U.S. Treasury Secretary Janet Yellen claimed that President Joe Biden’s economic policies have allowed the American economy to recover from the pandemic and be on the path to becoming stronger than it was before. “Our plan has worked,” boasted Yellen, who said that “by any traditional metric, we have experienced one of the quickest economic…
Yellen Says Biden’s Policies Helped US Economy Recover From Pandemic
September 10, 2022
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2022 Midterm ElectionsBusiness & MarketsDemocratseconomic policieseconomyenergyinflationJanet YellenPolicies & ImpactsPoliticsrecessionU.S. economyUS
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They Will Flatten the Curve of Your Energy Use
September 7, 2022
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AnalysisBusiness & MarketsBusiness Columnistsclimate changeenergy billsenergy rationingfossil fuelsOpinionrenewablesU.S. economy
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Commentary My friends in the UK have been texting me wildly this week. What the heck is going on with energy bills? They are doubling, tripling, and forecast to go even higher. For this bourgeoisie, this is a budget-destroying disaster. Small businesses won’t be able to afford to open. The poor will face the choice…
What If We Never Left Recession?
September 1, 2022
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AnalysisBusiness & MarketsBusiness Columnistsdepressioninflationlabor productivityOpinionrecessionU.S. economy
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Commentary There was some hope that the output revisions at month’s end would put to rest the recession debate. Instead, they only added more confusion because we still experienced two quarters of declining GDP as adjusted for inflation, which means recession. Those inflation adjustments can be a real buzz kill. The Bureau of Labor Statistics…
On Health of the US Economy, Republicans and Democrats See Things Differently
A majority of people who voted for former President Donald Trump admit that America is in a recession, while only a minority of Biden supporters agreed, according to a recent poll by The Economist and YouGov. In response to a question about whether the United States is in a recession, 82 percent of respondents who voted…
Housing Prices Could Fall by 20 Percent in 183 Cities Across US: Study
According to a new study published in Fortune, if the U.S. economy falls deeper into a recession, housing prices could dip by as much as 20 percent in 183 cities nationwide. The data from Moody’s analytics reveal that 183 of the 413 top housing markets are “overvalued” by more than 25 percent. If the slump in the housing…
Capitol Report (Aug. 29): DOJ Already Reviewed Trump Docs; Pelosi Asked About Student Debt Comments
August 29, 2022
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Capitol ReportDonald TrumpEpochTVGlenn YoungkinHouse of RepresentativesJustice DepartmentNancy PelosiNASAnovember electionRep. Bob Goodrocketstudent loan debtU.S. economyUSUS NewsVirginia
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We’re learning more about the documents seized at former President Donald Trump’s Florida home, what the Justice Department said in its latest court filing, and what difference it could make. Virginia Gov. Glen Youngkin says he doesn’t want his state to follow California’s plan to ban gas-powered cars. He called the plan “ridiculous” and says…
Is the Fed Panicking or Bluffing?
August 29, 2022
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AnalysisBusiness & MarketsBusiness ColumnistsFederal Reserveinflationinterest ratesjerome powellOpinionrecessionU.S. economy
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Commentary The big takeaway from the Fed meeting in Jackson Hole, Wyoming—in person this time after two years of staying home and staying safe—was that the Fed is serious about stopping inflation. The message to the media was firm and unified. There will be no stopping this Fed until the target of 2 percent is…
Powell’s Double Challenge: A Slowing Economy and Vanishing Liquidity
Commentary The hawkish tone of the Federal Reserve Chairman Jerome Powell on Friday, Aug. 26, was unequivocal. His most important sentence, in my view, was the following: “With inflation running far above 2 percent and the labor market extremely tight, estimates of longer-run neutral are not a place to stop or pause.” What does this…
The New Normal of High Prices
Commentary Beef eaters got some good news over the last several days. Prices are starting to relax a bit for the higher-end cuts. They had become so unaffordable over the last six months that even the most devoted fans of New York strip and fancy filets switched to cheaper roasts and ground beef to satisfy…
Inflation Reduction Act Won’t
August 18, 2022
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entitlementgovernment spendinginflationInflation Reduction Actnational debtOpinionU.S. economyViewpoints
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Commentary In January 1925, President Calvin Coolidge addressed the American Society of Newspaper Editors in Washington. In his remarks, Coolidge said, “the chief business of the American people is business. They are profoundly concerned with producing, buying, selling, investing, and prospering in the world.” On Tuesday, President Biden returned from vacation to sign the misnamed “Inflation Reduction Act.” He…
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