U.S. Economy

Congress Republicans may use increasing prices in the U.S. to flip House and Senate seats in the 2022 midterm elections, despite economists saying the inflation is a temporary consequence of the pandemic rather than a consequence of increased Democratic spending.

"Traditional banks have not always seen or understood the vision of women, small business owners, small business owners of color, small business owners who serve low-income communities," Vice President Kamala Harris said.

Bitcoin's 10% climb in the last two days raises a basic question: Is this a dead cat bounce or the foundation for a rally? The National Retail Federation (NRF) said it expects retail sales to increase 10.5% to 13.5% this year compared with 2020.

"It's not about avoidance but rather portfolio construction based on an individual's investment goals or situation," Bill Herrmann, Co-Founder and Managing Partner at Wilshire Phoenix in New York told Newsweek.

The unemployment rate fell to 5.8 percent from 6.1 percent in May.

Border town economies that rely on Mexican tourism struggle as the U.S. and Mexico extend restrictions on crossing at the border.

The clearest sign that we're at the very start of a wage-price spiral is that businesses have lost all fear of raising prices.

A global shortage of computer chips has forced automakers to cut down on production, resulting in fewer new vehicles at dealerships. With fewer new vehicles, there is increased demand.

"One step policymakers should take now is ending the $300 weekly supplemental unemployment benefit," the chamber's executive vice president said.

Growth matters. The Republicans who followed Reagan into the White House either didn't get it or couldn't explain it.

A year after COVID-19 forced the companies to shift to remote operations, a survey shows the majority of New York City's 1.6 million commuters is still homebound.

In internal company documents, a private-equity owned conglomerate claimed credit to its employees about successfully blocking a boost in pay for low-wage workers.

President Joe Biden met with union bosses in the Oval Office on Wednesday where he discussed details of both the COVID-relief bill and a second possible spending package.

Some fear stimulus spending to offset the worst of the economic shutdown during the COVID-19 pandemic and the Federal Reserve's injection of billions into the economy threaten the U.S. dollar's standing as the world's reserve currency.

"This support from the federal government must be large and sustained until the pandemic is under control and Americans can resume normal work," a former chairman of the Council of Economic Advisers said.

Some using the #BidenLied hashtag insisted Biden had promised $2,000 payments, not $1,400 plus $600.

"I don't necessarily know that providing $2,000 on a monthly basis would necessarily be the right approach at this stage," the chief U.S. economist at Oxford Economics told Newsweek.

President Joe Biden has upped his goal for COVID-19 vaccinations in the United States—from 100 million in his first 100 days in office to about 150 million. This comes after some argued that his 100 million-doses goal was already on track to be met by the Trump administration.

Around 900,000 workers filed for initial jobless claims last week, the U.S. Department of Labor said.

Shannon Harshbarger decided to give the money to the Facing Hunger Foodbank in Huntington, as experts warn of widespread hunger caused by the coronavirus pandemic.

It took Congress less than a month to pass legislation giving a $700 billion bailout to bank executives during the financial crisis. Lawmakers have spent eight months mulling the far less expensive stimulus bill.

Individuals with $87,000 in annual income and married couples making $174,000 are among those who will not be eligible.

Treasury Secretary Steven Mnuchin said checks could arrive as early as next week.

Democrat and Republican negotiators are said to be closing in on a new package, but there remains some uncertainty over the eligibility for direct payments.

"The first wave was like a shotgun start and then a brick wall finish because the money ran out," O'Malley said of the first round of stimulus. "When a smaller amount gets made available this time, it's going to be another shotgun start."

The output gap is the difference between expected economic output under current law and possible economic output if the economy were operating at full potential.

Although there are certainly arguments to be made in favor of Biden's proposals, we've talked to hundreds of American manufacturers, and have learned that many of these campaign promises have raised skepticism.

Newsom called for a "focus on public health" when asked about the petition, which campaigners say has more than 800,000 signatures.

Will we wake up one day and find that China has been reading our mail? Losing our technological edge could have major security implications for the U.S.

Designers and health officials have developed ways to limit risk of infection from COVID-19 and other viruses. And even with the development of effective vaccines, the office as we have known is likely never to be the same again.