Greatest increase in two decades hits record. A new report from the Federal Reserve reveals that U.S. household debt has risen to a record $16.9 trillion in the…
Read MoreInflation
President Appoints New Economic Adviser
Lael Brainard was vice chair of the Federal Reserve System. President Biden has named a replacement for Brian Deese as his primary economic advisor. He has appointed Lael Brainard…
Read More
January Inflation Higher Than Expected
Labor Department reports inflation now at a 6.5 percent annual rate. The U.S. Department of Labor released its January consumer price index Tuesday which reflected a half percentage…
Read More
IRS Changes Tax Brackets for 2023 Tax Year
Officials cite inflation as the reason for the changes. The Internal Revenue Service announced it is making multiple changes to its tax code for 2023. They are including…
Read More
SNAP Program Ending for Millions
Pandemic-era food assistance already stopped in some states. More than 41 million Americans receive benefits through the nation’s Supplemental Nutrition Assistance Program (SNAP), also known as food stamps. Next…
Read More
Fed Chair Says There is a “Long Way to Go” on Inflation
He also calls America’s debt unsustainable. Federal Reserve Chairman Jerome Powell said there is “a long way to go” before economic stability is achieved in the U.S. He…
Read More
Contraband Eggs Piling Up at Southern Border
Federal law prohibits their import from Mexico. Egg prices continue to rise, and Senator Jack Reed of Rhode Island has called for a congressional investigation as to why…
Read More
Labor Department Reports Higher Job Gains than Expected
The leisure and hospitality industries experience the greatest gains in January. The latest Labor Department jobs report shows the U.S. added 517,000 jobs in January, outstripping the forecast…
Read More
Gas Prices at the Pump Going Up Again
Nation seeing its fifth straight week of increase. According to data compiled by Gas Buddy, Americans are likely to see gasoline prices reach $4 a gallon and more. In…
Read More
Consumer Spending Dropped in December
The drop could indicate that inflation is starting to cool. The Commerce Department reported that American household spending dropped by two-tenths of a percent in the month of…
Read More