A new report reveals a 10% surge in US household electricity bills since Donald Trump's re-election, attributed to his support for data centers and cuts to clean energy. Energy Secretary Chris Wright blames Obama-Biden policies, while the report highlights Trump's pro-fossil fuel stance and new tariffs as contributing factors....
Rising food prices and changes to the Supplemental Nutrition Assistance Program (SNAP) are straining food banks in Las Vegas. Army veteran Earvin James Sr., facing increased costs, relies on the Helping Hands of Vegas Valley food pantry, supplied by Three Square food bank. Three Square reports a surge...
Concerns arose after President Trump fired the head of the US Bureau of Labor Statistics following disappointing jobs data. While no evidence suggests data manipulation, the appointment of a partisan successor worries global financial circles. Historical precedents in Greece and Argentina, where manipulated data harmed their economies, fuel these...
Bond traders anticipate Federal Reserve interest rate cuts, viewing a quarter-point reduction next month as highly likely, with another before year's end. This week's Jackson Hole economic symposium, featuring Chair Jerome Powell's speech, is crucial for the Treasury market. Powell's pronouncements at this event have historically influenced market...
Wholesale vegetable prices surged 38% in July, the largest increase for any product category. Experts are unsure if tariffs are the sole cause, citing other factors like adverse weather and supply chain issues. While consumer prices remained unchanged in July, a continued wholesale price increase could lead to...
Americans experienced record-high inflation recently, impacting grocery costs significantly. While inflation rates have decreased, consumer anxieties remain high, creating a disconnect between official statistics and personal perceptions. A new Planet Money podcast episode explores this disparity, interviewing economists to understand why individual inflation experiences differ from official measures....
Soaring electricity prices, exceeding inflation rates by more than double, are impacting households nationwide. Florida residents are particularly burdened, with bills reaching $400-$500 monthly, forcing difficult choices between necessities like medication and power. Increased demand from data centers and natural gas exports contribute to the price hike. ...
Indian Prime Minister Narendra Modi announced a reduction in Goods and Services Tax (GST) rates, the first such decrease since their introduction. This move aims to stimulate the economy, counteracting potential negative impacts from US tariffs. The reforms, expected to be implemented around Diwali in October, will benefit...
A power struggle erupted in D.C. after Attorney General Pam Bondi appointed DEA head Terry Cole as acting police chief, a move immediately challenged by D.C. Attorney General Brian Schwalb as unlawful. Separately, an analysis reveals that Trump's tariffs are causing a surge in producer prices, foreshadowing higher consumer...
US retail sales increased by 0.5% in July, exceeding economist predictions despite a slight decrease from June's 0.9% growth. Strong consumer spending, fueled by low unemployment and improved sentiment, continues to drive the US economy, accounting for roughly 70% of economic output. While some sectors like home improvement...
