Fed chief caught in partisan battle over rate cuts as election looms
Interest rates have become an increasingly partisan issue in the run-up to the 2024 election, with Democrats pushing the Fed to cut interest rates and lower borrowing costs, while Republicans are wary of persistently high inflation. Former President Trump has frequently pressed the politically independent Fed to lower interest rates to achieve his political goals […]
‘Addiction’ to Migration Cuts Americans’ Productivity
Business and government “addiction” to migration is undermining the productivity that boosts personal incomes and national wealth, economists cited in a report on Monday. wall street journal. “Increased reliance on low-skilled imported labor could lead to slower productivity growth, which ultimately determines how fast the economy can expand,” the paper said. Ta. I have written […]
Schumer on 6-bill minibus: Proud to keep government open ‘without cuts or poison pill riders’
Senate Minority Leader Chuck Schumer of New York on Sunday hailed the package of six government funding bills as “good news” that would prevent a government shutdown “without layoffs or poison pill riders.” Schumer and congressional leaders unveiled the long-awaited bill Sunday afternoon in hopes of passing the set by March 8, the deadline for […]
Sunak hints at further national insurance cuts in spring budget | Budget 2024 (spring)
Rishi Sunak has strongly hinted that there could be further cuts to National Insurance contributions in next week’s Budget. The First Minister told reporters gathered at the Scottish Conservative Party conference in Aberdeen on Friday that the livelihoods of working people across the UK would be affected, especially at a time when the Scottish National […]
Sen. Kennedy reads horrors of the abortion procedure into Senate record, but uncomfortable Democrat cuts him off
Sen. Sheldon Whitehouse (D) on Wednesday interrupted Sen. John Kennedy (R-Louisiana), who emphasized the horrors of abortion procedures. During the Senate Budget Committee hearing Kennedy clashed with Caitlin Myers, an economics professor at Middlebury College, over the “economic harm of restricting reproductive freedom.” In their exchange, Myers agreed with the phrase, “Reproductive justice is economic […]
Inflation, incomes rose in January as Fed weighs rate cuts
Inflation and personal incomes rose in January, according to federal data released Thursday, another sign of economic strength that could delay a long-anticipated interest rate cut. The personal consumption expenditure (PCE) price index, the Federal Reserve’s preferred measure of inflation, rose 0.3% in January and has risen 2.4% over the past 12 months. Despite the […]
Sony cuts 900 jobs from PlayStation division in latest tech culling
Gaming company Sony announced Tuesday it would cut 900 jobs from its PlayStation division, becoming the latest tech giant to lay off some of its employees. Sony Interactive Entertainment (SIE) President and CEO Jim Ryan announced the dismissal A Tuesday email to PlayStation employees said the cuts amounted to 8% across the company’s locations around […]
The Fed holds firm: No rate cuts despite economic woes
Wall Street investors and economic analysts have been reacting enthusiastically to every possible signal that the Federal Reserve will soon declare defeat for inflation and stop tightening the money supply. Although Joe Biden and his allies constantly insist that the economy is in very good shape as it stands, the Biden administration wants to cut […]
Comptroller Tom DiNapoli cuts NY pension investment in more oil, gas stocks – Newsday
ALBANY — State Comptroller Thomas DiNapoli will cut the state pension fund’s direct investments in eight more oil and gas companies, including ExxonMobil, as part of a plan to fight global warming through Wall Street. DiNapoli argues that investing in oil and gas companies, even blue-chip stocks like ExxonMobil, poses long-term risks for investors. Because […]
Jobless Claims Plunge To 201,000, Creating Further Doubts About Rate Cuts
So much for the idea that January’s surge in employment was an anomaly in a cooling labor market. The number of people who applied for unemployment benefits for the first time in mid-February was 201,000, down from 213,000 the previous week. Economists had expected a slight increase to 216,000. Filing for unemployment insurance is a […]