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Biden says Democrats' $740 billion bill WILL boost midterm chances as Republicans plot November revenge and tear into legislation that will 'ignores taxpayers, will increase inflation' and double size of IRS
Democrat Sen. Chris Coons of Connecticut suggested the legislation may take 'a year or more' to bring down inflation during an interview on ABC News' This Week.
'Democrats would rather redefine a recession than restore a healthy economy': Kevin McCarthy leads Republicans tearing into Biden and the Dems for refusing to face 'predictable' financial crisis
Republicans led by Kevin McCarthy immediately sounded off that the U.S. is in a recession Thursday as Biden claims there is not one even though the economy shrunk for the second straight quarter.
America goes into RECESSION after second straight quarter of negative growth but Biden insists: 'We are on the right path'
Gross domestic product shrank 0.9 percent in the second quarter, following a decline of 1.6 percent decline in the first quarter, the Commerce Department said on Thursday.
The increases saw the S&P, Nasdaq, and Dow all swell by as much as two percent after the highly anticipated move from the central bank, raising its key rate by .75 percentage points.
EXCLUSIVE: Republican Rep. Mike Waltz says GOP will investigate China buying US farmland if they take the majority - and warns it could damage the economy and be used to help spread their influence
Recent reports have highlighted Chinese companies' increasing hold over key sectors of the American economy with purchases of US farmland and expansion of technology in rural areas.
REVEALED: Desperate American families have used $114BN of their rainy day savings to cope with soaring inflation - despite Biden saying they are saving more than ever
U.S households are dipping into the $2.7 trillion saved during the pandemic as personal savings rates slump to just 5.4% in May - down from an all-time record of 34% in April 2020.
US energy producers roast Biden over gas prices tweet they suggest is written by a 'White House intern' who should 'register for Econ 101 for the fall semester'
US energy producers have hit back at Joe Biden after the president tweeted that 'companies running gas stations' should simply 'bring down the price you are charging at the pump'.
White House hits back at Jeff Bezos: Biden NSC official John Kirby defends President as 'plainspoken' after Amazon founder accused him of 'misdirection' in handling high gas prices
National Security Council Coordinator for Strategic Communications John Kirby said President Biden is 'speaking honestly with the American people' about high gas prices after Jeff Bezos' attack.
'Inflation is far too important to keep making statements like this': Jeff Bezos blasts Biden for trying to blame gas stations for astronomical prices - and even China mocks the president by claiming he 'now realizes capitalism is exploitation'
President Joe Biden is pleading with the major oil companies who are 'running gas stations' to bring down their prices because 'this is a time of war and global peril.'
Goldman Sachs doubles the chances of the US entering a recession in the next year over fears the Fed will continue to hike rates to fight soaring prices even if growth slows sharply
'We now see recession risk as higher and more front-loaded,' Goldman Sachs Chief Economist Jan Hatzius wrote in a note on Monday, raising the chances of a recession in the next year to 30%.
Now White House signals gas tax holiday IS on the table after states start implementing their own breaks and national average price per gallon hits record high of $5.02
Biden is more seriously considering a federal gas tax holiday as prices at the pump continue to soar and the administration is still blaming the surge on Russia's invasion of Ukraine.
Bitcoin plummets to below $25,000 - the worst since 2020 levels - amid huge selloff sparked by fears over rocketing US interest rates: Celsius Network and Binance freeze withdrawals
Bitcoin tumbled on Monday to its lowest point since 2020 after major U.S. cryptocurrency finance companies Celsius Network and Binance froze withdrawals on Monday morning
Top Obama economic adviser Larry Summers says there WILL be a recession and gas prices will keep going up after Treasury Secretary Janet Yellen insisted the economy was going to recover
Larry Summers said that he thought Treasury Sec. Janet Yellen is wrong to say that there is 'nothing to suggest' the U.S. will fall into a recession.
'Exxon made more money than God this year': Biden threatens oil companies over record gas prices, tells them to pay their taxes and continues to blame 'Putin's price hike' for 41-year high inflation
Biden spoke at the Port of Los Angeles just hours after a report was released showing annual inflation in the US has jumped 8.6 percent.
Biden finally admits inflation is 'not coming down as quickly as needed' as it surges to new 41-year high of 8.6%: Groceries jump 12% and gasoline soars 49% as rising prices cause misery for consumers
The Labor Department's report on Friday showed that the consumer price index rose 1 percent in May from the prior month, for a 12-month increase of 8.6 percent.
Two-thirds of corporate finance chiefs say recession will hit the US within the next 12 months and NONE believe the economy can avoid a downturn
A recent survey of chief financial officers found that most believe a recession will strike in the next 12 months, and none believe the US economy will escape a downturn.
SEC boss proposes new rules for brokers in response to 'meme stock' mania: Wall Street firms would have to compete to execute trades to ensure small traders get the best price
The top U.S. securities regulator has proposed rule changes to transform how Wall Street handles stock trades from small investors in the wake of the meme stock mania last year.
JPMorgan CEO Jaime Dimon says to 'brace yourself' for an economic 'hurricane' and warns the price of oil 'almost has to go up' this summer even as gasoline hits a new record high
JPMorgan Chase CEO Jaime Dimon has issued a stark economic warning, saying that rising commodity prices and tightening monetary policy could deliver a 'hurricane' blow to the US economy.
US gas prices are now at record levels in ALL 50 states for the first time in HISTORY: LA gas station is charging more than $8-a-gallon
Several states, like New York and Arizona, are pennies away from hitting $5-a-gallon as prices hit historic highs, while one Chevron gas station is charging customers more than $8 per gallon.
Great worker shortage threatens summer as restaurants and pools close because they can't hire enough staff - and soaring wages is making inflation even worse
The shortage has seen summer businesses such as those in Cape Cod reduced to a shell of their pre-pandemic selves, operating on limited hours or closing altogether due to lack of staff.
Rise in work from home is directly responsible for 15.1% of the increase in average house prices, analysis finds, as people sought out larger properties and nicer places to live
Housing market prices increased by 23.8% from December 2019 to November 2021 - the fastest rate on record, with remote work accounting for 15.1% of that growth, a new study finds.
EXCLUSIVE: Homeless at the gates of Disney: Thousands are living in motels, encampments and even their cars - in the shadow of the 'Most Magical Place on Earth' amid soaring rent prices and post-pandemic unemployment
Thousands of homeless people are estimated to be living in the shadow of Disney World near Kissimmee, Florida after falling on hard times during the pandemic, DailyMail.com can reveal.
Almost half of President Biden's Twitter followers are FAKE, audit reveals as Elon Musk puts deal to buy Big Tech giant on hold over bots
Roughly 11 million followers of the US president's official Twitter handle, @POTUS, are either bots or inactive accounts, according to an analysis by Spark Toro.
Karine Jean-Pierre says Biden STILL does not have a decision on whether to cancel up to $10,000 in student loan debt - almost a fortnight after he said he would make a decision 'in a couple of weeks'
President Joe Biden still doesn't have action announced on student loan forgiveness despite claiming two weeks ago that he would make a decision 'in a couple of weeks.'
Federal Reserve Chairman Jay Powell warns Americans they must expect 'SOME PAIN' amid fears of job losses as the US central bank tries to bring down crippling inflation
Federal Reserve chair Jay Powell issued a stark warning to Americans already struggling with crippling price rises: There will be more pain ahead as the central bank tries to tackle inflation.
Wholesale prices surge 11% in April as rising food costs keep inflation near record highs - grains jump 41% and eggs soar 161%
Wholesale inflation in the US soared 11 percent in April from a year earlier, a hefty gain that indicates high inflation will continue drag down to consumers and businesses in the months ahead.
President Joe Biden will address a global summit on Covid-19 Thursday, but Congress' refusal to authorize billions of dollars in funding has thrown into...
Biden mocks Trump as the 'Great MAGA King' at union convention in Chicago while blasting his predecessor for adding to the deficit
President Joe Biden took his MAGA attacks on the road for the first time since he launched a push against 'ultra MAGA' forces and Donald Trump's grip on the Republican Party.
Abbott warns it will take TEN WEEKS to get baby formula products on shelves when FDA finally allows its biggest factory to reopen as crisis for parents across US trying to feed their kids deepens
Abbott Laboratories warned it could take more than two months to get their products back on retail shelves once the FDA gives the go to reopen its Michigan plant.
Biden blames 'Putin's war' for locking up millions of tons of grain and sending US food prices soaring as he tells Illinois farmers they are the 'backbone of freedom'
President Joe Biden toured an Illinois farm Wednesday to call for new investments and agricultural policies that he said would help blunt the impact of inflation amid Russia's war on Ukraine.
Biden asks Congress to approve new $400m weapons deal selling missiles and radar to Turkey for its fleet of F-16 fighters
The potential deal represents a major development in relations between Ankara and Washington, and comes as Turkey continues to support Ukraine amid the Russian invasion.
Janet Yellen warns eliminating abortion rights would have 'damaging effects' on US economy and 'set women back decades'
Treasury Secretary Janet Yellen on Tuesday warned that eliminating abortion rights would damage the U.S. economy and 'set women back decades.'
Coinbase shares sink after it reports $430m loss: With its stock down 80% since launch day and crypto prices crashing what's next for investors?
Coinbase shares are down hugely since making its market debut last April. With crypto in a tailspin it is expected to report lower transaction numbers in the first quarter.
Biden says high-speed internet is as 'consequential' as his grandfather's 'need for a telephone' as he announces plan to give 48 million American homes 'free' WiFi that will allow MORE to work from home
High speed internet is not a luxury any longer. It's a necessity,' said President Biden said at the White House Monday, championing a plan to get high-speed internet to millions of Americans.
MARKET REPORT: S4 Capital soars 12% after boss Sir Martin Sorrell says it will finally publish the advertising firm's full-year results
Sir Martin Sorrell (pictured) was forced to delay publication of S4 Capital's full year results twice in March - sending shares in the company tumbling.
Pandemic darling Cameo lays off 25% of its staff as people flock back to in-person events: CEO begs companies on Twitter to hire his workers
Cameo CEO Steven Galanis said he laid off 87 staffers, including those in starting and senior-level positions, during a company-wide meeting on Wednesday, citing the need to scale back.
Record 4.5M Americans quit their jobs in March as the Great Resignation continues: Workers seek more pay and better working conditions as bosses post 11.5M openings
The number of Americans quitting their jobs hit a record high in March, as job openings shattered prior records and gave workers their pick of more lucrative opportunities.
Tesla boss Elon Musk sells £3.2bn shares in electric car maker to raise funds for his £35bn deal for Twitter
The tycoon sold 4.4m shares, or 2.6 per cent of his 16.6 per cent holding, after Twitter's board backed his takeover approach.
INVESTING EXPLAINED: What you need to know about FAANGS, an acronym for Facebook, Amazon, Apple, Netflix and Google, the US tech titans
When the acronym was coined in 2013 by Jim Cramer, presenter of the CNBC show Mad Money, it was 'Fang', then Apple was added in 2017.
EXCLUSIVE: GOP leader Kevin McCarthy claims Biden's 'plan' to forgive $10,000 in student loans is to 'distract from his flailing agenda' and 'stunt' to 'subsidize degrees of the elite' and 'leave working Americans paying the tab'
The $373 billion sum is also more than double what the country has spent over two decades on providing energy assistance to Americans who struggle to pay for heating in the winter.
Key Fed inflation measure rockets to 40-year high of 6.6% as central bank looks to rapidly hike interest rates to beat soaring prices hitting Americans
The personal consumption expenditures (PCE) price index soared 6.6 percent in the 12 months through March, the biggest increase since 1982 and up from February's revised 6.3 percent rate.
'The extreme antibody reaction from those who fear free speech says it all': Elon Musk blasts left-wing Twitter staff threatening to sabotage firm and says he's 'against censorship that goes far beyond the law' as he hints at future of site after $44B deal
The billionaire blasted the 'extreme antibody reaction' from 'those who fear free speech' and said it 'says it all' as he launched his first public backlash against woke workers.
Twitter fears sabotage by left-wing staff after Musk takeover: Developers are blocked from app after rebellious employees called deal 'dangerous for democracy' - and hysterical liberal social media personalities threaten to QUIT social media giant
Staff bombarded the US social media site and internal message boards with attacks on the controversial tycoon.
Angry Twitter staff claim their new boss is 'dangerous for democracy' as they are told in emergency meeting their jobs are only safe for six months until Musk completes his $44bn takeover
Twitter staffers made no bones about the fact that they're not thrilled with Tesla CEO Elon Musk 's takeover - despite being warned they could be given the boot in six months.
'Elon is the singular solution I trust': Jack Dorsey tweets support for Musk's takeover bid as it's revealed Twitter founder is in line to make $928m from the deal while CEO Parag Agrawal will get $39m
Twitter executives are in line for multimillion dollar payouts if Elon Musk's $44 billion buyout proceeds as planned, with co-founder Jack Dorsey the biggest winner, followed by the CEO and former chair.
Psaki hints Biden will STILL go after Twitter - even if Elon Musk takes over - because of his 'concerns' over their 'power' and the 'harms they cause
White House Press Secretary Jen Psaki on Monday hinted that Twitter could face regulatory action after its takeover by Elon Musk, as part of administration efforts to rein in social media.
Twitter staff are told in emergency meeting that their jobs are only safe for six months until Musk completes his $44bn takeover as they demand to know if they will be forced to return to office
The Tesla magnate, 50, agreed to pay shareholders $54.20 in cash for each share of common stock before the bombshell deal was struck.
Disney is set to rank among WORST-PERFORMING stocks in 2022 as company prepares to be stripped of its special privileges in Florida: Stocks tumble 31% from a year ago
As Disney is set to lose its special privileges in Florida the company's stocks continue to take a tumble, closing at $126.66 per share on Thursday, a 31 percent drop over the course of the last year.
Border agencies could run out of money by JULY if Title 42 is lifted: Biden is considering asking for MORE funding from Congress to deal with predicted 'mass migrant event'
Immigration agencies like ICE and CBP could run out of funds as soon as early July if migration skyrockets with the end of Title 42. In response, President Joe Biden is prepared to ask Congress for more money.
Now Bidenflation comes for your burger: Price of Big Mac rises by 7% in a year as food and labor costs spike with Seattle now selling America's dearest at $6. 39
Inflation has triggered a seven per cent increase in the price of a Big Mac that has fans wondering whether the iconic burger should be renamed the Whopper.
'I can't come to the office because of inflation!': Remote workers now claim skyrocketing cost of gas and childcare under Biden administration is making it too expensive for them to commute as they fight to work from home
Businesses looking for employees to return to the office have been met with push-back from workers who claim their daily office routine is too expensive. Workers cited rising gas and childcare costs.
THIS is America's highest paid boss: Billionaire Trade Desk CEO Jeff Green, 45, tops 2021 executive pay list with package valued at $830 MILLION... but vows to give 90% of his fortune away before he dies
Jeff Green (pictured) was given the eyewatering sum by California-based Trade Desk, which said it matched the interests of the board and shareholders.
Pharma giant J&J's bankruptcy will NOT protect it against lawsuit from workers who claim they were exposed to asbestos in the manufacturing of its baby powder, court rules
Johnson & Johnson will not be able to avoid facing a class-action lawsuit from employees that allege the company exposed them to asbestos.
Dimon raises the alarm over a looming US recession: JP Morgan boss warns of effects of inflation and Ukraine war
Dimon (pictured with wife Judith)said market volatility was inevitable as the Fed tightens its quantitative easing programme and shrinks its balance sheet.
Biden has a new take on the old slogan 'it's the economy, stupid' - he clearly thinks it's the American people who are stupid. Why else would he continue blaming Putin for record inflation, asks MEGHAN MCCAIN
MCCAIN: The White House slogan may as well be 'It's Putin's fault, stupid.' And he's talking to you and me. Well the American people aren't buying it. Not only is this intellectually dishonest, it is a lie.
Now wholesale inflation hits all-time record high of 11.2%: Cost of vegetables soars 82% and grains jump 40% signaling retailers could soon jack up consumer prices further
The Labor Department said Wednesday that its producer price index - which tracks inflation before it hits consumers - jumped 1.4 percent in March from the prior month alone.
Biden accuses Putin of GENOCIDE in Ukraine while talking about Americans' pain at the pumps and says 70% of price rises are because of his Ukraine invasion
President Joe Biden on Tuesday seemed to accuse Vladimir Putin of committing 'genocide' in the Ukraine afer his administration officials have been careful not to use that word.
America goes back to the 80s: Surging gas prices and higher rents push inflation to 41-year high of 8.5% as White House blames it on Putin invading Ukraine
The Labor Department said on Tuesday that the consumer price index increased 1.2 percent in March from the month before, for a 8.5 percent gain from a year ago.
Bank of America analyst warns clients that a 'recession shock' is on the horizon - days after Deutsche Bank forecasted the economic downturn for 2023 due to Federal Reserve attempts to tame surging inflation
Michael Hartnett, chief investment strategist for Bank of America, warned clients on Friday of a looming 'recession shock' in the US economy as the Fed tries to tame rampant inflation.
Five Democratic Senators including Krysten Sinema launch bipartisan bill to BLOCK Biden lifting Title 42 unless there is a plan in place to secure the border
A bipartisan group of senators, led by Democrat Kyrsten Sinema, will propose bill to prevent the Biden administration from lifting Title 42 without plan in place to stop mirgrant surge.
'Amazon, here we come': Biden celebrates warehouse staff unionizing in warning to corporations, tells labor leaders he gets 'angry' about unifying the country and whispers about 320,000 new construction jobs
The White House walked back Biden's comments after the event, making clear that the president would not be 'involved in any direct effort' to force Amazon to accept unions.
'No amendment, no COVID funding': Republicans stand firm on stopping $10billion bill until there is a vote on Title 42 after the White House accused the GOP of causing a 'step backward' in the pandemic
Republicans doubled down on their demand to hold a vote on an amendment that would keep the Title 42 border restrictions in place as part of $10 billion covid funding bill.
West tightens the economic noose around Putin regime: UK freezes assets of Russia's largest banks as US places sanctions on two of autocrat's daughters after Bucha war crimes
Britain, the United States and the European Union all unveiled new measures designed to weaken the Russian war machine and force it to withdraw from Ukraine.
Number of billionaires in the world drops to 2,668 but they're still worth $12.7trillion, according to Forbes 2022 list: Rihanna joins the club, Peloton's John Foley drops out and Elon Musk takes top slot
Celebrities such as singer Rihanna and Lord of the Rings Director Peter Jackson were among 329 people to join the ranks of the world's billionaires for the first time this year.
Biden officially EXTENDS the pause on student loan repayments until August 31 because the US is 'still recovering from COVID' - despite pressure from The Squad to cancel it ALL and Republicans calling it an insult
Roughly 43 million federal student loan borrowers have not been required to make payments for more than two years, since the CARES Act was first signed into law under Donald Trump .
'Good morning to our new overlord!': Woke Twitter employees vent their fears over Elon Musk's vow to make 'significant' changes on platform after admitting his $3b investment for 9% of shares is NOT passive
Twitter employees are voicing their concerns after Elon Musk was named a company board member and majority shareholder. Musk has admitted his investment in the company was not passive.
Deutsche Bank is first to forecast US recession for 2023 with unemployment rate rising to 5.1 percent as Federal Reserve tries to quell rampant inflation
Deutsche, the first major bank to make the negative forecast, said a recession will hit the U.S. in late 2023 and carry into 2024 due to the Federal Reserves efforts to combat inflation.
Billionaire investor Ray Dalio warns soaring inflation under Biden will send America back to the 1970s: 'We're going to have a period of stagflation'
'I think that most likely what we're going to have is a period of stagflation. And then you have to understand how to build a portfolio that's balanced for that kind of an environment,' Dalio said.
Democrat and Republican lawmakers reach a DEAL for an extra $10billion extra in funding for the US COVID response - without the financial backing for global vaccination distribution
Lawmakers have reached a bipartisan deal to offer $10 billion in additional Covid-19 funding.
House PASSES bill to cap the cost of insulin at $35 a month: 12 Republicans join Democrats to push through legislation which the GOP has compared to 'government price fixing'
The House voted on Thursday on a bill to cap insulin prices at just $35 a month, easing the burden for millions of Americans that spend thousands of dollars a year on the life-saving drug.
Biden warns food shortages are 'going to be real' across the globe because of Putin invading the world's 'breadbasket' Ukraine
President Joe Biden on Thursday said there will be food shortages around the globe because of Vladimir Putin's invasion of Ukraine.
California Gov. Gavin Newsom is to give up to $800 debit cards to ALL Golden State drivers as gas hits $5.88 a gallon - but experts warn it will drive up inflation
California Gov. Gavin Newsom has proposed giving people $800 debit cards or bus fare as the average gas prices hit a new state record on Wednesday at $5.88 per gallon, AAA reported.
White House says it has now exhausted all funds to get all Americans a fourth COVID vaccine and call on Congress again to pass the $15billion spending bill
President Joe Biden's administration has run out of money to buy a fourth dose of the covid vaccine for all Americans, a new report said on Tuesday.
'With all the people dying in Ukraine?' Nancy Pelosi snaps at reporter asking about the COVID relief left out of the spending bill - and then asks for DOUBLE the funding
House Speaker Nancy Pelosi grew frustrated with a reporter who repeatedly asked her about Covid relief aid as she reminded him that 'people are dying' in Ukraine.
Air travel rebounds to pre-pandemic levels with Americans spending $6.6billion in February but airlines are increasing fares so offset the increased fuel costs: Delta is hiking prices by 10% in April
The Adobe Digital Economy Index, which uses online sales from six of the top 10 airline companies in the US, saw ticket sales for domestic flights in February exceed those from February 2019.
Pete Buttigieg says government spending REDUCES the deficit, gas prices are out of a political leaders control and there is still a backlog of ships trying to get into US ports
Pete Buttigieg suggested Tuesday that other priorities are more important than lowering gas prices as he claimed that prices at the pump are 'outside the direct control of any political figure.'
Psaki says Biden 'can't do much' about skyrocketing gas prices, again blames Putin and says record 7.9% inflation will be 'temporary' after President said it would be 'short-term' last spring
Jen Psaki doubled down on blaming Vladimir Putin for soaring U.S. inflation, after the consumer price index hit another 40-year in February, which Biden called 'Putin's price hike.'
It's all Vlad's fault! Biden blames PUTIN for 7.9% inflation - the highest in 40 years - even though Russia only invaded Ukraine four days before the end of the month being measured
Inflation in the United States has reached a new 40-year high of 7.9 percent, with further increases likely due to the soaring prices of oil and commodities after Russia's invasion of Ukraine.
Biden administration hints they might EXTEND the student loan freeze despite calls from tax groups to drop it because it has cost taxpayers $100 billion
The Biden administration is eyeing up another potential extension of the student loan payment pause beyond its May 1 expiration date.