Hotel prices are shooting up to extreme highs as Americans flock to projected hotspots to view the upcoming solar eclipse on Monday. Susan Hochman of New York City has been planning to travel to see the event for years, telling CBS News she is about to shell out $650 for just one night in a
Inflation Reignites: Fed’s Favorite Inflation Gauge Shows Prices Rising Again
March 28, 2024 by
A key measure of inflation in the U.S. showed that prices climbed again in December, suggesting the respite from rising prices seen in the prior month was short-lived. The personal consumption expenditure price index rose 0.2 percent compared with the prior month, in line with expectations and an increase from the negative 0.1 percent reading
Inflation Reignites: Consumer Prices Rose at a Faster Pace in December
March 14, 2024 by
Inflation accelerated more than expected in December, marking the thirty-third consecutive month with annual prices rising significantly faster than the two percent target seen as healthy by the Federal Reserve. The consumer-price index, the Labor Departmentâs broad measurement of what consumers pay for goods and services, rose 3.4 in December from a year earlier. Economists
Bloomberg’s Abramowicz: Biden Has a Conflict Between Lowering Oil Prices, Enforcing Iran Sanctions
October 11, 2023 by
On Tuesdayâs broadcast of Bloombergâs âSurveillance,â co-host Lisa Abramowicz stated that the Biden administration faces a direct conflict between its desire to bring down oil prices in the United States and clamping down on Iranian oil revenue through the strict enforcement of sanctions on Iranâs oil supply, because if you want to lower American oil prices
Turkey Prices Set to Soar for Thanksgiving
October 26, 2022 by
Turkey prices are set to gobble up a bigger part of family budgets this Thanksgiving. Farmers are grappling with inflation, drought, and avian flu, which could drive prices higher as Thanksgiving approaches, Fox Weather reported Thursday. âThereâs [sic] appears to be still some hangover from the avian influenza outbreaks that we had this spring, so…
Summers: We’re Going to Have to Replace Oil Released from SPR, Which Will Raise Prices
October 23, 2022 by
During an interview aired on Fridayâs edition of Bloombergâs âWall Street Week,â Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers stated that while he agrees with the initial release from the Strategic Petroleum Reserve done by the Biden administration, he isnât…
Oil Prices Hit New Highs Amid Texas Freeze
February 15, 2021 by
The deep freeze that has covered parts of Texas in ice and dropped temperatures into the single digits helped push the price of West Texas Intermediate crude above $60 a barrel for the first time in over a year. WTI crude futures gained 1.09 percent to hit $60.12 a barrel Monday morning, the first time…
Trump Touts Proposal to Lower Drug Prices.
May 12, 2018 by
“We are getting tough on the drug makers that exploit our patent laws to choke out competition,” President Trump said outside the White House Friday outlining his plan to lower prescription drug prices. “Our patent system will reward innovation,” he said. “But it will not be used as a shield to protect unfair monopolies.” The […]
Foreign Freeloading to Blame for High Drug Prices.
February 14, 2018 by
Americans are suffering pharmaceutical sticker shock. But the remedy Democrats are backing — price controls on prescription drugs — would inflict more harm by halting new discoveries and dooming patients waiting for cures. Since 1950, our increasing longevity — an amazing 10 extra years of life for the average American — has been mainly the […]