
The rising inflation rates is a key worry in the economic situation right now. With prices going up, dollars don’t go as far – it’s an interaction that threatens to derail consumer spending, the engine of the US economy. Investors got some clarity in June, however, after the latest FOMC meeting. The Fed had long kept an ‘inflation target’ of 2%; with inflation running more than double that, there was much speculation that the Fed would take an aggressive stance against it. Such a stance would ne

President Biden proposes eliminating a loophole that allows wealthy people to pass assets tax free to their children but Republican lawmakers say it will hit middle class Americans.

The Chinese Communist Party marked its centenary with tough talk by Chinese President Xi Jinping. That weighed on stocks in the region.

Amid a record number of job openings, Americans are taking their time looking for work, with only about 10% of job seekers actively searching for a new gig. The survey included both unemployed people and people who have a job. Meanwhile, as businesses say they can’t find enough workers, Republican governors in several states have cut the enhanced unemployment benefits that went into effect when the U.S. was first in the grip of the coronavirus pandemic.
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