White House appears ready to negotiate. President Biden has submitted his budget to Congress. The $6.8 trillion budget addresses four main areas—deficit reduction, lower costs for families, Medicare…
Read MoreInterest Rates
Fed Rate Hikes Could Come Quicker
Chairman Powell cites an unexpectedly strong economy. The Federal Reserve may speed up interest rate hikes more than expected in their endeavors to combat inflation, Federal Reserve Chairman…
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Another January Inflation Marker Higher Than Expected
President says there is more work to do. The Federal Reserve’s preferred method of measuring inflation, the Personal Consumption Expenditures Price Index (PCE), rose to an annualized 5.4 percent…
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Nation’s Household Debt at $16.9 Trillion
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 MoreFed 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…
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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…
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Over 100K Jobs Cut in January
The report says, the worst January since 2009. Tech companies led the nation in job reductions in January, with around 40 percent of over 103,000 jobs that were…
Read MoreJob Creation Higher than Expected in December
The president applauds the report. The Department of Labor announced that 223,000 jobs were added to the U.S. economy in December. Officials report that the unemployment rate has…
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November Home Sales Lower Than Expected
It is the sixth straight month of decline. The National Association of Realtors (NAR) reported that pending home sales fell 4 percent in November from the prior month.…
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Wells Fargo to Pay for Legal Violations and Mismanagement
Government bureau finds the bank mistreated millions of customers. The Consumer Financial Protection Bureau (CFPB) has ordered Wells Fargo Bank to pay restitution of over $2 billion to…
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