US Budget Deficit Shrinks $1.6 Trillion on Record Tax Surge

US Budget Deficit Shrinks $1.6 Trillion on Record Tax Surge

The US federal government’s budget deficit has shrunk by some $1.57 trillion so far this fiscal year, driven by record receipts from a strong economy and a slowdown in spending as pandemic-era programs fade. The deficit dropped to $360 billion over the seven months from October through April 2022, according to Treasury Department data released […]

Prices in US Outstrip Forecasts in Sign of Inflation Persisting

Prices-in-US-Outstrip-Forecasts-in-Sign-of-Inflation-Persisting

US consumer prices rose by more than forecast in April, indicating inflation will persist at elevated levels for longer and keeping the Federal Reserve on the path of aggressive interest-rate hikes. The core consumer price index, which excludes food and energy, increased 0.6% from a month earlier and 6.2% from April 2021, according to Labor […]

Inflation Got You Down? At Least You Don’t Live in Argentina.

Inflation Got You Down? At Least You Don’t Live in Argentina.

Shopkeeper Jonathan Faez has a word of advice to people around the world obsessing about inflation: Chill out. “I have friends in the United States and Spain and they’re telling me they’re going crazy with their annual inflation of 5% or 7%,” says Mr. Faez, owner of a lingerie store. “Here, we reach 4% almost […]

Europe Is Still Buying Russian Oil, but It’s Now Harder to Track

Europe is still buying russian oil

WSJ Login: Russia ramped up oil shipments to key customers in recent weeks, defying its pariah status in world energy markets. One increasingly popular method for delivery: tankers marked “destination unknown.” Oil exports from Russian ports bound for European Union member states, which historically have been the biggest buyers of Russian crude, have risen to […]

Fed’s Powell Seals Expectations of Half-Point Rate Rise in May

Fed’s Powell Seals Expectations of Half-Point Rate Rise in May

Federal Reserve Chairman Jerome Powell signaled the central bank was likely to raise interest rates by a half percentage point at its meeting next month and indicated similar rate rises could be warranted after that to lower inflation. A rate increase in May, following the Fed’s decision to lift rates from near zero by a […]

Inflation Will Continue Unless Major Changes are Done in Energy and The Food Sector

Will Inflation Fall Any Pullback Depends on These Sectors 2

First American News – Raleigh, NC Factors affecting cars, rent, energy, and other categories play roles in determining if a drop will occur To figure out where inflation is headed, don’t look at the overall economy, look under the hood Inflation surged from 2.5% in January 2021 to 7.5% in January 2022 and could edge […]