Why Biden Shouldn’t Blame Inflation on Monopolies

A Biden initiative comes in for weirdly vehement criticism.

#antitrust-laws-and-competition-issues, #biden-joseph-r-jr, #economics-theory-and-philosophy, #federal-reserve-system, #inflation-economics, #internal-sub-only-nl, #international-trade-and-world-market, #prices-fares-fees-and-rates, #united-states-economy, #united-states-politics-and-government

BBC Funding Frozen for 2 Years as Cabinet Minister Attacks Public Fee

The license fee on TV owners makes up three-quarters of the British broadcaster’s income and is guaranteed until 2027.

#british-broadcasting-corp, #conservative-party-great-britain, #daily-mail, #dorries-nadine, #great-britain, #politics-and-government, #prices-fares-fees-and-rates, #television

Martin Shkreli Barred From Drug Industry and Must Repay $64.6 Million

A federal judge found that Mr. Shkreli violated state and federal antitrust laws by trying to maintain a monopoly over a lifesaving drug and must pay back the excess profits.

#antitrust-laws-and-competition-issues, #cote-denise, #decisions-and-verdicts, #drugs-pharmaceuticals, #prices-fares-fees-and-rates, #shkreli-martin-1983, #vyera-pharmaceuticals-llc

Why Rapid Covid Tests May Not Be Free Upfront at First

Not all health plans will be ready for the Covid tests to be free upfront at stores, relying at first on receipts and reimbursement.

#coronavirus-2019-ncov, #drugstores, #health-insurance-and-managed-care, #politics-and-government, #prices-fares-fees-and-rates, #shortages, #tests-medical

OPEC Plus and Other Oil Producers Aren’t Keeping Up With Demand

OPEC Plus, the United States and others have been slow to ramp up output, lagging production goals.

#coronavirus-2019-ncov, #nigeria, #oil-petroleum-and-gasoline, #organization-of-the-petroleum-exporting-countries, #prices-fares-fees-and-rates, #saudi-arabia, #united-states

Spike in Inflation Reignites Debate on Price Controls

A discussion over whether price controls would work to stem inflation is sweeping progressives. So far, it has little political acceptance.

#coronavirus-2019-ncov, #inflation-economics, #nixon-richard-milhous, #prices-fares-fees-and-rates, #rationing-and-allocation-of-resources, #regulation-and-deregulation-of-industry, #rumsfeld-donald-h, #shortages, #united-states-economy

CPI December 2021: Inflation Jumped at Fastest Pace Since 1982

The Consumer Price Index increased at the fastest pace in 40 years, a new report showed.

#automobiles, #consumer-price-index, #federal-reserve-system, #inflation-economics, #powell-jerome-h, #prices-fares-fees-and-rates, #shortages, #supply-chain, #united-states-economy

Supply Chain Snags Continued to Drive Up Inflation in December

The surge in coronavirus cases is idling workers at ports and trucking companies, while strong consumer demand continues to drive up the cost of shipping and energy.

#buttigieg-pete-1982, #consumer-price-index, #coronavirus-omicron-variant, #international-trade-and-world-market, #ports, #prices-fares-fees-and-rates, #ships-and-shipping, #supply-chain, #transportation-department-us

College Merit Aid (or Lack Thereof) Makes Early Decision Ever Murkier

Northeastern University won’t estimate how much merit aid it might offer if you get in. Can schools make you enroll if they don’t give you enough?

#admissions-standards, #colleges-and-universities, #content-type-service, #financial-aid-education, #northeastern-university, #personal-finances, #prices-fares-fees-and-rates, #tuition

Kazakhstan Declares State of Emergency as Protests Over Fuel Prices Spread

In a rare show of dissent in the authoritarian country, thousands took to the street as gas prices doubled. The government responded with curfews and tear gas.

#demonstrations-protests-and-riots, #kazakhstan, #nazarbayev-nursultan-a, #oil-petroleum-and-gasoline, #politics-and-government, #prices-fares-fees-and-rates, #tokayev-kassym-jomart

Will Inflation Push Us From Pandemic to Recession?

Inflation unchecked can become a father to extremism.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #credit-and-debt, #federal-reserve-system, #inflation-economics, #interest-rates, #prices-fares-fees-and-rates, #subprime-mortgage-crisis

Democrats Blast Corporate Profits as Inflation Surges

Politicians are placing more blame on greedy companies as prices stay high. But booming consumer demand is enabling firms to charge more.

#american-rescue-plan-2021, #coronavirus-aid-relief-and-economic-security-act-2020, #corporations, #inflation-economics, #interest-rates, #price-gouging, #prices-fares-fees-and-rates, #stimulus-economic, #united-states-economy

What We Learned About the Economy in 2021

For once, the government tried overheating the economy. For better and worse, it succeeded.

#american-rescue-plan-2021, #inflation-economics, #labor-and-jobs, #polls-and-public-opinion, #prices-fares-fees-and-rates, #shortages, #stimulus-economic, #united-states-economy, #wages-and-salaries

A New Ban on Surprise Medical Bills Starts This Week

If you have a medical emergency, you will no longer need to worry about a large bill from a doctor you did not choose.

#ambulances, #consumer-protection, #content-type-service, #doctors, #emergency-medical-treatment, #health-insurance-and-managed-care, #hospitals, #law-and-legislation, #prices-fares-fees-and-rates

How to Spot Those Pesky (and Expensive) Lodging Fees

Some charges are up, some down, others more explicit as the lodging industry tries to recover from the pandemic.

#budget-travel, #hotels-and-travel-lodgings, #prices-fares-fees-and-rates, #travel-and-vacations

For U.K. Companies Brexit Meant Higher Costs and Endless Forms

While the worst of the Brexit trade disruptions are over, British exports to the European Union are down and companies are frustrated.

#customs-tariff, #europe, #european-union, #great-britain, #great-britain-withdrawal-from-eu-brexit, #international-trade-and-world-market, #prices-fares-fees-and-rates, #relocation-of-business, #shopping-and-retail

Germany Wants Its Russian Pipeline. German Allies Aren’t Sure It’s a Good Idea.

The Nord Stream 2 Russia-to-Germany pipeline could offer plentiful natural gas. But tensions with Vladimir Putin are keeping it out of reach.

#cruz-ted, #energy-and-power, #europe, #gazprom, #germany, #international-trade-and-world-market, #natural-gas, #nord-stream-2, #nord-stream-ag, #pipelines, #politics-and-government, #prices-fares-fees-and-rates, #russia, #scholz-olaf-1958, #ukraine

Record Beef Prices, but Ranchers Aren’t Cashing In

“You’re feeding America and going broke doing it”: After years of consolidation, four companies dominate the meatpacking industry, while many ranchers are barely hanging on.

#agriculture-department, #american-meat-institute, #antitrust-laws-and-competition-issues, #beef, #cattle, #federal-trade-commission, #international-trade-and-world-market, #jbs-sa, #meat, #meatpacking-plants-and-slaughterhouses, #prices-fares-fees-and-rates, #ranches, #supply-chain

Biden Turns to Antitrust Enforcers to Combat Inflation

A wide-ranging presidential order helped block a railroad merger and tackle supply-chain problems, and it is planting the seeds for bigger actions.

#agriculture-department, #antitrust-laws-and-competition-issues, #biden-joseph-r-jr, #federal-maritime-commission, #federal-trade-commission, #inflation-economics, #meat, #prices-fares-fees-and-rates, #united-states-economy, #united-states-politics-and-government

As Prices Rise Due to Inflation, Biden Turns to Antitrust Enforcers

A wide-ranging presidential order helped block a railroad merger and tackle supply-chain problems, and it is planting the seeds for bigger actions.

#agriculture-department, #antitrust-laws-and-competition-issues, #biden-joseph-r-jr, #federal-maritime-commission, #federal-trade-commission, #inflation-economics, #meat, #prices-fares-fees-and-rates, #united-states-economy, #united-states-politics-and-government

Fighting Inflation Means Taking On Corporations

Easing spiking prices will take more than raising interest rates.

#benenson-joel, #biden-joseph-r-jr, #carter-jimmy, #consumer-price-index, #ford-gerald-rudolph-jr, #inflation-economics, #interest-rates, #johnson-lyndon-baines, #martin-william-mcchesney, #presidents-and-presidency-us, #prices-fares-fees-and-rates, #united-states-economy

PCE Index Hit Highest Level in November Since 1982

The Fed’s preferred inflation gauge, the Personal Consumption Expenditures index, climbed 5.7 percent in November from a year earlier.

#consumer-confidence-economic-indicator, #federal-reserve-system, #inflation-economics, #labor-and-jobs, #powell-jerome-h, #prices-fares-fees-and-rates, #united-states-economy

Supply Chain Problems Mean Buying a Car Sometimes Takes a Plane Ride

The limited supply of new and used vehicles is forcing some Americans to go to great lengths to find and buy them, including traveling to dealers hundreds of miles away.

#automobiles, #computer-chips, #coronavirus-2019-ncov, #electric-and-hybrid-vehicles, #ford-motor-co, #general-motors, #group-1-automotive-inc, #prices-fares-fees-and-rates, #shopping-and-retail, #shutdowns-institutional, #tesla-motors-inc, #united-states, #used-cars

At a Paris Market, Costs Rise, Even for the Humble Baguette

Soaring inflation in Europe is starting to squeeze shopkeepers and consumers. Many are preparing for more price increases in the new year.

#coronavirus-2019-ncov, #inflation-economics, #paris-france, #prices-fares-fees-and-rates, #shopping-and-retail, #shortages

How a Hearing Test for Babies Has Paid Off for a Big Medical Provider

Routine use of a more advanced screening method turns a low-cost procedure into a pricier one.

#babies-and-infants, #consumer-protection, #ears-and-hearing, #health-insurance-and-managed-care, #hospitals, #pregnancy-and-childbirth, #prices-fares-fees-and-rates

Architects Are the Latest White-Collar Workers Drawn to Unions

Saying they are overworked and underpaid, architects at a prominent New York firm want to unionize. Others could follow.

#american-institute-of-architects, #architecture, #international-assn-of-machinists, #labor-and-jobs, #manhattan-nyc, #organized-labor, #overtime, #paid-time-off, #prices-fares-fees-and-rates, #shop-architects, #wages-and-salaries, #work-life-balance

Profiteering Is in the Eye of the Beholder

Not every case of big profits is unethical or illegal.

#antitrust-laws-and-competition-issues, #coronavirus-2019-ncov, #inflation-economics, #internal-sub-only-nl, #khan-lina, #price-gouging, #prices-fares-fees-and-rates, #small-business

Biogen Slashes Price of Alzheimer’s Drug Aduhelm, as It Faces Obstacles

A group of Alzheimer’s experts and health advocates called on the F.D.A. to withdraw its approval of the drug, the latest of several setbacks for the treatment.

#aduhelm-drug, #alzheimers-disease, #biogen-inc, #drugs-pharmaceuticals, #food-and-drug-administration, #prices-fares-fees-and-rates, #your-feed-healthcare, #your-feed-science

Omicron Is an Economic Threat, but Inflation Is Worse, Central Bankers Say

Within 24 hours, the Federal Reserve, Bank of England and European Central Bank all stepped forward to deal with price increases.

#bailey-andrew-1959, #banking-and-financial-institutions, #coronavirus-omicron-variant, #economic-conditions-and-trends, #europe, #great-britain, #inflation-economics, #interest-rates, #lagarde-christine, #powell-jerome-h, #prices-fares-fees-and-rates, #quantitative-easing, #united-states

Sneaker Sellers Wrestle With Price Spikes After Virgil Abloh’s Death

When unexpected tragedy, unsatiable hypebeasts and the rapidly growing resale market collide.

#abloh-virgil, #auctions, #christies, #fashion-and-apparel, #nike-inc, #off-white-fashion-label, #prices-fares-fees-and-rates, #sneakers, #stockx

Why Jerome Powell Pivoted on Inflation

A surge in wages and benefits got his attention. Other data soon confirmed his concern.

#banking-and-financial-institutions, #federal-reserve-system, #inflation-economics, #interest-rates, #powell-jerome-h, #prices-fares-fees-and-rates, #quantitative-easing, #united-states-economy

Inflation Worries Say a Lot About You (and May Move Prices)

Age, region, education and income all influence what people think consumer prices will be a few years from now. And that creates a policy puzzle.

#age-chronological, #consumer-behavior, #consumer-price-index, #federal-reserve-bank-of-new-york, #federal-reserve-system, #income, #inflation-economics, #prices-fares-fees-and-rates, #research, #united-states-economy

Penguin Random House Defends Effort to Buy Simon & Schuster

The Biden administration has challenged the deal over concerns it would harm authors, but the publisher said that argument is a misunderstanding of how the book industry works.

#antitrust-laws-and-competition-issues, #book-trade-and-publishing, #books-and-literature, #justice-department, #mergers-acquisitions-and-divestitures, #penguin-random-house, #prices-fares-fees-and-rates, #simonschuster-inc, #suits-and-litigation-civil, #writing-and-writers

Workers in Europe Are Demanding Higher Pay as Inflation Soars

Prices are rising at the fastest rate on record, and unions want to keep up. Policymakers worry that might make inflation worse.

#economic-conditions-and-trends, #europe, #european-central-bank, #france, #leroy-merlin, #lvmh-moet-hennessy-louis-vuitton-sa, #organized-labor, #prices-fares-fees-and-rates, #sephora, #wages-and-salaries

M.T.A. to Offer Free Rides for ‘Tap-and-Go’ Customers

Transit leaders hope to boost ridership by putting a weekly fare cap on trips made with the subway’s new “tap-and-go” payment system.

#community-service-society-of-new-york, #coronavirus-2019-ncov, #metrocard-nyc, #metropolitan-transportation-authority, #new-york-city, #prices-fares-fees-and-rates, #subways, #transit-systems

M.T.A. to Offer Free Rides for OMNY ‘Tap-and-Go’ Customers

Transit leaders hope to boost ridership by putting a weekly fare cap on trips made with the subway’s new “tap-and-go” payment system.

#community-service-society-of-new-york, #coronavirus-2019-ncov, #metrocard-nyc, #metropolitan-transportation-authority, #new-york-city, #prices-fares-fees-and-rates, #subways, #transit-systems

Consumer Prices Rose at Fastest Pace Since 1982

The Consumer Price Index is rising sharply, a concern for Washington policymakers and a sign of the rising costs facing American households.

#biden-joseph-r-jr, #consumer-price-index, #coronavirus-2019-ncov, #factories-and-manufacturing, #federal-reserve-system, #inflation-economics, #powell-jerome-h, #price-gouging, #prices-fares-fees-and-rates, #united-states-politics-and-government, #wages-and-salaries

One-year jump in energy prices is a big factor in inflation’s jump.

Energy prices rose by one-third in the last year, and 6.8 percent in November alone, but there are recent signs of relief.

#consumer-price-index, #energy-and-power, #heating, #inflation-economics, #natural-gas, #oil-petroleum-and-gasoline, #prices-fares-fees-and-rates, #united-states-economy

Doctors and Hospitals Make Late Bid to Change Surprise Billing Ban

A lawsuit says the Biden administration’s faulty interpretation of the law will harm medical providers.

#arbitration-conciliation-and-mediation, #health-insurance-and-managed-care, #hospitals, #law-and-legislation, #prices-fares-fees-and-rates, #regulation-and-deregulation-of-industry, #suits-and-litigation-civil, #united-states-politics-and-government

Here’s Why Inflation Is Worrying Washington

Price gains have moved up sharply for months, but the fact that the trend is lasting and broadening has newly put policymakers on red alert.

#automobiles, #consumer-price-index, #coronavirus-2019-ncov, #federal-reserve-system, #inflation-economics, #pizza, #prices-fares-fees-and-rates, #shortages, #wages-and-salaries

Tips for Buying a Used Car

Top dealerships offer reassurances, but better prices might be found elsewhere. Check the Carfax, and offer to meet in a police station parking lot.

#carfax, #carmax-inc, #carvana-co, #content-type-service, #craigslist, #prices-fares-fees-and-rates, #shopping-and-retail, #used-cars, #vroom-inc

Sri Lanka’s Plunge Into Organic Farming Brings Disaster

The economically troubled country banned chemical fertilizers without preparing farmers, prompting a surge in food prices and worries about shortages.

#agriculture-and-farming, #economic-conditions-and-trends, #fertilizer, #food, #hazardous-and-toxic-substances, #international-trade-and-world-market, #prices-fares-fees-and-rates, #rajapaksa-gotabaya, #shortages, #sri-lanka, #tea, #vegetables

Pandemic-Era ‘Excess Savings’ Are Dwindling for Many

The drop in cash reserves has vast implications for the working class and could dampen consumer spending, a large share of economic activity.

#consumer-behavior, #coronavirus-2019-ncov, #federal-aid-us, #income, #inflation-economics, #labor-and-jobs, #personal-finances, #prices-fares-fees-and-rates, #savings, #united-states-economy

Urea Shortage Is Felt Around the World

Farmers in India are desperate. Trucks in South Korea had to be idled. Food prices, already high, could rise even further.

#agriculture-and-farming, #cf-industries-holdings-inc, #china, #embargoes-and-sanctions, #england, #fertilizer, #india, #international-trade-and-world-market, #madhya-pradesh-india, #natural-gas, #oil-petroleum-and-gasoline, #potash, #prices-fares-fees-and-rates, #russia, #seoul-south-korea, #shortages, #south-korea, #trucks-and-trucking, #united-states, #world-bank

November 2021 Jobs Report: A Gain of 210,000

Employers reported adding 210,000 jobs, the year’s weakest showing, but there were also bright spots. The mixed picture complicated policy prospects.

#biden-joseph-r-jr, #coronavirus-omicron-variant, #federal-reserve-system, #hiring-and-promotion, #inflation-economics, #labor-and-jobs, #labor-department-us, #powell-jerome-h, #prices-fares-fees-and-rates, #unemployment, #united-states-economy, #wages-and-salaries

In Biden’s Plan for Free Rapid Tests, Legwork Will Be Required

Some nations make Covid tests available at little to no cost for consumers. The U.S. plan for home testing includes submitting receipts to private insurers.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #health-insurance-and-managed-care, #law-and-legislation, #prices-fares-fees-and-rates

OPEC Faces Omicron Uncertainty and Rebellious Customers

The oil cartel and Russia want to bolster prices after a 10 percent drop last week. But they also need to consider the release of reserves by the U.S. and other countries.

#coronavirus-omicron-variant, #oil-petroleum-and-gasoline, #organization-of-the-petroleum-exporting-countries, #prices-fares-fees-and-rates, #saudi-arabia, #strategic-petroleum-reserve-us

Supply-Chain Kinks Force Small Manufacturers to Scramble

Facing delays, shortages and higher prices for raw materials, companies are finding new sources. Not all are able to pass along the costs.

#delays-transportation, #factories-and-manufacturing, #inflation-economics, #prices-fares-fees-and-rates, #ships-and-shipping, #shopping-and-retail, #small-business, #united-states-economy

Supply Chain Shortages Help a North Carolina Furniture Town

The furniture capital of the state is ground zero for inflation, labor shortages, hot demand and limited supply. It’s debating how to cope.

#factories-and-manufacturing, #furniture, #hickory-nc, #inflation-economics, #interior-design-and-furnishings, #labor-and-jobs, #prices-fares-fees-and-rates, #shortages, #united-states-economy, #wages-and-salaries

A Holiday Gift Guide to Beat Inflation

Prices are soaring for almost everything, but a few choice gifts are even cheaper than two years ago. Or show your love by going on your family’s annual “lard run.”

#bureau-of-labor-statistics, #consumer-price-index, #content-type-service, #gifts, #inflation-economics, #personal-finances, #prices-fares-fees-and-rates