Supply Chain Woes Could Worsen as China Imposes Covid Lockdowns

American manufacturers are worried that China’s zero-tolerance coronavirus policy could throw a wrench in the global conveyor belt for goods this year.

#china, #coronavirus-2019-ncov, #coronavirus-omicron-variant, #international-trade-and-world-market, #ports, #ships-and-shipping, #supply-chain, #united-states-economy

This Isn’t the Presidency Biden Imagined for Himself

The problems the president is facing are an almost perfect inversion of the problems Obama faced.

#american-families-plan-2021, #american-jobs-plan-2021, #american-rescue-plan-2021, #democratic-party, #infrastructure-investment-and-jobs-act-2021, #presidential-election-of-2020, #supply-chain, #united-states, #united-states-economy, #united-states-politics-and-government

A Fascinating Page-Turner Made From an Unlikely Subject: Federal Reserve Policy

Christoper Leonard’s “The Lords of Easy Money” takes aim at the Fed’s decision to inject new money into the banking system.

#banking-and-financial-institutions, #books-and-literature, #federal-open-market-committee, #federal-reserve-system, #leonard-christopher-journalist, #the-lords-of-easy-money-how-the-federal-reserve-broke-the-american-economy-book, #united-states-economy

Unionizing Starbucks, Inspired by Bernie Sanders

The liberal workers the company has long attracted are expanding a union campaign to other cities after a landmark victory in Buffalo.

#coffeehouses, #labor-and-jobs, #national-labor-relations-board, #organized-labor, #sanders-bernard, #starbucks-corporation, #united-states-economy, #workers-united

Biden Will Nominate Three New Fed Officials

The nominees would bring more diverse leadership to the Fed, which has struggled to expand its ranks.

#appointments-and-executive-changes, #banking-and-financial-institutions, #biden-joseph-r-jr, #cook-lisa-d, #federal-reserve-system, #jefferson-philip, #raskin-sarah-bloom, #regulation-and-deregulation-of-industry, #united-states-economy, #united-states-politics-and-government

The Secret Triumph of Economic Policy

Why Covid-19 cost us fewer jobs than the dot-com bust.

#american-rescue-plan-2021, #coronavirus-2019-ncov, #inflation-economics, #unemployment, #united-states-economy

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

I.R.S. to Start Tax Season With Major Backlog

At least 10 million returns from last year remain unprocessed because of short-staffing at the tax collector, according to the national taxpayer advocate.

#child-tax-credits-and-stipends, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-taxes-us, #internal-revenue-service, #tax-preparers-and-preparation, #taxpayer-advocate-service, #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

Jerome Powell Says Fed Is Prepared to Raise Rates to Tame Inflation

The Federal Reserve chair is testifying before lawmakers as he seeks Senate confirmation to a second term.

#banking-and-financial-institutions, #federal-reserve-system, #inflation-economics, #powell-jerome-h, #united-states-economy, #united-states-politics-and-government

Bitcoin, Inflation and the Misguided Fear of Government Money Creation

Bitcoin can’t solve a problem we don’t actually have.

#banking-and-financial-institutions, #bitcoin-currency, #currency, #economics-theory-and-philosophy, #inflation-economics, #interest-rates, #internal-sub-only-nl, #international-trade-and-world-market, #united-states-economy, #united-states-politics-and-government, #us-dollar-currency

World Bank Warns Pandemic Will Slow Economic Growth in 2022

Global growth is expected to slow to 4.1 percent this year, from 5.5 percent in 2021, a projection underscores the stubborn nature of the public health crisis.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #malpass-david, #third-world-and-developing-countries, #united-states-economy, #world-bank

Economists Pin More Blame on Tech for Rising Inequality

Recent research underlines the central role that automation has played in widening disparities.

#acemoglu-daron, #antitrust-laws-and-competition-issues, #artificial-intelligence, #computers-and-the-internet, #economics-theory-and-philosophy, #income-inequality, #innovation, #labor-and-jobs, #productivity, #united-states-economy, #wages-and-salaries

Holding Pundits Accountable for Covid and Inflation

Writers and experts should be transparent about what they got wrong.

#coronavirus-omicron-variant, #united-states-economy

Biden Comes Out Swinging Against Republicans as His Agenda Stalls

The president pledged to use all of the powers of his office to thwart Republicans still under the thumb of Donald J. Trump.

#american-families-plan-2021, #biden-joseph-r-jr, #democratic-party, #midterm-elections-2022, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

December Jobs Report: U.S. Added 199,000 Jobs

The gain of 199,000 was the weakest of the year, but not for lack of demand: The unemployment rate fell to 3.9 percent, and wages increased.

#coronavirus-omicron-variant, #federal-reserve-system, #hiring-and-promotion, #inflation-economics, #labor-and-jobs, #part-time-employment, #unemployment, #united-states-economy, #wages-and-salaries

High Inflation May Not Disappear in 2022

The next few months will be unusually murky.

#economics-theory-and-philosophy, #inflation-economics, #internal-sub-only-nl, #international-trade-and-world-market, #renting-and-leasing-real-estate, #united-states-economy

Fed Officials Discussed Raising Rates Sooner and Faster, Minutes Show

Minutes from the Federal Reserve’s December meeting show that officials are contemplating when and how quickly to lift interest rates.

#federal-reserve-system, #inflation-economics, #interest-rates, #united-states-economy

Supply Chain Woes Prompt a New Push to Revive U.S. Factories

Companies are testing whether the United States can regain some of the manufacturing output it ceded in recent decades to China and other countries.

#america-knits, #coronavirus-2019-ncov, #factories-and-manufacturing, #international-trade-and-world-market, #labor-and-jobs, #relocation-of-business, #southern-states-us, #supply-chain, #united-states-economy

2021’s Overlooked Economic Recovery

A closer look at a recovery for the record books.

#american-rescue-plan-2021, #economics-theory-and-philosophy, #inflation-economics, #internal-sub-only-nl, #international-trade-and-world-market, #reagan-ronald-wilson, #supply-chain, #unemployment, #united-states-economy

More Workers Quit Than Ever in November as U.S. Job Openings Remain Near a Record.

Government data for November shows the continuing disruption of the coronavirus in the labor market.

#coronavirus-2019-ncov, #hiring-and-promotion, #labor-and-jobs, #labor-department-us, #unemployment, #united-states-economy, #wages-and-salaries

As Omicron Cases Rise, Companies Rethink Return-to-Office Plans

Some businesses are changing their vaccination policies to require booster shots, while others are prioritizing coronavirus tests.

#coronavirus-2019-ncov, #coronavirus-omicron-variant, #coronavirus-return-to-office, #tests-medical, #united-states-economy, #vaccination-and-immunization

Here Are 10 of the Worst Predictions About 2021

Bitcoin, Tesla, the Suez Canal, the Mars helicopter — people got a lot wrong.

#coronavirus-2019-ncov, #electric-and-hybrid-vehicles, #inflation-economics, #internal-sub-only-nl, #stimulus-economic, #unemployment, #united-states-economy

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

Child Tax Credit’s Extra Help Ends, Just as Covid Surges Anew

A pandemic benefit that many progressives hoped to make permanent has lapsed in a congressional standoff. Researchers say it spared many from poverty.

#american-rescue-plan-2021, #biden-joseph-r-jr, #child-tax-credits-and-stipends, #children-and-childhood, #manchin-joe-iii, #poverty, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government

Fed’s Moves in 2022 Could End the Stock Market’s Pandemic Run

Shares soared as interest rates stayed low and stimulus programs helped the economy. But expected changes could make investors wary.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-reserve-system, #inflation-economics, #interest-rates, #nasdaq-stock-market, #new-york-stock-exchange, #sp-dow-jones-indices, #stocks-and-bonds, #supply-chain, #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

The Missing Data in the Inflation Debate

Until we know how price spikes affect the poor, we won’t see their real impact.

#consumer-price-index, #income, #income-inequality, #inflation-economics, #interest-rates, #powell-jerome-h, #united-states-economy

What Social Trends Told Us About the American Economy in 2021

“Hard pants,” R.T.O. and boomer burnout made for an eventful second pandemic year. They also taught us about the economic future.

#baby-boomers, #consumer-behavior, #coronavirus-2019-ncov, #coronavirus-return-to-office, #generation-x, #generation-z, #inflation-economics, #labor-and-jobs, #millennial-generation, #shutdowns-institutional, #supply-chain, #travel-and-vacations, #united-states-economy, #wages-and-salaries, #workplace-environment

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

U.S. Effort to Combat Forced Labor Targets Corporate China Ties

The Biden administration is expected to face scrutiny as it decides how to enforce a new ban on products made with forced labor in the Xinjiang region of China.

#biden-joseph-r-jr, #china, #cotton, #embargoes-and-sanctions, #factories-and-manufacturing, #forced-labor, #global-warming, #house-of-representatives, #human-rights-and-human-rights-violations, #international-trade-and-world-market, #labor-and-jobs, #law-and-legislation, #senate, #solar-energy, #supply-chain, #uighurs-chinese-ethnic-group, #united-states-economy, #united-states-international-relations, #united-states-politics-and-government, #war-crimes-genocide-and-crimes-against-humanity, #xinjiang-china

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

As Workers Gain Pay Leverage, Nonprofits Can’t Keep Up

Schools and social assistance agencies face staffing shortages as they compete with businesses able to raise wages — and services are suffering.

#coronavirus-2019-ncov, #education-k-12, #federal-aid-us, #finances, #government-contracts-and-procurement, #hiring-and-promotion, #labor-and-jobs, #nonprofit-organizations, #shortages, #united-states-economy, #wages-and-salaries

Joe Manchin Just Did Democrats a Favor on Build Back Better

The Democrats have to stop playing games with expiration dates and do fewer things better. Thanks to Manchin, maybe they finally will.

#american-families-plan-2021, #biden-joseph-r-jr, #democratic-party, #manchin-joe-iii, #national-debt-us, #united-states-economy, #united-states-politics-and-government

How Do We Avoid the Next Debt Limit Debacle?

Congress must ensure the issue cannot be used as a tool of partisan politics.

#national-debt-us, #united-states-economy, #united-states-politics-and-government

How the 2020s Economy Could Resemble the 1980s

It depends on whether Jerome Powell at the Fed can pull a reverse Paul Volcker.

#federal-reserve-system, #inflation-economics, #powell-jerome-h, #reagan-ronald-wilson, #united-states-economy, #volcker-paul-a

What If the Fed Is Wrong About Inflation?

Will we revisit that 1980s show?

#economics-theory-and-philosophy, #federal-reserve-system, #inflation-economics, #internal-sub-only-nl, #powell-jerome-h, #united-states, #united-states-economy, #volcker-paul-a

Democrats Find Urgent New Reasons to Worry About Latino Voters

Two reports shed light on the issues driving Hispanic voters and why their support of the Democratic Party is eroding.

#democratic-party, #hispanic-americans, #polls-and-public-opinion, #presidential-election-of-2020, #united-states-economy, #united-states-politics-and-government, #voting-and-voters

Inflation Keeps Getting Worse. But Can the Fed Really Rein It In?

Higher interest rates could put a cap on rising costs, but it could also make the economy worse for workers.

#american-families-plan-2021, #biden-joseph-r-jr, #build-back-better, #debatable, #federal-reserve-system, #inflation-economics, #powell-jerome-h, #united-states-economy

The Year of Inflation Infamy

Maybe the real takeaway should be how little we know about where we are in this strange economic episode.

#american-rescue-plan-2021, #consumer-behavior, #consumer-price-index, #coronavirus-2019-ncov, #economic-conditions-and-trends, #inflation-economics, #interest-rates, #unemployment, #united-states-economy

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

Fed Could Raise Rates 3 Times in 2022, Speeds End of Bond-Buying

Federal Reserve officials suggested as many as three interest rate increases in 2022 as the economy heals and inflation persists.

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

What Causes Inflation and Should I Worry About It?

What is inflation, why is it up, and who does it hurt? A run through common questions about the ongoing price burst.

#consumer-price-index, #federal-reserve-system, #hitler-adolf, #income-inequality, #inflation-economics, #interest-rates, #onion-the, #real-estate-and-housing-residential, #savings, #shortages, #united-states, #united-states-economy, #wages-and-salaries, #weimar-germany

Biden’s China Dilemma: How to Enforce Trump’s Trade Deal

The Biden administration must decide whether to enforce a Trump-era trade deal that has not fulfilled its promise.

#agriculture-and-farming, #biden-joseph-r-jr, #china, #embargoes-and-sanctions, #international-trade-and-world-market, #trump-donald-j, #united-states-economy

Jobless for a Year? That Might Be Less of a Problem Now.

People who were out of work for a while have typically found it much harder to get a job. The pandemic may have changed how employers view people who have been unemployed for months or years.

#careers-and-professions, #coronavirus-2019-ncov, #employment-agencies, #hiring-and-promotion, #human-resources, #labor-and-jobs, #layoffs-and-job-reductions, #recession-and-depression, #shortages, #unemployment, #united-states-economy

Behind Kentucky’s Tornado Recovery Plan

On states that bite the hand that feeds them.

#economic-conditions-and-trends, #economics-theory-and-philosophy, #federal-aid-us, #federal-taxes-us, #internal-sub-only-nl, #international-trade-and-world-market, #kentucky, #paul-rand, #united-states-economy, #urban-areas

The Fed Meets Amid Faster Inflation and Prepares to React

The Federal Reserve could announce plans to cut economic support faster, and may signal 2022 rate increases, at its Dec. 14-15 meeting.

#coronavirus-2019-ncov, #federal-reserve-system, #inflation-economics, #interest-rates, #labor-and-jobs, #powell-jerome-h, #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