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October 18, 2021

economic

Sharp surge in energy prices threatens economic recovery and is already slowing growth

CNBC
CNBC – For more and to sign up click here Energy prices are surging, and the economy is already feeling the pinch of higher fuel costs though it is far from stalling out. There is an unusual coincidence of much higher oil, natural gas and coal prices, combined with other......

House Speaker Nancy Pelosi suggests Democrats could cut major pieces of Biden’s economic plan

CNBC
CNBC – For more and to sign up click here House Speaker Nancy Pelosi (D-CA) speaks during an event about the Build Back Better Act and climate crisis at the U.S. Capitol in Washington, U.S., September 28, 2021. Elizabeth Frantz | Reuters Democrats could slash entire pieces of President Joe......

5 charts show Russia’s economic highs and lows under Putin

CNBC
CNBC – For more and to sign up click here Russian President Vladimir Putin attends a meeting with U.S. President Joe Biden at Villa La Grange in Geneva, Switzerland June 16, 2021. SPUTNIK | via REUTERS Love him or loathe him, there’s no doubt that Russian President Vladimir Putin has......

Goldman cuts forecast for U.S. economic growth in 2021 and 2022

Reuters
A construction worker climbs above a line of fencing at the site of a large public infrastructure reconstruction project of an elevated roadway and bridges in upper Manhattan in New York City, New York, U.S., April 22, 2021. REUTERS/Mike Segar Oct 10 (Reuters) – Goldman Sachs cut its U.S. economic......

Economic recovery struggles under labor shortage

CBS News
CBS News – For more and to sign up click here Economic recovery struggles under labor shortage – CBS News Watch CBSN Live The economy added 300,000 fewer jobs last month than anticipated, and while the unemployment rate fell below five percent, there were fewer job seekers, leading some companies......

Manchin breaks with party leaders over strategy on debt ceiling and Biden’s economic package

CNN
USA TODAY – For more and to sign up click here The West Virginia Democrat, who holds a pivotal vote in the 50-50 Senate, indicated to CNN that he disagrees with the strategy top Democrats are pursuing in the standoff with Republicans over raising the national debt limit. Manchin said......

Congress faces 3 major economic deadlines before the year ends: Debt limit, infrastructure and government funding

CNBC
CNBC – For more and to sign up click here A man walks past the U.S. Capitol building as a government shutdown looms in Washington, September 30, 2021. Leah Millis | Reuters The flurry of activity in Congress will not wane soon. Lawmakers have spent their early fall jumping among......

Biden to press for infrastructure packages in Michigan as economic agenda stalls on Capitol Hill

CNN
USA TODAY – For more and to sign up click here A White House official told CNN that Biden will argue both components of his Build Back Better agenda — a $1.2 trillion infrastructure package and a larger $3.5 trillion bill to expand the social safety net — are essential......

Whitmer wants ‘more resources’ for Michigan’s economic development arm

Detriot News
Detroit News – For more and to sign up click here Gov. Gretchen Whitmer encouraged the Michigan Legislature on Tuesday to work with her to increase the Michigan Economic Development Corporation’s “resources” and “procedural and legal tools” in a bid to attract more businesses.  The Democratic governor in her letter cited Ford......

Explainer: Germany’s next government faces three big economic challenges

Reuters
BERLIN, Oct 5 (Reuters) – Chancellor Angela Merkel has steered Germany through many crises over the past 16 years, but she has also left behind a mixed legacy and failed to tackle some deep structural problems in Europe’s largest economy. Despite a “golden decade” of uninterrupted growth and budget surpluses,......

U.S. will use all steps necessary to defend its economic interests against China, top trade official says

CNBC
CNBC – For more and to sign up click here WASHINGTON – U.S. Trade Representative Katherine Tai slammed China’s unfair trade practices and vowed to protect U.S. economic interests in a speech Monday, adding that the Biden administration will rally allies in order to push back on the world’s second-largest economy. “Our......

Op-ed: Biden needs to act now to shore up economic foreign policy to restore confidence in U.S. leadership

CNBC
CNBC – For more and to sign up click here The Biden administration should act to correct its post-Afghanistan foreign policy malaise by embracing economic agreements that rally its global partners and restore confidence in U.S. leadership.   That effort should begin, but not end, with an embrace and expansion......

How Biden’s $3.5 trillion economic plan compares to LBJ’s Great Society and FDR’s New Deal

CNBC
CNBC – For more and to sign up click here Anna Moneymaker | Getty Images News | Getty Images President Joe Biden’s $3.5 trillion economic agenda — and the social spending it would usher in — has few parallels in modern U.S. history. The New Deal era of the 1930s......

Economic confidence drops to levels last seen in January

USA TODAY – For more and to sign up click here Dominick Mastrangelo Consumer confidence in the United States has dropped to its lowest level since the beginning of the year, according to a new survey.  Gallup’s latest Economic Confidence Index, published Wednesday, had a rated score of -21, down from -12 in......

Biden to meet with centrist Sens. Manchin and Sinema with Democrats’ sprawling economic agenda at stake

CNBC
CNBC – For more and to sign up click here U.S. President Joe Biden meets virtually with governors, mayors, and other state and local elected officials to discuss the bipartisan Infrastructure Investment and Jobs Act, in the South Court Auditorium at the White House in Washington, August 11, 2021. Evelyn......

Fed officials say they see a pullback in economic support measures even with inflation cooling

CNBC
CNBC – For more and to sign up click here At least three Federal Reserve officials said Monday they are ready to pull back on their economic support measures even though they don’t see a threat from inflation. Speaking at separate engagements, Fed Governor Lael Brainard and regional Presidents John......

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