Tag Archives: America

Markets should be wary of high inflation and the potential spread of new COVID variants in 2022, a new Bank of America (BAC) report warns. “Future COVID waves are the biggest downside risk,” the report noted. “On the upside, the supply-side wakes up to meet the gains in demand.” Authored by several Bank of America Global Research economists, the report mainly focuses on the various threats to the global economy in 2022 and beyond. Among these economic risks are high inflation rates, the… Source link

Inflation reached a three-decade high in October as some workers saw their wages rise, particularly younger workers. According to the Atlanta Fed’s Wage Growth Tracker, a measure of the nominal wage growth of individuals, workers in the 16-to-24 age range are seeing median wage growth accelerate much quicker than the rest of American workers, as seen below in the green line. As of September 2021, the overall 12-month moving average of median wage growth increased by 3.6%. Those in the 25-to-54… Source link

President Donald Trump signs an executive order to withdraw the U.S. from the 12-nation Trans-Pacific Partnership (TPP) trade pact agreed to under the Obama administration in the Oval Office of the White House in Washington, January 23, 2017. (AP Photo/Evan Vucci, File) Remember the Trans-Pacific Partnership? A few years back, the TPP morphed form a wonky trade deal among the United States and 11 other Pacific nations into a litmus test of fealty to the American working class. As a 2016… Source link

SAN FRANCISCO, CALIFORNIA – SEPTEMBER 16: A pedestrian walks by a help wanted sign posted in the window of hardware store on September 16, 2021 in San Francisco, California. Unemployment claims inched up to 332,000 from a pandemic low of 312,000 a week before. (Photo by Justin Sullivan/Getty Images) Almost one-third of all working-age men in America aren’t doing diddly-squat. They don’t have a job, and they aren’t looking for one either. One-third of all working-age men. That’s almost… Source link

The GameStop phenomenon hit corporate America in the coffers this week. On Sept. 16, MassMutual paid a $4 million fine to settle a litigation with Massachusetts securities regulators, according to a Wall Street Journal report.  The financial-services company got busted for not properly supervising Keith Gill, the 34-year-old MassMutual employee and YouTuber, who went by the alias “Roaring Kitty” on social media. Gill gained a cult-like following among retail investors on Reddit for posting… Source link

This article was first featured in Yahoo Finance Tech, a weekly newsletter highlighting our original content on the industry. Get it sent directly to your inbox every Wednesday by 4 p.m. ET. Subscribe Last month, T-Mobile (TMUS), the nation’s largest wireless carrier, was hacked by a 21-year-old American living in Turkey named John Binns. In an interview with The Wall Street Journal, Binns said he spent about a week rummaging through the company’s servers. T-Mobile has since confirmed the… Source link

Governments can’t stop cryptocurrencies, but they can make it much harder to access them. So it would make sense that unfriendly government policies in the world’s largest economies would play a role in driving down the price of bitcoin. As a case in point, in the few days after China reiterated its crypto crackdown in May, bitcoin at one point plunged by as much as 30%. The drop was another reminder that when China speaks, the market listens. The U.S., it seems, not so much.  This month,… Source link

A new study argues that skyrocketing college costs are a result of university leadership not prioritizing college affordability over profit. The report by the American Council of Trustees and Alumni (ACTA), which looked at data from more than 1,500 four-year public and private, nonprofit colleges and universities, found that even though institutional spending has risen over the years alongside tuition, four-year graduation rates have not kept up. “The spending habits of higher education have… Source link

By Janet Yellen, U.S. Secretary of the Treasury For more than a generation, America has underinvested in the public goods that are the foundation of our economic growth: infrastructure, education, childcare. Our funding for them has been on a downward trajectory for nearly forty years. In 2019, it was about three-quarters of what it was in the 1970s. On Tuesday, the United States Senate began to turn the page on this unfortunate chapter in our economic history and, with two pieces of… Source link

The stock market continues to ignore worsening headlines on the COVID-19 Delta variant front and climb to fresh records.  But given a shift in tone lately from corporate America, perhaps investors should be on high alert. Companies that had been bullish on the economic recovery from the depths of the pandemic are becoming increasingly cautious as the variant spreads. Here are three household names that have recently warned of a financial impact from the COVID-19 Delta variant. Investors may… Source link