US consumer inflation reached its highest level in more than fourdecades in May as surging energy and food costs pushed prices higher,with little indication of when the upward trend could ease. The Labor Department on… Read More »U.S. Inflation Hit 8.6% in May
The writing is on the wall, and the majority of U.S. economists agreethat the U.S. is in store of a recession next year. Year-over-year U.S. consumer price increases unexpectedly surged lastmonth to 8.6%. That means… Read More »Over two-thirds of economists believe a recession is likely to hit in 2023
US inflation accelerated to a fresh 40-year high in May, a sign thatprice pressures are becoming entrenched in the economy. That willlikely push the Federal Reserve to extend an aggressive series ofinterest-rate hikes and adds… Read More »US Inflation Quickens to 40-Year High, Pressuring Fed and Biden
WASHINGTON — The Internal Revenue Service today announced an increasein the optional standard mileage rate for the final 6 months of 2022.Taxpayers may use the optional standard mileage rates to calculate thedeductible costs of operating… Read More »IRS increases mileage rate for the remainder of 2022
Depending on your income in 2021, you may be feeling the pain ofpaying your state and federal income taxes. Some of you reading thispost may be feeling a bit more pain based on the state… Read More »5 States With The Highest State Income Tax Burdens
KEY POINTS Amid high inflation that has become the No. 1 business risk, not asingle chief financial officer surveyed by CNBC thinks a recession canbe avoided.The macroeconomic view of CFOs informs a bearish stock market… Read More »The recession will hit in the first half of 2023 and the Dow is heeded lower: CNBC CFO survey
Treasury Secretary Janet Yellen said Wednesday that tariff reductionson Chinese goods may be warranted as the White House tries to cool thehottest inflation in four decades, but said that such cuts are not a“panacea” to… Read More »Yellen says White House looking to ‘reconfigure’ China tariffs as inflation roars
The stock market has been cratering so far this year — leaving specialpurpose acquisition companies, which buy private firms in order tomake them public without the need for a traditional initial publicoffering, with difficulty finding… Read More »Wall Street’s blank-check boom has gone bust
Prices for chips and shipping containers have come off peaksCentral bankers are scrambling to snuff out soaring inflation Three of the key supply-side factors driving today’s global inflationlevels have already turned around, meaning relief could… Read More »Inflation Is Poised to Ease According to These Three Key Indicators
More than 8 in 10 Americans believe the state of the nation’s economyis poor or not so good, according to a new Wall Street Journal-NORCpoll. The poll found that just 1 percent of respondents described… Read More »Americans in a new poll deeply pessimistic about the economy