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The Latest Breaking News from Justin Wolfers

If Trump Stays 'Wedded To Low Rates' Idea, US Risks A Turkey-Style Inflation Horror Show: Economist Justin Wolfers Warns

Economist Justin Wolfers is warning that President Donald Trump's fixation on low interest rates could set the U.S. on a nightmarish path, one that increasingly mirrors the unrelenting inflation crisis that has gripped Turkey over the past couple of years.

Benzinga

Bernie Sanders Slams Trump's 'Big, Beautiful Bill' As A Gift For Billionaires: 'The Most Dangerous Piece of Legislation In Modern History'

Sen. Bernie Sanders (I-VT) is once again taking a shot at President Donald Trump’s budget reconciliation bill, dubbed the “One Big, Beautiful Bill.”

Benzinga

Chuck Schumer Slams GOP's 'Big, Beautiful Bill' As 'Flawed': It Guts Healthcare, Kills Jobs To Fund 'Tax Breaks For Billionaires'

Senate Minority Leader Chuck Schumer (D-N.Y.) launched a scathing attack on the Republican Party’s budget reconciliation bill, dubbed the “One Big, Beautiful Bill” for its extensive cutbacks on welfare, alongside tax breaks for the wealthy.

Benzinga

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US economy added only 12,000 jobs in October in shock pre-election drop – as it happened

Live, rolling coverage of business, economics and financial markets as non-farm payrolls numbers deliver economic surprise days before presidential election

The Guardian - UK

US VP Kamala Harris Outlines Plan To Trim Living Costs As It Remains Americans' Top Concern

US Vice President and Democratic nominee Kamala Harris plans to lower living costs through several measures, including lowering grocery prices, introducing child tax credits, and offering downpayment assistance for first-time homebuyers.

International Business Times UK

Food industry pushes back hard on Harris

Harris promised to crack down on “excessive prices unrelated to the costs of doing business” by food suppliers

Salon

Prof: Trump inflation plan will backfire

Trump's “unrealistic and undesirable" plan could blow up the economy, experts warn

Salon

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Is the economy headed for recession or a soft landing?

Are we in a recession? It seems like a straightforward question, but the data tells conflicting stories.

WEKU

The market is watching the Fed like a hawk to see when it pivots. Too bad the Fed is split on what to do

Fed official James Bullard says interest rates have to go even higher to bring down inflation, while others disagree.

Fortune

Pausing interest rate hikes would be the Fed’s ‘worst mistake,’ Citadel’s Griffin says

Despite recession fears and inflation seemingly receding, Griffin says the Federal Reserve should stay the course with interest rate hikes.

Fortune

Rising Grocery Prices Pushed Annual Inflation to 8.3 Percent in August

Even as gas prices continued to tumble, rising prices for food and housing pushed inflation higher in August and proved that prices aren't cooling off yet.

Reason

Can we avoid a recession? What we can learn from the Kiwis

New Zealand property prices have fallen every month this year following a series of punishing interest rate hikes that began last October. So far, the hikes have yet to dent inflation.

ABC News

Biden's Plan To Ease Gas Prices Will Save Drivers a Few Cents at Some Pumps…2 Months From Now

Plus: Why high inflation is getting more attention than low unemployment, how to make supply chains more resilient, and more...

Reason

Rampant inflation, anxiety stymie Biden effort to focus on strong economic growth

WASHINGTON — It’s a maxim in politics: Bad economic news trumps the good. And that is what scares President Joe Biden and the Democrats.

Los Angeles Times

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The Independent UK

Biden cites economic gains, but voters see much more to do

President Joe Biden is turning his focus to kitchen-table issues as he struggles to get credit for a recovering economy in the lead-up to the midterm elections

People

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