White House plans to restock emergency reserves. On Wednesday, President Biden announced a plan he claims will produce a “profit for taxpayers” and it includes increased production from…
Read MoreEconomy
Average 401(k) Down $34,000 This Year
Americans have experienced more than $2 trillion in losses. New economic research has found that the average person’s 401(k) has lost some $34,000 in value since the beginning…
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Secretary Yellen Meets with European Finance Ministers
Discussions include projections for European economic outlook. Secretary of the Treasury Janet Yellen met with Eurogroup members last week to discuss the United States’ perspective on current European…
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Social Security Benefits Up 8.7% in 2023
The highest increase in four decades is in response to inflation. Social Security checks will be 8.7% higher beginning in January, the largest cost of living adjustment benefits…
Read MoreInflation Higher Than Expected in September
President acknowledges the possibility of a “slight” recession. The Bureau of Labor Statistics released a report on Wednesday showing that inflation, as measured by producer wholesale prices, was…
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Postal Service Raises Forever Stamp Prices
Three cent increase to account for inflation. The U.S. Postal Service (USPS) recently filed a notice that proposed raising the price of first-class Forever mail stamps from 60…
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Unrelated Policies in Defense Authorization Bill
High credit card fees are one example. Unrelated amendments by members of Congress have been added to the must-pass Defense Authorization Act that sets spending and policy priorities…
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Job Openings Decreased in August
Federal Reserve’s actions to slow the economy begin taking hold. The Bureau of Labor Statistics reported that job openings in August decreased to 10.1 million, down from 11.239…
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Bipartisan Senators Propose China Grand Strategy
Commission would address economic and military challenges from China. Senators John Cornyn of Texas and Tim Kaine of Virginia announced plans to create a 2-year commission to develop…
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August Inflation Higher Than Expected
Food prices rising faster than other items. The Bureau of Economic Analysis released data on inflation for August which showed the personal consumption expenditure (PCE), excluding food and…
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