Goldman Sachs Predicts 24% GDP Drop; It’s Not All Bad News
Though Goldman Sachs is predicting a GDP drop of close to 25 percent, when all is said and done, and the virus has been contained, the nation is likely to be...
Economics
Federal Reserve Lowers Funds Rate to Zero, Citing Coronavirus Impact
The Federal Reserve cited “the coronavirus outbreak,” which has “disrupted economic activity in many countries” as its reason for lowering the federal funds rate to zero. ...
Oklahoma Enacts Price Controls After Trump’s National Emergency Declaration
Oklahoma may be a strongly “red” state, a state in which no Democrat has carried an Oklahoma county in a presidential election in 20 years, but its laws often reflect the...
National Debt Is $122 Trillion, Not $23 Trillion, Says Non-profit Group
While the U.S. Treasury says the National Debt is officially $23.3 trillion, economists say it’s much larger — at least $122 trillion, owing to all of the unfunded liabilities such as...
Occupational Licensing Harms Poor, Doesn’t Help Consumers: Report
Occupational licensure does little to enhance consumer safety but much to prevent those at the lowest rung of the economic ladder from improving their lot, according to a recent report from...
One Trillion Dollars Repatriated So Far, Reports Commerce Department
According to the U.S. Department of Commerce American companies have repatriated more than a trillion dollars of their overseas profits since Trump’s “tax holiday” was announced in 2017. ...
New York Times Claims FedEx Paid Zero Taxes in 2018; FedEx Founder Wants Debate
After the New York Times criticized FedEx for allegedly not paying any taxes in 2018, FedEx founder Fred Smith challenged the Times’ management to a public debate. ...
Latino-owned Businesses Prospering Under Trump Economic Policies
Several recent news reports have noted that Latino-owned small businesses have been thriving under the economic policies implemented by the Trump administration. ...
Millennials Projected to Change Spending Habits, Impact Economy
As Millennials spend less on inexpensive items and spend their savings on things such as cars and houses over the next decade, this will have a major impact on the economy....
Reality Check for CNN: Target’s Wage Increase Being Offset by Fewer Hours
Two years ago, CNN was delighted that Target was going to increase employee wages. On Monday, CNN revealed that the wage increase was paid for by the employees themselves, many of...
Blue-collar Employment Thriving Under Trump — Hits 50-year High
Employment levels in blue-collar jobs have been growing at their fastest rate in more than 30 years, with most of the growth taking place since Donald Trump took office. ...
$15 Minimum Wage Takes a Bite Out of Big Apple’s Restaurants
New York City’s restaurants are cutting staff and hours or even closing outright as a result of the increase in the city’s minimum wage to $15 an hour. ...
NPR Shops at Walmart to Learn Cost of Trump’s Tariffs, Gets Big Surprise
NPR expected to show that Trump’s tariffs were costing consumers hundreds if not thousands of dollars. Imagine their surprise when they learned they aren’t. ...
Business Roundtable’s New Purpose Statement Echoes Elizabeth Warren’s “Accountable Capitalism” Bill
The Business Roundtable’s new “statement on the purpose of a corporation” puts stockholder interests last, behind the interests of customers, employees, suppliers, and local communities. ...
U.S. Government Will Borrow Nearly $1 Trillion This Year
The Treasury Department announced on July 29 that the federal government is scheduled to borrow nearly $1 trillion this fiscal year, the greatest amount in six years. ...