economy

Fed Minutes Show Options Are Open on Interest Rate Cuts

by

Minutes from the Federal Reserve’s July meeting indicate that the central bank remains open to further interest rate cuts. While no decision was made, participants generally agreed that the economy was slowing and that uncertainties surrounding trade and geopolitical tensions could warrant accommodative action. The minutes also noted that weak inflation remained a concern. The Fed has already cut rates twice this year, in July and September, and markets now widely expect another cut at the next meeting in October. However, the minutes suggest that the Fed may be willing to pause after that if the economy improves as expected.

Biden’s Chief Economist Processes the Election With ‘Confusion, Guilt’

by

Biden’s chief economist, Jared Bernstein, experienced a complex mix of emotions after the 2020 presidential election, including confusion and guilt. In a recent interview, Bernstein acknowledged the cognitive dissonance he felt: while he welcomed Biden’s victory, he also grappled with the pain of those who supported the opposing candidate. Bernstein expressed a desire to understand and address the reasons behind such deep political divides and highlighted the need for empathy and bridge-building efforts to foster unity within the country.

How Donald Trump’s Presidency Could Impact Retirement Rules

by

As Donald Trump takes the reins of power, the question of how his presidency will affect the rules governing retirement is on the minds of many Americans. One potential change that has been discussed is to the minimum age requirement for receiving Social Security benefits. Currently, the full retirement age is 67 for those born in 1960 or later. However, some have suggested raising this age to 70 or even 72 to help shore up the Social Security Trust Fund. Whether or not this change will be implemented remains to be seen, but it is one of the potential changes that could have a significant impact on retirement savings and planning.

Walmart Stock Rises on Strong Earnings Ahead of Holiday Shopping Season

by

As the holiday shopping season nears, Walmart stock has soared after the retail giant reported strong earnings. The company attributed its success to increased sales in groceries, apparel, and home goods, defying fears of an economic slowdown. Market analysts are hailing Walmart’s performance as a sign of resilience in the face of inflation and supply chain disruptions. Investors are optimistic that Walmart will continue its momentum into the holiday rush, as consumers seek out value and convenience during this pivotal spending period.

Economy and discontent were too much for Harris to overcome, advisers say

by

Economic downturn and widespread discontent proved insurmountable challenges for Harris’s administration, according to his advisors. The sluggish economy, marked by high unemployment and stagnant wages, eroded public trust in Harris’s leadership. Furthermore, growing dissatisfaction with social policies and perceived government inaction exacerbated the situation. Advisors acknowledged that Harris faced an exceptionally difficult environment, with limited options to address the complex problems confronting his presidency. They expressed regret that the administration was unable to overcome these obstacles and deliver on its promises, leading to Harris’s decision to resign.

How Trump’s Plans for Mass Deportations, Tariffs and Fed Could Affect the Economy

by

The potential impact on the U.S. economy from Trump administration policies remains uncertain. Some argue that the President’s proposals for mass deportations of undocumented immigrants, tariffs on imported goods, and deregulation of the financial sector could boost the economy in the short-term by increasing employment and stimulating investment. Others contend that these policies would ultimately have negative consequences for the economy by reducing the labor force, raising prices for consumers and businesses, and increasing the risk of financial instability. The long-term effects of these policies are difficult to predict with certainty at this time.

Liberals Have No Answers for a Modern Age in Crisis

by

In an era marked by profound technological advancements, economic disruptions, and rising geopolitical tensions, many argue that the liberal paradigm is proving increasingly inadequate. Critics contend that traditional liberal solutions, centered around government regulation and social welfare, fall short in addressing the complexities of the 21st century. They argue that a new framework is needed, embracing technological innovation, economic dynamism, and a redefining of the role of government. Proponents of this view assert that the modern age requires a fresh approach, one that recognizes the rapidly changing nature of society and the need for pragmatic policies that promote prosperity and societal well-being.

U.S. Inflation Ticks Up to 2.6% in October, as Fed Considers Rate Cut

by

The U.S. inflation rate ticked up in October, reaching 2.6% annually. This increase follows months of persistently low inflation below the Federal Reserve’s 2% target. The rise in inflation is attributed to rising costs for energy and food. As the Fed considers the possibility of an interest rate cut, the latest inflation data will be closely analyzed to assess its potential impact on future monetary policy decisions. While higher inflation may warrant a more hawkish approach, the Fed must also balance its efforts to encourage economic growth.

Credit card debt hits record…

by

Credit card debt in the United States has soared to unprecedented heights, reaching a record $1.7 trillion in the first quarter of 2023. This alarming surge has sparked concerns among economists and financial experts, who warn of a potential crisis if left unchecked. Factors contributing to this debt epidemic include rising inflation, economic uncertainty, and a shift towards cashless transactions. As interest rates continue to climb, the burden of repaying this colossal debt is weighing heavily on consumers, threatening to derail the nation’s economic recovery.

Trump’s Tariffs Could Deal a Blow to Mexico’s Car Factories

by

Trump’s Tariffs Could Deal a Blow to Mexico’s Car Factories

The Trump administration’s proposed tariffs on imported cars and auto parts could have a significant impact on Mexico’s car industry. This is because Mexico is a major exporter of cars and auto parts to the United States. In 2017, Mexico exported over $100 billion worth of cars and auto parts to the United States. If the Trump administration’s tariffs are implemented, it could make Mexican cars and auto parts more expensive for U.S. consumers. This could lead to a decrease in demand for Mexican cars and auto parts, which could in turn lead to job losses in Mexico’s car industry.