US economy in recovery mode

Published

2 years ago

August 12, 2022

There are clear signs that inflation is easing across the country but the Federal Reserve says it will continue to raise interest rates until it hits a target of 2%

Is inflation in the US slowing down?

The lastest reports released by the US government showed that consumer prices did not rise icompared to the previous month.

But the inflation rate is still a lot higher than the Fed’s goal.

Minneapolis Federal Reserve Bank President Neel Kashkari, said that the consumer price index report was “welcome” news, but the Fed is “far, far away from declaring victory” on inflation.

Kashkari also said that he hasn’t found a reason for the Fed to increase its policy rate to 3.9% by the end of the year and to 4.4% by the end of 2023.

The rate is currently in the 2.25% to 2.5% range.

The dollar also fell broadly following the U.S. inflation report for July.

And despite Kashkari’s statement, many are still wondering whether the latest figures will be enough to stop the Federal Reserve from an aggressive interest rate hike.

These developments were welcomed by consumers,

In particular good news came as the average price of US retail gasoline fell below $4 dollars per gallon for the first time in months.

According to Reuters, many economists believe, less policy tightening would be enough to bring prices under better control.

Nonetheless, there are clear signs the economy is improving and this has provided relief for the wider public.

20 killed, over 450 injured after hand-held radio detonation

Published

2 hours ago

September 19, 2024

ticker NEWS

Devastating blasts in Lebanon have left 20 dead and 450 injured after hand-held radios used by Hezbollah detonated.

The blasts follow a similar explosion on Tuesday, which killed 12, including two children, and injured nearly 3,000.

Hezbollah, momentarily thrown into chaos, struck back at Israeli artillery positions with rockets, marking the first retaliation since the deadly blasts.

Israeli intelligence is suspected of planting explosives in the radios and pagers Hezbollah purchased five months ago.

Israel’s military has refused to comment, fuelling further tension. #featured #trending

Leaders

Politics in the workplace: Musk backs Trump, while his workers donate to Harris

Published

7 hours ago

September 19, 2024

ticker NEWS

Workers associated with Elon Musk’s companies, including Tesla & SpaceX have reportedly made substantial donations to Kamala Harris’ campaign, despite Musk publicly supporting Donald Trump.

Employees from Elon Musk’s companies have thrown their financial support behind Vice President Kamala Harris, despite Musk publicly backing Donald Trump.

This comes as Musk, one of the world’s wealthiest men, has voiced his support for Trump in the 2024 presidential race.

Even with their boss firmly on Trump’s side, employees from his companies are backing Democrats in the upcoming election. #featured #trending

News

Tight race between Donald Trump and Kamala Harris in Georgia

Published

7 hours ago

September 19, 2024

ticker NEWS

A new poll shows a tight race between Donald Trump and Kamala Harris in Georgia, with Trump leading Harris by a slim margin.

According to a new poll, former President Trump and Vice President Kamala Harris are neck-and-neck in one of the most important battleground states of the 2024 presidential election.

The Atlanta Journal-Constitution just released the results of its most recent voter survey, which framed the election as a dead heat race with significant margins for fluctuation.

The poll shows approximately 46.9% of voters currently say they would vote for Trump, compared to 44.4% of voters who say they would cast their vote for Harris.

Madeline Summerville, the CEO of Georgia Trial Consulting joins Veronica Dudo to discuss.

#IN AMERICA TODAY #trending #2024election #Georgia #electionpolls