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…
Read MoreInflation
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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Household Debt Tops $16 Trillion for First Time
Credit card balances grow to their highest level in 20 years. The New York Federal Reserve reported that household debt climbed past $16 trillion in the second quarter…
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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…
Read MoreFed 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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House Votes to Sell Reserve Oil to China
Strategic Petroleum Reserve is at its lowest since 1985. While average gas prices at the pump have decreased from their $5 peak, gasoline is still significantly more expensive…
Read MoreMiddle-Class Families Falling Behind Financially
Inflation continues to rise. A new Primerica poll shows that three out of four middle-class households report falling behind as the cost of living continues its increase. The…
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