Category: Macroeconomic

September 19, 2022

As Americans watch their grocery bills climb, President Joe Biden is putting his best possible spin on the highest inflation since 1982. In an interview with CBS’s Scott Pelley that aired on Sunday’s “60 Minutes,” Biden was asked what he […]

September 2, 2022

The U.S. dollar, as measured by the DXY index, maintained a slightly bearish bias after the NFP report crossed the wires despite the U.S. Treasury yields’ attempt to perk up. However, the greenback could resume its ascent soon as the […]

August 25, 2022

In a statement on Wednesday following President Biden’s announcement on student debt relief, House Speaker Nancy Pelosi hailed the move by the executive branch: “President Biden’s bold action is a strong step in Democrats’ fight to expand access to higher […]

August 17, 2022

Sen. Joe Manchin (D-W.Va.) said Tuesday that the Inflation Reduction Act that he voted for, which was touted as a way to reduce inflation, won’t “immediately” reduce inflation. In a letter to the Congressional Budget Office on July 28, Sen. […]

August 10, 2022

The federal government collected a record $4,104,725,000,000 in total taxes in the first ten months of fiscal 2022 (October through July), according to the Monthly Treasury Statement. That was up $503,787,000,000—or 13.9 percent—from the then-record $3,600,938,000,000 (in constant July 2022 […]

August 2, 2022

The Democrats’ $769 billion social spending bill is “a bad bill” that will “do nothing but draw the economy even further into the ground,” Rep. David Rouzer (R-N.C.) said Tuesday. “This is a bad bill. This is a really bad […]

August 1, 2022

Sen. Joe Manchin, a West Virginia Democrat, infuriated Democrats by refusing to pass the Biden administration’s multi-trillion tax-and-spend “Build Back Better” agenda. At the time, he said it would stoke inflation. But now he’s agreed to approve elements of that […]

July 28, 2022

The U.S. economy contracted for the second quarter in a row in the second quarter of 2022, according to data released today by the Bureau of Economic Analysis. In the January-through-March period, real Gross Domestic Product (GDP) dropped by 1.6 […]

July 25, 2022

House Rep. Chip Roy (R-Tex.) and Rep. Ed Perlmutter (D-Colo.) engaged in a heated exchange about the slight fall in U.S. oil prices during a House Rules Committee meeting on July 18, with Roy exclaiming that $4/gallon gasoline was nothing […]

July 18, 2022

The federal government hauled in a record $3,835,390,000,000 in total taxes in the first nine months of fiscal 2022 (October through June), according to the Monthly Treasury Statement. That was up $502,438,730,000—or 15.07 percent—from the then-record $3,332,951,270,000 (in constant June […]

July 15, 2022

The US consumer remains strong as indicated by this morning’s release of US retail sales data for the month of June. That data point came in at 1% versus an expectation for .8%. And last month’s -.3% that caught so […]

July 14, 2022

Last December, when inflation was 6.8%, President Joe Biden reassured Americans that inflation had peaked – but, yesterday, the Bureau of Labor Statistic (BLS) reported prices rose 9.1% in June. The Consumer Price Index (CPI), which is an indicator of […]

July 13, 2022

Small-bank executives overwhelmingly think the U.S. economy will fall into a recession by 2023. In an online survey conducted June 21-30, a whopping 96% of community bank leaders said they expect an economic decline to strike by the end of […]

June 30, 2022

Two years short of the target date for every NATO ally to devote at least two percent of its national GDP to defense, only nine of the 30 are currently doing so. But NATO Secretary-General Jens Stoltenberg said Wednesday the […]

June 28, 2022

Russia has defaulted on its sovereign debt for the first time in over a hundred years, due to sanctions that restrict their access to international banking systems. On May 27, Russia was due to pay approximately one hundred million dollars […]

June 20, 2022

“We are going to take action. We’re going to prioritize. We’re going to make clear that tackling inflation is our top economic priority,” said Brian Deese, one of President Biden’s top economic advisers, on Sunday. Deese appeared on several Sunday […]

June 14, 2022

Prices for shelter, gas and food all rose in May following an April decline, with overall inflation increasing rapidly past expectations, damping hopes that inflation had peaked and intensifying fears of a recession. Mason’s comments come on the heels of […]

May 23, 2022

Don’t say recession. Call it “transition,” Brian Deese, director of the White House National Economic Council, told “Fox News Sunday.” Host Martha MacCallum asked Deese if he agrees with those who say the United States is heading into recession in […]

May 11, 2022

President Joe Biden does not believe his $1.9 trillion COVID relief package, which was signed into law last year, played any role in the increase in inflation, White House Press Secretary Jen Psaki said Tuesday. Shortly after the president’s speech […]

May 6, 2022

The number of people working for government in the United States grew by 22,000 in April, according to the employment report released today by the Bureau of Labor Statistics. In March, there were 22,167,000 people employed by government in this […]