U.S. economy Archives - The Star Bulletin

Nov

10

2022

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By Kevin Bonner

Inflation data from October in the United States offer little relief.

Newseconomy, inflation, russia, U.S. economy, US

The country's abysmal inflation rate probably remained at a simmering level in October. This gave the Federal Reserve little reason to relax in its efforts to slow price rises by steadily increasing interest rates. According to FactSet's survey of economists, the Labor Department will report on Thursday that consumer prices rose by 8% over 12 months and by 0.6% between September and October. Core inflation, which excludes volatile energy and food costs, is expected to have risen 6.5% over the past year, and 0.5% between September and October. The United States, like many other countries, is having difficulty controlling inflation.…

US personal savings rate is nearing the historic low

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Americans are spending more on their own. Personal spending increased 0.6 percent in September, exactly the same as the previous month and income growth increased by 0.4 percent for both of the months. The total earnings increased 5.2 percent YoY, and so did earnings. However, due to the reduction of tax credits, income grew just 3.1 percentage points YoY. Spending, on the other hand, closely follows inflation, rising 8.2 percent in September, in comparison against the previous month one year ago. Lowa Youth Advocates seek to begin a campaign for marijuana education Growth in spending is generally an indicator of…

There is a reason why the U.S. Economy Is Still Unprepared to Let Go of the Ghost

NewsCEO Brian Moynihan, consumer's psyche, U.S. economy, University of California Berkeley.

The U.S economy has proven robust throughout the coronavirus outbreak after overcoming the worst quarter-to-quarter contraction in the history of the country, but at one point it seemed to some as if it was about to given up. Two quarter-long contractions in the gross domestic product during the first quarter of the year caused some experienced analysts (and some politicians) to declare that the recession had already begun. But put down the sympathy cards. On Thursday the government is scheduled to release that the economy grew in the third quarter of 2018, possibly by up to 3.3%. This is a…

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