Inflation expectations are also diminishing. On Thursday, AAA posted the national average price of a gallon of regular gas at $3.990, dropping under $4 for the first time…
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Senator Wyden Proposes Oil Company Tax Hike
Tax would be on “excess profits.” Senator Ron Wyden of Oregon is introducing the Taxing Big Oil Profits Act, which he says will accentuate the tax burden of…
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Inflation Eased Slightly in July
The costs of energy and gasoline declined. The Labor Department issued its Consumer Price Index measure for July on Wednesday that showed the pace of price increases slowing…
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U.S. Experiences Decline in Worker Productivity
The annual rate shows the largest drop on record. The Labor Department reported Tuesday that U.S. worker productivity fell sharply in the second quarter. On an annualized basis,…
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Unemployment Claims Increase as Layoffs Rise
The number has reached the highest since November of last year. On Thursday, the Labor Department released its weekly report on the job market. For the week ending…
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Treasury Finds Gas Prices Improved with SPR Releases
Officials estimate fuel releases kept prices 20 to 40 cents lower. The Department of the Treasury released calculations this past week that estimate tapping into the Strategic Petroleum…
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Fed Raises Rates 0.75 Percent Again
Credit tightens as the economy begins to slow. On Wednesday, the Federal Reserve raised its benchmark interest rate by three-quarters of a point for the second straight time…
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Administration Seeks to Redefine Recession
Senator Wicker says that changing the definition doesn’t change the pain. On Thursday, the U.S. Department of Commerce will release its second-quarter gross domestic product (GDP) reading, a…
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Federal Reserve Target of Chinese Spy Program
Senator Portman warns of economic espionage. Senator Rob Portman of Ohio released a minority staff report for the Homeland Security and Government Affairs Committee that details how the…
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Secretary Raimondo Appoints Business in Africa Council
24 members to serve a two-year term as advisors. Last week, the Department of Commerce announced that Secretary Gina Raimondo has appointed 24 members to the President’s Advisory…
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