September's inflation numbers were tied for the record since 2008, and were above consensus expectations yet again. With inflation being so severe and persistent, the messaging about inflation is about to change. First, it was…
Grocery Prices Expected to Spike
Grocery prices are headed higher later this year, according the U.S.’s largest supermarket by sales. Cincinnati-based Kroger Co., which had $132 billion in sales last year, says inflation is running hotter than management previously anticipated and that…
This State Plans to Pay Big If You…
As worker shortages drag on across the U.S., Vermont is trying to fill its employers' open positions by offering up to $7,500 to folks willing to take a job and move to the state. In order to take advantage of…
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Wells Fargo Scandal Restitution in Hot Water
Five years into scandals that have already cost Wells Fargo & Co. more than $5 billion in fines and legal settlements, regulators are privately signaling they’re still not satisfied with the bank’s progress in compensating victims and…
DOW Sinks Over Shockingly Low Retail Sales
Shoppers in the U.S. cut back their purchases in July even more than expected as worries over the delta variant of Covid-19 dampened activity and government stimulus dried up. Retail sales for the month fell…
Consumer Prices Rise 5.4% Annually in July
The Labor Department said that consumer prices rose 5.4%, matching the prior month's gain as the fastest since August 2008. Prices that Americans pay for everyday goods and services accelerated in July as pent-up demand…
U.S. GDP Falls Short of Expectations
The U.S. economy grew less than expected in the three months through June as supply-chain disruptions and labor shortages slowed the pace of economic activity while the country reopened from its COVID-19 lockdowns. Gross domestic product – the…
Report: Blue States Drive Recent Jobless Spike
The number of new jobless claims reported last week shocked economists and it turns out the trend was pushed by blue states. A Department of Labor report showed that “in the week ending June 12, the advance…
States Begin Offering Return-to-Work Bonuses
A few states have said they will offer citizens a one-time bonus upon accepting a new job to help stimulate economic growth. As the country continues to bounce back from the Coronavirus pandemic which ravaged…