The U.S. economy faces plenty of threats: War in Ukraine, high grocery bills, spiking gasoline prices, splintered supply chains, the lingering pandemic and rising interest rates that slow growth. The Biden White House is betting the U.S. economy is strong enough to withstand these threats, but there are growing fears of a coming economic slump
President Joe Biden enters the midterm election year of 2022 determined to address what economists call a “supply” problem — there aren’t enough jobseekers or goods to meet the country’s needs. This is also a political problem. The mismatch has obscured the strong growth and 3.9% unemployment rate achieved during Biden’s first year, the kind
President Joe Biden said Monday he is nominating Jerome Powell for a second four-year term as Federal Reserve chair, endorsing his stewardship of the economy through a brutal pandemic recession in which the Fed’s ultra-low rate policies helped bolster confidence and revitalize the job market. Biden also said he would nominate as vice chair Lael
What’s wrong with the economy? Nobody seems quite sure, but it’s clear that the Biden administration’s $1.9 trillion stimulus package passed in March, on top of the $900 billion approved in December, the last full month of the Trump administration, has not had the intended results. Yes, the economy has grown, and so have wages.
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