Economy

Democrats turn a blind eye to inflationary impact of Biden's big spending bills

Democrats turn a blind eye to inflationary impact of Biden’s big spending bills

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Sen. Roger Marshall, R-Kan., Discusses Biden’s Remarks on Roe v. Wade, the Democrats’ agenda, the planned vote for Senate leadership, and vaccine-related myocarditis. House Democrats have voted down a resolution demanding a Treasury Department assessment of whether President Biden’s biggest spending bills over the past two years are contributing to inflation. The GOP resolution requires …

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The world's lack of babies is so severe that labor shortages will last for years, major employment agencies predict

The world’s lack of babies is so severe that labor shortages will last for years, major employment agencies predict

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“Demographic changes” can mean many things. The composition of a group of people (median age, ethnic composition, etc.) all fall into this category. But in the context of labor shortages that have gripped the global economy since the start of the pandemic, it coincided with one of Elon Musk’s great worries: the world has no …

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'This situation is unprecedented': 10 crazy things detailed in FTX's bankruptcy filing

‘This situation is unprecedented’: 10 crazy things detailed in FTX’s bankruptcy filing

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On Thursday, John Ray, III, the new CEO of FTX, filed a long-awaited statement in US bankruptcy court, giving a sober assessment of the collapse of Sam Bankman-Fried’s crypto empire. The bankruptcy court filing followed a whirlwind of events, including the publication of explosive texts that Bankman-Fried sent to a Vox reporter earlier this week. …

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Fed's Bullard says rate hikes have had 'limited effects' on inflation so far

Fed’s Bullard says rate hikes have had ‘limited effects’ on inflation so far

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St. Louis Federal Reserve Chairman James Bullard said Thursday that the central bank still has a lot of work to do before bringing inflation under control. A voting member of the Federal Open Market Committee responsible for setting rates, Bullard delivered remarks centered on a rules-based approach to policy-making. Using standards set by Stanford economics …

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First TVs, now tortillas: US companies set minimum prices to end discounts

First TVs, now tortillas: US companies set minimum prices to end discounts

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NEW YORK, Nov 17 (Reuters) – Makers of everything from toys to tortillas are increasingly setting minimum prices on their products to maintain profits and limit price cuts as retailers like Walmart Inc (WMT. N) and Amazon.com Inc (AMZN.O) are trying to corner online sales. As a result, shoppers are enjoying fewer discounts on everyday …

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Getting out of our dependence on growth is the way out of the climate crisis. Here’s how | Larry Elliot

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For three centuries there has been a consensus on the objective of economic policy. Since the dawn of the industrial age in the 18th century, the goal has been to achieve as rapid growth as possible. It is not difficult to see why there has been this concentration. Growth has raised living standards, increased life …

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UK finance minister announces tax hikes and spending cuts, says country is in recession

UK finance minister announces tax hikes and spending cuts, says country is in recession

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Finance Minister Jeremy Hunt, in his much-awaited inaugural autumn statement, unveiled a sweeping £55bn ($66bn) fiscal plan. Anadolu Agency | Anadolu Agency | Getty Images LONDON — The British government unveiled a sweeping £55 billion ($66 billion) budget plan on Thursday as it seeks to plug a gaping hole in public finances and restore Britain’s …

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Why everything in tech seems to be collapsing all of a sudden

Why everything in tech seems to be collapsing all of a sudden

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This is Work in Progress, a newsletter from Derek Thompson about work, technology and how to solve some of America’s biggest problems. Sign up here to get it every week. The tech industry seems to be in a recession. Although overall unemployment is still very low, nearly all major tech companies, including Amazon, Meta, Snap, …

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