Expected inflation

Having hit a peak of 9.1 percent in June, has dropped to 8.5 percent last month, an encouraging sign that the Federal Reserve's efforts to cool down surging prices might be working. But millions in the U.S. are still struggling, with the cost of living continuing to increase. To help residents whose household budgets have been severely dented by rising food, gas and housing prices, several states —including Delaware, Florida, Georgia, Hawaii, Indiana, Minnesota and New Mexico— have already started rolling out direct payments . Others are preparing to do so. Check out which states and residents are eligible for a stimulus check in the coming months below: California California is getting ready to issue another round of direct payments to millions of residents, this time in form of a tax refund of up to $1,050 called the "Middle Class Tax Refund." State leaders say an estimated 23 million people qualify for the checks, which will be sent out between October 2022 and January … [Read more...] about Stimulus check update 2022: Here’s when to expect yours

Business conditions in the northern MidAtlantic U.S. improved in August, a survey of manufacturers indicated on Thursday. The Federal Reserve Bank of Philadelphia said its index of general business conditions in the region rose into positive territory after two negative months. The index rose from -12.3 in July to +6.2. The unexpected rise in the Phily Fed index—economists had forecast the index would remain negative at -5—provides some relief from fears that manufacturing growth may have come to a sudden halt. That concern was sparked by an unexpected crash in the Empire State manufacturing index reported by the Federal Reserve Bank of New York on Monday. The N.Y. Fed’s index saw the second worst crash in its history in August . A plurality of 46.9 percent of manufacturing businesses said there was no change in the month. Twenty six point two percent said business activity increased in the month and 19.9 percent said it decreased. The Philly Fed pointed out that despite … [Read more...] about Philly Fed Manufacturing Index Rebounds Despite Pessimistic Outlook

+8 % Gross domestic product +6 +4 +2 0 –0.2% 2nd quarter 2022 –2 –4 –6 –8 ’06 ’08 ’10 ’12 ’14 ’16 ’18 ’20 ’22 +8 % Gross domestic product +6 +4 +2 0 –0.2% 2nd quarter 2022 –2 –4 –6 –8 ’06 ’08 ’10 ’12 ’14 ’16 ’18 ’20 ’22 A key measure of economic output fell for the second straight quarter, raising fears that the United States could be entering a recession — or perhaps that one had already begun. Gross domestic product, adjusted for inflation, fell 0.2 percent in the second quarter, the Commerce Department said Thursday. That drop followed a decline of 0.4 percent in the first quarter. The estimates for both periods will be revised in coming months as government statisticians get more complete data. News of the back-to-back contractions heightened a debate in Washington over whether a … [Read more...] about U.S. Economy Shows Another Decline, Fanning Recession Fears

Sen. Lisa Murkowski (R-AK) heads into the November midterm election against Trump-endorsed Kelly Tshibaka having voted with Senate Democrats nine times in the last two years. Murkowski, who has been in office for 21 years, is desperately fighting to save her political career. In Tuesday’s Alaska Republican primary, she only finished a few points ahead of Tshibaka. Both Murkowski and her opponent qualified in the primary to advance to the general election on November 8. Murkowski was appointed to the Senate by her father, Frank Murkowski, who served in the Senate from 1981 to 2002 and was the governor of Alaska from 2002 until 2006. 1: Gun Control Murkowski voted for the Bipartisan Safer Communities Act (S. 2938) , which “is a package of different gun control proposals stitched together with school safety and mental health provisions,” the Heritage Foundation stated. Cheney voted on the 80-page bill just 72 hours after the legislative text was revealed. “Expecting … [Read more...] about 9 Times Sen. Lisa Murkowski Voted with Democrats

We’re likely to hear a lot about inflation when the grand poobahs of central banking meet next week in Jackson Hole, Wyoming, for the annual economic conference hosted by the Federal Reserve Bank of Kansas City. As a primer for that, let’s review where we stand on the various channels through which monetary policy is thought to act on inflation. The basic theory that dominates central banks in most parts of the world is that raising interest rates will decrease inflation. This is not quite universally accepted. There are heterodox economists who believe the basic theory gets it backward. They point out that higher interest rates mean the private sector receives more interest income from the government, which they say adds to inflation. Turkey appears to have adopted something like this as its official policy—to disastrous effects . So it’s probably best to assume the basic theory is correct. There are seven main channels through which interest rate policy is thought to … [Read more...] about Breitbart Business Digest: Channel Surfing Through Monetary Policy

The Senate Leadership Fund (SLF), a Senate Republican-aligned Super PAC, has reserved $28 million worth of television and radio ads, which will air statewide in Ohio from Labor Day to the election, Cleveland.com first reported . The massive reservations from the Super PAC signal they are entirely behind Trump-backed J.D. Vance, who is running against failed 2020 presidential candidate Rep. Tim Ryan (D-OH), and are looking to keep the Buckeye State red after the midterms, even as Sen. Rob Portman (R-OH) is retiring. The Senate Leadership Fund’s investment in the state and Vance show that the super PAC is serious about keeping the seat red. In fact, Cleveland.com pointed out that, until recently, Ohio’s race was not seen as competitive. The Cook Politicians Report rates the seat as a “Lean” Republican, meaning a GOP candidate has a better chance of winning the seat. However, the Senate Leadership Fund’s massive investment is only ranked third in terms of the money the super … [Read more...] about GOP-Aligned Super PAC Will Spend $28M More on OH Senate Race

Universal Credit , the state pension and other benefits could rise by hundreds of pounds next year. These state benefits normally go up in April every year, which is known as "uprating". The Department for Work and Pensions (DWP) will soon decide how much to increase many benefits by from the new tax year in April 2023. We should know their plans by November 2022. Normally benefits including Universal Credit , Personal Independence Payment, Housing Benefit and Employment and Support Allowance (ESA) go up based on inflation. The DWP normally looks at inflation in the year to September then puts up benefits by that figure from the following April. The state pension goes up in a process called the "triple lock". This sees these pensions go up based on average earnings growth, inflation or 2.5% - whichever is greatest. Rising inflation means many households are struggling. But because inflation is currently so high, both benefits and state pensions could … [Read more...] about Universal Credit and state pension could rise by hundreds – how much you could get

Cloud and data centres, the chip industry's strongest sector, may be its next problem: Signs are showing that growth could slow in what has been a pillar during the COVID era as consumers signed up for cloud-based entertainment and companies retooled their offices. (Sign up to our Technology newsletter, Today’s Cache, for insights on emerging themes at the intersection of technology, business and policy. Click here to subscribe for free.) Analysts say the cloud market has rarely had to weather a prolonged economic downturn since it rose to prominence in the last decade as more businesses adopted the technology, making it harder to predict if it's recession proof or it will be hit in an economic downtown. As 40-year-high inflation weighs on consumers and economists debate recession signals, advertisers have been tightening their purse strings, say Big Tech companies. “Investors are worried it's the next shoe to drop," said Bernstein analyst Stacy Rasgon, adding that an … [Read more...] about Cloud hangs over U.S. chipmakers on worries data centre growth could slow

Netflix is bringing its new ad-tier plan to the market very soon, but as the day passes, we are getting new details about this upcoming plan that may not appeal to many users. The latest update suggests Netflix will not allow users to download content and watch them offline with the ad-tier plan. Downloads are a big part of the streaming platforms, and most of them charging for their service allows offline viewing. But it seems Netflix has other ideas, and not only does it plan to charge consumers for its ad-tier plan (albeit lower than its current rates) but also restrict some features for its users. All these details were discovered in the Netflix iPhone code by a developer named Steve Moser. He also found traces of Netflix not allowing you to skip ads or let you use the service while the ad is running. The video streaming platform faces heavy competition from the likes of Hulu, Disney+ Hotstar, and Amazon Prime Video among others. However, Netflix has been facing lower … [Read more...] about Netflix Will Not Allow This Feature For Users With Its Ad-Tier Plan: All Details

With the Indian National Congress’s presidential election process likely to get started in a few days, former Haryana Chief Minister and currently Leader of the Opposition in the Assembly Bhupinder Singh Hooda asserts that G-23 — the group that has been pushing for collective and inclusive leadership at levels of decision-making in the party since August 2020, after its members wrote a letter to Sonia Gandhi to press for sweeping changes in the party — are not rebels, but reformists and the group is still relevant and would continue to extend suggestions in future as well to strengthen the party. In an exclusive interview with The Hindu, Mr. Hooda says that in Haryana, the party had to suffer in the absence of organisational structure at the district and block levels for the last few years, but now the present HPCC leadership is in the process of building a vibrant organisation, which would be in place within a month’s time. Excerpts: As the Congress is scheduled to have a … [Read more...] about G-23 members are reformists not rebels: Bhupinder Singh Hooda