U.S. corporate growth expectations for the second quarter of 2022 are beginning to show signs of decline as the cost of energy, goods, and interest rates continue to rise, say economists. With companies reviewing data from their first quarter earnings reports, analysts at the end of last week lowered their overall forecast for S&P 500…
US Corporate Earnings Forecasts Weaken As Companies Review Inflation Risks
DeSantis Signs Historic $1.2 Billion Tax Relief Package That Benefits Families
PUNTA GORDA, Fla.–Gov. Ron DeSantis signed a $1.2 billion tax relief bill on May 6 to help Floridians—especially families with children—fight what he called “Biden-flation headwinds.” “This is actually the largest tax relief in the history of the state of Florida,” DeSantis said in Ocala, dwarfed by a wall of disposable diapers and surrounded by…
DeSantis: Florida Is Ready if ‘Biden Plunges US Into a Recession’
May 4, 2022
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ArchivedeconomyFloridaFlorida CFO Jimmy PatronisFlorida Gov. Ron DeSantisLocal NewsNewsRegional-Local NewsU.S. InflationUSUS News
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Florida’s Gov. Ron DeSantis said on May 3 he is concerned about the national economy as he fears President Joe Biden’s policies will “plunge the United States into a recession.” And DeSantis said that while inflation continues to rise with an upsurge in prices of goods, Florida’s economy is looking good. The comments came during…
US Home Prices Rose at Fastest Annual Pace on Record in March
U.S. home prices for the first quarter of 2022 continued to skyrocket with a record 20.9 percent year-over-year increase in March 2022, according to CoreLogic’s latest Home Price Index and Forecast, which was released on May 3. This was the highest 12-month growth for the U.S. home index since the series began in 1976, while mortgage rates…
61 Percent of Small-Business Owners Fear Rising Inflation Will Cripple Them
Over 60 percent of American small-scale employers are worried about inflation threatening their businesses with the highest prices since 1982, according to a recent survey by Clarify Capital. In a poll of more than 500 small-business owners, 61 percent said they were worried about staying afloat in the current economic climate. Sixty-six percent of poll respondents…
St. Louis Fed Chief Calls for Immediate Action on Rising Inflation
The president of the St. Louis Federal Reserve, James Bullard, called for a tougher approach to control skyrocketing inflation by raising interest rates more substantially and said that the Fed needs to act, in a statement on April 8. He believes that the central bank is “behind the curve” on interest rates, “but not as much as it…
JPMorgan Predicts That Global Commodities Prices May Rise by 40 Percent
Commodities prices could rise by 40 percent and will likely continue to go higher, according to a note from JPMorgan Chase from April 7, as raw materials hit a record high last month following Western sanctions on Russia due to its invasion of Ukraine. Russia is a main supplier for up to 10 percent of…
St. Louis Federal Reserve President Calls for a Quicker Hike in Interest Rates
March 22, 2022
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The president of the Federal Reserve Bank of St. Louis, James Bullard, on March 22 reiterated last week’s call for a more aggressive stance to combat the highest level of inflation in 40 years. Bullard said that U.S. monetary policy needs to be tightened sooner rather than later, by raising interest rates to above 3 percent by…
US Consumer Spending Jumps 2.1 Percent in January, Beating Predictions
U.S. consumer spending rose by 2.1 percent in January, despite mounting price pressures, annual inflation rates at a forty year high, and as Americans dealt with the spread of the Omicron variant, according to the Feb. 25 report by the Bureau of Economic Analysis. The numbers are a major improvement from December 2021, as spending…
US Consumer Spending Jumps by 2.1 Percent in January, Beating Predictions
U.S. consumer spending rose by 2.1 percent in January, despite mounting price pressures, annual inflation rates rising to a 40 year high, and Americans dealing with the spread of the Omicron coronavirus variant, according to a Feb. 25 report by the Bureau of Economic Analysis. The numbers are a major improvement from December 2021, as…
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