Economy

Democratic Congresswoman Alexandria Ocasio-Cortezshared her frustrations with the financial cost of being part of Congress on Instagram, alluding to the cost of living increase in bog cities in Biden’s inflationary economy.

According toreports, Google told employees that the company will be “slowing down the pace of hiring for the rest of the year” amid an “uncertain global economic outlook.” In an email to employees, CEOSundar PichaisaidGooglewould be “pausing development” in some cases and “re-deploying resources to higher priority areas.” Insider firstreportedthe news.

With inflation at a41-year high, gas at record prices, and the cost of food and housing reaching record levels, Americans are looking for alternative methods for staying afloat as their resources are dwindling. Federal Reserve Economic Data (FRED) said in May that Americans had just 5.4% of their paychecks left after paying basic living expenses, leaving very little for savings.

The historic U.S.

The Environmental Protection Agency (EPA) is preparing to cite the United States’ largest oil field for violating ozone pollution standards, a move that will threaten the end of oil and gas production in the region.

On Thursday,Federal ReserveChairman Jerome Powell said that U.S.

Home sales have fallen to the slowest pace since June 2020, when 4.77 million homes were sold throughout the year, but that slow down has not stopped the soaring price of home ownership.

Steve Forbessays that “making people poor” to solve inflation will undoubtedly be the end result of the Federal Reserve hiking interest rates amid the nation’s record-high inflation, which will lead to the impending recession. Rising prices impacting Americans have been caused by multiple factors such asclimate change policies that reduce oil production, Russian sanctions, and President Biden’s habit ofgovernment overspending. In a recent interview, when Forbes was asked about President Biden’s attitude towards his failing economic policies, Forbes said, “People wonder what planet he is on.” ‘People Wonder What Planet He Is On’: Steve Forbes Torches Biden’s Finger-Pointing On Bad US Economy https://t.co/jyvqDPK7Wt — Daily Caller (@DailyCaller) June 13, 2022 The record-high prices have quickly become a leading issue for many American voters in recent months.

Bitcoin fell again on Wednesday to yet another 18-month low, spurring a sharp drop in crypto markets, made even worse by crypto lending giant Celsius freezing all customer withdrawals.

According to AAA, the average price of a gallon of gas has reached $5 per gallon, the highest national average on record. The new record-breaking price is more than double the cost of a gallon when President Biden took office when gas was just $2.25 per gallon nationwide and is now $1.93 higher than one year ago.

With gas prices continuing to soar across the nation, many police and fire departments, and even ambulance services, are choosing to alter how they handle emergency responses.

As the rate of inflation continues its record-setting trend of increase, rent costs are beginning to crush most Americans, causing them to fall behind and seek smaller homes and new towns, while Biden’s $15 per hour minimum wage falls far short of a living wage.

According to the World Bank’s latest global economic forecast released on Tuesday, global economic growth is expected to slow down before the end of the year, and most countries should begin preparing for a recession.

Target is canceling orders from suppliers and slashing prices further to clear out excess inventory ahead of the critical fall and holiday shopping seasons.

Earlier this year, President Biden revealed his efforts to save the average driver money at the pump while supposedly helping the environment by calling on the Environmental Protection Agency (EPA) to approve the use of E-15 fuel nationwide. In aFact Sheetreleased by the White House last month, the administration stated that theEPAwould be taking steps to temporarily allow the use of theE15, an Ethanol Gasoline mixture. The EPA is set to issue a voucher enabling the sale of the fuel during the 2022 summer driving season. The E15 blend can cost 10 cents per gallon less on average.

Rapper Cardi B caught the attention of social media on Sunday when she tweeted about a possible economic recession, asking when the experts were going to announce it was already in motion.

President Biden lied to Americans on Friday about the level of debt and savings U.S.

Friday’s Non-Farm Payroll report from the Bureau of Labor and Statistics (BLS) showed better initial numbers than expected for May but continues atrend of slower recoveryfor the U.S.

Elon Musk said this week that he has a “super bad feeling” about the economy and asked the leadership of his electric car company, Tesla, to pause all hiring worldwide. According to areport by Reuters, Musk sent an email to his senior leadership expressing his concern and indicating he feels the need to reduce the company’s workforce by as much as 10% currently. The email, which was sent on Thursday, was titled “pause all hiring worldwide” and came just two days after the CEO told staff to return to the workplace or leave. Musk’s Tesla employs nearly 100,000, according to a recentfiling with the SEC.

Analysts expected ADP’s data to show a 300k job gain for May, increasing from 247k in April, but the analysts were incredibly wrong. Private sector employment rose by a bleak 128,000 for May.

According to AAA, the national average price for regular gasoline climbed more than four cents on Thursday to $4.71 a gallon, climbing more than 37 cents in six weeks.

Drivers across the United States are feeling the record surge in gas prices that impact the nation’s entire population In some cities, the cost of a gallon of gas has now surpassed the federal minimum wage, meaning that it takes more than one hour of working to afford a single gallon of gas.

The nation’s top retailers have watched their inventories significantly expand due to shipping delays caused by the COVID-19 pandemic.