Treasury Secretary Janet Yellen and members of the Biden administration are out in force, making the case that the economy is strong and not headed toward a recession. The Commerce Department will release initial GDP calculations Thursday, and some economists predict it will reveal a contraction for the second quarter in a row. “This is…

Two major social media platforms appeared to be struggling from a revenue standpoint, as Snapchat reported its weakest sales growth ever and Twitter reported a loss of $270 million in quarterly reports. The losses can be partially explained by uncertainty about the U.S. economy, with social media platforms taking a big hit in ad revenue.…

The electric vehicle (EV) industry continued to grow this week, with new competition from Ford and Chevy entering the market and existing powerhouse Tesla growing its revenue. Chevy has unveiled a new electric SUV arriving in 2024. It will be able to go 320 miles on a full charge. “What’s significant is that Chevrolet is…

Mass shootings have a measurable negative impact on the local economy, according to recent testimony before the House Financial Services Committee. After a city sees a mass shooting, it can experience up to a 2% increase in unemployment and 3% decrease in property values. School shootings cause up to an 8% decline in property values…

Government data shows the U.S. economy shrank the first six months of 2022. With slowing growth, a bear market and ever-tightening Federal Reserve monetary policies, recession warning signs are flashing in many areas of the economy. Current conditions have experts debating whether the U.S. is heading toward a recession or is already in one. At…

As COVID-19 continues to challenge economies around the globe, China’s economy has cooled while India could become the world’s fastest growing economy. China released data showing the country’s economy slowed sharply in the second quarter, largely due to a zero-COVID policy and lockdowns. China’s gross domestic product grew 0.4% from April to June 2022. It had grown almost 5% in…

In front of the beautiful backdrop of the Bavarian Alps, G7 leaders announced a new investment plan called the Partnership for Global Infrastructure (PGII). The goal is to invest $600 billion over the next five years in lower and middle income countries around the world, with the U.S. pledging $200 billion. The ambitious plan includes…

The U.S. hasn’t seen inflation this high since 1981, raising the possibility the Federal Reserve may do something it hasn’t done since then to tame it: That is to raise its benchmark interest rate by a full percentage point at one time. The possibility is being penciled in after June’s 9.1% consumer price report. Atlanta…

According to the Labor Department’s Consumer Price Index (CPI) report for the month of June, prices increased on both a monthly and annual basis, by 1.3% and 9.1%, respectively. As seen in previous months, year-to-year inflation set another 40+-year high in June, going all the way back to 1981. The record inflation continues to be…

The single biggest pipeline bringing Russian gas to Germany is shut down. Russia said Nord Stream 1 needs maintenance, but some German leaders said to expect some “hiccups” along the way. The Nord Stream 1 pipeline supplies natural gas to Germany. It shuts down annually for maintenance. This year, the maintenance window runs through July…