The National Federation of Independent Business’ (NFIB) Small Business Optimism Index increased in July, but remained below its 48-year average, indicating the struggle facing the sector. The July index came in at 89.9, up 0.4 points. But it was the sixth consecutive month that the index was below its 48-year average of 98, an Aug….
Small-Business Sentiment Remains Low as Firms Struggle With Inflation
August 10, 2022
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Sen Hawley Says GOP Can Learn From Dems After Legislative Victory
August 9, 2022
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economic recessionhigh inflationInflation Reduction Act of 2022Policies & ImpactsPoliticsRepublicansSen. josh HawleyUS
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Sen. Josh Hawley (R-Mo.) has asked his party members to potentially learn from their Democrat opponents about how to push forward bills. Hawley’s comments came after the Democrats succeeded in getting the Inflation Reduction Act passed in a 50–50 vote, with Vice President Kamala Harris providing the tie-breaker. “I’ll give the Dems this. With a…
Sen. Hawley Says GOP Can Learn From Democrats After Legislative Victory
August 9, 2022
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economic recessionhigh inflationInflation Reduction Act of 2022Policies & ImpactsPoliticsRepublicansSen. josh HawleyUS
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Sen. Josh Hawley (R-Mo.) has asked his party members to potentially learn from their Democrat opponents about how to push forward bills. Hawley’s comments came after the Democrats succeeded in getting the Inflation Reduction Act passed in a 50–50 vote, with Vice President Kamala Harris providing the tie-breaker. “I’ll give the Dems this. With a…
Democrats Refusing to Ban Middle-Class Tax Hikes in New Spending Bill
August 8, 2022
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Business & Marketseconomyhigh inflationinflationInflation Reduction Act of 2022over-taxationPolicies & ImpactsPoliticsU.S. middle classUS
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Democrats rejected a Republican proposal to ban tax hikes for the middle class while passing its new Inflation Reduction Act spending bill on Aug. 7. U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) filed an amendment to prevent the Internal Revenue Service (IRS) from using the $80 billion in new funds allocated under the…
Inflation Reduction Act Will Add to Deficit for First Six Years: CBO
August 4, 2022
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budget deficitBusiness & Marketseconomyhigh inflationinflationInflation Reduction ActstagflationUSUS NewsUS Sen. Joe Manchin
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A recent report by the Congressional Budget Office (CBO) shows that Senate Democrats’ proposed Inflation Reduction Act will raise the budget deficit within the next six years. In the 10-year period between 2022 and 2031, the Inflation Reduction Act is calculated to reduce the budget deficit by $101.5 billion, according to the CBO report published…
Walmart Selling Refurbished Products to Inflation-Weary Shoppers as Recession Looms
August 1, 2022
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Business & MarketsCompaniesdisposable incomeeconomyhigh inflationinflationrefurbishedUSUS NewsWalmart
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Retail giant Walmart announced a new program created to help customers discover refurbished products at “everyday low prices.” As people look for ways to save money, “like-new” refurbished items have become a popular way to reduce costs without compromising on quality, Walmart said in a July 29 news release. Walmart already works with sellers and…
Inflation ‘Episodic’ and Fossil Fuels Are Never Going Away: Billionaire Investor
Charlie Munger, the vice chairman of Warren Buffet’s Berkshire Hathaway, is not particularly worried about inflation, and believes people will be using fossil fuels for a long time. Inflation is “always with us in an episodic way,” Munger said in an interview published by the Australian Financial Review on July 12. “That’s what modernity causes….
Former Treasury Secretary Says Fed ‘Lost Its Way’ Focusing on Social Justice Instead of Inflation
July 18, 2022
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Business & Marketseconomic policieseconomyFederal Reserve (Fed)high inflationinflationLarry Summerssocial justice warriorstransitoryUS
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Larry Summers, who served as treasury secretary under President Bill Clinton, has said the Federal Reserve failed to anticipate current inflation levels and that price increases can only be arrested by “dislocation” of the economy. “Frankly, I think in 2021, our central bank lost its way,” Summers said in a July 15 interview with Bloomberg’s “Wall…
Fix for ‘Eyepopping’ Inflation Is Slashing Government Deficit, Budget Watchdog Says
July 18, 2022
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budget deficitBusiness & MarketsCongressional Budget Officeeconomic policieseconomic recessioneconomyFederal budget deficithigh inflationinflationUS
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Cutting down the government’s budget is the best way to deal with out-of-control inflation, according to Maya MacGuineas, president of the Committee for a Responsible Federal Budget (CRFB). Annual inflation hit 9.1 percent in June, which is a new four-decade high. Calling inflation numbers “eyepopping,” MacGuineas said that taming it should be a “top national…
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Citi Analysts Warn of Red Flag in Stocks, Same Signal That Preceded Major Equities Crashes
Analysts at Citigroup have signaled a significant red flag in the global stock market that has previously foreshadowed major crashes. “Our index of global sell-side stock calls is back at peak bullishness, so triggering a red flag in our Bear Market Checklist. Analysts are most bullish in the U.S. and, increasingly, EM [emerging markets]. They…