Search Results for: "tom price"
Small Businesses Are Raising Prices to Keep Up With Historic Inflation
February 8, 2022
The National Federation of Independent Businesses reported that most U.S. small businesses raised prices in January as they struggled to keep up with inflation. Nearly a quarter of respondents said that inflation was their “single most important business problem,” the highest level since 1981. Bloomberg: A net 61% of owners…
Polls Show Americans Are Concerned for their Financial Security
June 30, 2022
Americans’ financial standing is at risk, as economic policy under the Biden Administration has given way to runaway inflation and plummeting economic confidence. AP: Eighty-five percent of U.S. adults say the country is on the wrong track, and 79% describe the economy as poor, according to a new survey from…
Recovery ‘Slowing’ as Companies Add Fewer Jobs Than Expected
May 4, 2022
Private U.S. businesses added just 247,000 jobs in April — 143,000 fewer than expected. Small businesses were the “primary culprit”, losing 120,000 workers month-over-month. CNBC: Private payrolls increased by just 247,000 for the month, well below the 390,000 Dow Jones estimate. That was a big decline from March, which saw…
Inflation, Accelerating, Hits Four-Decade High
March 10, 2022
Inflation rose .8% month-over-month in February, an even faster increase than January, to reach a 7.9% year-over-year rate. Wall Street Journal: The CPI measures what consumers pay for goods and services, including groceries, clothes, restaurant meals, recreation and vehicles. Month to month, CPI rose a seasonally adjusted 0.8% in February.…
Key Inflation Gauge Surges to 40-Year High at 5.8%
January 28, 2022
The Commerce Department’s Personal Consumption Expenditures index – the Federal Reserve’s preferred measure of inflation — surged 5.8 percent year over year, the fastest rate in 40 years. Additionally, consumer spending decreased, another indicator that the economic recovery may be faltering. Associated Press: A measure of prices that is closely…
U.S. Inflation Hits Highest Level Since 1982
January 12, 2022
Inflation climbed 7 percent over the last year, reaching its highest level in 40 years, according to new numbers from the U.S. Bureau of Labor Statistics. Wall Street Journal: “The Labor Department said the consumer-price index—which measures what consumers pay for goods and services—rose 7% in December from the same…
Democrats’ ‘Build Back Better’ Agenda Projected to Hurt Economic Growth and Increase National Debt
December 15, 2021
Joe Biden and the Democrats’ Build Back Better Act will decrease GDP by 0.2% while increasing our national debt by 1.5% by 2050, according to a new study from the Penn Wharton Budget Model. If you remove the budget gimmicks Democrats inserted into the bill to lower its price tag,…
Nearly Half of American Families Reported ‘Financial Hardship’ Due to Rising Inflation
December 2, 2021
Forty-five percent of American households said they’ve experienced “financial hardship” due to recent price increases, according to new polling from Gallup. Ten percent of the total people polled described the hardship as “severe,” saying it’s affected their ability to maintain their current standard of living. Gallup: “As Americans sail into…
‘Transitory’ Inflation Expected to Last for A While
November 4, 2021
The Biden-Harris administration has said for months that inflation would be a “transitory” issue, but as the cost of everyday goods and services continues to surge, economists are saying inflation may be around much longer than anticipated. CBS: “‘Our sense is that the inflation and price increases will get worse…
U.S. Economy Moving at Sluggish Pace as Inflation, Supply Chain Woes, Labor Shortages Plague Growth
October 28, 2021
The U.S. economy grew at its slowest pace of the pandemic recovery era in the third quarter of 2021, coming in at a 2% annualized rate. Economists surveyed expected the growth to register at a 2.8% annualized rate. The number was the worst since COVID-19 grew into a global pandemic…