inflation
Ohioans go hungry as state sits on a huge stack of money
Some food banks are slashing the amounts of food they give people. At the same time, Ohio and many other states are sitting on enormous piles of cash, and a spokesman for Gov. Mike DeWine was vague last week when asked how the governor would like to use that money.
Biden tangles with Florida GOP Sen. Rick Scott: ‘I think the man has a problem’
WASHINGTON — President Joe Biden pledged Tuesday to make a fight against inflation his top domestic priority while rebuking Republican economic proposals he said miss the mark — zeroing in on Florida GOP Sen. Rick Scott. The president’s remarks at the White House came after Scott earlier in the day called on Biden to resign […]
Yes, US economy may be slowing, but don’t forget it’s coming off the hottest year since 1984
By D. Brian Blank, Mississippi State University The U.S. economy unexpectedly shrank in the first quarter, according to gross domestic product data released on April 28, 2022. While the reasons were technical and weren’t seen as signs of weakness, they add to worries that the U.S. might be headed for another recession as the Federal […]
U.S. Senate Republicans attack Biden on energy costs, regulations after new inflation report
Nebraska’s Deb Fischer and fellow U.S. Senate Republicans slammed President Joe Biden on Thursday for the sharp rise in consumer prices, calling for policy shifts to increase U.S. energy supply, roll back regulations and curb spending. The Bureau of Labor Statistics said Thursday the consumer price index rose nearly 8% in February over the same month in […]
Why is Ohio Secretary of State LaRose trolling Twitter on election fraud, the media, and inflation?
Curiouser and curiouser. What’s up with Ohio Secretary of State Frank LaRose blasting polarizing snark on Twitter? Just asking, as Tucker Carlson likes to say with queries dripping in fascism, e.g., what did (mass killer) Putin ever do to you? Certainly, the partisan tweets by the state’s top election officer — whose job is to […]
Ohio’s top election official slams “liberal media” over CBS Ukraine reporting
Ohio Secretary of State Frank LaRose has his hands full right now. He’s part of a seven-member commission whose struggles to come up with legislative and congressional maps have resulted in an order to explain in person why they shouldn’t be held in contempt. And in the absence of maps, the state’s top elections official […]
US cost of defending freedom in Ukraine: Higher food and gas prices, increased risk of recession
Americans may be tempted to view the war in Ukraine as an unfortunate, but far away, crisis. As an economist, I know the world is too connected for the U.S. to go unaffected. On Feb. 22, 2022, President Joe Biden warned Americans that a Russian invasion of Ukraine – and U.S. efforts to thwart or […]
Biden meets with county leaders in D.C., promotes Build Back Better plan
WASHINGTON — President Joe Biden during a Tuesday meeting with county leaders called on Congress to pass his stalled social spending package as a way to fight inflation, saying it would help with expenses families face. “Families are getting clobbered by the cost of everyday things,” Biden told members of the National Association of Counties […]
What is the Fed taper? An economist explains how the Federal Reserve withdraws stimulus
By Edouard Wemy, Clark University Tapering refers to the Federal Reserve policy of unwinding the massive purchases of Treasury bonds and mortgage-backed securities it’s been making to shore up the economy during the pandemic. The unconventional monetary policy of buying assets is commonly known as quantitative easing. The Fed first adopted this policy during the […]
Why is inflation so high? Is it bad? An economist answers 3 questions about soaring consumer prices
By William Hauk, University of South Carolina Consumer prices jumped 6.8% in November 2021 from a year earlier – the fastest rate of increase since 1982, according to Bureau of Labor Statistics data published on Dec. 10, 2021. The biggest jumps during the month were in energy, used cars and clothing. The Conversation U.S. asked […]
Why are prices so high? Blame the supply chain, and that’s the reason inflation is here to stay
Consumer prices soared in October 2021 and are now up 6.2% from a year earlier – higher than most economists’ estimates and the fastest increase in more than three decades. At this point, that may be no surprise to most Americans, who are seeing higher prices while shopping for shoes and steaks, dining at restaurants […]
Ohio’s coming minimum wage increase still falls far below 1968 state and national peak
Everyone who works full time deserves to make enough money to cover the basics. In Ohio, too many people work hard — sometimes in more than one job — but still live in poverty. Because Ohio voters took action, at least those earning the minimum wage won’t get a pay cut from inflation in 2020. […]