Almost 50 percent of German citizens are not in a position to afford their current lifestyles, forcing them to make changes in household expenditures, a poll conducted by public broadcaster ARD has shown. In the survey, which was conducted between May 30 and June 1 among 1,337 Germans, 47 percent indicated that they are implementing…
Roughly Half of Germans Restrict Spending Due to Rising Inflation: Survey
Biden Responsible for Inflation and Gas Prices, Will Face Heat in Midterms: GOP Chair
June 2, 2022
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2022 Midterm Electionsbiden administrationBusiness & Economyeconomyhigh gas priceshigh inflationinflationPoliticsRep. Tom EmmerUS
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Rep. Tom Emmer (R-Minn.), chairman of the National Republican Congressional Committee, blames the Biden administration for the raging inflation and high gas prices affecting American citizens and predicts that Democrats will regret their policies during the midterm elections in November. Economist Larry Summers warned the administration 16 months back that destroying America’s energy independence and pumping trillions of…
‘I Think I Was Wrong’ and ‘Didn’t Fully Understand’ Inflation: Treasury Secretary Janet Yellen
Treasury Secretary Janet Yellen admitted in an interview with CNN that her past views on how inflation in the United States would progress were faulty. Yellen, along with Federal Reserve officials, had previously insisted that inflation was temporary. However, with inflation now near four-decade highs, many have been forced to change their stance on the…
Inflation in France Exceeds 5 Percent in May
Annual French inflation exceeded 5 percent in May as citizens continued to be battered by surging prices of food and energy, according to provisional data from the state’s statistical agency. The 12-month Consumer Price Index (CPI), a measure of inflation, came out at 5.2 percent in May 2022, according to data from INSEE, the French…
Biden to Meet With Fed Chairman Jerome Powell About Inflation Crisis
May 31, 2022
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Business & EconomyeconomyFederal Reserve (Fed)high inflationinflationjerome powellJoe BidenUSUS News
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President Joe Biden is set to meet with Federal Reserve Chairman Jerome Powell as American households grapple with the effects of high inflation. The meeting, which will take place on May 31, comes weeks after Powell’s second term as Fed Chair was confirmed by the Senate. Biden will congratulate Powell on the Senate confirmation during…
Inflation to Remain High in 2022, Congressional Budget Office Warns
May 26, 2022
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Business & EconomyCongressional Budget OfficeeconomyFederal Open Market Committee (FOMC)high inflationinflationPersonal Consumption Expenditures PCE Price IndexUS
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The Congressional Budget Office (CBO) is expecting inflation to remain elevated in 2022 and then to subsequently decrease over the next couple of years, the agency said on May 25. The Personal Consumption Expenditures (PCE) Price Index, which is the Federal Reserve’s preferred measure of inflation, will be 4 percent in 2022, the agency projected…
Inflation ‘Out of Control,’ Markets ‘Imploding’: Hedge Fund Billionaire Blames Loss of Confidence in Fed
May 26, 2022
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Business & Economyeconomyhigh inflationinflationJerome Jay PowellUSUS NewsUS unemploymentWilliam Ackman
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Hedge fund billionaire Bill Ackman has criticized the U.S. Federal Reserve for the way it has handled inflation, warning that the agency’s modest interest rate hikes won’t be able to control the uncontrolled increase in prices. “Inflation is out of control. Inflation expectations are getting out of control. Markets are imploding because investors are not…
BlackRock Warning Fed Rate Hikes May Trigger Recession
The U.S. Federal Reserve’s attempt to rein in inflation by raising interest rates might end up pushing the country into a recession, BlackRock, the world’s largest asset manager, recently warned in a note. “The Fed’s hawkish pivot has raised the risk that markets see rates staying in restrictive territory,” the note said, according to Fox…
‘This Is Going to Take Some Time,’ Biden Warns About Inflation, Gas Prices During Japan Conference
May 23, 2022
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Business & Economyeconomic policieseconomyExecutive Branchhigh gas priceshigh inflationinflationJoe BidenPoliticsUSUS News
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President Joe Biden has warned that inflation might last longer than expected and admitted that gas price hikes are becoming a big problem for many households. “This is going to be a haul. This is going to take some time,” Biden said about rising prices during a May 23 press conference with Japanese Prime Minister…
The Law of the Conservation of Anxiety
Commentary It sometimes seems as if there were nowadays a law of the conservation of anxiety: If we aren’t anxious about one thing, we’ll be anxious about another. For example, it isn’t all that long ago that we were worrying about the dangers of deflation, but now it’s inflation that we must worry about. Of…
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