Despite experiencing record levels of output and job growth during the first year of the Biden presidency, rising prices are casting a shadow over the economy. Inflation over the last 12 months was higher than at any point in the last 40 years and has outstripped wage gains for many workers across the income distribution.
Month: February 2022
Tetra Images | Getty Images The IRS has already issued 22 million refunds, at an average $3,536 each. That’s $700 more than last year, when the average refund was just over $2,800. For most people, a lump-sum payment of this size is rare. “The tax refund is often the biggest windfall households receive all year,” said
Dan Lauer, founding executive director of UMSL Accelerate Dan Lauer By all measures, Dan Lauer had a successful career. The banker turned entrepreneur created the best-selling children’s toy Waterbabies, and after selling 25 million of the realistic dolls, he wanted to give back to his alma mater, the University of Missouri-St. Louis Business School, and empower
New York City Mayor Eric Adams told CNBC on Monday he wants to encourage new business formation in the Big Apple, including in nascent industries like cryptocurrency. In an interview on “Squawk on the Street,” the Democratic Adams lamented that “the layers of bureaucracy” that he believes stand in the way of entrepreneurship in the
In this article BP.-GB NOC FL REGI FHN The Raytheon stand is seen at the 53rd International Paris Air Show at Le Bourget Airport near Paris, France June 21, 2019. Pascal Rossignol | Reuters Check out the companies making headlines in midday trading. Defense stocks — Defense stocks rose as the conflict between Russia and
New homes under construction by CastleRock Communities in Kyle, Texas, in November 2021. Matthew Busch | Bloomberg | Getty Images Record increases in home prices are also pushing up the amount of equity people have in their abodes. For many Americans, that means they can borrow more against what is often their biggest asset. However,
The central processing plant for oil and gas in Salym, Russia, Feb. 4, 2014. Salym Petroleum Development is a venture between Shell and Gazprom Neft. Andrey Rudakov | Bloomberg | Getty Images Shell said Monday it is ending an “equity partnership” with Gazprom, a Russian state-owned energy company, as the Russia-Ukraine conflict continues. Shell said
Getty Images If you’re considering a Roth conversion, stock market drops may make the strategy more appealing, according to financial experts. While the popular move, allowing higher earners to bypass income limits for Roth individual retirement account contributions, was in peril as House Democrats passed Build Back Better, the spending package stalled in December. Nevertheless,
After you are gone, your trustee will either need to hold assets in trust for your children or distribute the assets to them. You will not be here, so you need to make sure the trust contains instructions that express your intentions. Here are some points to think about in making these important decisions. • Decide
Great natural light can give a boost to any property. These residences for sale have an abundance of natural light from walls of windows and take in the views from their locations worldwide. Tall picture windows frame the famous Tête-d’Or Park from the living room inside this stunning … [+] apartment in Lyon. Groupe Mercure
Cannabis leaves sit on plants growing in a greenhouse in the GW Pharmaceuticals Plc facility in Sittingboune, U.K. on Monday, Oct. 29, 2018. Jason Alden | Bloomberg | Getty Images A vast marijuana farm could soon be built on a small island between the U.K. and Ireland. Peel Group, a real estate firm led by
Nio Founder and CEO William Li poses outside of the New York Stock Exchange to celebrate his company’s IPO. Photo: NYSE BEIJING — U.S.-listed Chinese electric car company Nio is set to offer its shares for trading in Hong Kong on March 10, the start-up announced Monday. The move comes as regulatory risks grow in
Travel restrictions are quickly disappearing in Europe, with new announcements coming by the week — and, more recently, by the day. Changes to eliminate Covid-related travel rules gained momentum in January, as a wave of omicron-related infections engulfed the continent. But parts of Europe didn’t wait to act. Citing high vaccination rates and the
You probably know some lively, spirited older people and plenty of others who seem listless and bored with life. What makes the difference? Mental health basics, together with attending to physical health surely contribute to how we age and to our vitality. Some folks who seek advice at AgingParents.com describe their elders as doing reasonably
In this article @CL.1 @LCO.1 An oil pumping jack, also known as a “nodding donkey”, in an oilfield near Dyurtyuli, in the Republic of Bashkortostan, Russia, on Thursday, Nov. 19, 2020. Andrey Rudakov | Bloomberg | Getty Images Oil prices jumped Sunday evening after the U.S. and Western allies imposed sanctions on specific Russian banks,
Traders on the floor of the NYSE, Feb. 24, 2022. Source: NYSE U.S. stock futures moved lower in overnight trading on Sunday as investors grew concerned about the economic ramifications of the fighting between Russia and Ukraine. Dow futures dropped about 450 points. S&P 500 futures fell 2.3% and Nasdaq 100 futures lost 2.7%. U.S.
The United States Capitol is seen framed with a canopy of trees from Fort Stanton Park on in Washington, D.C. The Washington Post | The Washington Post | Getty Images The Covid-19 pandemic caused unexpected financial shocks for many Americans, particularly low-income service workers who were at higher risk of losing their jobs. The emergency
So far in the history of Illinois pension legislation that I’ve been recounting, the public and the press have little to no role, between the lack of interest and the backroom dealing. But, however much the Chicago Tribune editorial board, among others, worried in 2012 that voters would be fooled into thinking that the pension
Today’s Social Security column addresses questions about how retirement benefits accrue both cost of living adjustments and delayed retirement credits, the ability to suspend a retirement benefit and potential effects of having no income before filing. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning,
Bomani Jones onstage during “Colin In Black And White”, Netflix, And Dreamville Present Path To Power Summit at Clark Atlanta University on November 04, 2021 in Atlanta, Georgia. Paras Griffin | Getty Images Bomani Jones doesn’t want to be your economics teacher. Instead, the well-known sports personality wants to make compelling arguments around the intersection
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