Economy

How Liz Truss pushed the UK to the brink of recession in just one month | UK News

Britain’s new prime minister, Liz Truss, has been in office for less than a month, but her job as prime minister is already in crisis as Britain teeters on the brink of recession. Truss took over from Boris Johnson in early September and was immediately thrown into the thick of things, with the death of …

How Liz Truss pushed the UK to the brink of recession in just one month | UK News Read More »

Energy expert says California's windfall tax is a bad idea

Energy expert says California’s windfall tax is a bad idea

Find out what clicks on FoxBusiness.com California’s imposition of a windfall tax on oil companies would be damaging, according to an energy expert who spoke to FOX Business. California Democratic Governor Gavin Newsom on Friday called for a windfall tax to be levied on profits above a set amount for companies involved in oil extraction, …

Energy expert says California’s windfall tax is a bad idea Read More »

Cuba asks for US help after Hurricane Ian knocks out power, reports The Wall Street Journal

Cuba asks for US help after Hurricane Ian knocks out power, reports The Wall Street Journal

WASHINGTON, Sept 30 (Reuters) – The Cuban government has made a rare request for emergency aid from U.S. President Joe Biden’s administration after Hurricane Ian knocked out power to the entire island of 11 million. residents, the Wall Street Journal reported on Friday. Hurricane Ian swept through the island nation on Tuesday, causing power outages …

Cuba asks for US help after Hurricane Ian knocks out power, reports The Wall Street Journal Read More »

Gross domestic income revised lower, undermining WH recession claims, heritage expert says

Gross domestic income revised lower, undermining WH recession claims, heritage expert says

Fox Business’ Cheryl Casone and Fox News contributor Michael Goodwin discuss the economy’s 0.06% contraction in the spring in “Mornings with Maria.” A data point used by the Biden administration as proof that the country is not in recession was revised this week in the latest batch of economic data released by the Commerce Department. …

Gross domestic income revised lower, undermining WH recession claims, heritage expert says Read More »

Food stamp benefits to jump 12.5% ​​from October due to inflation

Food stamp benefits to jump 12.5% ​​from October due to inflation

CNN — In October, it will be a little easier for food stamp recipients to buy groceries. Their monthly benefits increase by 12.5%, or $104 for a family of four, thanks to soaring inflation, according to the US Department of Agriculture. This brings the maximum benefit for this household size to $939 per month, up …

Food stamp benefits to jump 12.5% ​​from October due to inflation Read More »

US consumers reject cars, sofas and cruises, results show

US consumers reject cars, sofas and cruises, results show

Sen. Ron Johnson, R-Wis., denounces reckless government spending and FBI crackdown on “Kudlow.” U.S. consumers are showing frailty ahead of peak business earnings season next month as some struggle to pay bills and others slow purchases of cars, sneakers and household items, findings show. of the week. Data released on Friday showed consumer spending in …

US consumers reject cars, sofas and cruises, results show Read More »

Inflation relief controls: Why some economists warn they could fuel higher prices

Inflation relief controls: Why some economists warn they could fuel higher prices

Washington CNN — Several states are sending money to taxpayers to help them deal with inflation, but some economists warn that the payments will do little to ease the pain of rising costs and could fuel further inflation. In California, for example, about 23 million eligible taxpayers are expected to receive up to $1,500, with …

Inflation relief controls: Why some economists warn they could fuel higher prices Read More »

Fed's Brainard warns restrictive interest rates may be needed 'for a while'

Fed’s Brainard warns restrictive interest rates may be needed ‘for a while’

PCE core price index warmer than expected as US inflation continues to rage Federal Reserve Vice Chairman Lael Brainard on Friday underscored the need to fight scorching inflation with higher interest rates and promised the central bank would not give up on tighter monetary policy prematurely. In a speech at the Federal Reserve Bank of …

Fed’s Brainard warns restrictive interest rates may be needed ‘for a while’ Read More »