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"The real danger with all of this is whether or not we are going to get the same incoherent set of impositions on our lives as the first few waves. Those in power should tread lightly because they truly have worn our patience thin for what is becoming far too long." ~ Ethan Yang
Factories across the world are suffering from supply bottlenecks which sent prices skyrocketing in July, while a new wave of coronavirus infections in Asia demonstrated the fragile nature of the global recovery.
Fed Chairman Powell’s Approach to Regulation Has Drawn Criticism From Some Democrats: WSJAug 2, 2021 - 07:27:12 PDT
Some progressive Democrats say Jerome Powell’s Federal Reserve hasn’t been tough enough on large financial firms, arguing that the central bank’s tweaks to rules adopted after the 2008-09 financial crisis significantly softened the impact of the 2010 Dodd-Frank law.
Progressive Democratic lawmakers on Friday proposed legislation that would hand over recurring stimulus checks, or guaranteed income, with monthly payments of up to $1,200 for adults …
Using the same Consumer Price Index numbers but a different methodology, we will show in this analysis that the United States is currently experiencing the highest sustained rate of inflation in 40 years - not 13 years.
Congress recessed for the summer passing neither the infrastructure nor spending bills that were the focus of all of Washington’s attention for weeks thanks to Krysten Sinema from Arizona. She personally torpedoed the Biden Administration’s signature piece of legislation that took months to wrangle to that point and then gave the whole thing a big...
Treasury Dept To Invoke ‘Extraordinary Measures’ As Congress Misses Debt-Ceiling DeadlineAug 2, 2021 - 05:40:02 PDT
The new debt limit will include Washington’s additional borrowing since summer 2019. The Congressional Budget Office estimated in July that the new cap will likely come in just north of $28.5 trillion.
Companies Pay New Workers Higher Wages, and Current Employees Ask, ‘What About Us?’: WSJAug 2, 2021 - 05:39:02 PDT
Companies across the U.S. are raising the pay floor for new employees in a difficult hiring market, prompting longtime workers to reassess their own compensation and get more.
U.S. Will Not Lock Down Despite Surge Driven by Delta Variant, Fauci SaysAug 2, 2021 - 05:36:49 PDT
The United States will not lock down again to curb COVID-19 but "things are going to get worse" as the Delta variant fuels a surge in cases, mostly among the unvaccinated, top U.S. infectious disease expert Dr. Anthony Fauci said on Sunday.
Xi Jinping smiled and hinted at a policy bombshell that would soon roil stock markets from Shanghai to New York.It was mid-June, and the most powerful Chinese Communist Party leader since Mao Zedong was holding court at an after-school club for elementary students in the remote city of Xining. Acknowledging the growing pressure on students and their...
The U.S. and Israel vowed to respond to a deadly drone attack on a tanker last week in a major waterway for global oil shipments that they blamed on Iran.Middle East foes Iran and Israel have traded multiple accusations of shipping attacks in recent months. But Thursday’s strike off the coast of Oman, which Tehran denied carrying out, was the first to...
Aug 2, 2021 - 05:31:51 PDT
Wayne Kayler knew that his shipping container was parked somewhere in Chicago’s railroad yard. He didn’t know where he was and no one could tell him for 78 days. Due to the surge in consumer demand, depots, ports and warehouses in the United States are clogged with cargo, too few people to move quickly, causing …
.Producers couldn’t keep up with supercharged consumer demand in the U.S. last quarter, and it’s unclear when supply constraints will ease.Materials shortages and shipping delays led to outsized drawdowns in inventories as companies scrambled to meet one of the strongest paces of consumer spending since the 1950s and robust growth in business...
A leading US bond manager has warned of inflationary pressure from housing rental costs that could push interest rates higher and overturn a sense of complacency among investors.
Russia’s central bank governor has warned that inflation is set to be a long- term phenomenon in her country, signalling that the bank is likely to continue with its tough monetary policy stance.
The U.S. jobs market still has some ways to go before it improves enough to satisfy the Federal Reserve’s criteria for beginning to reduce its asset purchases, Governor Lael Brainard said Friday.In the text of a speech intended for delivery to the Aspen Economic Strategy Group, Brained also suggested that the recent surge in inflation is likely to prove...
Aug 2, 2021 - 05:17:39 PDT
Dry wells, low rivers and other problems are creating emergencies across Northern California
Anger and frustration mounted in Congress over the weekend as a nationwide eviction moratorium expired during a surge in the Covid-19 pandemic.
Programs paying expanded unemployment benefits are ending nationally on Sept. 6. It doesn't appear lawmakers will extend the deadline again.
Crackdown Shows China’s Ready To Do ‘Whatever It Takes’ When It Sees Social ProblemsAug 2, 2021 - 05:08:11 PDT
Chinese tech and education stocks have been rocked by regulatory uncertainty in recent sessions, including some listed in the U.S.