Twitter Chief Executive Officer Jack Dorsey issued a warning about the economy over the weekend as Treasury Secretary Janet Yellen on Oct. 24 said the United States isn’t losing control of inflation. “Hyperinflation is going to change everything. It’s happening,” Dorsey wrote on Twitter. “It will happen in the U.S. soon, and so the world.”… (Excerpts from the Epoch … Continued
The United States’ largest container port now has a record backlog of ships and containers, according to Gene Seroka, the executive director of the Port of Los Angeles. “We have about two weeks’ worth of work sitting at anchor right now,” Seroka told CNN, adding that port workers are currently trying to prioritize the cargo that needs to … Continued
Nikki Haley, former ambassador to the United Nations and governor of South Carolina, spoke about how she moved people in South Carolina from welfare to work. She believed that the people on welfare didn’t want to be on welfare. She asked businesses to hire a welfare recipient for 10 weeks and train them, and she’d … Continued
A growing number of school districts have said that supply chain bottlenecks have forced them to suspend services or food items. A spokesperson for Denver Public Schools (DPS), Theresa Hafner, said Sunday that the district is “struggling to receive enough milk to serve to every child at breakfast and lunch every day,” saying that parents … Continued
Uncomfortably high inflation will grip the U.S. economy well into 2022, as constrained supply chains keep upward pressure on prices and, increasingly, curb output, according to economists surveyed this month by The Wall Street Journal. The economists’ inflation projections are up dramatically from July, while short-term growth outlooks are lower. Economists on average see inflation … Continued
As the Democrats who control Washington reshape a multi-trillion-dollar package that would expand the social safety net and boost green energy, a key question hanging over their efforts is what impact it will have on the economy. A $1.2 trillion bipartisan infrastructure deal passed by the Senate earlier this year and a reconciliation bill Democrats are trying to … Continued
The disruptions that are currently snarling supply chains across the globe and the United States will “certainly” continue into next year, said Transportation Secretary Pete Buttigieg on Sunday. Last week, some industry groups and companies said that the White House won’t be able to alleviate supply shortages and bottlenecks before Christmas arrives, potentially causing more political damage … Continued
In this episode of Star Parker’s Power, Poverty, & Politics podcast, she interviewed former Ambassador to the United Nations and Governor of South Carolina Nikki Haley. Haley, who gave a speech at CURE’s annual policy summit shortly after the podcast, discussed her early life in the state, the church shooting in Charleston, and removing the Confederate flag … Continued
Compared with just one month ago, consumers are paying slightly more for most goods and services. Compared with a year ago, however, they’re paying significantly more, according to Labor Department data released this week. The Labor Department reported that the consumer price index, a key inflation gauge that measures how much Americans pay for goods and … Continued
Despite President Biden’s announcement Wednesday that the severely backlogged Port of Los Angeles would expand into 24/7 operating hours—similar to the Port of Long Beach—port officials are saying the backlog will continue until the summer of 2022. Noel Hacegaba, deputy executive director of the Port of Long Beach, said expanding the ports’ operating hours will not impact the supply … Continued
Prices paid by U.S. consumers rose in September by more than forecast, resuming a faster pace of growth and underscoring the persistence of inflationary pressures in the economy. The consumer price index increased 0.4% from August, according to Labor Department data released Wednesday. Compared with a year ago, the CPI rose 5.4%, matching the largest … Continued
In this episode of Star Parker’s Power, Poverty, & Politics podcast, she said that contrary to what we hear from Democrats and their “left-leaning unionized media buddies,” Americans continue to move up economically and earn more money. What about people who aren’t moving up? The reasons are entirely in their control through personal decisions and personal responsibility. … Continued
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