Category: Business

The Fed’s Favorite Inflation Indicator Just Spiked Even Higher

The core index of the Federal Reserve’s preferred measure of inflation went up in August, despite a historically aggressive campaign of interest rate hikes intended to slow it. The Personal Consumption Expenditures Price Index (PCE), which measures the value of goods and services purchased by “persons” residing in the U.S., was down slightly in August […]

As Inflation Rages On, More Americans Are Living Paycheck To Paycheck

As inflation continues to batter consumers, the number of Americans living paycheck to paycheck climbed to 60% in August, according to a Friday report from financial services company LendingClub. The increase, up from 57% in September 2021, was driven primarily by a greater portion of six figure earners slipping into a paycheck-to-paycheck lifestyle, according to […]

Twitter Paid Whistleblower $7 Million For His Silence

Just days before whistleblower Pieter Zatko filed a complaint about behavior at Twitter, the company agreed to a $7 million settlement in June that included a nondisclosure agreement, the Wall Street Journal reported Thursday. Zatko, also known online by the pseudonym “Mudge,” was still able to file the whistleblower complaint in spite of the requirement […]

‘$2 Billion Daily’: Potential Rail Strike Threatens Weakened Economy

A group of freight unions representing 90,000 workers could strike next week, potentially exasperating supply chain issues in an already weakened market. Strike concerns came to a head in July when President Joe Biden implemented a “cooling off period,” which mandated a 60-day delay in striking for negotiations to occur, CNN reported. The mandate runs […]

‘Reduce Any Barriers’: Corporate America Is Finally Ditching Vaccine Mandates

Multiple U.S. companies are dropping their COVID-19 vaccination mandates out of desperation to get employees back to the office, according to Axios. Large companies are increasingly lifting their COVID-19 vaccination requirements for employees, Axios reported. After COVID-19-related lockdowns caused the worst global economic downturn since the Great Depression and July’s GDP report revealed Americans are […]

Small Businesses Might Drop Obamacare As Premiums Skyrocket

Health insurance premiums offered under the Affordable Care Act (ACA), colloquially known as Obamacare, will rise next year, hitting small businesses particularly hard and potentially pressuring them to drop out of the program. While recent provisions in the Inflation Reduction Act have provided additional subsidies for individual consumers that will likely offset the increased cost of […]

More Than 10,000 Minnesota Nurses Launch Largest Nursing Strike In US History

The Minnesota Nurses Association (MNA) launched the largest private sector nursing strike in U.S. history on Monday morning due to inadequate pay and short-staffing, Minnesota outlet KARE 11 reported. The MNA is demanding a 30% pay increase over the next three years, in response to staffing shortages, but hospitals, who have offered around 10% raises, […]

Inflation Beats Expectations As Food, Grocery Prices Shatter Records

Inflation was at 8.3% in August, significantly exceeding economists’ predictions with core prices jumping even higher, according to data from the Bureau of Labor Statistics’ Consumer Price Index (CPI). Core prices, which measures all prices less food and energy, remained elevated at 6.3%, slightly higher than July’s 5.9%, according to the BLS. With core prices […]

‘It Ain’t Happening’: MSNBC Host Doesn’t Buy Biden’s Spin On Inflation

MSNBC host Stephanie Ruhle said inflation was stubborn and that a reduction “ain’t happening” during a Tuesday appearance on the network. “Inflation is still stubborn. There’s some very good news when you look across things. Gas prices, one of the biggest drivers of inflation, have been going down for the last 91 days,” Ruhle, who […]