The gas price for this year’s Thanksgiving was, on average, $1.193 higher than when President Joe Biden assumed office on Jan. 20, 2021, indicating an increase of nearly 50 percent over a period of 22 months. The national regular gasoline price from GasBuddy, as of Nov. 24, was $3.586, compared to $2.393 when Biden was…
Gas on Thanksgiving Was $1.19 Higher Than When Biden Took Office
November 25, 2022
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Biggest Wage Hikes in 16 Years Expected Next Year Amid Inflation
November 18, 2022
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Business & Marketseconomyhigh inflationinflationreal wagessalary hiketight labor marketU.S. labor marketUSUS Newswage increase
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Employees in the United States are expected to see a 16-year high salary hike next year as companies react to a tight labor market and inflation, according to a recent report by workplace consultant Willis Towers Watson (WTW). Pay budgets at companies have risen by 4.2 percent in 2022, stated a WTW press release on Nov. 17….
Taiwan’s Exports to China Hit New Low as Chinese Economy Weakens
November 16, 2022
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Asia & PacificBusiness & MarketsChinaChina Business & EconomyClean Networkeconomyhigh inflationHong Konginterest rate hikessupply chainTaiwanTaiwan Exportstrade surplusUS-China relationsweakening economyWorld
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In October, Taiwan’s exports to mainland China and Hong Kong fell 9.2 percent from a year earlier, the lowest in nearly 20 months, the Ministry of Finance (MOF) said on Nov. 8. Beatrice Tsai, director-general of the MOF Department of Statistics, said the numbers are indicators of China’s weakening economy. Meanwhile, Taiwan’s trade surplus from…
How to Stretch Your Dollar When There Is High Inflation
High inflation rates have hit almost everything this summer—and it does not look like they will come down anytime soon. Most people’s income has not kept pace with it, and it has become necessary for many people to try and make their dollar go further. CNBC reports that 63 percent of Americans are living paycheck…
Keynesian Policies Have Left High Debt, Inflation, and Weak Growth
Commentary The evidence from the last 30 years is clear: Keynesian policies leave a massive trail of debt, weaker growth, and falling real wages. Furthermore, once we look at each so-called stimulus plan, reality shows that the so-called multiplier effect of government spending is virtually nonexistent and has long-term negative implications for the health of…
American Consumer Sentiment Plunges While Inflation Expectations Rise
November 12, 2022
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Consumer sentiment fell last month while expectations of inflation among the general populace rose, according to a University of Michigan survey that is closely followed by the Federal Reserve. The Index of Consumer Sentiment came in at 54.7 in November, down 8.7 percent from 59.9 in October, data from the surveys of consumers conducted by…
Diesel Prices Keep Climbing, Making Inflation Harder to Root Out
November 10, 2022
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Business & Marketsdiesel crisisdiesel pricesdiesel vehicleseconomyenergyhigh inflationinflationMarketsPolicies & ImpactstruckersUS
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With diesel prices remaining elevated, inflation is becoming that much harder to bring under control, placing more financial burden on American consumers. Vehicles like trucks, tractors, trains, barges, and construction equipment—which are part of the commercial traffic—are mostly run on diesel. As such, the fuel is intricately linked to consumer inflation as their prices factor…
Americans Already Struggling to Pay Bills Amid Inflation Brace for a Surge in Winter Heating Costs
November 8, 2022
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With the winter season only a few weeks away, Americans are facing the prospect of having to pay high heating costs in order to stay warm, something which many believe will add pressure on people who are already struggling with elevated inflation rates. According to Mark Wolfe from the nonprofit National Energy Assistance Directors Association…
Investors Rush to Safety of Cash at Fastest Pace Since Pandemic Stock Rout
November 5, 2022
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Business & Marketseconomic recessioneconomyhigh inflationinflationInvestmentMarketsrecessionS&P 500stock market crashU.S. interest rate hikesUSUS Dollar
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With the Federal Reserve maintaining a hawkish stance, investors have been fleeing toward the safety of cash at a record pace. In the week through Nov. 2, investors poured in $62.1 billion into cash, a note from Bank of America (BofA) said citing EPFR Global Data. Since the beginning of October, fund flows into cash…
Turkey’s Annual Inflation Hits Two-Decade High of 85 Percent
November 3, 2022
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Business & Marketseconomic policieseconomyEuropehigh inflationinflationlow interest ratesPresident Tayyip Erdoganturkey inflationturkish liraWorld
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Turkey’s annual inflation has hit its highest level in 24 years, worsening the cost-of-living crisis facing the country, even as political opposition parties claim that real numbers are worse than official figures. The 12-month Consumer Price Index (CPI), which measures inflation on an annual basis, hit 85.51 percent in October, according to a press release from…
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