Economy

Janet Yellen calls into question China’s ‘unfair’ economic practices

Check out what’s clicking on FoxBusiness.com. US Treasury Secretary Janet Yellen raised concerns to China about the communist country’s “unfair, non-market” economic practices in a call with a Chinese official. Yellen’s comments were made Monday during a call with Chinese Vice Premier Liu He, according to the US Treasury Department. The two discussed US economic …

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Dow recovers from 700 point drop as investors look for signs of recession

The Dow (INDU) fell by about 130 points, or 0.4%, after being down nearly 700 points earlier in the day The S&P 500 gained 0.2% after dropping more than 2% earlier and the Nasdaq Composite was up by 1.8%. Tech stocks buoyed markets as investors hope that a possible recession will lead to lower interest …

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Cancelling student debt for everyone is bad policy and bad economics

Recent reports indicate that the Biden administration is considering canceling some student loan debt. At $1.7 trillion, the amount of student debt is astronomical. This is 30 times the entire budget of the US Department of Education in 2022. Extravagant spending warrants extraordinary scrutiny, and such expensive policies demand a careful consideration of who benefits …

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Adam Tooze, Crisis Historian, Has Some Bad News for Us

This article was featured in One Story to Read Today, a newsletter in which our editors recommend a single must-read from The AtlanticMonday through Friday. Sign up for it here. America and the world are living through what Adam Tooze, the internet’s foremost historian of money and disaster, describes as a “polycrisis.” As he sips …

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Why recession could hit San Francisco harder than other cities

A potential recession could hit San Francisco’s tech-centered economy hard. Though the city’s record low unemployment figure of 1.9% in May is “a pretty clear sign that we’re not in a recession at the moment,” there are potential risks, said Ted Egan, San Francisco’s chief economist. Egan sees the Federal Reserve’s plan to raise interest …

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Republicans pushing tax hike? Midterm elections at risk if GOP joins Dems in carbon fee

FreedomWorks senior economist Steve Moore, Forbes Media chairman Steve Forbes and former Reagan economic adviser Art Laffer discuss how to rebuild American economic prosperity on ‘Kudlow.’ Republicans are rightly making inflation – especially at the gas pump – a big election year issue. So it will be eye-popping news to Americans struggling with skyrocketing prices …

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Mitch McConnell Says Labor Shortage Will End When People Run Out of Stimulus Money

For over a year, lawmakers and businesses have been bemoaning how they can’t find workers. There’s a multitude of reasons why there’s labor shortages: People moved away from locations with open positions; parents haven’t been able to return to work as they deal with ongoing pandemic uncertainty; And the open roles might not be the …

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Stuart Varney on Biden’s economics: It can’t be good when communists think he’s right

FOX Business host Stuart Varney argues ‘political posturing can’t beat bad policy.’ During his latest “My Take,” “Varney & Co.” host Stuart Varney discusses Biden’s “magic wand theory of economics” as he continues to tell gas station owners to lower prices, arguing “it can’t be good” when communists think he’s right. STUART VARNEY: I’m going …

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Are markets underestimating how far the Fed must go to tame inflation?

The Federal Reserve isn’t even four months into its latest interest-rate-hiking cycle, and yet investors are already pricing in rate cuts as soon as next year, the latest sign that the market is bracing — or perhaps rather hoping — for a swift return to the easy-money monetary policy that helped drive the roaring stock …

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Oil industry group: White House ‘intern’ who posted high gas prices tweet should take economics class

An oil industry group blasted a tweet from President Biden’s account over the weekend that called stations on “companies running gas” to lower their prices, saying the intern who penned the post should enroll in “Econ 101.” The retort from the US Oil and Gas Association, which has picked up 19,000 retweets and more than …

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