Inflation Eases an Inch

Update 607 — Inflation Eases an InchBut Hits Home(s): Prices, Sales, Rents The main takeaway from yesterday’s CPI report: inflation remains high, though decelerating marginally. CPI increased for consumer goods by 0.3 percent in April, down from the 1.2 percent increase in March. Increases in prices for food, airline fares, new vehicles, and shelter contributed …

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Fed’s 50 bp Rate Hike

Update 606 — Fed’s 50 bp Rate Hike:Tight Labor Market Cause and Effect Per this morning’s jobs report, the US economy added 428,000 jobs in April, average hourly wages are up 5.5 percent from a year ago, and unemployment stayed at a mere 3.6 percent – a near 50-year low – showing that Americans are getting back …

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Chopra’s Reform Agenda at CFPB

Update 605 — Consumer Finance:Chopra’s Reform Agenda at CFPB The nation’s consumers — aided by robust fiscal stimulus — have been the driving force of economic recovery from the pandemic recession. This is a teachable moment for advocates of consumer protection, where progressive priorities have a greater chance of fruition than most economic policy agenda …

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Legislative High Season

Update 604 — Legislative High Season:100-Day Roadmap for Econ. Policy Bills Congress settles back after recess this week, facing a packed to-do list and a ticking clock. The appropriations process for FY2023 is under way. Again, Democrats’ immediate priority is reconciliation. Negotiations with Sen. Manchin focus now on climate and health provisions, but we saw …

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Tax as a Class Act

Update 603 — Tax as a Class Act:Code’s Impact on Income Inequality This past Monday marked the end of tax filing season for 2022. Average Americans again find themselves paying a higher rate than wealthier filers. OMB estimates that the 400 wealthiest Americans pay an average tax rate of only 8.2 percent, widening inequality. Paying a higher tax …

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Fighting Inflation by Relieving Costs

Update 602 — Symptom vs. Disease:Fighting Inflation by Relieving Costs There is a difference between battling inflation, which is the Fed’s errand, and battling its effects, which is more of a fool’s errand. With prices up 8.5 percent from a year ago and midterm primary season starting next month, the temptation is to focus on easing costs …

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Decision Ahead on Student Loans

Update 601 —  Degrees of Debt:Decision Ahead on Student Loans The CPI Report for March, released yesterday, showed prices rose by 8.5 percent during the last 12 months. Energy prices moderated markedly during March. Some predict this will represent the high-water mark of an inflation rate that will remain elevated through the fall.  The Biden …

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MOC Stock Trading

Update 600 — MOC Stock Trading:Public Trust and the Public Interest Voters say, overwhelmingly, that members of Congress should be banned from trading stocks while in office, as MOCs receive privileged and tradable information that average Americans don’t. The policies currently in place to provide transparency regarding MOC stock trading get inadequate compliance and provide penalties that don’t deter insider …

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 Eyes on the Pump Price

Update 599 — Eyes on the Pump Price:Energy Costs and Biden’s Inflation Fight Hearings on the Hill this week focused on elevated gas prices Americans are facing at the pump, causing and affecting elevated energy prices amounting to a third of headline inflation. President Biden has taken up the battle against inflation. Some responses he has …

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