Unemployment

Bank of America Forecasts a Recession This Year With Economy Shrinking 1.4%

Bank of America has downgraded its expectations for the economy this year to include a “mild recession.”

Americans’ Inflation Forecasts Hit Another Record High

Americans’ short-term inflation expectations continue to rise, according to June survey results released on Monday by the Federal Reserve Bank of New York.

White House Report Card: Biden Stuck in Neutral

This week’s White House Report Card finds President Joe Biden tripping his way through a week of clashing headlines.

75 Percent of ‘Poorly Targeted’ $800 Billion PPP Money Sent to Unintended Recipients: Study

A multi-billion-dollar pandemic-era stimulus program meant chiefly to help small businesses keep staff on the payroll and hire back laid off employees was poorly...

DeSantis Effect: At $21.8 Billion, Florida Records Highest Surplus in State History

The state of Florida saw a surplus of $21.8 billion for the 2022 fiscal year, the highest in state history and more than 21% higher than the state's spending plan, Gov. Ron DeSantis said Thursday.

Americans Become Deeply Pessimistic About Economy as Consumer Confidence Hits Record Low

American consumers have never been this pessimistic about the economy, with the University of Michigan consumer confidence index plunging to a record low, as soaring inflation erodes household purchasing power and threatens a cost-of-living crisis.

Biden Adviser Sperling on Recession Fears: ‘Too Many People’ ‘Not Realizing’ How Successful Our Policies Were

On Friday’s broadcast of MSNBC’s “Chris Jansing Reports,” Senior Adviser to President Joe Biden Gene Sperling responded to a survey showing that a majority...

US Stocks Sink to Lowest in a Year

US stocks plummeted on Thursday, with the Dow Jones Industrial Average falling 700 points below 30,000 for the first time in more than a year.

Fed Hikes Rates by the Most in 28 Years, Signals Volcker-Era Is Back

The Fed hiked rates by a stunning (but expected) 75bps - the biggest hike since 1994. Esther George dissented (preferring 50bps).

Respect the Fed? No, End the Fed

President Joe Biden has unveiled a three-part plan to fight inflation — or at least make people think he is fighting inflation. One part...

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