While the U.S. economy is continuing to add new jobs, Congressman Bob Good (R-Va.) sees warning signs for the economy going forward. On Friday, the U.S. Labor Department reported that the United States added 253,000 jobs in April, beating a 180,000-job forecast for the month. This comes at the same time the U.S. Federal Reserve…
Rep. Bob Good Says April Jobs Numbers Won’t Fix Inflation, Government Spending
May 5, 2023
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How to Have a Fun Summer When Your Finances Fall Short
With layoffs, bank closures and inflation, financial tensions remain high for many Americans heading into the summer. In a fall 2022 survey conducted by The Harris Poll for the American Psychological Association, 83 percent of adults said inflation was a source of stress, and 56 percent said they and/or their family had to make different…
US Labor Productivity Dips and Costs Surge in First Quarter 2023
Labor productivity fell during the first quarter this year while labor costs rose, posing a challenge to the Federal Reserve as it raises interest rates in an attempt to control persistent, decades-high inflation. Nonfarm business sector labor productivity, which measures the hourly output per worker, declined by 2.7 percent in first quarter 2023, compared to…
Recession Fears Drive Down Fuel Demand, Leading to Lower Gas Prices
Uncertainty in the American economy is beginning have an effect on the energy markets and gas prices. Oil prices have declined amid concerns among investors that rising interest rates will push the U.S. economy into a recession. Analysts have expressed concern that a recession will cause oil demand and pump prices in the world’s largest…
Canberra Must to Make the Hard Decisions Now to Control Inflation
May 4, 2023
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Commentary Reserve Bank of Australia (RBA) governor, Philip Lowe, has fired a warning shot over the bow of the federal treasurer by raising official interest rates another quarter of a percent this week to 3.85 percent. The hard work on inflation has to be done by the government which has access to a large number…
Canberra Must Make the Hard Decisions Now to Control Inflation
May 4, 2023
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AustraliaBusiness & Marketseconomic policieseconomyinflationmonetary policyOpinionRBAViewpointsWorld
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Commentary Reserve Bank of Australia (RBA) governor, Philip Lowe, has fired a warning shot over the bow of the federal treasurer by raising official interest rates another quarter of a percent this week to 3.85 percent. The hard work on inflation has to be done by the government which has access to a large number…
Shell Beats Forecasts With $9.65 Billion Profit in First Quarter
May 4, 2023
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Shell announced higher-than-expected profits for the first three months of 2023, continuing a positive winning streak after energy prices surged last year due to the Russian war against Ukraine. Quarterly earnings benefited from higher oil and gas prices, a boost in refining profits, and excellent performance from its trading division. The UK-based oil company released its first…
‘We’re Not Increasing the Cost of Business,’ Bernie Sanders Argues for $17 Federal Minimum Wage
May 4, 2023
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WASHINGTON–Sen. Bernie Sanders (I-Vt.) introduced a bill on May 4 to raise the federal minimum wage to $17 per hour. The proposal, which is more than double the current rate of $7.25, was unveiled to the cheers of various labor leaders outside Capitol Hill. “It is time to pass a new livable wage,” Sanders said….
Is the Fed Done Messing Up Everything?
May 4, 2023
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Commentary There is a scene in a Fred Astaire and Ginger Rogers film in which the boss of a law firm leaves for vacation and puts his intellectually limited Cousin Egbert in charge. The note adds “don’t do anything.” This is exactly the note that the Fed needs now. Just stop doing things. Its record-breaking…
Europe’s Inflation Inches Up Ahead of Interest Rate Decision
FRANKFURT, Germany—Europe’s painful inflation has inched higher, extending the squeeze on households and keeping pressure on the European Central Bank to unleash what could be another large interest rate increase. Consumer prices in the 20 countries using the euro currency jumped 7 percent in April from a year earlier, just up from the annual rate…
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