Tag: recession

Election Day Gas Prices $1.41 Higher Than When Biden Took Office

November 8, 2022
2022 Midterm ElectionsBiden administraitonBusiness & MarketscongressDemocratsdiesel shortageeconomic policieseconomyenergyExecutive Branchgas pricesinflationMidterm electionsPolicies & ImpactsPoliticsrecessionRepublicansUS
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News Analysis Average U.S. gas prices this Election Day, are $1.41 higher than they were when President Joe Biden took office, a bad sign for the Democrats as voters went to the polls for the midterms. When Biden took office on Jan. 20, 2021, the average price for a regular gallon of gas, stood at…

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The State of the US Economy on Election Day

November 8, 2022
2022 Midterm ElectionsBusiness & MarketscongressDemocratseconomic policieseconomyinflationMarketsMidterm electionspersonal financePolicies & ImpactsPoliticsrecessionRepublicansU.S. economyUS
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Millions of Americans are heading to polls, with many seeing the struggling state of the U.S. economy as their primary concern for Election Day. The highly anticipated Nov. 8 midterm elections are a referendum on President Joe Biden and the Democrats, as the Republicans attempt to take back both houses of Congress. If the Republicans…

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Chaotic Week in Global Central Banking as Recession Forces Itself Into the Conversation

November 8, 2022
Business & MarketsBusiness ColumnistsCentral Bankingeconomic policieseconomyglobal economyinflationOpinionrecessionViewpointsWorld
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Commentary  It began in Australia when its central bank publicly and clearly stated its quandary. Consumer prices are rising too quickly there as elsewhere, yet more and more it appears as if those prices are leading the country, like the rest of the world, into dark recession. What to do as a central banker? The…

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Is the Federal Reserve Going Bankrupt?

November 8, 2022
Business & MarketsBusiness Columnistseconomic policieseconomyFederal Reserveinflationinterest ratesPolicies & ImpactsrecessionUSUS News
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Commentary  How can a bank with the power to create money out of thin air manage to lose money and become insolvent? The Federal Reserve can do it. Here is how. The Fed is losing money at an accelerating rate. Based on generally accepted accounting principles (GAAP), the Fed soon could soon be considered insolvent….

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Bird Flu, Inflation, and Low Retail Prices Hit British Egg Producers Amid Shortage Fears

November 8, 2022
Avian flubird fluBusiness & MarketsEggsfood shortagesinflationrecessionUKWorld
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Britain’s farmers are struggling to meet the demand for eggs as production is hit by avian flu and skyrocketing costs, low prices, and suppliers threatening to leave the industry. Measures to keep all poultry and captive birds indoors in England to prevent the spread of bird flu came into force on Monday. The government said…

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Britons Delay Christmas Shopping as Grocery Price Inflation Hits Record 14.7 Percent

November 8, 2022
Bank of EnglandBusiness & Marketseconomygroceryinflationinterest raterecessionUKWorld
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British consumers are delaying their Christmas shopping as grocery price inflation in the UK hits a new record, according to new research. According to the latest data from research firm Kantar, four-week grocery price inflation has reached 14.7 percent, the highest since the firm began to record the data in 2008. The firm said that…

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Wall Street Opens Higher as Voting in Midterm Election Begins

November 8, 2022
Business & Marketseconomic policieseconomyinflationMarketsrecessionstocksUS
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U.S. stock indexes opened higher on Tuesday as voting began in the crucial midterm election that will determine control of Congress, with investors hoping for a political gridlock that could prevent radical policy changes. The Dow Jones Industrial Average rose 107.56 points, or 0.33 percent, at the open to 32,934.56. The S&P 500 opened higher…

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Dollar Stems Losses as Investors Eye US Midterms

November 8, 2022
Business & Marketscryptocurrencyeconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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SINGAPORE/LONDON—The dollar steadied on Tuesday as traders looked ahead to U.S. midterm elections, and as excitement dimmed around China relaxing coronavirus restrictions, which had been boosting investor sentiment and weighing on the safe haven U.S. currency. A conclusive result to the midterms could take days, but forecasts are for a Republican victory, at least in…

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Oil Prices Dip on China Demand Worries

November 8, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices slipped on Tuesday as recession concerns and worsening COVID-19 outbreaks in top crude importer China heightened fears of lower fuel demand. Brent crude fell 84 cents, or 0.9 percent, to $97.08 a barrel by 1006 GMT while U.S. West Texas Intermediate (WTI) crude fell 96 cents, or 1 percent, to $90.83. Both benchmarks…

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Markets in Holding Pattern Ahead of Election, Inflation Data

November 8, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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Wall Street is essentially flat before the opening bell Tuesday with Americans heading to the polls to vote in the midterm elections that are being heavily influenced by inflation, with more data on that front arriving this week. Futures for the S&P 500 moved 0.16 percent higher, and the Dow Jones Industrial Average rose 0.13…

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