The New Zealand government has revealed its 2022 budget on May 19, with a focus on relieving cost-of-living and record health investment. Prime Minister Jacinda Ardern said the government had set out to give people as much certainty and security as possible in the budget. “That is what we have set out to do in…
Ardern Government Unveils Unprecedented Spending in 2022 Budget
May 19, 2022
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US Labor Market in Spotlight as Weekly Jobless Claims Hit 4-Month High
WASHINGTON—The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, reaching a four month-high and potentially hinting at some cooling in demand for workers amid tightening financial conditions. Still, the labor market remains tight as the report from the Labor Department on Thursday also showed the ranks of the unemployed were…
Stocks End Lower, Nearing but Not Quite in a Bear Market
NEW YORK—Another volatile day on Wall Street ended with more losses for stocks Thursday, drawing the S&P 500 closer to its first bear market since the beginning of the pandemic. The index, a benchmark for many funds, fell 0.6 percent after easing off a deeper stumble. The latest decline came a day after the S&P…
World Stocks Slide as Growth Fears Persist, Safe-Havens Gain
NEW YORK—Global equities fell further on Thursday, unable to sustain a late rally on Wall Street, as investors dumped stocks on fears of sluggish growth and bought safe-haven assets such as government debt and the Swiss franc. Supply chain woes continued to fuel inflation and growth concerns as Cisco Systems Inc. warned of persistent component…
There’s Recession, Not Inflation, in the Dollar’s Surge
Commentary Currency devaluation is inflation. How the drop in the currency’s value comes about is another question, though ultimately for consumers and businesses the answer to it might not matter. When that price declines, it simply means the relative value of goods and services available to be exchanged for it has gone up. Once money…
Kansas City Federal Reserve President: Fed Isn’t Focused on Effect of Rate Hikes on Stocks
Esther George, president of the Kansas City Federal Reserve, has reiterated the Fed’s commitment to ameliorating inflation, suggesting that monetary policymakers are less concerned with the effect of rate hikes on equity values despite the recent sell-off in the stock market. When asked by CNBC’s Steve Liesman about the recent bearish turn in the stock…
New York Times Falsely Reports Thousands of Children Have Died From COVID-Linked Syndrome
The New York Times on May 19 falsely reported that thousands of children have died during the pandemic from multisystem inflammatory syndrome in children (MIS-C), a rare syndrome that develops in some youth following COVID-19. In a story reported by Apoorva Mandavilli, the paper said that “nearly 4,000 children aged 5 to 11 have died from” MIS-C….
Canada Bans Huawei and ZTE From 5G Network on Security Grounds
Canada announced on Thursday that it will ban Chinese telecommunications companies Huawei and ZTE from its 5G wireless infrastructure. Canadian companies will not be able to purchase the equipment and will have to remove the equipment already installed. “There are many hostile actors who are ready to exploit vulnerabilities in our defences. We must redouble…
House Passes Fuel Price-Gouging Bill
May 19, 2022
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Business & EconomycommoditiescongressDemocratseconomic policieseconomyEnvironmentExecutive BranchgasolinehouseinflationMarketsPolicies & ImpactsPoliticsprice-gougingRepublicansScienceUSUS FeaturesUS News
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The House of Representatives passed the Consumer Fuel Price Gouging Prevention Act, by a vote of 217-207 on May 19, taking the country closer to greater government involvement in energy markets as gasoline prices soar to new heights. The bill, H.R. 7688, would let President Joe Biden declare an “energy emergency.” Such an emergency would…
House Passes Fuel Price-Gouging Measure
May 19, 2022
admin
Business & EconomycommoditiescongressDemocratseconomic policieseconomyEnvironmentExecutive BranchgasolinehouseinflationMarketsPolicies & ImpactsPoliticsprice-gougingRepublicansScienceUSUS FeaturesUS News
0 Comment
The House of Representatives passed the Consumer Fuel Price Gouging Prevention Act by a vote of 217–207 on May 19, moving the country closer to greater government involvement in energy markets as gasoline prices soar to new heights. The legislation, H.R. 7688, would allow President Joe Biden to declare an “energy emergency.” Such an emergency…
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