Economy

Fed holds interest rates steady for second time this year Source link

Heidi Shierholz raises concern over AI and power imbalance in labor Source link

The United Auto Workers announced a strike at three plants — one each at Ford, General Motors and Stellantis — overnight after failing to agree on a contract with the so-called Big Three auto companies. Though right now only those three auto plants are targets, the UAW has said that more will strike as time … Read more

The election is still 423 days away, and Biden and his chief super PAC are already running TV ads in nearly every major battleground state — far earlier than normal for a presidential election. And instead of going on the attack, as super PACs usually do, the ads are trying to boost Biden’s image. Future … Read more

For months, the president and members of his Cabinet have crisscrossed the country to preach the message the administration has packaged as “Bidenomics,” and in anticipation of the Labor Day holiday, Biden has been driving that message even harder. In an op-ed in the Milwaukee Journal Sentinel on Sunday, the president wrote that unemployment was … Read more

“It’s a complicated relationship,” Raimondo said. “There’s no doubt about it. We are in a fierce competition with China at every level. And anyone who tells you differently is naive. All of that being said, we have to manage this competition. Conflict is in no one’s interest.” The Commerce secretary, having joined multiple senior Cabinet … Read more

The Fed wants to see hiring slow because intense demand for labor tends to inflate wages and feed inflation. The central bank hopes to achieve a rare “soft landing,” in which its rate hikes would manage to slow hiring, borrowing and spending enough to curb high inflation without causing a deep recession. Optimism about a … Read more

The emergency funding, approved early in Biden’s presidency, helped 80 percent of providers nationwide pay down debts and hold onto employees, averting a wave of program closures and child care shortages. Now, though, that financial support is coming to an end. The White House signaled earlier this month it wouldn’t prioritize the child care program … Read more

“They’re going to wrap their arms fully around the economic strategy and economic results,” said Seth Harris, the former deputy director of Biden’s National Economic Council. “And I think their expectation is that there will not be a recession.” The question of how strongly to tout the economy has vexed virtually every president running during … Read more