Business Highlights: Spending ramps up, Pfizer inks deal
3 years, 1 month ago

Business Highlights: Spending ramps up, Pfizer inks deal

Associated Press  

___ Defying inflation, Americans ramped up spending last month WASHINGTON — Many Americans have taken a darker view of the economy as inflation has worsened. ___ Ping-pong ball bounce could determine vaccine mandate’s fate The fate of President Joe Biden’s mandate that larger employers require workers to be vaccinated could come down to the bounce of a ping-pong ball. ___ Pfizer agrees to let other companies make its COVID-19 pill LONDON — Drugmaker Pfizer Inc. has signed a deal with a U.N.-backed group to allow other manufacturers to make its experimental COVID-19 pill. ___ ‘We don’t deserve this’: Inflation hits Turkish people hard ISTANBUL — Many people in Turkey are facing increased hardship as prices of food and other goods have soared. ___ Scion of Polish nobility jailed in property restitution case WARSAW, Poland — A Warsaw court has confirmed the arrest order for a Polish businessman who is a descendent of one of Poland’s aristocratic families.

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History of this topic

New inflation numbers threaten Trump and GOP's plans for tax cuts and tariffs: report
1 week, 5 days ago

New inflation numbers threaten Trump and GOP's plans for tax cuts and tariffs: report

Raw Story  

New Labor Department data released Wednesday showed stubborn inflation continued, which could make it difficult for President-elect Donald Trump and his GOP allies to pass certain legislation they've planned. While the consumer price index increased 2.7 percent in November from 2023, it was also larger than September's 2.4 percent rise, The Washington Post reported. "While Trump criticized President Joe Biden’s …

Growth, inflation, jobs: Biden and Trump’s economic records compared
5 months, 3 weeks ago

Growth, inflation, jobs: Biden and Trump’s economic records compared

Al Jazeera  

US voters view the economy as their number one priority ahead of November’s presidential election. United States President Joe Biden and former US President Donald Trump’s first debate of the 2024 campaign has refocused attention on their respective economic records in office. Inflation Biden’s tenure has been marked by far higher inflation compared with Trump’s – although many of the …

Biden sets up for an election fight with his budget proposal
1 year, 9 months ago

Biden sets up for an election fight with his budget proposal

Al Jazeera  

Biden’s proposal will face stiff opposition in Congress and has ‘little-to-no shot’ at becoming law, experts say. The White House refers to it as the “billionaire minimum income tax.” The budget includes a proposal to raise the corporate tax rate to 28 percent, higher than the current level but still below the 35 percent tax rate that prevailed before 2017 …

Column: Republicans keep harping on inflation, but don’t have any answers for it
2 years, 1 month ago

Column: Republicans keep harping on inflation, but don’t have any answers for it

LA Times  

President Ford wears one of his “Whip Inflation Now” buttons at an Oval Office meeting with keyboardist Billy Preston, left, and Beatle George Harrison in 1974. Under the rubric “Fight Inflation and Lower the Cost of Living,” the document states, “After more than a year of crushing inflation, Democrats still have no plan to solve it.” What’s the cause? The …

U.S. inflation reached a new 40-year high of 9.1% in June
2 years, 5 months ago

U.S. inflation reached a new 40-year high of 9.1% in June

LA Times  

U.S. inflation surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively — trends that raise the risk of a recession. The government’s consumer price index soared 9.1% in June from June 2021, the biggest year-over-year increase since 1981, with …

Business Highlights: Biden and recession fears, Revlon woes
2 years, 6 months ago

Business Highlights: Biden and recession fears, Revlon woes

Associated Press  

___ AP Interview: Biden says a recession is ‘not inevitable’ WASHINGTON — President Joe Biden says the American people are “really, really down” after a tumultuous two years with the coronavirus pandemic, volatility in the economy and now surging gasoline prices that are hitting family budgets. ___ Wall Street tumbles on fears for economy as more rates rise NEW YORK …

Feeling a little dread about the economy? You’re not alone
2 years, 7 months ago

Feeling a little dread about the economy? You’re not alone

CNN  

A version of this story appeared in CNN’s What Matters newsletter. To get it in your inbox, sign up for free here CNN — There are plenty of reasons for that feeling of economic doom that’s going around: And while he’ll cheer stronger-than-expected new job growth data released Friday, there’s very little President Joe Biden or anyone else can do …

Analysis: Biden finds inflation overshadows strong economy
2 years, 11 months ago

Analysis: Biden finds inflation overshadows strong economy

Associated Press  

President Joe Biden is paying a steep price for high inflation — a problem that festered during his first year in office instead of fading away as he suggested it would. White House officials are now trying to reconcile this paradox, as Biden’s future may depend on making people feel good about not just their bank accounts but also the …

Column: The Biden economy is booming. Why aren’t Americans happier with it?
3 years ago

Column: The Biden economy is booming. Why aren’t Americans happier with it?

LA Times  

Federal Reserve Chairman Jerome H. Powell, speaking earlier this month. The pandemic continues to play a pretty significant role in what we’re seeing as the ebbs and flows of the labor market in general, but we’ve added over 6 million jobs this year. The second thing is that there is a competing story, and that’s inflation.” Shapiro notes that even …

AP-NORC Poll: Income is up, but Americans focus on inflation
3 years ago

AP-NORC Poll: Income is up, but Americans focus on inflation

Associated Press  

WASHINGTON — Americans’ overall income has accelerated since the pandemic, but so has inflation — and a new poll finds that far more people are noticing the higher prices than the pay gains. The findings in the AP-NORC poll underscore the financial pressures that this year’s spike in inflation has imposed on many Americans’ finances. A likely factor in Americans’ …

Biden aims to do what presidents often can’t: Beat inflation
3 years, 1 month ago

Biden aims to do what presidents often can’t: Beat inflation

Associated Press  

WASHINGTON — LBJ tried jawboning. The Ford administration printed buttons exhorting Americans to “Whip Inflation Now.’’ Over the years, American presidents have tried, and mostly floundered, in their efforts to quell the economic and political menace of consumer inflation. Confronting a spike in gasoline and other consumer prices that’s bedeviling American households, Biden on Tuesday ordered the release of 50 …

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