The $1.9 trillion stimulus package that President Biden signed shortly after taking office has become both the anchor and pillar of his re-election campaign. The American Rescue Plan that the Biden administration crafted and Democrats passed in March 2021 has fueled voter discontent in sometimes paradoxical ways. Some Americans blame the law, which provided direct…
Federal Reserve officials face an uncertain summer. They aren’t sure how quickly inflation will cool, how much the economy will slow, or how long interest rates will have to stay high to ensure rapid price increases are fully overcome. What they do know is that the job market and the overall economy are holding up…
Russian President Vladimir Putin is seen during a visit to the Lakhta Center in Saint Petersburg, Russia, June 5, 2024. Vladimir Putin visited a newly built Lakhta Center, a Gazprom skyscraper, ahead of his meetings at the St. Petersburg International Economic Forum SPIEF 2024. Contributor | Getty Images News | Getty Images Russia’s annual economic…
The US economy has been a mystery in recent years. The job market is booming and consumers are still spending money, which is usually a sign of optimism. But if you ask Americans, many will tell you they feel bad about the economy and are unhappy with President Biden’s economic record. Call it the vibecession….
A view shows the US Capitol in Washington, USA, May 9, 2024. Kaylee Greenlee Beal | Reuters The national debt, which has risen by almost 50% since the early days of the Covid pandemic, is causing heightened concern on both Wall Street and Washington. The federal IOU currently stands at $34.5 trillion, about $11 trillion…
Commuters in London. Jason Alden/Bloomberg via Getty Images Britain’s economy emerged from recession as gross domestic product rose 0.6% in the first quarter, official figures showed on Friday, beating expectations. Economists polled by Reuters had forecast growth of 0.4% for the previous three months of the year. The UK entered a shallow recession in the…
Scott Kidd didn’t expect a particularly busy job when he became city manager of Liberty, North Carolina, a former furniture and textile center whose rhythm more recently has centered around an annual antiques festival. Those quiet times less than three years ago soon turned into a whirlwind. Toyota announced plans to build a battery factory…
Libre, part of the political network founded by the billionaire industrialist Koch brothers, will unveil a seven-figure voter engagement and advertising campaign on Monday aimed at members of Congress who have supported President Biden’s “punitive economic policies.” The campaign, one of the group’s most extensive, includes digital ads, public events at Hispanic grocery stores and…
The U.S. economy remained robust earlier this year, with a strong labor market leading to robust consumer spending. The problem is that inflation has also been resilient. Inflation-adjusted gross domestic product rose 1.6 percent annually in the first three months of the year, the Commerce Department said Thursday. That was a significant decline from the…
U.S. economic growth was much weaker than expected at the start of the year and prices rose faster, the Commerce Department reported Thursday. According to the ministry’s Bureau of Economic Analysis, gross domestic product, a broad measure of goods and services produced in the January-March period, rose a seasonally adjusted 1.6% on an annual basis….
