In July, U.S. consumer spending kept pace with core inflation, with both rising at 0.3 percent from June. It was the largest monthly gain in spending since April, according to data from the Bureau of Economic Analysis (BEA).
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S&P REACHES RECORD AS WARNING SIGNS GROW
The Standard & Poor’s 500 stock index touched another record high last week amid growing indicators that the bull might be tiring.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Layoffs increased nearly 40 percent in August, with 85,979 positions eliminated in the U.S., according to job placement firm Challenger, Gray and Christmas.
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HOLD YOUR BREATH: HUMANS BREATH IN UP TO 68,000 MICROPLASTICS A DAY, STUDY SAYS
A newly released study found that humans breathe in an average of 68,000 microplastics a day, which can enter and remain in the lungs, according to The Guardian.
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U.S. SELLS MORE MISSILES TO UKRAINE THROUGH EUROPE
The U.S. State Department approved the sale of roughly $825 million in missiles for Ukraine to be purchased by European allies under a new deal that the Trump administration says makes other countries carry their weight as the war approaches its fourth year with no end in sight.
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BILLIONAIRES PAY LOWER EFFECTIVE TAX RATE THAN WE THE PEOPLE OF SLAVELANDIA, STUDY SAYS
U.S. billionaires paid a lower effective tax rate than other taxpayers in the country from 2018 to 2020, according to a newly released research paper from the National Bureau of Economic Research.
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ECONOMISTS WARN OF IMPACT OF TRUMP’S ATTACKS ON THE FEDERAL RESERVE
Economists surveyed by the Financial Times said the financial markets have not “fully priced in” the issues that could arise from U.S. President Donald Trump’s threats against the central bank, which may result in the bank becoming a “puppet of the government.”
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TRUMP’S FAMILY SEES NEW CRYPTO WINDFALL AFTER BITCOIN-MINING COMPANY’S LISTING
President Donald Trump billed himself as the country’s first pro-crypto leader, and his sons are reaping the benefits—this time with a bitcoin mining company that was just listed on the Nasdaq Stock Market last week that saw its shares pop by about 17 percent—after jumping by as high as 110 percent on the day.
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TRUMP GROWING FRUSTRATED WITH PUTIN OVER UKRAINE WAR
U.S. President Donald Trump has been growing increasingly frustrated with Russian President Vladimir Putin over the lack of progress in a ceasefire in Ukraine even after last month’s summit in Alaska.