September’s uptick in inflation dealt Americans with higher prices just before the midterm elections, as Democrats seek to wrestle back control of Congress from the GOP by highlighting affordability concerns. Annual inflation was 3.7 percent last month, according to the consumer price index (CPI). On a monthly basis, the cost of energy, gas and electricity…
GOP Sen. Bernie Moreno (Ohio) said Tuesday he will introduce legislation to expand access to the Trump administration’s investment accounts for children to Americans younger than 40. “This is a game-changer and I’ll lead the bill in the Senate to make it happen,” Moreno wrote on the social platform X. “Trump Accounts are already transforming…
Billionaire investor Ken Griffin said Tuesday that investors are dealing with an artificial intelligence bubble, as companies rack up debt to satisfy the demand for data centers and models. “There’s almost certainly bubbles within this moment in time. And any radical transformation of our economy is generally intertwined with a bubble,” Griffin, the founder of…
Virginia Gov. Abigail Spanberger (D) is pushing for a six-year pause on electricity rate hikes in the commonwealth as part of a merger between NextEra Energy and Dominion Energy. Spanberger on Monday filed expert testimony with the State Corporation Commission (SCC), urging it to reject the proposed merger if the two companies do not agree…
United Airlines CEO Scott Kirby backed national wealth and inheritance taxes in an interview published Sunday, arguing they would help level the playing field for Americans. Kirby told The New York Times that wealth inequality “has become a danger to our society,” adding the federal government must “address” it. “We should have a national wealth…
The Saudi government has postponed its annual investment conference — known colloquially as “Davos in the Desert” — to next year, after the Iran-backed Houthi rebels carried out multiple deadly attacks on Saudi Arabia earlier this month. Organizers at the Future Investment Initiative (FII) Institute postponed the 10th edition of the conference, which was set…
Kevin Hassett, the director of the National Economic Council (NEC), dismissed recent polling Monday, instead arguing the U.S. economy is “in a boom.” During an interview on CNBC’s “Squawk Box,” Hassett said consumer spending indicates the economy remains strong. “If economic polls … were correct, then people wouldn’t be taking trips to nice hotels, they…
JPMorgan Chase CEO Jamie Dimon said in an interview published Monday that the U.S. economy, while performing well, has to fend off “inflationary” events. “The American economy is kind of booming right now. It’s good times,” Dimon told Alan Murray of The Wall Street Journal Leadership Institute. Dimon noted that corporate profits are “way up,”…
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