Economists are in agreement that New Zealand’s RBNZ will maintain interest rates for the time being.
The Reserve Bank of New Zealand (RBNZ) is anticipated to maintain the Official Cash Rate (OCR) at 2.25% for the third time, as ongoing effects from the Iran conflict are weighing on economic growth and pushing inflation higher. The RBNZ will announce its interest rate decision at 2:00 AM Japan time, alongside the Monetary Policy […]
Economists caution that Mamdani’s public grocery stores may negatively impact NYC grocers.
Concerns Grow Over NYC’s City-Owned Grocery Store Initiative As Mayor Zoran Mamdani pushes ahead with his plan to establish a city-owned grocery store in New York City, there are rising concerns among economists and local business owners. They argue that this initiative could significantly harm small grocery shops and impose a substantial financial burden on […]
Economists and energy specialists criticize Gavin Newsom’s Chevron boycott.
California’s Call for Chevron Boycott Meets Criticism Economists and energy analysts are pushing back against California Governor Gavin Newsom’s recent suggestion to boycott Chevron, asserting that the state’s escalating gas prices are a direct result of his anti-energy policies. This week, Newsom encouraged drivers in California to steer clear of Chevron stations during the Memorial […]
Recent survey reveals economists are against AOC’s $30 minimum wage proposal.
Economists are expressing concerns about a bold proposal from Rep. Alexandria Ocasio-Cortez, which aims to increase the federal minimum wage to $30 an hour. Many believe this could have adverse effects on the very individuals it aims to help. A recent study from the Employment Policy Institute indicates a high level of skepticism among U.S. […]
Economists caution that beef prices will remain high for years as the cattle population declines.
Beef prices aren’t expected to dip anytime soon, with economists suggesting the pressures in the market could persist for years. The U.S. cattle herd has shrunk to its smallest size in 75 years, largely due to prolonged drought conditions, skyrocketing feed costs, and an aging workforce in ranching. “Drought is the biggest factor,” noted Eric […]
US economy expands 2% in Q1, falling short of economists’ forecast of 2.3%
Economic Update: U.S. Growth in Q1 According to the latest estimates from the Commerce Department, U.S. economic growth has made a recovery in the first quarter, bouncing back from a decline in the fourth quarter. The U.S. Bureau of Economic Analysis (BEA) reported that the economy expanded at an annualized rate of 2% over the […]
Elon Musk’s idea of a ‘universal basic income’ to address job losses from AI confuses economists.
On Friday, Elon Musk stirred conversation by proposing that a “universal high income” from the federal government might be the best strategy to tackle job losses resulting from artificial intelligence (AI). In a post on his platform X, he stated, “Universal high income through checks issued by the federal government is the best way to […]
Recall: Economists cautioned about Trump’s tariffs—here’s what they expressed
Exactly one year ago, President Trump unveiled a new set of global tariffs, stirring up trade tensions with various countries and fueling fresh fears about the future of both the U.S. and global economies. Dubbed the “Emancipation Day” tariffs, this sweeping import tax was presented by Trump as a way to address long-standing trade imbalances […]
DHS shutdown has resulted in at least $2.5 billion in losses so far, according to economists
Economic Impact of DHS Shutdown WASHINGTON — According to White House economists, the ongoing month-long shutdown of the Department of Homeland Security has caused an estimated $2.5 billion loss to the economy. This figure is in addition to over $90 billion in losses resulting from last year’s unprecedented shutdowns. The current estimate from the White […]
Kevin Hassett urges the New York Federal Reserve to take action against economists for their tariff studies
Economic Advisor Critiques Tariff Study In a recent discussion, White House economic adviser Kevin Hassett voiced strong opinions about a study from the New York Federal Reserve. This study suggested that the majority of the burden from tariffs implemented during the Trump administration fell on American businesses and consumers. Hassett’s comments were pointed: “This paper […]