U.S. coastline later this year, adding…
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President Says Inflation is Top Domestic Priority
Meanwhile, gas prices hit all-time high. President Biden stated on Tuesday that addressing inflation is his “top domestic priority” particularly as midterm elections loom. “I want everyone to know…
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White House Economist Discusses Recession Threat
U.S. is equipped for downturn, he said. America’s gross domestic product (GDP) shrank by 1.4 percent in the first quarter of 2022 after posting significant gains to round…
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Fastest Rate Hikes in Decades Coming from Federal Reserve
Latest attempt to fight inflation. The Federal Reserve is poised this week to accelerate its most extreme steps in three decades to attack inflation by making it costlier…
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American Farmers Facing Long-Term Challenges
USDA projects costs of production continue to rise. Rising costs of fertilizer and equipment could cause long-lasting problems for the agriculture industry, a fifth-generation farmer said in an…
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Weekly Unemployment Claims Lowest in 52 Years
Continuing claims also decrease. According to the report from the Department of Labor on Thursday, fewer people are receiving unemployment benefits now than they have in over half…
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Meatpacking CEOs Agree to Testify in Congress
Will discuss rising meat prices with Agriculture Committee. The CEOs of Cargill, Tyson, JBS, and National Beef Packing have agreed to testify before the House Agriculture Committee. The…
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Inflation Rises to 8.5 Percent in March
Greatest increase in 41 years. The latest Consumer Price Index numbers show inflation is climbing even higher, making it more difficult for Americans to pay their bills and…
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USDA Predicts Food Prices to Continue Rising
Increases are the highest in decades. A new report from the U.S. Department of Agriculture, known as its Food Prices Outlook for 2022, indicates that people will soon…
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