Brian Moynihan says the recent debate over whether the U.S. economy is technically in a recession or not is missing the point.
inflation
Posted inBusiness, Uncategorized
U.S. retail sales were flat in July as inflation takes a toll
Persistently high inflation and rising interest rates forced many households to spend more cautiously.
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Posted inBusiness
Lowe’s becomes latest employer to give workers inflation bonuses
Other businesses around the United States have been offering workers bonuses and gift cards to offset the cost of gas.
Posted inBusiness, Nation & World
Inflation Reduction Act may have little impact on inflation
Lower deficits usually lower inflation but the Congressional Budget Office determined this month that the changes would have a ‘negligible’ impact this year and next.
Posted inBusiness, Nation & World, News, Uncategorized
Inflation Reduction Act may have little impact on inflation
The legislation won’t directly address some of the main drivers of surging prices – from gas and food to rents and restaurant meals.
Posted inBusiness, Nation & World
Here’s what Biden’s big bill includes on climate, health care, deficit reduction
The package will touch countless American lives with longtime party proposals.
Posted inBusiness, Nation & World, Schools and Education
Back-to-school shopping: Families reach for cheaper options
A basket of roughly a dozen supply items showed a price increase of nearly 15% on average for this back-to-school season compared with a year ago as inflation squeezes all areas.
Posted inBusiness, Nation & World, News, Politics
Biden calls inflation-fighting deal with Sen. Manchin ‘godsend’ for U.S. families
A 15% corporate minimum tax will help fund the new costs, with extra going to deficit reduction.
Posted inBusiness, Nation & World, News
U.S. economy shrank 0.9% last quarter, its 2nd straight drop
The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession.
Posted inBusiness, Local & State, News
At summer’s peak, tourism has been a mixed bag so far in Maine
Visitors are still coming, but higher gas and other prices have some reining in their spending.