Fed Looks to Raise Rates Further to Combat Inflation
The Federal Reserve Bank of Atlanta President Raphael Bostic said Monday that the strong jobs report released in January could lead to the central bank increasing its key interest rate to a higher peak than what policymakers had previously expected.[0] The news comes after the Federal Open Market Committee (FOMC) raised its policy interest rate […]
Continue reading Housing Market Heats Up Again: Experts Forecast Price Slowdown Rather Than Crash
Economists have long been forecasting that the overheated housing market would subside as home values become a casualty of their own success.[0] Since August 2021, housing prices have increased at a faster rate than incomes, making it difficult to afford a home. Additionally, mortgage rates have doubled, but recently began to decrease slightly.[0] This has […]
Continue reading President Biden’s State of the Union Address: Policy Achievements, Police Reform, and Potential 2024 Bid
President Joe Biden is set to deliver his second State of the Union address tomorrow evening, with a divided Congress and a looming 2024 election on the horizon.[0] Biden is expected to tout his administration’s achievements and the relatively good state of the US economy, while also mourn the death of Tyre Nichols in Memphis […]
Continue reading Yellen Expresses Confidence in U.S. Economy Avoiding Recession in Biden Presidency
Treasury Secretary Janet Yellen expressed confidence Monday that the U.S. economy can avoid a recession this year, citing the addition of more than 500,000 jobs in January that brought unemployment to a 54-year low.[0] Yellen, speaking during an interview on ABC’s “Good Morning America,” said the economy remains “strong and resilient” and is on a […]
Continue reading G7 Coalition Implements Price Cap on Russian Oil Products
This Sunday, February 5, the European Union, alongside the United States, the United Kingdom, Canada, France, Germany, Italy, Japan and Australia, will be implementing a price cap on Russian oil products.[0] The European Commission’s proposal will take effect from Sunday, and is aimed at reducing the Kremlin’s revenues from oil exports in response to its […]
Continue reading Embracing the Four-Day Workweek: What Employers Should Know
As more and more workers feel the strain of the five-day workweek, many are beginning to consider the advantages of the four-day workweek. This shift would not only provide workers with more time to pursue personal endeavors but could also lead to increased productivity and a shift in priorities. A recent survey from Robert Half […]
Continue reading G7, EU and Australia Announcing Global Price Cap on Russian Oil Products
On February 5, 2023, the Group of Seven (G7) countries, along with the European Union (EU) and Australia, are set to impose a global price cap on Russian-origin refined oil products.[0] This price cap is part of a larger sanctions package in response to Russia’s invasion of Ukraine and is aimed at reducing the Kremlin’s […]
Continue reading Pakistan Government Struggles to Meet IMF Conditions Amid Economic Challenges
Prime Minister Shehbaz Sharif of Pakistan said on Friday that the country is facing an unimaginable economic challenge and the conditions set by the International Monetary Fund (IMF) are beyond imagination.[0] He made the comments in a televised address, warning that the IMF delegation is in Islamabad and giving a tough time to the finance […]
Continue reading Egg Prices on the Rise: Avian Flu and Inflation to Blame
Egg prices have skyrocketed across the nation in the last year, with the average price of a dozen large white Grade A chicken eggs increasing from $1.79 in December 2021 to $4.25 in December 2022, according to the U.S. Department of Agriculture’s Economic Research Center. The cause of this dramatic increase is mainly due to […]
Continue reading Michigan Leaders Announce Plan for “Biggest Tax Relief to Michiganders in Decades
Michigan Gov. Gretchen Whitmer, Senate Majority Leader Winnie Brinks, and House Speaker Joe Tate on Friday announced a framework agreement that they say will provide the largest tax break to Michiganders in decades.[0] The Lowering MI Costs plan will repeal the retirement tax to save 500,000 households an average of $1,000 a year, increase the […]
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