Why the 2024 Election Might Turn on Pennsylvania’s Economy: Kevin T. Dugan speaks with Moody’s chief economist, Mark Zandi, about the disconnect between economic ...
nymag.com/intelligencer/article/the-economy-is-roaring-will-it-matter-for-biden.html
Biden calls out 'shrinkflation' as part of a broader strategy to reframe how voters view the economy
apnews.com/article/biden-state-of-union-shrinkflation-7bb0d90a7736431fa44505643009b05d
US import prices rise moderately in February: U.S. import prices increased marginally in February as a surge in the cost of petroleum products was partially ...
reuters.com/markets/us/us-import-prices-rise-moderately-february-2024-03-15/
Economy Chief Says Chile’s Lithium Products Likely to Get US Subsidies: Chile is betting that components made with its lithium will qualify for subsidies under ...
bloomberg.com/news/articles/2024-03-15/economy-chief-says-chile-s-lithium-products-likely-to-get-us-subsidies
Voters feel better about the economy. Will it help Biden?: Inflation is down and "vibes" are up - but younger Americans especially remain sceptical after the ...
bbc.com/news/business-68254587
Do gas exports help or hurt American prices?: Has the boom in American natural gas exports come at the expense of American households? That question has become a ...
thehill.com/policy/energy-environment/4471286-american-natural-gas-prices-exports-help-hurt/
LIVE: US Treasury Secretary Janet Yellen speaks on lowering health care, drug costs
U.S. Treasury Secretary Janet Yellen speaks in Pittsburgh, Pennsylvania ... Show more
Some Democrats hate it, but ‘Bidenomics’ isn’t going anywhere: When President Joe Biden visits Pennsylvania on Friday — his first official event of the year ...
cnn.com/2024/01/12/politics/joe-biden-bidenomics-pennsylvania/
Gov. Shapiro is pitching more funding for Pa.’s struggling transit systems. Will the state Senate agree?
pennlive.com/news/2024/01/gov-shapiro-is-pitching-more-funding-for-pas-struggling-transit-systems-will-the-state-senate-agree.html
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President Biden visits Lehigh Valley businesses in second trip to Pennsylvania in seven days
inquirer.com/politics/pennsylvania/president-biden-lehigh-valley-visit-20240112.html
Cookie Monster's social post on 'shrinkflation' sparks White House response: The iconic children's character's post went viral — and got political.
thestreet.com/personal-finance/cookie-monster-talks-shrinkflation
Alcohol excise tax capped at 2 per cent for two more years, Freeland announces: It had been set to rise on April 1 by 4.7 per cent, tied to inflation ...
montrealgazette.com/news/national/alcohol-excise-tax-capped-at-2-per-cent-for-two-more-years-freeland-announces
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Hopes for rate cuts are the problem, not 3% inflation: SEI's Solloway: Inflation rose at a higher-than-expected rate of 3.4% last month, damping market ...
businessinsider.com/markets-inflation-interest-rates-cut-expectations-economy-fed-sei-solloway-2024-1
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Rail fares in England and Wales rise by nearly five per cent: ail fares in England and Wales are rising by nearly 5 despite train cancellations being among the ...
chesterstandard.co.uk/news/24158656.rail-fares-england-wales-rise-nearly-five-per-cent/
Low inventory, higher prices and intense bidding wars tighten grip on Pittsburgh’s spring real estate market
post-gazette.com/business/money/2024/03/10/pittsburgh-housing-market-seller-buyer-inventory-mortgage-rates/stories/202403100019
Pennsylvania is getting millions from the Inflation Reduction Act to cut emissions and cap leaking wells
post-gazette.com/business/powersource/2023/12/27/shapiro-abandoned-wells-methane-inflation-reduction-act/stories/202312280043
N.Y.’s minimum wage will be more than double Pennsylvania’s: The minimum wage in Pennsylvania remains $7.25/hour, lower than in all its neighboring states.
pennlive.com/politics/2023/12/nys-minimum-wage-will-be-more-than-double-pennsylvanias.html
State funding for Penn State, Pitt, and Temple hasn’t kept pace with inflation, data show
pennlive.com/news/2024/01/state-funding-for-penn-state-pitt-and-temple-hasnt-kept-pace-with-inflation-data-show.html
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‘The era of “do nothing, the boss can’t fire me” is over’ says Ivy League professor Jeremy Siegel, as workers face down fear of layoffs
fortune.com/2023/11/07/jeremy-siegel-do-nothing-era-is-over-labor-market/
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Quick Glance: Workplace Anxiety Driving Productivity
- Professor Jeremy Siegel of the Wharton School of the University of Pennsylvania suggests that fear of layoffs has actually contributed to the increase in productivity.
- Productivity has surged, partially due to workers' fear of being laid off, according to Professor Siegel.
- Professor Siegel anticipates this productivity surge to continue, partially supported by advancements in artificial intelligence.
- Siegel is disappointed in the Fed's lack of attention to productivity in the macroeconomic environment, and believes this will result in another pause from the Fed in December unless something extraordinary happens in the coming weeks.
Will savings interest rates stay high in 2024?: Experian analysis finds that savings interest rates will likely decrease in 2024, but not by much.
kentucky.com/news/business/article284029743.html
Turkeys new central bank chief vows to maintain tight monetary policy amid inflation concerns
wionews.com/business-economy/turkeys-new-central-bank-chief-vows-to-maintain-tight-monetary-policy-amid-inflation-concerns-687074
More than half a million people left New York in 2022. Here's where they resettled.
usatoday.com/story/news/nation/2023/11/29/new-yorkers-moving-census-bureau-inflation/71730570007/
US retailers brace for a tough holiday season despite discounts: U.S. retailers across apparel, electronics and home improvement are bracing for a challenging ...
reuters.com/business/retail-consumer/us-retailers-brace-tough-holiday-season-despite-discounts-2023-11-21/
Car insurance is surging. Here’s why — and how you can save.: Philadelphia-area consumers say in the past year they've been quoted rates as much as 50% higher ...
inquirer.com/business/car-insurance-premiums-inflation-20240122.html
Real Time Economics: Rising Credit-Card Debt, Higher Prices and Falling Interest Rates
createsend.com/t/d-991067C02E9977542540EF23F30FEDED
Americans see elevated inflation as the new normal: That could make inflation more sticky — or require the Fed to undertake more painful interventions.
axios.com/2023/11/13/inflation-cpi-economic-data-2023-prices
Quick Glance: Surprising Drop in US Producer Prices in October
- Last month saw the largest decrease in the producer price index for final demand since April 2020 at 0.5%.
- The PPI increased by 1.3% in the 12 months through October, following a 2.2% rise in September.
- Goods prices experienced a 1.4% decline in October, with a 15.3% decrease in gasoline prices being responsible for over 80% of the drop.
- Food prices fell by 0.2%, while prices for light motor trucks decreased.
Morning Bid: Ebbing oil sustains economic glow: A look at the day ahead in U.S. and global markets from Mike Dolan
reuters.com/markets/us/global-markets-view-usa-2023-11-16/
Working mom shares financial struggles on TikTok: Mackenzie Moan said she and her husband both make "good money" and don't live above their means but still live ...
businessinsider.com/working-mom-two-kids-good-salary-shares-financial-struggles-tiktok-2023-11
Casey blames higher holiday food prices on corporate greed, not Biden's policies: The mashed potatoes on your Thanksgiving plate cost 60% more this year — almost ...
post-gazette.com/news/politics-state/2023/11/22/casey-biden-thanksgiving-food-inflation/stories/202311220132
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McDonald's $16 meal on TikTok is important to the 2024 presidential election: While inflation has come down, food prices are still soaring and souring Americans' ...
businessinsider.com/mcdonalds-tiktok-meal-food-prices-economy-inflation-presidential-election-bidenomics-2023-11
Kraft Heinz lifts annual profit target as price hikes boost margin: Kraft Heinz (KHC.O) beat Wall Street estimates for third-quarter profit and raised its annual ...
reuters.com/business/retail-consumer/kraft-heinz-misses-third-quarter-revenue-estimates-2023-11-01/
Editorial: Unemployment is at record lows. Why are people down on the economy?: It’s hard to deny that the economy of Western Pennsylvania, and of the United ...
post-gazette.com/opinion/editorials/2024/01/05/unemployment-labor-force-housing-market-economy/stories/202401050051
Fed’s rate strategy stymied by stubborn housing cost inflation: The Federal Reserve is facing questions about its ability to tame one of the largest drivers of ...
thehill.com/business/4290453-feds-rate-strategy-stymied-by-stubborn-housing-cost-inflation/
Rishi Sunak speech: PM pledges billions for northern transport as he axes HS2 line - BBC News
bbc.co.uk/news/live/uk-politics-67001483
Quick Glance: Mistake: Rishi Sunak to Amputate High-Speed Rail Line in Britain
- HS2 decision makes infrastructure construction more difficult
- HS2 will not extend beyond Birmingham to Manchester
- Wrong decision that doesn't make sense
- Deep-seated problems of HS2 require government solutions
A Gift Of Knowledge: Top 10 Economic Charts Of 2023 You'll Likely Want To Share During Your Holiday Gathe
benzinga.com/economics/macro-economic-events/23/12/36374699/a-gift-of-knowledge-top-10-economic-charts-of-2023-youll-likely-want-to-share-dur
Fed's Powell: Strong economy may still require rate increases - Reuters News: The U.S. economy's strength and continued tight labor markets could warrant further ...
reuters.com/markets/us/view-feds-powell-strong-economy-may-still-require-rate-increases-reuters-news-2023-10-19/
Quick Glance: Fed Chair Powell: Bond Market Restraining Strong US Economy
- Powell agrees that rising yields tighten financial conditions and may reduce the need for further rate increases.
- Interest rates on Treasury bonds rose during Powell's remarks.
- Powell and colleagues consider the market-driven tightening of credit as a possibility.
- Labor market cooling and decreasing inflation are observed.
S&P 500: Positive Run Into 2024: We expect GDP growth for the U.S. in 2024 to be between 1.7% and 2.12%, with interest rates ranging from 4.39% to 4.6% ...
seekingalpha.com/article/4658916-s-and-p-500-positive-run-into-2024
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Looking for last-minute gifts? Shop at Philly small businesses. Our city will thank you for it.
inquirer.com/opinion/commentary/holiday-shopping-support-philadelphia-small-businesses-20231220.html
S&P 500 ends near flat; utilities drop, focus on rate outlook: The S&P 500 ended nearly flat on Monday with utilities falling sharply and investors weighing the ...
reuters.com/markets/us/futures-rise-us-congress-averts-govt-shutdown-2023-10-02/
Fed chief Powell has warned of economic pain. In York, Pa., he heard all about it
reuters.com/markets/us/fed-chief-powell-has-warned-economic-pain-york-pa-he-heard-all-about-it-2023-10-02/
Editorial: Hiking prices ‘just because’ turns out to be bad for business: Consumer products and packaged food companies are scratching their heads for reasons ...
orlandosentinel.com/2023/10/25/editorial-hiking-prices-just-because-turns-out-to-be-bad-for-business/
Morning Bid: Bond crush stifles markets as $134 billion hits: A look at the day ahead in U.S. and global markets by Mike Dolan
reuters.com/markets/us/global-markets-view-usa-2023-09-26/
Quick Glance: US job market defies rising interest rates and high unemployment
- Last year's inflation spike was painful, but the job market remained resilient.
- Economists predicted dire consequences from rate hikes, but the economy has shown unexpected durability.
- How is the Fed managing to combat inflation without causing negative effects?
- Can the job market stay strong despite the Fed's intention to keep rates high?
Biden touts job creation, takes aim at Trump's record in Labor Day speech: "Bidenomics is a blue collar blueprint for America," the president said.
abcnews.go.com/Politics/biden-touts-job-creation-takes-aim-trumps-record/story
Quick Glance: Biden criticizes Trump on jobs in battleground Pennsylvania
- Biden highlights past job losses
- U.S. unemployment decreased under Trump's presidency
- Trump spokesperson accuses Biden of destroying jobs and fueling inflation
- Economic issues play a key role in the 2024 presidential race
Zito: Americans not buying ‘economy is OK’ message: Interviews with a number of voters across the political and economic spectrum find them frustrated by the ...
bostonherald.com/2023/10/07/zito-americans-not-buying-economy-is-ok-message/
Brace yourself for lower raises next year: It's more evidence that a wage-price spiral hasn't come to pass.
axios.com/2023/10/12/raises-decreasing-2024-employees-wage-income
Federal Reserve unveils Instagram, Threads accounts: The Federal Reserve can now be followed on Instagram and Threads. In a news release ...
thehill.com/homenews/media/4235662-federal-reserve-unveils-instagram-threads-accounts/
Morning Bid: Fed leaves shoe dangling in policy parade: A look at the day ahead in U.S. and global markets by Mike Dolan
reuters.com/markets/us/global-markets-view-usa-2023-09-21/
Quick Glance: US Federal Reserve Maintains Steady Interest Rates - Temporarily
- In March 2022, the bank already raised interest rates from near zero to cool the economy and control price inflation.
- They also anticipate higher interest rates next year compared to previous forecasts.
- The US announcement precedes the Bank of England's meeting on Thursday, as it tackles its own inflation challenges.
- The widely expected rate increase by the Bank has not been announced.
Texas Solar Projects Qualify for Key Biden Tax Credits in Industry First: Incentives in the Inflation Reduction Act are bolstering solar component manufacturing ...
bloomberg.com/news/articles/2023-11-30/texas-solar-projects-qualify-for-key-biden-tax-credits-in-industry-first
Biden takes shot at Trump on jobs in battleground Pennsylvania: U.S. President Joe Biden on Monday took shots at his likely 2024 rival, Donald Trump ...
reuters.com/world/us/biden-takes-economic-pitch-battleground-pennsylvania-us-labor-day-2023-09-04/
WSJ News Exclusive | Why One Fed Official Is Ready to Stop Raising Rates: Philadelphia Fed President Patrick Harker said he thinks the central bank can likely ...
wsj.com/economy/central-banking/why-one-fed-official-is-ready-to-stop-raising-rates-73330eeb
Medical inflation in India reaches alarming rate of 14%, reveals report | Mint: Healthcare costs in India are rising rapidly, and many employees are unable to ...
livemint.com/money/personal-finance/medical-inflation-in-india-reaches-alarming-rate-of-14-reveals-report-11700634947658.html
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Watch: Escaped Pennsylvania Inmate Danelo Cavalcante Is Captured : Authorities captured Pennsylvania inmate Danelo Cavalcante two weeks after the convicted ...
wsj.com/video/watch-escaped-pennsylvania-inmate-danelo-cavalcante-is-captured/DE9B3FEA-CA79-4B16-BEF2-160D138CF181.html
US Fed official says rate cut unlikely in 'short term': The US Federal Reserve is likely done raising interest rates to tackle inflation but probably ...
thejakartapost.com/business/2023/11/09/us-fed-official-says-rate-cut-unlikely-in-short-term.html
Candidate Biden Looks to Turn the Economy Into an Asset: The president has taken the economy – once a political vulnerability for him – and tried to make it an ...
usnews.com/news/national-news/articles/2023-09-01/candidate-biden-looks-to-turn-the-economy-into-an-asset
Rising US gas prices are both good news and bad: Ignore the glowing signs at U.S. gas stations, and the country's inflation fight is going well ...
reuters.com/breakingviews/rising-us-gas-prices-are-both-good-news-bad-2023-09-13/
‘Give ‘em, hell, Joe!’ How Harry Truman showed Biden a way to win in 2024: High inflation, a Moscow dictator, an exhausted electorate — Harry Truman somehow won ...
inquirer.com/opinion/commentary/what-harry-truman-could-teach-biden-20231112.html
Fed meeting preview: Jerome Powell, policymakers signal what's next: Central bankers have shared mixed views on how monetary policy could change as officials ...
businessinsider.com/recession-outlook-jerome-powell-fed-policymakers-central-bank-investors-rates-2023-10
Gas prices stable this week but could increase again as Labor Day 2023 approaches
pennlive.com/life/2023/08/gas-prices-stable-this-week-but-could-increase-again-as-labor-day-2023-approaches.html
US Fed likely to pause again with rates at 22-year high: Interest rate hikes slow down inflation by raising the cost of borrowing from the bank ...
thejakartapost.com/business/2023/10/30/us-fed-likely-to-pause-again-with-rates-at-22-year-high.html
Flying home for Thanksgiving? You’ll find cheaper fares to and from Philly this year
inquirer.com/business/cheap-thanksgiving-travel-philadelphia-airport-20231103.html
'Sticky' inflation is a good sign for the health of the economy: Retail sales in September were higher than expected. While not good for slowing the economy ...
businessinsider.com/sticky-inflation-economy-recession-soft-landing-2023-10
Fed's Harker : If inflation retreat stalls more rate hikes may be needed, Bloomberg reports
reuters.com/markets/us/feds-collins-may-be-place-where-fed-can-hold-steady-yahoo-finance-2023-08-24/
Quick Glance: Powell: Economy's Strength May Require More Interest Rate Increases
- Economic growth may require more interest rate increases, says Powell
- Higher loan rates make it harder to afford homes and cars
- Fed believes its key rate is high enough to restrain growth
- Even without further rate hikes, the Fed may keep its benchmark rate elevated to contain inflation
Federal Reserve minutes: Too-high inflation, still a threat, could require more rate hikes
thehill.com/business/ap-federal-reserve-minutes-too-high-inflation-still-a-threat-could-require-more-rate-hikes/
Quick Glance: Fed divided on need for more rate hikes
- Federal Reserve officials were divided on the need for more interest rate hikes at the July 25-26 meeting.
- Some participants cited the risks to the economy of pushing rates too far.
- However, most policymakers continued to prioritize the battle against inflation.
- The minutes of the session were released on Wednesday.
Chocolate makers' prospects sour as cocoa prices spike: Chocolate makers like Hershey (HSY.N) and Mondelez (MDLZ.O) face tougher trading conditions over the next ...
reuters.com/business/retail-consumer/chocolate-makers-prospects-sour-cocoa-prices-spike-2023-08-18/
‘Remember to shop around’: Owning a car gets more expensive as interest rates soar
thehill.com/business/4143615-remember-to-shop-around-owning-a-car-gets-more-expensive-as-interest-rates-soar/
An inflation gauge closely tracked by the Fed falls to lowest level in 2 years: A measure of consumer prices that is closely monitored by the Federal Reserve ...
pbs.org/newshour/economy/an-inflation-gauge-closely-tracked-by-the-fed-falls-to-lowest-level-in-2-years
Quick Glance: Inflation Gauge Reaches Lowest Level in Over 2 Years
- Prices increased by just 3% in June compared to the previous year, below the Fed's 2% inflation target.
- On a monthly basis, prices rose by 0.2% from May to June, slightly higher than the previous month.
- Smaller wage increases are expected to slow down inflation over time.
- Despite a decrease in overall inflation, core inflation remains high.
Australia News Today: RBA Inflation Warning, Alcoa Cuts, Wine Optimism: Good morning, it’s Amy in Melbourne. We’re expecting employment data this morning ...
bloomberg.com/news/newsletters/2023-10-18/australia-news-today-rba-inflation-warning-alcoa-cuts-wine-optimism
Shares whipsaw as Fed weighs inflation risks, yields steady: World stocks whipsawed on Friday after investors hoping for more dovish remarks from Fed Chair ...
reuters.com/markets/global-markets-wrapup-1-2023-08-25/
Kraft Heinz sales miss estimates as higher prices hit demand: Kraft Heinz (KHC.O) missed quarterly sales estimates on Wednesday as inflation-hit customers bought ...
reuters.com/business/retail-consumer/kraft-heinz-misses-quarterly-sales-estimates-2023-08-02/
USA: Bidenomics is a risky campaign bet: Joe Biden is putting the economy at the center of his campaign. His numbers are good. The problem: the U.S ...
wiwo.de/politik/ausland/us-wahlkampf-die-bidenomics-sind-eine-riskante-wette/29446758.html
Fed may be at point to 'hold rates steady,' Harker says: Barring any abrupt change in the direction of recent economic data, the U.S. Federal Reserve may be at ...
reuters.com/markets/rates-bonds/feds-harker-may-be-point-hold-rates-steady-2023-08-08/
We secretly shopped local auto repair shops to see who overcharged for routine maintenance
inquirer.com/consumer/auto-repair-shop-philadephia-over-charge-maintenance-20230830.html
Morning Bid: Germany to kick off CPI mega-run: A look at the day ahead in European and global markets from Brigid Riley
reuters.com/markets/europe/global-markets-view-europe-2023-08-08/
Here’s how much Philly-area buyers are paying per square foot for a new home: Local home buyers are spending almost 50% more per square foot for a new home than ...
inquirer.com/real-estate/housing/home-price-philadelphia-square-foot-cost-real-estate-market-20230925.html
Dauphin County brewery announces closing as ‘inflation/labor crisis catches up’: Tattered Flag Brewery & Still Work's owners cited the pandemic coupled ...
pennlive.com/food/2023/07/dauphin-county-brewery-announces-closing-as-inflationlabor-crisis-catches-up.html
Morning Bid: Markets brace for BOE as China PMI cheers: A look at the day ahead in European and global markets from Brigid Riley
reuters.com/markets/global-markets-view-europe-2023-08-03/
A Bright Spot in Commercial Real Estate: Retail Shops: New store openings remain strong, overcoming inflation and interest-rate challenges.
wsj.com/real-estate/commercial/a-bright-spot-in-commercial-real-estate-retail-shops-a3ef009e
John Lewis boss Dame Sharon White warns hiking interest rates again would be a 'mistake'
itv.com/news/2023-09-14/john-lewis-boss-warns-hiking-interest-rates-again-would-be-a-mistake
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