Fed’s Powell facing rising criticism for inflation missteps

WASHINGTON (AP) – Federal Reserve Chair Jerome Powell won praise for his deft leadership during the maelstrom of the pandemic recession. As threats to the US economy have mounted, though, Powell has increasingly struck Fed watchers as much less sure-footed. Inflation has proved higher and far more persistent than he or the Fed’s staff economists … Read more

How to Keep Your Job, or Find a Better One, if There’s a Recession

The job market is still really hot. But concerns about the economy have many people wondering if their jobs are secure enough to survive. In the past week, Tesla said it would lay off 10% of its white-collar workers and there have been layoffs and hiring freezes or slowdowns at Netflix., Carvana and Robinhood, among … Read more

UK rail strike strands commuters, pits workers against govt

LONDON (AP) – Tens of thousands of railway workers walked off the job in Britain on Tuesday, bringing the train network to a crawl in the country’s biggest transit strike for three decades – and a potential precursor to a summer of labor discontent. About 40,000 cleaners, signalers, maintenance workers and station staff held a … Read more

How to Keep Your Job, or Find a Better One, if There’s a Recession

The job market is still really hot. But concerns about the economy have many people wondering if their jobs are secure enough to survive. In the past week, Tesla said it would lay off 10% of its white-collar workers and there have been layoffs and hiring freezes or slowdowns at Netflix., Carvana and Robinhood, among … Read more

Singapore imports 90% of its food – how is it coping with inflation?

A rooftop farm in Singapore on May 27, 2020. The small island nation lacks natural resources and imports more than 90% of its food from more than 170 countries and regions. Lauryn Ishak | Bloomberg | Getty Images Singapore is known for its variety of street food and local cuisines, but many may not know … Read more

The Federal Reserve passes the buck on inflation

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York CNN Business – The mission of the Federal Reserve is to foster the stability of US monetary systems. It’s the reason the central bank was created in 1913, and it’s … Read more

Biden’s optimism collides with mounting political challenges

WASHINGTON (AP) – Democrats are going to hold onto the House after November’s midterm elections. They will pick up as many as four seats in the Senate, expanding their majority and overcoming internal dissent that has helped stifle their agenda. As the challenges confronting President Joe Biden intensify, his predictions of a rosy political future … Read more

Here are three things the Fed’s done wrong, and what’s still not right

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, DC, June 14, 2022. Sarah Silbiger | Reuters After years of being a beacon for financial markets, the Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy through a wicked bout of inflation and away from … Read more

AP Interview: Biden says a recession is ‘not inevitable’

WASHINGTON (AP) – President Joe Biden said Thursday the American people are “really, really down” after a tumultuous two years with the coronavirus pandemicvolatility in the economy and now surging gasoline prices that are slamming family budgets. But he stressed that a recession was “not inevitable” and held out hope of giving the country a … Read more

The graph that disproves Biden’s claim that inflation is worse everywhere else in the world

President Joe Biden has been under fire for inflation that has reached its highest point in 41 years and has squeezed the finances of millions of Americans. He has blamed Vladimir Putin’s invasion of Ukraine and the COVID pandemic for the surge in prices – and now has pointed to inflation being a global issue. … Read more