A newly released poll said last week that a majority of Americans from both political parties believe that President Donald Trump is losing the battle against inflation, with 57 percent of voters agreeing that they are quickly losing their purchasing power thanks to high prices.
The long-delayed report on September’s U.S. inflation rate showed core prices rose at an annual pace of 2.8 percent, 0.2 percent higher than in August and just below the 2.9 percent annual rate booked the month before.
President Donald Trump’s new angle of attack after watching Democrats win the off-year election last month, based largely on concerns about the economy and prices, and claimed last week that “the word affordability” is nothing more than a “Democrat hoax.”
“It feels like everything is closing in around us,” Anissa Camacho, a 26-year-old florist in Bethlehem, Penn., told the Financial Times.
“Life felt more doable a year and a half ago,” college communications officer Holly Frew said in a Wall Street Journal interview last week.
As the European Central Bank (ECB) hiked its interest rates from July 2022 to fight inflation, lower-income households suffered more than higher earners, the bank’s economists reported in a new study.
The U.S. labor market might appear healthy, with a jobless rate near historic lows. However, once statistical overcounting is adjusted out of the data, “job creation is pretty close to zero,” U.S. Federal Reserve chair Jerome Powell said in a 15 November press briefing.
Retailers will hire 265,000 to 365,000 seasonal workers this holiday season, the fewest since at least 2010, according to the National Retail Federation (NRF). Last year, stores took on 422,000 temps as holiday help.
Americans’ outlook on the nation’s economy is within reach of a record low set during the COVID War, the University of Michigan’s twice-monthly survey of consumer sentiment discovered.
Last week, Canada’s central bank cut its key rate for the fourth time this year, dropping it to 2.25 percent and announcing that it will defer any future rate cuts indefinitely.