U.S. households are now spending the equivalent of $5,000 a year on gasoline, up from $2,800 a year ago, according to Yardeni Research. In March, the annual rate of gasoline spending was at $3,800, Yardeni…
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Report: Federal reserve Raises Interest Rates
The Federal Reserve said on Wednesday that it would raise interest rates by a half point for the first time in two decades as policymakers ramp up their fight to cool red-hot inflation, a move that threatens to…
Vladimir Putin via Wikimedia Commons
Putin Issues Decree to Hit ‘Unfriendly’ Nations with…
Russian President Vladimir Putin issued a retaliatory decree Tuesday to hit "unfriendly" states with export blocks in a move that could further hinder the global market. The move would look to terminate existing deals and restrict the export…
Gage Skidmore from Surprise, AZ, United States of America via Wikimedia Commons
The Real Cost of Biden’s Student Loan Forgiveness…
President Biden this week revived the possibility of wiping out millions of Americans' student loan debt with the stroke of a pen, a policy that could cost the federal government $321 billion. Although Biden has so far canceled…
Decline in Trucker Demand Could Foreshadow Recession
A sharp, unexpected downturn in trucking demand since the beginning of March could be evidence of a looming economic recession, according to Bank of America strategists. A Tuesday analyst note from Ken Hoexter, the managing…
Goldman Sachs Predicts When Recessions Will Hit U.S.
The Federal Reserve may inadvertently trigger an economic recession next year as it moves to tame the hottest inflation in four decades, according to Goldman Sachs economists. The economists, led by Jan Hatzius, said in an analyst note…
Heresy Financial: Retail Sales Showing Signs of Cracking
When inflation kicks into gear, people will spend more money. This is a logical response to get more of the things you will need in the future before prices go up. Said another way, people…
Heresy Financial: Are Real Interest Rates Actually Negative?
Everyone is talking about how interest rates are negative right now. Certainly, rates at the shortest end of the curve will end up being a negative real return on maturity. However, bondholders are counting on…
Report: Wages Dip 3% Due to Inflation
Amid inflation that is spiraling out of control, real wages for Americans have dropped by nearly 3%. “Inflation ran 8.5% in the year ending last month, while nominal wages grew only 5.6%, a decline in…