The Week Inflation Panic Died

Don’t worry: Lumber is falling and the Fed is on the case.

#american-rescue-plan-2021, #federal-reserve-system, #inflation-economics, #united-states-economy

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As Lumber Prices Fall, the Threat of Inflation Loses Its Bite

Costs soared partly because of do-it-yourselfers’ spending stimulus checks, but a month of declines show that consumers aren’t about to trigger runaway increases.

#consumer-price-index, #federal-reserve-system, #inflation-economics, #labor-and-jobs, #prices-fares-fees-and-rates, #stimulus-economic, #united-states-economy, #wood-and-wood-products

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‘I Quit My Job’ Is a Signal of Economic Recovery

With new opportunities and a different perspective as the pandemic eases, workers are choosing to leave their jobs in record numbers.

#careers-and-professions, #coronavirus-2019-ncov, #hiring-and-promotion, #labor-and-jobs, #labor-department-us, #quarantine-life-and-culture, #telecommuting, #unemployment, #united-states-economy, #wages-and-salaries, #work-life-balance

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A Message for President Biden on the U.S. Catholic Bishops and Communion

The efforts by conservative bishops to arbitrate who receives communion reinforce why the American bishops so often stand alone.

#politics-and-government, #priests, #united-states-economy

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Eyeing One Big Economic Bill, Democrats Face Myriad Challenges

With bipartisan infrastructure talks coalescing around a plan that omits many of their top priorities, Democrats are vowing to push through their own package. It won’t be easy.

#american-jobs-plan-2021, #biden-joseph-r-jr, #democratic-party, #federal-budget-us, #federal-taxes-us, #gasoline-tax-us, #infrastructure-public-works, #law-and-legislation, #manchin-joe-iii, #sanders-bernard, #sinema-kyrsten, #united-states-economy, #united-states-politics-and-government

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A Millennial Economist Helps Power a Tax Evasion ‘Brain Trust’

Natasha Sarin, a protégé of Larry Summers, is taking a leading role developing tax policy at the Treasury Department — to some progressive Democrats’ chagrin.

#american-jobs-plan-2021, #biden-joseph-r-jr, #content-type-personal-profile, #federal-taxes-us, #high-net-worth-individuals, #sarin-natasha, #stimulus-economic, #summers-lawrence-h, #tax-evasion, #treasury-department, #united-states, #united-states-economy, #united-states-politics-and-government

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Stocks Drop as Wall Street’s Unease Stretches to a Fourth Day

Investors have been adjusting their expectations for interest rates, leading to a turbulent stretch for the stock market.

#banking-and-financial-institutions, #federal-reserve-system, #interest-rates, #standardpoors-500-stock-index, #stocks-and-bonds, #united-states-economy

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Welcome to the ‘Life Is Too Short’ Economy

Why this labor economist isn’t worried about the job market — or inflation.

#inflation-economics, #labor-and-jobs, #united-states-economy

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Democrats Float $6 Trillion Plan Amid Talks on Narrower Infrastructure Deal

Democrats are considering moving unilaterally on a sweeping economic package even as bipartisan talks continue on a smaller infrastructure bill.

#american-jobs-plan-2021, #biden-joseph-r-jr, #budgets-and-budgeting, #federal-budget-us, #federal-taxes-us, #filibusters-and-debate-curbs, #infrastructure-public-works, #law-and-legislation, #medicare, #sanders-bernard, #schumer-charles-e, #senate, #united-states-economy, #united-states-politics-and-government

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The American Renaissance Has Begun

During the pandemic, Americans have been asking existential questions about their lives; now they are changing them.

#coronavirus-2019-ncov, #coronavirus-reopenings, #economic-conditions-and-trends, #entrepreneurship, #labor-and-jobs, #relocation-of-business, #united-states-economy, #venture-capital, #wages-and-salaries

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The Economic Gauges Are Going Nuts. Jerome Powell Is Taking a Longer View.

Despite the current confusion, his outlook, based on hard lessons from the 2010s, is essentially optimistic.

#coronavirus-2019-ncov, #federal-reserve-system, #inflation-economics, #powell-jerome-h, #quantitative-easing, #stimulus-economic, #united-states-economy

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Trumpism Without Borders

The forces that brought the former president to power are exerting pressure all over the world. 

#biden-joseph-r-jr, #coronavirus-2019-ncov, #income-inequality, #national-intelligence-estimates, #politics-and-government, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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The Fed Meets as Economic Data Offers Surprises and Mixed Signals

The central bank will release its policy statement on Wednesday, followed by a news conference with Chair Jerome H. Powell.

#consumer-price-index, #federal-reserve-system, #government-bonds, #inflation-economics, #interest-rates, #labor-and-jobs, #powell-jerome-h, #prices-fares-fees-and-rates, #united-states-economy

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New York Is Getting $22 Billion in Federal Aid. How Should It Be Spent?

Business leaders warn the mayor that an influx of aid could be squandered on short-term programs that won’t help the unemployed.

#american-rescue-plan-2021, #biden-joseph-r-jr, #citizens-budget-commission, #city-council-nyc, #culture-arts, #de-blasio-bill, #federal-aid-us, #garcetti-eric-m, #income-inequality, #johnson-corey, #jones-austin-jennifer, #labor-and-jobs, #lightfoot-lori, #new-york-city, #partnership-for-new-york-city, #politics-and-government, #real-estate-board-of-new-york, #small-business, #tax-policy-center, #united-states-economy

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How to Have a Roaring 2020s (Without Wild Inflation)

Manage the boom, don’t fight it.

#inflation-economics, #labor-and-jobs, #recession-and-depression, #united-states-economy, #wages-and-salaries

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The Fed’s Quantitative Easing and Low Interest Rates Are Dangerous

The warning signs of an overheating economy are everywhere. Yet the Fed seems unable — or unwilling — to confront reality.

#biden-joseph-r-jr, #credit-and-debt, #federal-open-market-committee, #federal-reserve-system, #hubbard-r-glenn, #interest-rates, #powell-jerome-h, #quantitative-easing, #summers-lawrence-h, #treasury-department, #united-states-economy

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The Recession Isn’t Over Till They Say It’s Over. (But Who Are They?)

The contraction in the U.S. seemed to end quickly in April 2020, but the committee charged with determining an endpoint has been quiet.

#coronavirus-2019-ncov, #national-bureau-of-economic-research, #recession-and-depression, #united-states-economy

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To Fill Millions of Open Jobs, Many Workers Need More Than Skills

Helping people land good jobs with career paths takes more than skills training, labor experts say. Coaching, mentoring and other assistance are also needed.

#careers-and-professions, #coaches-and-managers, #goodwill-industries, #google-inc, #hiring-and-promotion, #labor-and-jobs, #markle-foundation, #microsoft-corp, #per-scholas-inc, #unemployment, #united-states-economy, #vocational-training

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The U.S. Enables Corporate Tax Avoiders. Can Biden Fix It?

American policymakers have sabotaged the nation’s ability to collect taxes from its corporations. Will Congress agree to change course?

#corporate-taxes, #ireland, #tax-shelters, #united-states-economy

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What the Rich Don’t Want to Admit About the Poor

Why do we leave millions of people in poverty? The answer should make us uncomfortable.

#hamilton-darrick, #income-inequality, #labor-and-jobs, #poverty, #shortages, #stimulus-economic, #unemployment-insurance, #united-states, #united-states-economy, #wages-and-salaries

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Wonking Out: Economic Nationalism, Biden-Style

China is the new Japan, and chips are the new chips.

#biden-joseph-r-jr, #china, #harris-kamala-d, #international-trade-and-world-market, #japan, #trump-donald-j, #united-states, #united-states-economy

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May 2021 Consumer Price Index Shows Fastest Inflation Since 2008

The Consumer Price Index showed the strongest year-over-year reading since 2008, and a core index popped the most since 1992.

#consumer-price-index, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-reserve-system, #inflation-economics, #labor-and-jobs, #powell-jerome-h, #prices-fares-fees-and-rates, #stimulus-economic, #united-states-economy, #united-states-politics-and-government

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ProPublica Report Has Congress Rethinking How to Tax Superrich

A report showing that the richest Americans, including Jeff Bezos, Elon Musk and Warren Buffett, pay almost no taxes has refocused attention on the tax code.

#alternative-minimum-tax, #biden-joseph-r-jr, #capital-gains-tax, #corporate-taxes, #democratic-party, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #internal-revenue-service, #pro-publica, #propublica, #republican-party, #senate-committee-on-finance, #stocks-and-bonds, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #tax-shelters, #taxation, #toomey-patrick-j, #united-states-economy, #united-states-politics-and-government, #warren-elizabeth, #wyden-ron

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Five Former Treasury Secretaries: Fund the IRS

America loses hundreds of billions of dollars to tax evasion every year. We need to give the I.R.S. the tools to combat it.

#federal-taxes-us, #income-tax, #tax-evasion, #treasury-department, #united-states-economy, #united-states-politics-and-government

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Biden Ends Infrastructure Talks With Republicans, Falling Short of a Deal

After weeks of failed efforts to bridge deep divides, the president pulled the plug, turning to a bipartisan group to try to salvage a chance at compromise.

#american-jobs-plan-2021, #biden-joseph-r-jr, #bridges-and-tunnels, #capito-shelley-moore, #cassidy-bill-1957, #deese-brian-c-1978, #federal-budget-us, #fitzpatrick-brian-k-1973, #gottheimer-joshua-s-1975, #infrastructure-public-works, #law-and-legislation, #manchin-joe-iii, #senate, #sinema-kyrsten, #transportation, #united-states-economy, #united-states-politics-and-government

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How to Keep the Economy Booming — And Meet the Demand for Workers

Rising demand must be met by rising supply.

#american-rescue-plan-2021, #coronavirus-2019-ncov, #hayek-friedrich-a, #keynes-john-maynard, #labor-and-jobs, #unemployment, #united-states-economy, #wages-and-salaries

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America Is Driving the Global Economy. When Does That Become a Problem?

New trade data suggests the outlook for the U.S. economy will depend in part on the rate of recovery of other nations.

#consumer-behavior, #economic-conditions-and-trends, #international-trade-and-world-market, #united-states-economy

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China Moves to Tame Inflation Before Prices Rise Too Much

Rising costs at its factories could trickle out into the rest of the world economy.

#china, #consumer-behavior, #currency, #economic-conditions-and-trends, #factories-and-manufacturing, #inflation-economics, #international-trade-and-world-market, #prices-fares-fees-and-rates, #renminbi-currency, #stockpiling, #united-states-economy, #us-dollar-currency

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Biden Administration Moves to Unkink Supply Chain Bottlenecks

A swath of recommendations calls for more investments, new supply chains and less reliance on other countries for crucial goods.

#alternative-and-renewable-energy, #american-rescue-plan-2021, #batteries, #biden-joseph-r-jr, #china, #computer-chips, #coronavirus-aid-relief-and-economic-security-act-2020, #electric-and-hybrid-vehicles, #energy-department, #factories-and-manufacturing, #health-and-human-services-department, #international-trade-and-world-market, #lithium-metal, #office-of-the-united-states-trade-representative, #rare-earths, #shortages, #united-states-economy, #united-states-politics-and-government

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To Fight Climate Change, Replace Fossil Fuels at Home and Work

To slow global warming, we need to electrify vast parts of our economy and power it with clean energy.

#alternative-and-renewable-energy, #electric-and-hybrid-vehicles, #electric-light-and-power, #fuel-emissions-transportation, #global-warming, #greenhouse-gas-emissions, #heating, #home-appliances, #labor-and-jobs, #united-states-economy

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Employers Are Begging for Workers. Maybe That’s a Good Thing.

The political scientist Jamila Michener discusses employer panic, America’s poverty addiction and the messy politics of work.

#labor-and-jobs, #united-states-economy, #united-states-politics-and-government

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Yellen Won a Global Tax Deal. Now She Must Sell It to Congress.

The Treasury secretary worked with finance ministers from the G7 to win support for a global minimum tax. But selling the idea to Republican lawmakers will not be easy.

#american-jobs-plan-2021, #american-rescue-plan-2021, #corporate-taxes, #federal-taxes-us, #labor-and-jobs, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

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Global Tax Deal Reached Among G7 Nations

The Group of 7 nations reached an agreement over a global minimum tax that companies would pay regardless of where they are based.

#coronavirus-2019-ncov, #corporate-taxes, #federal-taxes-us, #group-of-seven, #tax-evasion, #united-states-economy, #yellen-janet-l

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Federal Unemployment Aid Is Now a Political Lightning Rod

Republican-led states are cutting off relief months ahead of schedule, citing openings aplenty. Some jobless workers face hardships and tough choices.

#coronavirus-2019-ncov, #federal-aid-us, #labor-and-jobs, #republican-party, #states-us, #unemployment, #unemployment-insurance, #united-states-economy

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Biden Says Enhanced Unemployment Benefits Will Expire Soon

As Republicans blame enhanced unemployment insurance for slower-than-expected job gains, the White House stresses that the benefit will expire in September as planned.

#biden-joseph-r-jr, #democratic-party, #federal-reserve-system, #labor-and-jobs, #republican-party, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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Was the Jobs Report Good? It’s in the Eye of the Beholder.

With Americans divided over who bears credit for the economic recovery, we spoke with our reporter Ben Casselman about the latest job numbers.

#biden-joseph-r-jr, #labor-and-jobs, #unemployment, #united-states-economy, #united-states-politics-and-government

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May 2021 Jobs Report: U.S. Adds 559,000 to Payrolls

Many employers report having trouble finding applicants. Economists say the labor market may simply need time to get sorted out.

#coronavirus-reopenings, #hiring-and-promotion, #labor-and-jobs, #labor-department-us, #unemployment, #unemployment-insurance, #united-states-economy, #wages-and-salaries

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Hot Vax Summer Is Looking Lukewarm

The latest jobs report suggests that getting the economy back up to speed is not going to be effortless.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #labor-and-jobs, #shortages, #shutdowns-institutional, #unemployment, #united-states-economy, #wages-and-salaries

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Biden’s Covid Recovery Package Could Hinge on Tomorrow’s Job’s Report

Hint: The employment figures only tell part of the story.

#biden-joseph-r-jr, #gross-domestic-product, #inflation-economics, #labor-and-jobs, #productivity, #southern-states-us, #summers-lawrence-h, #united-states, #united-states-economy, #wages-and-salaries

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Wage Growth Is Holding Up in Aftermath of the Economic Crash

The pay increases are giving Democrats a bragging point. But it comes with risks: Gains could fade, or spark quicker price inflation.

#coronavirus-2019-ncov, #federal-reserve-bank-of-atlanta, #inflation-economics, #labor-and-jobs, #savings, #service-industries, #unemployment, #united-states-economy, #wages-and-salaries

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How to Track the United States’ Economic Recovery

The ebbing of the pandemic has brought price increases, supply bottlenecks and labor shortages. Key indicators will show whether it’s just a stage.

#consumer-behavior, #consumer-price-index, #coronavirus-2019-ncov, #inflation-economics, #interest-rates, #labor-and-jobs, #part-time-employment, #prices-fares-fees-and-rates, #unemployment, #united-states-economy, #wages-and-salaries

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Here Are The 5 Ways to Track the United States’ Economic Recovery

The ebbing of the pandemic has brought price increases, supply bottlenecks and labor shortages. Key indicators will show whether it’s just a stage.

#consumer-behavior, #consumer-price-index, #coronavirus-2019-ncov, #inflation-economics, #interest-rates, #labor-and-jobs, #part-time-employment, #prices-fares-fees-and-rates, #unemployment, #united-states-economy, #wages-and-salaries

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Biden, Facing July 4 Deadline, Rallies Nation With Vaccination Incentives

President Biden announced a get-out-the-vote-style plan to meet his goal of partly vaccinating at least 70 percent of Americans by July 4, including offers of free child care, free sports tickets and free beer.

#anheuser-busch-inbev-nv, #biden-joseph-r-jr, #coronavirus-2019-ncov, #harris-kamala-d, #independence-day-us-july-4, #stimulus-economic, #united-states, #united-states-economy, #united-states-politics-and-government, #vaccination-and-immunization

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Yellen Aims to Win Support for Global Tax Deal

The Biden administration is trying to persuade other nations to approve a global minimum tax as it works to curb profit shifting and raise corporate taxes in the United States.

#corporate-taxes, #europe, #great-britain, #taxation, #united-states-economy, #yellen-janet-l

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Stimulus Checks Substantially Reduced Hardship, Study Shows

Researchers found that sharp declines in food shortages, financial instability and anxiety coincided with the two most recent rounds of payments.

#anxiety-and-stress, #census-bureau, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #food-insecurity, #poverty, #rationing-and-allocation-of-resources, #research, #stimulus-economic, #united-states-economy, #united-states-politics-and-government

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Americans Don’t Want to Return to Lousy Low Wage Jobs

But it’s helping people finally be picky about turning down lousy jobs.

#coronavirus-2019-ncov, #income-inequality, #labor-and-jobs, #shortages, #unemployment-insurance, #united-states-economy, #wages-and-salaries

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The Burning of Black Tulsa

A century after a race massacre that leveled businesses and homes, and killed hundreds, what would justice look like?

#black-people, #oklahoma, #race-and-ethnicity, #staples-brent, #tulsa-okla, #tulsa-race-riot-1921, #united-states, #united-states-economy

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Global Shortages During Coronavirus Reveal Failings of Just in Time Manufacturing

Global shortages of many goods reflect the disruption of the pandemic combined with decades of companies limiting their inventories.

#automobiles, #calvin-klein-inc, #computer-chips, #coronavirus-2019-ncov, #executive-compensation, #factories-and-manufacturing, #ford-henry, #intel-corporation, #international-trade-and-world-market, #mckinseyco, #nike-inc, #quarantine-life-and-culture, #ships-and-shipping, #shutdowns-institutional, #stock-buybacks, #stockpiling, #stocks-and-bonds, #taiwan-semiconductor-manufacturing-company-ltd, #toyota-motor-corp, #united-states-economy

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The Radical Modesty of Biden’s Budget

How to do big things without making bombastic claims.

#biden-joseph-r-jr, #economic-growth, #federal-budget-us, #taxation, #united-states-economy, #united-states-politics-and-government

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To Motivate Workers, Republican Governors Experiment With Pain

Why does the federal government tolerate stingy state unemployment programs?

#labor-and-jobs, #layoffs-and-job-reductions, #recession-and-depression, #unemployment-insurance, #united-states-economy, #wages-and-salaries

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