White House officials have argued repeatedly in recent months that Donald Trump’s economic plans would make inflation worse, not better. As Axios reported, President Joe Biden’s team is now getting some backup from a highly credible group of economists. This comes on the heels of a recent New York Times report that noted that “several” […]
(Bloomberg) — Australia’s central bank is likely to keep interest rates elevated for longer, economists said, despite Tuesday’s budget forecasting inflation to fall back within the 2-3% target by year’s end, a result that would normally open the door to earlier easing. Most Read from Bloomberg The center-left Labor government’s energy rebates and rent assistance […]
Wall Street is generally convinced the economic health of the U.S. consumer is remarkably better than expected after COVID, but one analyst has pointed out there’s a gaping hole in the picture. He calls it “phantom debt”—spending on “buy now, pay later” (BNPL) platforms, which often goes unrecorded by credit agencies. Big bank CEOs have […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. Americans saved quite a bit of money during the pandemic: $2.1 trillion worth, to be exact. That […]
May 6—ELLENSBURG — Washington’s economy, its job market and unemployment were topics of discussion at the annual Economic Outlook Conference on Monday at Central Washington University. Dave Reich, executive director of the Washington State Economic and Revenue Forecast Council, said the state is still dealing with the aftereffects of 2020. “I would say, economically, COVID […]
Osaka Wayne Studios/Getty Images The government’s soaring debt balance poses problems for the US economy. Those include higher inflation, greater market volatility, and a lower quality of life for Americans. Slowing the pace of borrowing is critical for the future, economists told Business Insider. The US is sitting on the biggest pile of public debt […]
Two high-profile economists recently stirred up controversy by recommending that the IRS eliminate tax-deferred contributions to 401(k) accounts. Sweeping changes are unlikely to happen anytime soon, and your nest egg isn’t in jeopardy of going away, so don’t panic about the headlines. Still, it’s important to understand the challenges and potential solutions that policymakers are […]
Economists just don’t get it. And by it we mean the American consumer’s miserable attitude, which continues to frustrate both President Biden’s reelection prospects and the field of professional forecasters who are praising the ongoing strength of the economy, regardless of what consumers may grumble under their breath. But that grumbling is loud. Despite historically […]
As inflation gathered force in 2021 and 2022, the Federal Reserve notoriously waited too long to raise interest rates, allowing consumer prices to continue to climb sharply, Fed officials now acknowledge. Now that inflation is easing, the Fed may be poised to make another blunder by moving too slowly to cut rates and triggering a […]
The federal government should stop subsidizing pre-tax contributions to retirement savings accounts, two economists from opposing ideological camps argued in a research brief in January. Allowing people to shelter their retirement money from taxes is a policy that largely favors the well-heeled, they said. Congress could use that money, nearly $200 billion a year in […]
(Bloomberg) — Economists gave top marks to a dark horse candidate in Indonesia’s presidential race, favoring former Jakarta governor Anies Baswedan to oversee Southeast Asia’s largest economy, according to a Bloomberg survey. Most Read from Bloomberg Baswedan, a prominent critic of President Joko Widodo got the highest score of 33 from the 17 economists and […]
While much of the American electorate debates Donald Trump’s culpability on 91 criminal charges, economists are enduring post-traumatic flashbacks stemming from the trade war Trump perpetuated when he was president — because Trump wants to go even further if he wins a second term. With the 2024 primary elections about to get underway, Trump’s policy […]