In Michigan’s Macomb County, uncertainty over ‘Bidenomics’ | View caption Hide caption Right now, the outlook is not good for Mr. Biden. “Nationwide, and in Michigan as well, there is a divergence between … how people view their own economic standing versus how they feel about the economy as a whole,” says Matt Grossmann, a…
The smartest insight and analysis, from all perspectives, rounded up from around the web: “The Federal Reserve keeps taking, but nonetheless, this economy keeps on giving,” said Mitchell Hartman in NPR’s Marketplace. “The standard metaphor” for when the central bank has to raise interest rates to slow an overheating economy is that it takes away…
A recession impacts the middle and lower classes more than the wealthy. But during a “richcession,” it’s the “well-heeled who take a bigger hit than usual,” according to The Wall Street Journal’s Justin Lahar, who coined the term. At the beginning of the year, experts warned of a richcession, claiming that industries such as the luxury goods…
We’ve heard a lot about inflation in recent years, but we might not be as familiar with two terms that describe phenomena that could be partly driving it: greedflation and wageflation. “When inflation took off in 2021 in the U.S., so did corporate profits,” said The Wall Street Journal. This raised some eyebrows. But just as profit…
For many Americans enduring higher prices, easing inflation was on the wishlist for 2023 — and as of July, it’s looking like that dream just might come true. Inflation dropped to 3% in June, reaching its lowest level since May 2021 and marking the 12th month in a row that inflation has eased, based on the…
After three years and plenty of staffing shortages, it seems the so-called Great Resignation is on its way out. The phenomenon first arose as a result of the Covid-19 pandemic, when fatigued workers with cash to burn and time to think gave their employers an ultimatum: Show me you value me, or I’ll find somewhere…