Another Key Inflation Index Hits 40-Year High

Inflation continues to soar throughout the U.S., with the Personal Consumption Expenditures (PCE) price index increasing to the highest level in almost 42 years while consumer spending cools, the Bureau of Economic Analysis (BEA) reported Thursday.

The PCE, one of the Federal Reserves’ key inflation indicators when it aims for a 2% annual inflation rate, surged 5.7% in November on a year-over-year basis, a 0.6% jump from October, the BEA reported. November’s figure is the highest since 1982.

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Holiday Blues: Economic Challenges Threaten Season with Delays, Shortages and Price Hikes

A series of economic struggles that have grown increasingly worse this year will likely have a significant impact on the holiday season, many economic experts predict.

After President Joe Biden gave remarks from the White House this week, one reporter called out, “Will Christmas presents arrive on time, sir?” The president did not respond to that question or the flurry of others as he walked away from the podium.

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U.S. Retail Sales Jump in January in Positive Sign for Economy

The U.S. retail sales were much higher than economists projected in January, ending a multi-month streak of underperformance, according to the Commerce Department.

Retail sales increased 5.3% and totaled $568.2 billion in January, according to the Department of Commerce report released Wednesday. Economists had predicted retail sales to increase by 1.2%, The New York Times reported.

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The Department of the Interior Will Pay 1,900 Local Governments $553 Million in ‘Lost Tax Revenue’ in 2018

federal lands

by Daniel Di Martino   Over 1,900 local governments received $553 million from the Department of Interior this year to compensate them for lost tax revenue for federal lands that cannot be developed in their territory. These payments are the consequence of more than 640 million acres of land, which amounts to 28 percent of…

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