Rising inflation and the price increases that come with it may lead to the highest raise for senior citizens in decades. The Senior Citizens League predicted Thursday that the annual cost-of-living adjustment for 2022 Social Security payments could be the highest since 1983. The prediction comes as federal data this week showed two major signs…
Rising Inflation Could Mean Largest Social Security Increase Since 1983
Single-Family Home Prices Soar by 23 Percent In Q2 Over Year Ago, Sharpest Rise on Record
A shortage of housing stock combined with robust homebuyer demand and low mortgage rates sent U.S. home prices soaring by the highest annual rate on record in the second quarter, according to data from the National Association of Realtors (NAR). The median price of an existing single-family home surged by 22.9 percent in the second…
Single-Family Home Prices Soar by 23 Percent, Sharpest Rise on Record
A shortage of housing stock combined with robust homebuyer demand and low mortgage rates sent U.S. home prices soaring by the highest annual rate on record in the second quarter, according to data from the National Association of Realtors (NAR). The median price of an existing single-family home surged by 22.9 percent in the second…
Number of US Workers Filing Weekly Unemployment Claims Falls
The number of Americans filing for unemployment fell last week to near a pandemic-era low in a sign of ongoing labor market recovery. Initial filings for unemployment insurance, a proxy for layoffs, came in at 375,000 for the week ending Aug. 7, a drop of 12,000 over the previous week’s revised level of 387,000, the…
Prime Minister Calls for ‘Upgrade’ to Australia-US Trade Relationship
August 11, 2021
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Asia & PacificAustraliaBusiness & EconomyChinaChina-Australia RelationsEconomiesInternationalPrime Minister Scott MorrisonUSUS NewsUS-Australia RelationsWorld
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Prime Minister Scott Morrison is calling for an upgrade to the already comprehensive free-trade relationship between Australia and the United States, amid rising geopolitical competition with Beijing. In an address to the Australian American Leadership Dialogue on Aug. 11, the prime minister spoke of the military ramp-up Australia was undergoing and stressed that it would…
Kansas Fed Chief Warns Policymakers to Be on Guard for Rising Inflation Expectations
Kansas City Federal Reserve President Esther George on Wednesday struck a cautionary note about consumers’ expectations for further price increases, urging policymakers to monitor inflation expectations carefully as they mull dialing back the Fed’s extraordinary support measures for the economy. U.S. consumers are much more aware of inflation levels today than they have been over…
Inflation Slows in July But Still a Concern as It Broadens and Stays Historically High
Consumer prices rose in July at their slowest monthly pace since February, though a broadening of price pressures suggests inflation may be more persistent than Federal Reserve officials predict, offering little relief to American households rocked by months of surging prices. The Labor Department said in a report Wednesday that the consumer price index (CPI) jumped…
Inflation Growth Slows in July but Still a Concern as It Broadens and Stays Historically High
Consumer prices rose in July at their slowest monthly pace since February, though a broadening of price pressures suggests inflation may be more persistent than Federal Reserve officials predict, offering little relief to American households rocked by months of surging prices. The Labor Department said in a report Wednesday that the consumer price index (CPI) jumped…
Inflation Growth Slows in July, Still a Concern as It Broadens and Stays Historically High
Consumer prices rose in July at their slowest monthly pace since February, although a broadening of price pressures suggests that inflation may be more persistent than Federal Reserve officials predict, offering little relief to American households rocked by months of surging prices. The Labor Department said in a report on Aug. 11 that the consumer price…
Sen. Cruz Warns That Bipartisan Infrastructure Bill Could ‘Obliterate’ Cryptocurrency
August 10, 2021
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Bipartisan infrastructure billBusiness & EconomycongresscryptocurrencyEconomieseconomyPoliticsUSUS News
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The Senate voted on and passed the bipartisan $1.2 trillion Infrastructure Investment and Jobs Act on Tuesday. The bill has undergone several amendments and debates, but Republican and Democratic senators alike still express concerns over the language in a section of the bill that they fear could destroy the blooming cryptocurrency industry. Sen. Ted Cruz…
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