There’s A Big, Thorny Issue Dashing Hopes Of Reining In Inflation Anytime Soon
Inflation continues to dog Americans thanks in large part to sky-high housing costs, which aren’t going away in the near future. The cost of renting or buying a home has increased dramatically since President Joe Biden first took office, rising 5.65% from a year ago and 20.5% since January 2021, according to the Federal Reserve […]
Inflation: How much prices for important goods and services have risen under Biden
Prices are up nearly 19% across the board since President Joe Biden entered office, meaning households are suffering sticker shock even if the inflation rate has moderated in recent months. Inflation, as tracked by the consumer price index, rose to 3.5% for the year ending in March, the Bureau of Labor Statistics reported Wednesday. Overall, […]
Dow tumbles 300 points on weak bank earnings, inflation concerns
The threat of more war in the Middle East and disappointing earnings reports from U.S. banks triggered a selloff on Wall Street on Friday. The Dow Jones Industrial Average plunged 475 points to close at $37,983 and is now down about 5% from its all-time high after also breaking the $40,000 barrier that ended March […]
Stocks tumble as inflation jumps, JPMorgan CEO Dimon’s warning and Masters fever
Claman Countdown panelists Stephen ‘Sarge’ Guilfoyle and Gerald Cassidy discuss ‘big finance’, local bank performance and military defense stocks. -Inflation heats up and the Federal Reserve stalls – Stocks fall broadly due to inflation and Fed concerns -JP Morgan CEO Jamie Dimon warns of two major economic risks -The truth about former President Donald Trump: […]
Inflation Spikes Streaming Prices, Piracy Rises, Studios Push for Site-Blocking Laws
Hollywood’s major studios are panicking as video piracy is on the rise again, and the industry’s main lobbying group is pushing Congress to take action against piracy sites that are increasingly eroding studio profits. I am requesting that. At CinemaCon in Las Vegas this week, the Motion Picture Association of America (MPA) announced it would […]
US consumer sentiment falls more than expected as inflation fears rise
MacroMavens President Stephanie Pomboy discusses the economy, the impact of inflation on consumers, and her expectations for fourth quarter GDP. U.S. consumer sentiment and Americans’ economic outlook both fell more than expected in April as inflation expectations rose. The University of Michigan Consumer Confidence Index released Friday was 77.9, down from 79.4 in March. Economists’ […]
Most Americans say Biden made inflation, illegal immigration worse: Poll
WASHINGTON — Most Americans argue that President Biden has made two of this year’s general election key issues, the cost of living and illegal immigration, worse rather than better during his term. Fifty-eight percent say Biden’s approach to the cost of living hurts “a little bit” or “a lot,” according to an Associated Press-NORC Center […]
1 in 3 Americans maxing out credit cards because of inflation: survey
Survey respondents said they are maximizing their credit card usage to cover living expenses. (iStock) Economic hardship has led more people to rely on credit cards for living expenses, with some even maxing out their credit cards to cope with inflation and price increases, according to a recent study. Credit card balances soared to over […]
Mortgage rates are nearing 7% as inflation ticks back up: Freddie Mac
According to Freddie Mac, the average interest rate on a 30-year fixed-rate mortgage last week was 6.88%. (iStock ) Mortgage interest rates continue to rise steadily. Last week, 30-year mortgage rates averaged 6.88%. Reported by Freddie Mac. Last week, interest rates averaged 6.82%, and a year ago, the average interest rate on a 30-year fixed-rate […]
Biden’s Fighting Inflation with Student Loan Plan
On Bloomberg’s Thursday broadcast of “Balance of Power,” Heather Boushey of the White House Council of Economic Advisers said President Joe Biden’s student loan plan would “lower student loan costs for all borrowers” to combat inflation. He said he is fighting the effects. He announced earlier in the week. Mr. Bushey said:[T]The President has been […]