Inflation is racking the US economy, and voters blame President Biden. Twice as many people think his actions are hurting the economy as helping, and nearly half think his policies will push inflation even higher, a poll shows.
The Congressional Budget Office (CBO) released an analysis on Friday estimating that President Joe Biden's 'Build Back Better' (BBB) plan could increase the federal deficit by $3 trillion over the next decade if the proposed programs are made permanent, according to CNN.
Inflation numbers due to be released later Friday by the U.S. Bureau of Labor Statistics (BLS) are expected to show consumer prices rising at their fastest pace since 1982, with investors bracing for what could be a market-moving data drop.
President Joe Biden has picked Federal Reserve Chair Jerome Powell to serve a second four-year term at the helm of the central bank, while nominating Lael Brainard, the only Democrat on the Fed’s seven-member board, to serve as second-in-command at the Fed.
Inflation outstripped forecasts and surged above 4 per cent last month to hit its highest level in almost a decade as spiralling energy prices pushed up the cost of living.
The United States is likely to see greater inflation risks from record-high housing prices as demand continues to outstrip the number of newly-built homes while bottlenecks in supply chains slow construction, Federal Reserve Governor Michelle Bowman said on Monday.
McDonald's is significantly hiking menu prices this year in order to keep pace with rising wages for employees and the costs associated with America's labor shortage and supply chain crises, according to the Wall Street Journal.
The public deserves a complete and transparent accounting of the Centers for Disease Control and Prevention’s safety monitoring, including the results of all interim reports and analyses, whether through an Freedom of Information Act request, Congressional order or some other means.
