Inflation continued to cool in June but remains above the Federal Reserve’s target. The personal consumption expenditures price index was up 0.2 percent compared with a month ago, a slight pickup in prices compared with the 0.1 percent increase in May. Compared with year ago, the PCE price index is up three percent. The Fed
Breitbart Business Digest: Declining Job Openings May Help Bring Down Inflation
September 28, 2023 by
A Soothing JOLTS The doves got everything they could have wished for out of the Job Openings and Labor Turnover Survey (JOLTS) on Tuesday. Job openings fell to 8.827 million in the August report, which estimates vacancies as of the last business day of July. This is the first time openings have fallen below 9
UAW President: Companies Got Billions from Inflation Reduction Act, Workers Haven’t
September 26, 2023 by
On Monday’s broadcast of CNN’s “The Lead,” UAW President Shawn Fain talked about endorsing a candidate in the 2024 presidential contest and demands to the White House around guarantees for employees around electric vehicle provisions in the Inflation Reduction Act and stated that “it’s back to the same old story. When the corporations come to
Dem Rep. Slotkin: Inflation Hurting Auto Workers Helped Set the Scene for Auto Talks
September 24, 2023 by
On Thursday’s broadcast of CNN’s “Inside Politics,” Rep. and U.S. Senate candidate Elissa Slotkin (D-MI) stated that “the scene for these negotiations” between automakers and the UAW was set by large profits for auto companies and the fact that “people who are working at those facilities…are struggling and have less money in their pockets because
Sanders: I Don’t Regret that Green Provisions in Inflation Reduction Act May Overrun Cost Estimate
July 2, 2023 by
On Thursday’s broadcast of MSNBC’s “All In,” Sen. Bernie Sanders (I-VT) said that he doesn’t regret that the green provisions in the Inflation Reduction Act may end up exceeding their projected cost and “we still have a long way to go” on climate. Host Chris Hayes asked, “The Inflation Reduction Act, there’s something — there’s
Axelrod: Biden’s Approval on Economy ‘Bad, Especially Relative to What He’s Achieved’ Due to Politics, Unease Largely ‘Driven by Inflation’
June 3, 2023 by
On Friday’s broadcast of CNN’s “AC36src,” CNN Senior Political Commentator and former Obama Adviser David Axelrod stated that President Joe Biden’s “economic approval numbers are actually quite bad, especially relative to what he’s achieved” because of political polarization and a “sense of unease” that is largely “driven by inflation” and also due to a “hangover”
CNBC: Majority of People Making $100K or More Say They’re Financially Stressed, Inflation Is Top Cause
April 12, 2023 by
On Tuesday’s broadcast of CNBC’s “Squawk Box,” CNBC Senior Personal Finance Correspondent Sharon Epperson discussed CNBC’s Your Money Financial Confidence Survey that the network conducted with Momentive and noted that even a majority of people earning $100,000 or more say they’re stressed about their personal finances and inflation is the top cause of this. Epperson stated
Summers: There’s Not Much ‘Evidence of a Basic Downwards Trend in Inflation’ and Fed ‘Has Considerably More Work to Do’
April 6, 2023 by
During an interview aired on Friday’s edition of Bloomberg’s “Wall Street Week,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers argued that “we don’t have a lot of evidence of a basic downwards trend in inflation” and the Federal Reserve “has
Harvard Prof., Fmr. IMF Economist Rogoff: Bank Issues Not Fixed ‘at All’ and Things Will ‘Break’ Due to High Inflation, Slow China Growth
April 4, 2023 by
On Thursday’s broadcast of CNBC’s “Squawk Box,” Harvard University Economics Professor and former International Monetary Fund Chief Economist Ken Rogoff argued that the issues around banks have not been fixed “at all” because in a world with higher inflation and interest rates and poor growth in China, “we’re in a situation where things are going
Fmr. Obama Treasury Official Rattner: February CPI ‘Not a Good Thing’ for Getting Inflation to Goal, ‘What the Fed Really Looks at’ ‘Is Rising’
April 4, 2023 by
On Wednesday’s broadcast of MSNBC’s “Morning Joe,” Steve Rattner, who served as counselor to the Treasury Secretary in the Obama administration, stated that the core services inflation metric that the Federal Reserve “really looks at” is “rising and that is not a good thing” to getting inflation down to the target level. Rattner said, “[I]nflation looked
Carney on ‘Kudlow’: The Fed Has Been Fueling Inflation and May ‘Chicken Out’ from Fighting It
March 3, 2023 by
The Federal Reserve’s accommodative economic policies have been fueling inflation and now Fed officials may “chicken out” from raising interest rates higher at their next meeting, Breitbart Economics Editor John Carney said in an interview Friday on Larry Kudlow’s eponymously named Fox Business show. The personal consumption expenditure (PCE) data released Friday makes clear that Fed
Carney on ‘Kudlow’: The Fed’s ‘Historic Mistake’ in Cutting Rates ‘Refueled Inflation’
March 2, 2023 by
The Federal Reserve’s decision to scale back rate hikes at their last two meetings will be “looked at as an historic mistake because that refueled inflation,” Breitbart Economics Editor John Carney said in an interview Wednesday on Larry Kudlow’s eponymously named Fox Business show. “I think that a lot of people thought that inflation was
Exclusive—Alfredo Ortiz: Today’s Historic Inflation Discredits Big Government
March 1, 2023 by
Nobel Prize-winning economist Milton Friedman explained, “Inflation is always and everywhere a monetary phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” On the campaign trail, President Biden said, “Milton Friedman isn’t running the show anymore.” Talk about tempting
Joe Biden Not Worried About Inflation or Stock Market Plunge: ‘We’re Going to Be Fine’
November 16, 2022 by
President Joe Biden shrugged off the latest unexpectedly high inflation numbers on Tuesday even as they triggered a sudden plunge in the stock market. “I think we’re going to be fine,” Biden told reporters Tuesday night when asked about the disappointing data release earlier in the day. The president spoke briefly to reporters after traveling
Carney on ‘Kudlow’: The Big Biden ‘Lie That Got Us Inflation’
November 11, 2022 by
“This is the lie that got us inflation,” Breitbart Economics Editor John Carney said in response to President Joe Biden’s remarks on Wednesday touting his administration’s spending policies and dodging any blame for inflation. Carney appeared on Larry Kudlow’s eponymously named Fox Business show on Wednesday following Biden’s first press conference after Tuesday’s midterm elections.
Americans Fear Inflation Will Worsen if Democrats Control Congress After Election
November 8, 2022 by
Americans fear rising costs will worsen if Democrats retain control of Congress after the midterm election, an Axios-Ipsos poll found over the weekend. Experts project inflation will cost American families $5,520 in 2022. Since the Democrats assumed control of the legislative and executive branches of government, Americans have lost $4,200 in annual income, a recent Heritage Foundation study shows. Sixty-one percent of general
Nevada Trump Rally: Joe Lombardo, Adam Laxalt Hammer Democrat Opponents Over Skyrocketing Inflation
November 6, 2022 by
Nevada Republican gubernatorial candidate Joe Lombardo and U.S. Senate candidate Adam Laxalt slammed their Democrat opponents for the state’s nearly 16 percent inflation while speaking to an energized crowd during a Trump rally in Minden, Nevada, on Saturday evening. “If we do not finish this red wave off in 2src22, we’re just going to be California,”
Inflation Surges Higher in Importance for Black and Hispanic Americans
November 6, 2022 by
Inflation is increasingly important to a broadening super-majority of Americans even as the Federal Reserve’s efforts to slow down price hikes have driven up interest rates at the fastest pace in decades. Seventy-four percent of American adults rate the inflation issue as “very important,” according to a recent poll from the Economist and YouGov. The poll
Fmr. Obama Treasury Counselor Rattner: Powell Got Inflation Wrong Because WH Was Wrong and He’s ‘a Team Player’
November 4, 2022 by
On Thursday’s broadcast of MSNBC’s “Morning Joe,” Steve Rattner, who served as counselor to the Treasury Secretary in the Obama administration, argued that Federal Reserve Chairman Jerome Powell got inflation wrong in part because “the White House was signaling that they thought inflation was going to come down.” And Powell “is a team player” who was
Fmr. Obama Treasury Counselor Rattner: We’ll Have ‘Higher Rates for the Foreseeable Future,’ Inflation Isn’t Declining Due to Stimulus
November 4, 2022 by
On Thursday’s broadcast of MSNBC’s “Morning Joe,” Steve Rattner, who served as counselor to the Treasury Secretary in the Obama administration, predicted higher interest rates “for the foreseeable future,” and said that inflation isn’t declining in part due to people still spending the large amounts of stimulus they got during the pandemic. Rattner also stated that
Cortez Masto on Claims Dem Policies Caused Inflation: Inflation Reduction Act ‘a Great First Start’ to Fighting Inflation
November 2, 2022 by
During a portion of an interview with CBS News Correspondent Lilia Luciano released on Thursday, Sen. Catherine Cortez Masto (D-NV) responded to a question on how she responds to criticism from her opponent, former Nevada Attorney General Adam Laxalt (R), that Democratic policies have created inflation by stating that “the Inflation Reduction Act was a great…
Dem Rep. Lawrence: Inflation Is ‘the Sole Issue’ Republicans Can Talk about –
November 2, 2022 by
On Saturday’s broadcast of MSNBC’s “Velshi,” Rep. Brenda Lawrence (D-MI) stated that inflation is “important” but it’s “interesting, with everything else that’s going on in the world, that is the sole issue that the Republicans” can talk about. Lawrence stated that there are “other countries that are going through a global epidemic when it comes…
Democrat Patty Murray Champions ‘Inflation Reduction’ Act as Economists Say Spending Worsened Inflation
November 2, 2022 by
Sen. Patty Murray (D-WA) touted her support for the so-called “Inflation Reduction” Act at Sunday evening’s Senate debate with her opponent, Republican Tiffany Smiley, who is putting her through a tough reelection campaign. Smiley said Murray’s support “sounds like a Washington, DC, answer to me,” telling the 30-year incumbent, “you are Washington, DC.” “Sen. Murray…
Poll: Half of Voters Say Economy, Inflation Top Issue Going into Midterms
November 1, 2022 by
Half of U.S. voters say the economy or inflation is their number one issue heading into the November 8 midterm elections, according to a recent ABC/Ipsos poll. The poll shows that 28 percent of registered voters say the economy is their single most important issue for determining their ballot, while 22 percent say inflation is.…
Kraft Heinz CEO: Inflation and Supply Shortages Here to Stay for a While
October 26, 2022 by
Kraft Heinz CEO Miguel Patricio said Monday he does not see higher inflation and supply chain issues ending in the near future. “We’ve already increased the prices that we were expecting this year, but I’m predicting that next year, inflation will continue, and as a consequence [we] will have other rounds of price increases,” Patricio…
Economists: Inflation Can’t Be Reined In Without Tanking The Economy
October 19, 2022 by
Nearly three quarters of business economists believe that the Federal Reserve will not be able to bring inflation back to its target of 2% in the next two years without inducing a recession, according to a poll by the National Association for Business Economics (NABE) released Monday.Roughly 19% of respondents believed that the U.S. was…
Hageman: Cheney Lost Due to Obsessive Focus on Trump When Voters Cared about Inflation, Energy, Illegal Immigration
October 4, 2022 by
On Tuesday’s broadcast of the Fox News Channel’s “Ingraham Angle,” Wyoming Congressional candidate Harriet Hageman (R) stated that her opponent Rep. Liz Cheney (R-WY) lost in large part because “She’s not focusing on Wyoming. She’s not focusing on our issues. She’s still focusing on an obsession [with] President Trump.” And that inflation, illegal immigration, and energy…
Jamie Raskin Dodges Question on How ‘Inflation Reduction’ Act Reduces Inflation
October 3, 2022 by
Rep. Jamie Raskin (D-MD) dodged a question recently on how the Inflation Reduction Act would reduce inflation, as multiple studies have found that it would do little to nothing to reduce inflation. One reporter asked Raskin, “What parts of the bill do you think will put to work on [lowering inflation] specifically?” “What parts of…
Dem Rep. Titus on CBO Estimates Inflation Act Won’t Impact Inflation Much in Next Year: ‘Inflation Is Already Coming Down’
September 29, 2022 by
On Saturday’s “CNN Newsroom,” Rep. Dina Titus (D-NV) responded to an estimate by the Congressional Budget Office (CBO) that the Inflation Reduction Act won’t have much of an impact on inflation this year or next year by saying that many economists say “inflation is already coming down. Gas prices are coming down. So, I believe…
Worries About Big Ticket Item Inflation Hit Worse Level Since 1982
June 12, 2021 by
The last time Americans were this unhappy about prices of big-ticket purchases was 1982, when the Federal Reserve was fighting a war against double-digit inflation. The University of Michigan’s survey of consumer sentiment showed U.S. consumers more concerned with higher prices of appliances, houses, and cars than anytime in 39 years, according to the survey’s…