Although our legacy media have dutifully described the Chuck Schumer (D-N.Y.)/Joe Manchin (D-W.Va.) climate bill as the “Inflation Reduction Act,” it’s no stretch to call that a misnomer.
Amazon, one of the largest tech employers in the world, has revealed that it is now hiring at the slowest pace since 2019 and has cut over 100,000 employees globally in the June quarter, likely due to the dramatic economic slowdown since 2021.
President Joe Biden is planning to call on Congress on Wednesday to pass legislation that will establish a federal gas tax holiday for three months as part of the administration's effort to lower prices at the pump.
"Our clients' portfolios—which reflect the global economy—cannot reach net zero without sustained and consistent government policy, accelerated technological breakthroughs, and substantial adaptation in corporate business models," says BlackRock.
The Biden administration plans to freeze federal student loan payments through Aug. 31, extending a moratorium that has allowed millions of Americans to postpone payments during the coronavirus pandemic, according to an administration official familiar with the White House’s decision-making.
Runaway house price inflation continues to characterize the U.S. market. House prices across the country rose 15.8% on average in October 2021 from the year before. U.S. house prices are far over their 2006 Bubble peak, and remain over the Bubble peak even after adjustment for consumer price inflation.
