Consumer spending was stronger than reported and prices higher.
Consumer spending was stronger than reported and prices higher.
Record high inflation under Democrat President Joe Biden’s economy — especially in the energy and food categories — is steering consumers away from expensive sustainable products and toward cheap alternatives.
A food bank has complained at a lack of “culturally appropriate” food, noting around 80 per cent of those who use the food bank are Muslim.
This week we will see crucial evidence on the progress of the Federal Reserve’s campaign to loosen labor market conditions.
On Tuesday’s broadcast of “CNN This Morning,” Bank of America CEO Brian Moynihan stated that there was too much COVID stimulus, and “Now, we have to adjust to that decision. And that’s why you’re seeing the Fed tighten quick.” Moynihan
President Joe Biden said Tuesday that people were only starting to see the effects of his multi-trillion dollar spending agenda, despite Americans continuing to struggle with higher prices from inflation.
The buzzword this Black Friday is “muted.”
On Wednesday’s broadcast of Bloomberg TV’s “Balance of Power,” Moody’s Analytics Chief Economist Mark Zandi predicted that 2023 “is going to be a pretty tough year” because we won’t “see the full effects of what the Fed’s done for well into”
Nearly half of U.S. consumers say they will spend less this holiday season, data from DealAid’s 2022 Holiday Shopping & Inflation report found.
Manufacturers reported raising prices even more in November than in October or September.
On Monday’s broadcast of CNBC’s “Closing Bell,” President and Chief Executive Officer of the Federal Reserve Bank of Cleveland Loretta Mester predicted that while there will be substantial progress on inflation in 2023, “We won’t be back to 2%,” and “growth
Prices are up for almost everything that American families serve at Thanksgiving.
Two-thirds of Americans say rising prices across the board will affect their Thanksgiving plans this year, a survey from The Vacationer revealed.
The president met with a group of business and labor leaders on his imitation White House video set to talk about the economy, and delivered about seven minutes of remarks before sending the press out of the room.
Real wages in Britain are not expected to return to 2008 levels until 2027 due in part to the financial mismanagement of the Tory government.
Supermarkets in the UK have reportedly begun rationing eggs as the supply of the staple food is drastically impacted by both bird flu and the ongoing inflation crisis.
Here we go again. The Commerce Department on Wednesday said that consumer spending grew by 1.3 percent compared with September, when spending was unchanged with the prior month. Compared with a year ago, retail sales were up 8.9 percent. Total
As it faces an uncertain financial outlook and the prospect of a prolonged recession, the Walt Disney Co. has hiked the price of its admission to its Disney World parks in Orlando, Florida. The price hikes — the second increases in less than. a year — will see the price of admission to the Magic Kingdom soar as high as $189 for peak dates.
During a portion of an interview with NBC News on Monday aired on Tuesday’s edition of MSNBC’s “Morning Joe,” Treasury Secretary Janet Yellen stated that she thinks there are “good indications” that show inflation “is poised to come down,” but
The rising cost of goods will impact the Thanksgiving holiday for the vast majority of Americans, a recent FinanceBuzz survey found.
Underlying inflation slowed in October but rising gas prices kept the producer price index higher.
Food prices in Germany have spiked by just under 40 per cent over last year, with potatoes spiking by as much as 70 per cent in 12 months.
On Monday’s broadcast of the Fox News Channel’s “America Reports,” Rep.-elect George Santos (R-NY) stated that while some congressional investigations are worthwhile, “they shouldn’t hold priority over the issues at hand which are affecting every American’s day-to-day life” that won
Economic confidence slumped in October, partially undoing the climb in confidence seen in the previous three months, the most recent Gallup poll shows. Gallup’s economic confidence index fell to a reading of minus 45, the lowest since July. A month
Argentina’s Minister of Labour, Employment, and Social Security Kelly Olmos said on Sunday that it was preferable for Argentina to win the 2022 World Soccer Cup rather than vanquish its out-of-control inflation, giving more importance to a soccer tournament than to the country’s economic policy during the tournament.
On Saturday’s broadcast of the Fox News Channel’s “Fox News Live,” Rep. John Garamendi (D-CA) acknowledged that the Inflation Reduction Act was primarily a green energy bill. Host Aishah Hasnie asked, [relevant exchange begins around 3:40] “I have to ask you,
On Friday’s broadcast of CNBC’s “Squawk Box,” New Jersey Gov. Phil Murphy (D) called for the Federal Reserve to remain aggressive on inflation. He also noted that New Jersey, like many other states, has unspent COVID relief money along with
During an interview aired on Friday’s broadcast of Bloomberg’s “Wall Street Week,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers stated that while the October inflation
Britain’s Chancellor of the Exchequer is laying the groundwork for a series of tax hikes and service cuts in the name of fighting inflation.
Republican Senator Mitt Romney wants to cut inflation by cutting Americans’ wages, including the wages earned by the GOP’s own voters.
On Thursday’s broadcast of CNBC’s “Closing Bell,” National Economic Council Director Brian Deese said that while the October inflation report is welcome, “there can be unexpected setbacks. There can be bumps in the road” and he’s not willing to say
On Thursday’s “ABC News Live,” ABC News Business Reporter Alexis Christoforous stated that the price declines in the October Consumer Price Index (CPI) report are in things that “are more discretionary. They’re not the necessities we all need” and that
On Thursday’s broadcast of Bloomberg’s “Balance of Power,” White House Council of Economic Advisers member Jared Bernstein said that he agrees with President Joe Biden’s vow to not change his policies and Biden “is on extremely solid ground” and “there’s
On Thursday’s broadcast of Newsmax TV’s “Wake Up America,” Rep. Ben Cline (R-VA) reacted to the October Consumer Price Index (CPI) inflation numbers by stating that we’re seeing large inflation in energy and that’s before a projected 17% increase in
“It’s only when the tide goes out that you learn who has been swimming naked,” Warren Buffet famously said.
“This is the lie that got us inflation,” Breitbart Economics Editor John Carney said in response to President Biden’s remarks touting his spending policies and dodging blame for inflation.
This will likely be the most expensive Thanksgiving ever for most American families.
Riots broke out in Athens as thousands of people protested in response to the soaring inflation rates befalling the country.
President Joe Biden on Thursday defended his economic policies as data showed consumer prices continued to climb in October.
Economists had expected prices to be up 7.9% compared with a year ago.