The shortage could disrupt supply chains National Economic Council Director Brian Deese described the 25 days of diesel supply as “unacceptably low.“ The advisor to President Biden stated that…
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Thanksgiving Turkeys to Cost More This Year
Supply is also expected to be low. Between avian flu, inflation, and supply chain challenges, Thanksgiving turkeys will be both hard to find and more expensive than ever. When…
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Federal Reserve Says Business Outlook is Pessimistic
“Beige Book” reflects some easing of inflation. On Wednesday, the Federal Reserve reported that economic activity expanded modestly in recent weeks although it remains flat in some regions…
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IRS to Increase Standard Deductions for 2023
They are responding to pressures of inflation. The Internal Revenue Service announced Tuesday that it is raising the income threshold for all tax brackets and will also increase…
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President Calls for Increased U.S. Oil Production
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…
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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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President Plans More Strategic Oil Reserve Releases
Will give out 10 to 15 million barrels between now and midterms. Earlier this week, President Biden suggested he would announce new actions to address rising gas prices,…
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USDA Seeks Public Comment Regarding Discrimination
Lending programs are the focus of desired feedback. The U.S. Department of Agriculture (USDA) opened up public comment last week, requesting input on how to best assist farmers…
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President Signs Executive Order to Lower Drug Costs
The order complements actions taken under the Inflation Reduction Act. On Friday, President Biden signed an executive order directing the Department of Health and Human Services to consider…
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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…
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