Ex-Fed chair says US economy is heading towards stagflation for the first time since the 1970s

The former head of the Federal Reserve says the US is heading towards a period of high inflation and low economic growth as the head of Goldman Sachs and other global banks warn that a recession is coming. Ben Bernake, who led the Fed through the 2008 financial crisis, says ‘stagflation’ may be on the … Read more

Jeff Bezos SLAMS Biden again, saying further Covid stimulus money would’ve made inflation even worse

Amazon founder Jeff Bezos once again went after President Joe Biden for the White House’s policies regarding inflation – and took credit for deficit reduction in a tweet on Sunday. Bezos, retweeting an account that goes by the name @ ne0liberalargued that the inflation crisis could have been made worse if not for West Virginia … Read more

Sharp Rise in Home Prices, Mortgage Rates Driving Working Americans out of the Market

The dramatic rise in home prices and mortgage rates in the early months of 2022 has had a relatively limited effect on wealthy buyers and sellers, but has had a severe impact on lower-income Americans — and the Democratic Party may pay a steep price for their frustrations in the November midterm elections and beyond, … Read more

4 reasons the economy looks like it’s crumbling – and what to do about it

New York CNN Business – The American economy is super weird right now. Pretty much anyone who wants a job can have one. The economy is so hot that prices are surging faster than at any point since the 1980s. The housing market is on fire. Consumers are spending like crazy. Yet we keep hearing … Read more

Jeff Bezos calls on Biden’s new disinformation board to review his tweet about inflation

Amazon founder Jeff Bezos asked the Biden Administration’s new Disinformation Board to review the president’s tweet claiming that growing inflation could be tamed by raising corporate taxes. Joe Biden, who has faced criticism over the 40-year high rates which hit 8.3 percent, tweeted on Friday that taxing corporations more would help ease the economic strain … Read more

Senate confirms Powell for 2nd term as Fed fights inflation

WASHINGTON (AP) – The Senate on Thursday confirmed Jerome Powell for a second four-year term as Federal Reserve chair, giving bipartisan backing to Powell’s high-stakes efforts to curb the highest inflation in four decades. The 80-19 vote reflected broad support in Congress for the Fed’s drive to combat surging prices through a series of sharp … Read more

5 things to know for May 12: Ukraine, Abortion, Inflation, Overdoses, California fire

CNN – Air travel in the US is back in full swing, but the return to the skies hasn’t been entirely smooth. Passengers are frustrated by packed flights, as well as an increase in disruptive passenger incidents, flight cancellations and soaring air fares, according to a new survey. Here’s what you need to know to … Read more

Recession Fears Loom Large Over Bullish Oil Market

The price of gasoline in the US hit an all-time high on Tuesday as the national average spiked $ 0.17 / gallon from last week to $ 4.37 / gallontopping the previous all-time high set March 8. The European Union’s discussion of pulling back from buying Russian oil has sent additional shock waves through an … Read more

EXPLAINER: Recession fears grow. But how high is the risk?

WASHINGTON (AP) – Inflation is at a 40-year high. Stock prices are sinking. The Federal Reserve is making borrowing much costlier. And the economy actually shrank in the first three months of this year. Is the United States at risk of enduring another recession, just two years after emerging from the last one? For now, … Read more

Why the UK economy is one of the most vulnerable right now

George Clerk | E + | | Getty Images There’s an economic idiosyncrasy in the UK that makes it “one of the most vulnerable countries in the world right now,” according to an investment strategist. Mike Harris, the founder of Cribstone Strategic Macro, argues that a major problem for Britain is that its mortgage market … Read more