Inflation

Former Treasury Secretary Larry Summers slammed the Federal Reserve Wednesday for being too timid in its fight against inflation.

Manufacturing activity in New York state plunged in March for the first time since the early days of the COVID-19 pandemic as orders and shipments dropped and delivery times increased.

The California tax is used to fund roads and other infrastructure projects; the state's Legislative Analyst's Office projected the tax will generate about $8.8 billion in revenue during the 2021-22 fiscal year.

Biden has recently made a concerted effort to blame Russia's ongoing invasion of Ukraine as the main source of economic turmoil in the U.S., pointing to disrupted markets.

Rep. French Hill, R-Ark., slammed President Biden over his argument that rising prices in the United States have "nothing to do" with his administration’s policies.

The producer price index, which measures inflation at the wholesale level before it reaches consumers, surged again in February.

The Federal Reserve is expected to begin raising interest rates this week for the first time in three years as policymakers look to cool red-hot inflation, a move that comes at a precarious time for the U.S. economy as it confronts a continuing pandemic and a war in Europe.

Nonwhite voters have been most impacted by inflation and their growing frustration poses a threat to Democrats ahead of the 2022 midterms, according to the findings of a recent poll.

Musk's tweet comes after the consumer price index rose 7.9% in February from a year ago, marking the fastest increase since January 1982, when inflation hit 8.4%.

A spike in COVID-19 cases has prompted China to lock down two major cities, freezing production across a number of auto manufacturers and electronics factories – a move that threatens to further exacerbate the hottest inflation in four decades.