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U.S. economic growth was much weaker than expected to start the year, and prices rose at a faster pace, the Commerce Department reported Thursday. Gross domestic product, a broad measure of goods and services produced in the January-through-March period, increased at a 1.6% annualized pace when adjusted for seasonality and inflation, according to the department’s Bureau of Economic Analysis. Economists surveyed by Dow Jones had been looking for an increase of 2.4% following a 3.4% gain in the fourth quarter of 2023 and 4.9% in the previous period. Consumer spending increased 2.5% in the period, down from a 3.3% gain...

The US economy grew at a slower pace than expected in the first quarter. The Bureau of Economic Analysis's advance estimate of first quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 1.6% during the period. Economists surveyed by Bloomberg estimated the US economy grew at an annualized pace of 2.5% during the period. The reading came in significantly lower than fourth quarter GDP, which was revised up to 3.4%. The softer-than expected print is a sign that the Federal Reserve's historic interest rate hikes are putting pressure on consumers and the economy. Investors...

The International Monetary Fund boosted its 2024 global growth forecast to 3.2%, holding steady with 2023, compared with its previous outlook that expected 2.9% growth this year and 3.0% in 2023. In addition, headline inflation is projected to drop to 2.8% at the end of 2024 then to 2.4% at the end of 2025. "Most indicators continue to point to a soft landing," the IMF said in its April 2024 World Economic Outlook Report. "We also project less economic scarring from the crises of the past four years, although estimates vary across countries." The U.S. economy has overtaken its pre-pandemic...

During an interview with Univision that took place on March 20 and was released on Tuesday, President Joe Biden responded to a question on what he would say to people who don’t feel economic growth or job creation in their paychecks and pockets by stating that “it’s not yet” reflected and touting his work on overdraft and junk fees. Interviewer Enrique Acevedo asked, “I’ve heard you talk about economic growth, job creation. What do you say to the families — not just Latino families — but families across the country, that don’t feel that economic growth, that job creation reflected...

ABC reported that almost all the strong economic growth in the country is happening in the Red states, proving to them that warm weather causes economic growth. At least that is the explanation that they are going with. That, and Democratic mayors in Red states are attracting young liberal workers. So Texas is going gangbusters because people like hot weather and Democrats.No, I am not kidding. They don't even mention that Republicans run the states. They are Red states because Trump won. Republican governors and legislators apparently are irrelevant. Nearly every week, a fresh round of strong economic data elicits...

CNBC anchor Rick Santelli gushed over a January jobs report that he described as a “WHOPPER” that blew away expectations and featured a “HUGE jump” in average hourly wages. On Friday morning, the Bureau of Labor Statistics released a January jobs report that saw 353,000 jobs added, well above expectations: Total nonfarm payroll employment rose by 353,000 in January, and the unemployment rate remained at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, health care, retail trade, and social assistance. Employment declined in the mining, quarrying, and oil and gas...

Oil prices could soar back into the triple-digits if crude supply faces more pressure – and that could bring global economic growth to a near standstill, according to JPMorgan. In a note on Tuesday, the bank's strategists noted oil prices have jumped 27% over the past month to trade at a 10-month high. Around 25% of that change is attributable to higher-than-expected oil demand, while 75% is attributable to major supply cuts, such as from OPEC+, which has repeatedly slashed its crude production over the past year.

Slippin’ into darkness! Bidenomics, that is! Joe Biden is not a friend of the US middle class. The St Louis Fed’s real time GDP tracker known as Nowcast has Q3 GDP at -0.07%. This happening at M2 Money growth collapses. If you want to feel good, check out Atlanta Fed’s GDPNow estimate (housing economist Raphael Bostic is its President) which has Q3 GDP at 5.6%. When will The Fed return to it low riding rates days? Reverend Biden.

Job growth in the private sector slowed sharply in August, coming in below economists’ expectations and hinting at a cooling labor market. The private sector added only 177,000 jobs in August, according to the latest ADP National Employment report released Wednesday. This marks a significant drop from July’s numbers, which ADP revised upward to 371,000. Economists surveyed by Reuters had anticipated a 195,000 increase in private employment, while those polled by Dow Jones had forecast a 200,000 increase, according to CNBC. “This month’s numbers are consistent with the pace of job creation before the pandemic,” said Nela Richardson, the chief...

Bidenomics just got jolted! US job openings in July collapsed by -22.4% to 8.82 million job openings. As M2 Money growth remains negative. You can see the same collapse in growth of job openings in this chart. Apparently, Powell and The Gang at The Federal Reserve have to keep on printing! Here is alleged Civil Righter advocate Joe Biden saying the N- word in Congress. I can’t believe this stupid, demente fool is our President.

March’s Personal Consumption Expenditures Core Prices remain HOT despite The Fed crashing M2 Money growth. Personal spending in March slowed to 0% growth. The Taylor Rule infers a Fed Funds target rate of 10.27% Alas, we will never get there.

Just because counterproductive economic policies have been around for a long time doesn’t mean we shouldn’t try for a better world. There’s a proven pro-growth, pro-liberty path.Both Republicans and Democrats at the national level have put us down a path of slow growth, massive deficits, and high inflation. With a new Republican majority in the U.S. House and the daunting debt ceiling fight over the bloated $31.4 trillion national debt almost exclusively due to excessive spending, there’s a proven pro-growth, pro-liberty path.In 2022, the U.S. had real GDP growth of just 0.9 percent (Q4-over-Q4), the highest inflation in 40 years,...

China emits 27% of global carbon dioxide and one-third of the world’s greenhouse gases. That exceeds those of the U.S. and other developed countries combined. Fundamentally, a nation’s capacity to grow, prosper, and safeguard the environment hinges on the quality of its institutions and economic system. It’s the freer economies that do a far better job of achieving more dynamic growth while creating a healthier, cleaner natural environment.

Florida was the fastest-growing state from July 1, 2021, to July 1, 2022, with its population increasing by 1.9 percent, according to a report issued Thursday by the U.S. Census Bureau. Florida had an estimated 22,244,823 residents as of July 1, up from 21,828,069 a year earlier. “While Florida has often been among the largest-gaining states, this was the first time since 1957 that Florida has been the state with the largest percent increase in population,” Kristie Wilder, a demographer in the population division of the Census Bureau, said in a prepared statement. While topping states in percentage increases, Florida...

There are plenty of postmortems about Raphael Warnock’s defeat of Republican candidate Herschel Walker in the runoff for the Senate seat in Georgia. Yes, in the same state, Republican Brian Kemp won a decisive victory in the race for governor. And, yes, to be kind, Walker was not a great flag-bearer to draw voters, particularly black voters, to the Republican Party. But let’s ask why voters, particularly black voters, would send Warnock to represent them for another six years in the U.S. Senate. The Georgia electorate is around 30% black, and 90% of them voted for Warnock. What are these...

President Biden on Thursday took a victory lap after federal data showed the U.S. economy grew by 2.6 percent during the third quarter of the year and accused congressional Republicans of “rooting for a downturn.” “For months, doomsayers have been arguing that the US economy is in a recession and Congressional Republicans have been rooting for a downturn,” Biden said in a statement. “But today we got further evidence that our economic recovery is continuing to power forward. This is a testament to the resilience of the American people.” Commerce Department data showed U.S. gross domestic product (GDP) grew at...

U.S. economic growth rebounded during the third quarter after six months of steady declines, according to data released Thursday by the Commerce Department. U.S. gross domestic product (GDP) grew at annualized rate of 2.6 between July and September, up from declines of 1.6 percent in the second quarter and 0.6 percent in third quarter of 2022, the Bureau of Economic Analysis reported Thursday. That means that if the third quarter’s pace of growth lasted 12 months, the U.S. economy would have grown 2.6 percent by the end of that time. Economists expected U.S. GDP to rise at an annualized rate...

Latest estimate: 0.3 percent — September 20, 2022 The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2022 is 0.3 percent on September 20, down from 0.5 percent on September 15. After this morning's housing starts report from the US Census Bureau, the nowcast of third-quarter residential investment growth decreased from -20.8 percent to -24.5 percent.

The chance of an economic "soft landing" has faded, and the Fed is pushing for a "growth recession." The phrase describes a period of below-average growth, rising unemployment, and slowing inflation. The Fed chair said that while it'd "bring some pain," letting inflation stay high would be worse. In an ideal world, the Federal Reserve has already vanquished pandemic-era inflation while keeping unemployment at historic lows and avoiding a recession. Hopes for such an outcome are all but entirely dashed, and the Fed has switched to plan B. The central bank's message at its annual conference in Jackson Hole, Wyoming,...

WASHINGTON, D.C. — In a bold move this morning to address the nation's financial woes, President Biden has officially called on the American economy to stop being bad. "Come on, economy!" said an impassioned President Biden. "Make everything cheaper! Give everyone more money! I hereby demand you stop being atrocious! Do it. Do it now!" Pundits immediately lauded President Biden's brilliant plan, with MSNBC heralding it as the most transformative economic initiative since the New Deal. "Biden simply asking the economy to be better is nothing short of genius," said Rachel Maddow. "Economists are out there playing checkers, and Joe...