Consumer price growth in July slowed to its lowest post-pandemic level, a sign that the surging inflation that has gripped the U.S. economy is finally ebbing. On a 12-month basis, the Consumer Price Index (CPI) cooled to 2.9%, down from 3% in June — the first time the index dipped beneath 3% since March 2021. […]Read More
Grocery price growth, once the scourge of the post-pandemic inflation surge, has finally settled down. On Wednesday, the Bureau of Labor Statistics reported that food-at-home prices increased 1.1% year-on-year — the ninth-straight month of sub-2% increases. For the average consumer, the new price levels can take years to adjust to, economists say. Between January 2021 […]Read More
As investors face economic uncertainty, financial advisors have guidelines for how much cash they should have set aside. Despite second-quarter economic growth, nearly 60% of Americans wrongly think the U.S. is currently in a recession, according to a June survey of 2,000 adults from Affirm. While Goldman Sachs and JP Morgan raised recession forecasts in August, other experts still expect an economic “soft landing,” […]Read More
Independent presidential candidate Robert F. Kennedy Jr. sought a meeting last week with Democratic nominee Kamala Harris to discuss the possibility of serving in her administration, perhaps as a Cabinet secretary, if he throws his support behind her campaign and she wins, according to Kennedy campaign officials. Harris and her advisers have not responded with […]Read More
Former president Donald Trump on Wednesday appeared to open the door to significantly expanding his plans to impose sweeping new tariffs if he returns to office, suggesting an escalation in proposals that many experts already see as likely to cause a global trade war. Previously, the Republican presidential nominee had called for levying tariffs of […]Read More
LONDON — Travelers in Europe can now take unlimited flights for 499 euros ($550) a year under a new travel subscription service from budget carrier Wizz Air. The annual “all you can fly” pass, which allows passengers to book one-way and roundtrip flights throughout the year, will be available for the introductory fee until Friday before […]Read More
Welcome to The Campaign Moment, your guide to the biggest developments in a 2024 election in which Democrats are about to find out how far “vibes” can take you. (Make sure you are subscribed to this newsletter here. You can also hear my analysis weekly on Apple Podcasts, Spotify or wherever you get your podcasts.) […]Read More
Kamala Harris, amid a furious battle for the Democratic presidential nomination in 2019, embraced a ban on fracking and offshore drilling. She supported Medicare-for-all. At one point, she advocated abolishing private health insurance. And she signaled an openness to a sweeping overhaul of the U.S. Immigration and Customs Enforcement agency. Now, the vice president’s campaign […]Read More
A construction boom in the U.S. has resulted in lower rents and other benefits for renters. Record-construction activity since the pandemic has increased the supply of empty units, meaning more inventory is available for renters. More multi-family units were completed in June than in any month in nearly 50 years, according to Zillow Group, an online marketplace for real […]Read More
Back in June, the Pew Research Center offered a sobering bit of data. The percentage of Americans who viewed both major parties’ presumptive presidential nominees unfavorably had reached 25 percent, 1 in 4. It was the highest such percentage in the history of Pew’s polling, and it suggested that people who disliked both candidates were […]Read More
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