News and Trends
Americans say they need to have $500,000 in savings to feel financially secure, survey finds- CNBC--7.28.21
In order to feel financially secure, Americans say they would need $500,000 in savings, according to a new report. For many, the pandemic has been a financial wake up call that's prompted people to rethink how they plan for their futures.
Fed keeps ultra-low interest rates but says US economy made 'progress' toward its goals- Fox Business--7.28.21
The Fed said Wednesday that it would maintain ultra-low interest rates and reaffirmed its commitment to other easy monetary policies. Wall Street is expecting the Fed to provide more insight into the timing of tapering when central bankers gather in August at their annual retreat in Jackson Hole.
As inflation and government debt surge, Washington is ignoring our most critical economic crisis- The Hill--7.27.21
Economic crises of all sorts loom on the horizon. But the most important crisis we may currently be facing is historically low labor productivity growth. If productivity growth isn't raised, inflationary pressures will rise even more.
Shrinkflation is the fad diet no one needs- CNN Business--7.26.21
Consumers will be spending the same amount of money for less goods. Its called shrinkflation and its a tactic used by companies when their production costs go up. Instead of changing the prices, companies simply reduce the quantity of their items in the package.
Goldman Sachs slashes US economic growth forecast over weaker spending on services- CNN Business--7.26.21
Goldman Sachs has slashed its forecast for U.S. economic activity in the second half of the year due to sluggish consumer spending on services. Growing threats over the Covid-19 Delta variant is also posing a risk for the U.S. economy.
The rapid growth the U.S. economy has seen is about to hit a wall- CNBC-- 7.23.21
The U.S. economy is expected to show a strong growth spurt in the second quarter but that is expected to hit a wall in the third quarter. Negotiations over the debt ceiling could also shake things up in the U.S.
The Fed's New American Dream: Paying More And Getting Less- Zero Hedge--7.21.21
According to the Commerce Department, American consumers spent $621 billion on retail goods and services last month. Meanwhile, price increases in June far outran the increase in retail sales. Consumers paid significantly more in every retail category.
Dow drops more than 700 points on Monday, heads for worst decline of 2021- CNBC--7.19.21
U.S. stocks tumbled on Monday amid concerns the rebound in the number of Covid-19 cases would slow global economic growth. The Dow sees its biggest drop of the year.
The new real estate normal - MSN--7.18.21
2021 saw a record-setting housing market in 2021. Real estate values has surged by almost 25% since the beginning of the pandemic, creating more than $1 trillion in new wealth for existing homeowners.
White House quietly signals inflationary run could last years- Wall Street Journal--7.15.21
The White House is sending mixed messages on the post-pandemic inflationary run. There may be some signals the period might last years longer than administration officials have publicly indicated.
You may need to work longer, ramp up investment risk to afford retirement, BlackRock CEO Fink says--CNBC--7.14.21
Savers are getting slammed as central banks continue to keep rates low, or even negative in Europe, according to BlackRock's Larry Fink. Fink says he believes people "may have to work longer because they are not earning the same returns on their savings."
Powell says the Fed is still a ways off from altering policy, expects inflation to moderate- CNBC--7.14.21
Fed Reserve Chairman Jerome Powell stated the economy is "a ways off" from where it needs to be for the central bank to change policy. The central bank chief noted improvements but said the labor market in particular is still well below where it was before the pandemic hit.
Poll: 1.8 million Americans have turned down jobs due to unemployment benefits- Axios--7.14.21
About 1.8 million out-of-work Americans have turned down jobs because of the generosity of unemployment insurance benefits, according to a recent poll. U.S. business have been having labor supply shortages as individuals capable of working have opted not to work for a variety of reasons.
Inflation climbs higher than expected in June as price index rises 5.4%- CNBC--7.13.21
Consumer prices increased 5.4% in June from a year earlier, the biggest monthly gain since August 2008. Used car and truck prices comprised about one-third of the total CPI increase.
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