Renewable Energy Is Revealing Monetary Savings

Increases In Renewable Energy Has Begun To Show Savings To U.S. Consumers Across The Country

Monday, July 15, 2024, 8:00 A.M. ET. 3 Minute Read, By Elaine Metz, PhD Environmental Sciences, Englebrook Independent News, 

MANHATTAN, NY.- New research has revealed and begun to highlight the advantages that renewable energy is bringing to the average U.S. consumer. Researchers from the Lawerence Berkley National Laboratory looked at wind and solar electricity between 2019 and 2022 and found that production increased by about 55% over that period. In 2022 alone, wind and solar provided around 15% of all electricity needs in the United States.

     This reduced reliance on fossil fuels has cut carbon dioxide emissions by over 900 tons, the equivalent of taking just around 215 million cars off the road a year. 

     By accomplishing this, toxic air pollution, such as sulfur dioxide and nitrogen dioxide, has been reduced, leading to a reduction in asthma and other related pollution-induced health problems. The displacement of fossil fuels by clean energy has resulted in a combined reduction in emissions of these gases by around 1 million tons over the three-year period.

     Researchers calculate that these emissions reductions have resulted in a whopping $249 billion of climate and health benefits across the U.S. Air Quality benefits have also meant an estimated 1400 fewer deaths throughout the country.

     Another component of the study highlighted how future wind and solar development can be targeted for optimum climate and health benefits. For example, the production of wind-powered energy will be highest in the central United States, whereas solar energy generation is most reliably produced in the Southern regions of the U.S.

     The study highlights the real progress being achieved in the U.S. in clean energy production and the climate, health, and monetary benefits derived from these important changes.

FILED UNDER: JULY 15, 2024: NATIONAL, LOCAL, SCIENCE & NATURE, FINANCE:  

      

June 2024 U.S. Inflation Report

Consumer Prices Rose 3% In June, Less That May Economists Expected But Fell Slightly From May's Number

Thursday, July 11, 2024, 12:30 P.M. ET. 2 Minute Read, By Jennifer Hodges: Englebrook Independent News: Charts From The US Bureau Of Labor & Statistics,

WASHINGTON, DC.- Consumer prices fell for the first time since the start of the COVID-19 pandemic, which could result in a long-awaited Federal Reserve interest rate cut, but we shouldn't bank on that one.

     Consumer price increases slowed more than expected in June, giving some evidence that inflation may finally be cooling down. The Consumer Price Index rose 3% year over year in June, slower than the 3.3% annual rate from the month before. From May to June, prices dropped 0.1 percent. This will be the first time the monthly numbers have significantly declined since May 2020.

     Thursday's report from the U.S. Bureau of Labor and Statistics gives some hope that the Federal Reserve may cut interest rates in September, which could bring some relief to voters ahead of the 2024 general election.

     In remarks to Congress on Tuesday, Federal Reserve Chairman Jerome Powell expressed concerns that "holding interest rates too high for too long could jeopardize economic growth. Reducing policy restraint too late or too little could unduly weaken economic activity and employment, " but Powell stopped short of committing to an interest rate cut. 

     Core inflation, which excludes volatile food and energy prices, climbed just 0.1% from May to June. This would be the slowest monthly growth since January 2021. Gasoline prices fell by 3.8%, and used vehicle prices fell by 1.5%. Shelter costs which have continued to boost inflation for many months, rose by just 0.2%.

     Federal Reserve officials are unlikely to announce any interest changes when they meet at the end of July; however, the central bank could signal a pivot at its annual meeting in Wyoming in August.

     Although Thursday's report is encouraging, many Americans are continuing to struggle with their everyday purchases of necessary items. Hopefully, the July Consumer Price Index report will bring another drop in prices.

FILED UNDER: JULY 11, 2024: NATIONAL, LOCAL, FINANCE, WASHINGTON:                         

NJ Governor Murphy Signs Law Charging Owners Of EVs Extra $250 Per Year

NJ Drivers Of Electric Vehicles Will Now Have To Pay An Annual Registration Surcharge Fee Of $250 Per Vehicle

Tuesday, July 9, 2024, 10:30 A.M. ET. 2 Minute Read, By Jennifer Hodges: Englebrook Independent News,

TRENTON, NJ.- Just when you think it couldn't get any worse living in the State of New Jersey, N.J. Governor Murphy has done it once again. Last week, Murphy signed into law a new fee of $250 per year, going up an additional $10 per year with a cap of $290 for residents purchasing new electric vehicles (EVs).

     The new fee went into effect on Monday, July 1, 2024, and will require New Jersey drivers purchasing new EVs to pay an additional upfront fee of $1000 in addition to their regular four-year New Jersey motor vehicle registration fee, which all drivers pay.

     Murphy argued that the fee is needed to help fund improvements to New Jersey's aging transportation systems, such as roads, bridges, and public transportation modes. Drivers of gas-powered vehicles already pay into the transportation fund through a state gas tax, which is currently at 42.3 cents per gallon. Under the new law, the gas tax is expected to climb an additional 2 cents annually over the next five years.

     Murphy is also proposing to phase out the sales tax exemption for electric vehicles, which has been in place since 2004. This would further raise the upfront purchasing cost of EVs by thousands of dollars.

     Once again, as New Jersey residents pay one of the highest property tax rates in the nation, and with inflation showing no signs of decreasing, Murphy once again penalizes residents for his administration's wasteful and unnecessary spending by burdening them with another state tax.

FILED UNDER: JULY 1, 2024: LOCAL, FINANCE, NEW JERSEY:     

         

       

     

         

  

U.S. Economy Adds 206,000 Jobs In June

U.S. Economy Adds 206,000 Jobs In June, April, May Revised Down Indicating A Slowdown

Friday, July 5, 2024, 12:30 P.M. ET. 5 Minute Read, By Jennifer Hodges: Englebrook Independent News,

WASHINGTON, DC.- Today, the U.S. Department of Labor reported that there were 206,000 jobs added to the U.S. economy in June, slightly more than expected as the April and May job numbers were revised down, a sign of a steady economic slowdown.

     The unemployment rate ticked up slowly by 0.1 percentage point to 4.1 percent, marking the first time since November 2021 that the jobless rate was above 4 percent. 

     In today's report, both the unemployment rate, at 4.1 percent, and the number of unemployed people at 6.8 million, changed little in June. These measures are higher than a year earlier when the jobless rate was 3.6 percent and the number of unemployed people was 6.0 million. The long-term unemployment rate, those jobless for 27 weeks or more rose by 166,000 to 1.5 million in June. This measure is up from 1.1 million a year ago. The long-term unemployment accounted for 22.2 percent of all unemployed people in June. 

     This comes as both April and May job numbers were adjusted lower by a combined number of 111,000, to 108,000 in April, (down 57,000) and 218,000 in May, (down 54,000) signaling that there were fewer jobs created than initially reported. 

     Although the June jobs numbers were higher than expected, reported on Friday, most of the hiring was the strongest for government, social assistance, healthcare, and construction, while the manufacturing and retail sectors lost jobs. 

     Government employment rose by 70,000 in June, higher than the average monthly of 49,000 over the prior 12 months. Over the month, employment increased in local government, excluding education by 34,000, and in state government by 26,000.

     Healthcare added 49,000 jobs in June, lower than the average monthly gain of 64,000 over the prior 12 months. In June, employment rose in ambulatory healthcare services by 22,000 and hospitals by 22,000.

     Employment in social assistance increased by 34,000 in June, primarily in individual and family services by 26,000. Over the prior 12 months, social assistance had added an average of 22,000 jobs per month.

     Construction added 27,000 jobs in June, higher than the average monthly gain of 20,000 over the prior 12 months.

     Retail trade employment changed little in June, down by 9,000, after trending up earlier in the year. Furniture, home furnishings, electronics, and appliance retailers lost 6,000 jobs over the month, while warehouse clubs, supercenters, and other general merchandise retailers gained 5,000 jobs.

     Employment in professional and business services changed little in June, down by 17,000, and has shown little change over the year. Temporary help services employment declined by 49,000 over the month and is down by 515,000 since reaching a peak in March 2022. Employment in professional, scientific, and technical services continued to trend up in June by 24,000.

     Employment showed little change over the month in other major industries, including mining, quarrying, and oil and gas extraction; manufacturing; wholesale trade; transportation and warehousing; information; financial activities; leisure and hospitality; and other services.     

     Wage growth cooled slightly as anticipated, with the average hourly earnings rising by 0.3 percent in June and slowing to 3.9 percent on an annual basis. The labor force participation rate ticked up slightly to 62.6 percent from 62.5 percent after declining in May.

     The current gains in jobs are milder this year than last year at this point and hiring activity has substantially decreased from the increased pace of 2021 and 2022, during the pandemic recovery.

     The Employment data for July is scheduled to be released on Friday, August 2, 2024, at 8:30 a.m. ET.

FILED UNDER: JULY 5, 2024: NATIONAL, LOCAL, WASHINGTON, FINANCE:           

     

      

 

U.S. Labor Department Releases May 2024 Inflation Report

Inflation Slows Slightly In May, With Consumer Prices Up 3.3 % From A Year Ago

Wednesday, June 12, 2024, 9:15 A.M. ET. By Jennifer Hodges: Englebrook Independent News,

WASHINGTON, DC.- On Wednesday, the U.S. Department of Labor reported that the consumer price index cooled in May though it still increased by 3.3 percent from a year ago. Both numbers were 0.1 percent below market expectations. 

     Today's report might be a welcoming sign for the Federal Reserve, but prices still remain high for millions of Americans across the U.S.

     The Labor Department on Wednesday said, excluding the so-called core prices, which exclude the volatile food, energy costs, and rent increased by 0.2% on the month and 3.4% from a year ago, compared to the respective estimates of 0.3% and 3.5%.

     Following the report, stock market futures jumped higher while Treasury yields dropped. 

     As first reported by CNBC, though the top-line inflation numbers were lower for both all-items and core rate measures, shelter inflation increased by 0.4% on the month and was up 5.4% from a year ago. Housing numbers have been a sticking point in the Federal Reserve's inflation battle and make up a heavy share of the Consumer Price Index weighting.

     Prices were held in check, though, by a 2% drop in the energy index and just a 0.1% increase in food. Within the energy component, gas prices tumbled tumbled 3.6%. Another inflation component was motor vehicle insurance which saw a 0.1% monthly decline but still up more than 20% on an annual basis.

     Wednesday's report comes at an important point in time for the economy as the Federal Reserve weighs its next moves on monetary policy, which will be based heavily on where inflation is heading.

FILED UNDER: JUNE 12, 2024: NATIONAL, LOCAL, FINANCE:

  

    

Biden Announces Another 6.1 Billion Student Loan Forgiveness

On Wednesday, The Biden Administration Is Continuing Its Student Loan Forgiveness Ahead Of The 2024 Election

Wednesday, May 1, 2024, 11:00 A.M. ET. By Jennifer Hodges: Englebrook Independent News,

WASHINGTON, DC.- "Today, my Administration is approving $6.1 billion in student debt cancellation for 317,000 who attend the Arts Institutes," President Biden announced on Wednesday. In his release, the President and Education Secretary Miguel Cardona described the Arts Institutes as "Predatory" and said the new handouts would help students who were victims of their actions.

     As the majority of U.S. households continue to struggle with the continuing and growing increases in food, gasoline, rent, and energy costs. With an ever-increasing national deficit, with debt service cost approaching $1 trillion in the next year or two and a declining Gross Domestic Product Growth, The Biden Administration will now subject most Americans to pay for his Vote Buying Scheme, ahead of the 2024 General Election.

     Biden's newest round of handouts will increase the total number of student loans forgiven to $160 billion, impacting nearly 4.6 million borrowers.

     "Over the last three years, my Administration has approved nearly $29 billion in debt relief for 1.6 million borrowers whose colleges took advantage of them, closed abruptly, or were covered by related court settlements, compared to just another to just 53,000 borrowers who had ever gotten their debt canceled through these types of actions before I took office," Biden said this morning.

     "Today's announcement builds on all we've done to fix broken student loan programs and bring higher education more in reach. That includes; providing the largest increases to the maximum Pell Grant in over a decade, fixing Public Service Loan Forgiveness, and income Driven Repayment so borrowers get the relief they are entitled to under the law, launching the SAVE Plan, the most affordable repayment plan ever, and pursuing new plans that would cancel student debt for more than 30 million Americans when combined with everything we've done so far," Biden continued.

     Biden once again vowed not to stop handing out money to borrowers and make college more affordable to more students. "We will never stop fighting to deliver relief to borrowers, hold bad actors accountable, and bring the promise of college to more Americans."

     In Today's announcement, Secretary Cardona said the Biden administration was working with numerous states to pursue legal action against greedy schools.

     "For more than a decade, hundreds of thousands of hopeful students borrowed billions to attend The Arts Institutes and got little but lies in return. That ends today, thanks to the Biden-Harris Administration's work with attorneys general offices in Iowa, Massachusettes, and Pennsylvania," Secretary Cardona said. "We must continue to protect borrowers from predatory institutions and work toward a higher education system that is affordable to students and taxpayers."

     This all comes as students at colleges and universities across the United States have built encampments, taken over campus buildings, and as of overnight rioted at UCLA's Westwood Campus, as anti-Israel hate grows each and every day, in protest to the Hamas-Israeli War, when on October 7, Hamas Militants invaded southern Israel slaughtering 1200 Israeli Citizens, including women, infants, and the elderly.

     Instead of forgiving student loan debt, the Biden Administration should be revoking the student visas of the vast number of foreign-born nationals attending our Private and Public Higher Learning Institutions Nationwide, including the 2000 or so at Columbia University alone, that are actively protesting.

     Secretary Cardona touts that Biden's new student loan bailout will protect students from "predatory" schools and bad actors, that leave students with nothing more than a lie, Cardona can't even protect Jewish Students on Campuses across America.

FILED UNDER: MAY 1, 2024: NATIONAL, LOCAL, EDUCATION, POLITICS:         

 

Egg Prices Rise Amid Spike In Bird Flu Outbreaks

Since The Start Of 2024, The U.S. Has Seen A Resurgence Of The Highly Pathogenic Avian Bird Flu

Tuesday, April 23, 2024, 12:00 P.M. ET. By Ryan Metz: Englebrook Independent News,

WASHINGTON, DC.- Egg prices in the U.S. are on the rise again, amid a resurgence of bird flu cases that are continuing to plague the poultry industry across the U.S. According to the St. Louis Fed, the average cost for a dozen eggs has risen to $3.00. Although not as high as the record $4.80 set in January 2023, this is still an increase of $1.00 since eggs reached a low point of $2.00 per dozen in August 2023.

     The spike in prices is not the result of inflation, instead, it's the result of over 90 million poultry birds being infected with bird flu, the Highly Pathogenic Avian Influenza, H5N1, since February 2022. 

     The CDC reports that backyard flocks as well as commercial have been experiencing repeated outbreaks of bird flu throughout 48 states, with only Hawaii and Louisiana not reporting infections. These infections across the country have led poultry farmers to slaughter their entire flocks in an attempt to stop the spread of the disease.

     In a January article published by the Associated Press, California chicken farmer Mike Webster reported having to slaughter 550,000 egg-laying chickens to prevent the spread of bird flu in Sonoma County. Slaughters like this across the country have resulted in a shortage of eggs and as a result, higher prices in the grocery stores. "It's a trauma. We're all going through grief as a result of it," said Webster. "Petaluma is known as the Eggbasket of the world. It's devastating to see that egg basket go up in flames." 

     Over one million birds have been slaughtered throughout Sonoma County alone since the beginning of December 2023.

      The CDC has also reported, and they are following closely recent infections in dairy cows, following cows testing positive for H5N1 in 8 states, and as of April 19, 2024, the transmission to two humans. At this time the CDC has rated the risk to humans as low with only one other transmission to a human in 2022, from infected poultry. Reported symptoms have been mild and the first person infected has made a full recovery.

     As of today, the CDC continues to respond to the public health challenge posed by the outbreak of avian influenza A(H5N1) virus, or "H5N1 bird flu" in dairy cows and other animals in the U.S. is working with partners including the U.S. Department of Agriculture and the U.S. Food and Drug Administration.

FILED UNDER: APRIL 23, 2024: BREAKING, NATIONAL, LOCAL, HEALTH:              

  

Inflation Spikes Higher Than Expected In March As Prices Continue To Climb

CONSUMER PRICES ROSE 3.5 PERCENT FROM A YEAR AGO IN MARCH MORE THAN ANTICIPATED

     "Inflation Accelerated In March For The Third Straight Month Due To A Jump In Costs For Gasoline & Rent."

Wednesday, April 10, 2024, 9:30 A.M. ET. By George Petruska: Englerook Independent News,

WASHINGTON, DC.- According to The U.S. Labor Department, The Consumer Price Index accelerated at a faster pace than expected in March, increasing inflation higher and will likely keep The Federal Reserve on hold with interest rates.

     The Consumer Price Index, a broad measure of the price of everyday goods including Gasoline, Groceries, and Rent rose 0.4 Percent in March from the previous month. Prices climbed 3.5 Percent from the same time last year, above the 3.2 Percent recorded in February. 

     Economists surveyed by Dow Jones had been looking for a 0.3 Percent gain and a 3.4 Percent Year-Over-Year Level.

     Excluding volatile food and energy components, the core Consumer Price Index also accelerated by 0.4 Percent on a monthly basis while rising 3.8 Percent from a Year Ago, compared to the respective estimates for 0.3 Percent and 3.7 Percent Annually. 

     The report indicates that while inflation has fallen from a peak of 9.1 Percent, it still remains well above The Federal Reserve's target of 2.0 Percent. 

     The High inflation has continued to create Severe Financial Hardships for The Majority of U.S. Households, which have been forced to pay more for everyday needs like Rent and Food. The Burden has hit Low-Income Americans much harder, whose already stretched paychecks are more affected by price fluctuations.

FILED UNDER: APRIL 10, 2024: NATIONAL, LOCAL, FINANCE:         

March Jobs Report Comes In Higher Than Expected

THE U.S. ECONOMY ADDED 303,000 JOBS IN MARCH AND UNEMPLOYMENT DIPPED TO 3.8%

     "Despite Predictions That The Economy Was Supposed Slow, Employers Added More Jobs Than Expected."

Friday, April 5, 2024, 3:00 P.M. ET. By Jennifer Hodges: Englebrook Independent News, 

WASHINGTON, DC.- Despite Economist's Forecasts, that job growth was supposed to have started to slow by now, but on Friday another Jobs Report came in higher than anticipated, with U.S. Employers adding 303, 000 new jobs, The U.S. Department of Labor reported.

     March's job growth was up from a revised 270,000 jobs in February and came in far above the 200,000 jobs that Economists had predicted. By any account, it amounted to a major increase in hiring, and once again displayed the economy's ability to withstand the pressure of high borrowing costs resulting from The Federal Reserve hikes in interest rates. With U.S. Consumers continuing to spend, many Employers continued to hire to meet customer's demands.

     The Department of Labor also reported in Friday's Report that The U.S. Unemployment Rate dropped from 3.9% to 3.8%. The Unemployment Rate has remained below 4% for the past 26 straight months, the longest such run since the 1960s.

     The 303,000 jobs that were added in March were the largest increase since May 2023, and they accelerated the average monthly growth so far this year to 276,000, an improvement to 2023's average of 251,000.

     Though most companies added jobs in March, the hiring was mainly concentrated in Three Sectors. Healthcare and Education, Leisure and Hospitality, and Government which accounted for 69% of Hiring. Additionally, Construction Companies added 39,000 Jobs.

     In March, average hourly earnings increased by 0.3% from February, but to 4.1% annually. The average workweek increased to 34.4 hours, and the labor force grew to 62.7% from 62.5% in February.  

     A higher-than-anticipated jobs report, combined with the recent batch of inflation data, could further complicate the Federal Reserve's fight to slow Fast-Rising Prices. The Fed will get critical pieces of data next week when the latest Consumer Price Index and Producer Price Index reports will give light on the trajectory of inflation at the retail and wholesale levels. 

FILED UNDER: APRIL 5, 2024: NATIONAL, LOCAL, FINANCE:   

           

Hertz CEO Resigns After Electric Vehicle Push Goes South

HERTZ CEO STEPHEN SCHERR WILL STEP DOWN AT THE END OF MARCH

     "Hertz Will Replace Scherr With Gil West Former Chief Operating Officer Of Delta Airlines."

Monday, March 18, 2024, 11:15 A.M. ET. By Art Fletcher: Englebrook Independent News,

ESTERO, FL.- On Friday, March 15, 2024, Hertz, one of the Big Four largest Car Rental Companies Worldwide, announced that it's replacing its Chief Executive Officer after the company reversed its plan for Electric Vehicles, due to High Repair Costs and lagging Resale for EVs.

     Stephen Scherr will resign effectively on March 31, 2024, as Hertz Global Holdings Inc.'s Chief Executive Officer and Member of The Company's Board of Directors. Scherr had led Hertz for just a little over two years after spending Three Decades with Goldman Sachs. Scherr's Resignation comes after the Car Rental Company has financially struggled with people not wanting to Rent EVs and increasing repair costs.

     Back in January, Hertz announced in Corporate Financial Filings that it had made the decision to sell approximately 20,000 Electric Vehicles from its U.S. Fleet, or just around One-Third of its Global Electric Vehicle Fleet, and will now invest in Gas-Powered Cars.

     The Biden Administration had praised Hertz for its Investment in Electric Vehicles, as President Biden pushed to Electrify the Transportation Sector as part of his Climate Agenda, which is not panning out as he planned.

     Last month, Hertz posted its Biggest Quarterly Loss since 2020, following its decision to move away from The Electric Vehicle push. Under Scherr, Hertz's push to Invest in Electric Vehicles Failed over ever-increasing repair costs and people's hesitation to rent Electric Vehicles.

     Gil West will replace Scherr as of April 1 Scherr over the next couple of weeks will work with West to ensure a Smooth Transition, according to Company Officials.

FILED UNDER: MARCH 18, 2024: NATIONAL, LOCAL, MONEY & FINANCE:     

      

  

Inflation Increases Higher Than Expected In February

NO RELIEF AS THE LABOR DEPARTMENT SHOWS INFLATION ROSE IN FEBRUARY 2024

     "The U.S. Inflation Rose For A Second Time This Year In Labor Department's Key Inflation Report."

Tuesday, March 12, 2024, 10:30 A.M. ET. By Jennifer Hodges: Englebrook Independent News,

WASHINGTON, DC.- U.S. Consumers saw no relief as prices climbed for the Second Consecutive Month, as inflation remains stagnant, and fails to come down, creating a continuing hardship for Households across The Nation.

     On Tuesday, The U.S. Department of Labor said that The Consumer Price Index, a measure of the price of everyday goods that includes Gasoline, Groceries, and Rent, climbed 0.3 Percent in February from January. Prices Climbed 3.2 Percent from the same time last year, Faster than the 3.1 Percent figure that Economists Projected.

     Today's Labor Report will almost ensure that Interest rates will not come down and remain where they are.

FILED UNDER: MARCH 12, 2024: NATIONAL, LOCAL WASHINGTON, FINANCE:

     

  

   

All Three Main Wall Street Indexes On Wednesday Fell

 STOCKS TAKE A SLIDE, YIELDS JUMP SLIGHTLY AS FEDERAL RESERVE PROJECTS EARLIER RATE HIKES

     All Three Main Wall Street Indexes Fell On Wednesday As News From The Federal Reserve Eyes 2023 Rate Hikes As Inflation Expectations Rise."

June 6, 2021 By Art Fletcher & Leo Madison Reporting For: Englebrook Independent News, 

WASHINGTON- Stocks fell after the U.S. Federal Reserve brought forward its projections for interest hikes, driving up U.S. Treasury Yields and the Dollar.

     The U.S. Federal Reserve revealed its sooner than expected first post-pandemic interest rate hike to come in 2023, citing an improved health situation amid the vaccine rollout. Projections showed a majority of Federal Reserve Officials anticipating at least Two-Quarter Point Rate Increase in 2023, although the Federal Reserve said it would keep policy supportive for now to boost employment.

     " The central case growth and inflation expectations for the next couple of years have not changed by much since March, but there is an explicit recognition that the vaccination program has reduced the risks to the economy from the health crisis," said Brian Coulton, Chief Economist at Fitch Ratings.

     " Against that backdrop the projections showed that the Federal Reserve will have achieved both its inflation and maximum employment goals by 2023, warranting a start to interest rate normalization."

     Markets dipped immediately following the statement, after investors had kept them wavering around record highs all week. Wednesday's policy update from the Federal Reserve was highly anticipated as it was it's first since the new data showed inflation beginning to appear amid the economic comeback.

     The MSCI World Equity Index, which tracks shares in 45 Nations, fell 4.39 points or 0.61%. The Dow Jones Industrial average fell 217.13 points, or 0.63%, The S&P 500 lost 0.55% to 4,223.19 and The NASDAQ Composite 0.5%.

     The Benchmark 10-Year Treasury Yield US10YT=RR jumped on the statement, rising to 1.5278%. The dollar index, which tracks the Greenback versus the Basket of Six Currencies, rose 0.402 points, or 0.44%, its highest level since May 7th.

     Safe Haven Gold also took a hit on the Federal Reserve news, with spot gold prices falling 1.24% to $1,835.56 an ounce. And Oil Prices stepped back from earlier gains in the day, with Brent Crude last up 6 cents at $ 74.05 a barrel, U.S. Crude was last down 32 cents to $ 71.80 per barrel.

FILED UNDER JUNE 16, 2021: FINANCE:     

Inflation

INFLATION FIRST PRESIDENT CARTER, NOW PRESIDENT BIDEN

     " As Inflation Starts To Climb, Biden Seems Unconcerned, About The Future."

May 21, 2021 By Quera L. Knight & Art Fletcher, Reporting For: Englebrook Independent News

     With last month's low job numbers, and President Biden's current spending, and inflation rates slowly increasing. America is on a path to repeat history.

     Biden's continues to report that the economy is stronger than ever, and he is increased job grow by millions, when the facts revealed  america is heading back to the late 1970's.

    Inflation can be defined as the decline of purchasing power of a given currency over time. In terms of the economy, inflation is the powerful force that explains why one can no longer purchase a loaf of bread with a nickel, why comic book are no longer 35 cents, and why $5 can purchase a gallon of milk. As a consumer, it is what propels the strategy of making your dollar stretch.

     Understanding the effects of inflation is only the first step to honing your purchasing power as a consumer of our economic market. The next concept in understanding inflation is the factors that cause it. 

     In a microeconomic perspective, every decision made within the market, albeit supply or demand, manufactures or consumers; all changes made would theoretically affect inflation. Fortunately, macroeconomics combined with econometrics allows us an aggregated perspective of these infinite changes. This provides the opportunity to highlight patterns and draw conclusions. From this process, economists have popularized three situation types that push inflation.

     1.    Demand-Pull Effect

     2.    Cost-Push Effect

     3.    Built-In Effect

    The Demand-Pull effect is notable by increasing the supply of money at a faster rate than the increase of production. The average consumer has more money to spend, but without products and services to spend on, sellers of goods increase their prices. In contrast, the Cost-Pull effect also results in increased prices of ordinary goods, however it is fueled by an increase in cost of production. Lastly, the Built-In effect influences inflation through the mindset of consumers and workers. Plainly, people expect prices to go up and therefore demand wages and salaries that will compensate.

     There has been recent scares of inflation mimicking that of the Carter Administration, a time period that created a legacy called The Great Inflation. Outside of monetary policy, on of the biggest influence of the 1970's Great Inflation was stagnated economic growth; a result of steadily increased unemployment.

     As the world tries to return to a functional equilibrium post pandemic, there is a valid cause for concern, economic harm due to inflation. Consumers have already seen prices increase on precious commodities like gas and oil prices. There has also been no decline in government stimulus payments. The pandemic has uprooted the lives of entire society, and government assistance should be expected from the people. As an educated consumer, we should also expect our government to take into consideration Demand-Pull effect when authorizing stimulus plans and payments.

     One more factor to take into consideration before forming your own conclusion on where inflation is headed, the fuel of the Great Inflation, unemployment. Although we are under 8% average unemployment rate, the U.S. Bureau of Labor Statistics reports that April 2021's unemployment rate of 6.1% was not only an increase from March, it is higher than the forecasted 5.8%.

    While these unemployment rates in isolation may not be concerning, what may be a potential red flag is the fact that the stimulus plans set in place had the expectation of a decline in unemployment. With the supply of money still increasing and unemployment rates rising, an educated consumer is right to question the future of inflation on our economy.

FILED UNDER MAY 21, 2021: INFLATION: