Larry Summers’ new inflation target

Former US Treasury Secretary Larry Summers has found a new target for his war on inflation: President Biden’s antitrust policies. why does it matter: National gas prices hit another record high on Monday, with inflation reaching 8.3 percent last month. Senior administration officials are highly sensitive to criticisms of Summers, the former Harvard University president … Read more

Biden admits that the US economy suffers from “problems” and warns of “distances”

President Biden acknowledged Monday that the US economy is in “problems” and that it will be a “burden” before Americans see full relief from inflation and price hikes. During a press conference in Japan the following His meeting with Prime Minister Fumio KishidaBiden insisted he does not believe a recession is inevitable, noting that Major … Read more

US announces major economic deal in Asia in effort to boost image and counter China

TOKYO – In a move to raise its economic profile and create another balance for China within Asia, the United States on Monday announced the Indo-Pacific Economic Framework with Asian partners including Australia, Japan and the Republic of Korea. It is a broad plan designed to help expand US “economic leadership” in the Indo-Pacific region. … Read more

Biden hails gas prices as part of ‘amazing transformation’

As far as ever, President Biden celebrated a record hike in gas prices on Monday, noting that the pump pain was part of an “amazing transition” for the US economy away from fossil fuels. “[When] It comes to gas prices, we are going through an amazing transformation that will happen, God willing, when it ends, … Read more

Biden draws in Japan who will join the new Asian trade agreement

TOKYO (AFP) – President Joe Biden is set to launch on Monday a new Indo-Pacific trade agreement designed to signal the United States’ dedication to the region and address the need for stability in trade after the chaos caused by the pandemic and Russia’s invasion of Ukraine. The White House says the new Indo-Pacific economic … Read more

Yellen’s global tax plan faces resistance abroad and at home

KOENIGSWINTER, Germany (AP) – Treasury Secretary Janet Yellen marked a “historic day” last summer when more than 100 countries agreed to a global tax deal, aimed at putting the world’s nations on an equal footing in attracting and keeping multinational corporations. President Joe Biden tweeted that the idea was “Diplomacy is reshaping our global economy … Read more

Fuel is a problem for business and consumers – why prices are so high

A sign displays gas prices at a gas station on May 10, 2022 in San Mateo County, California. Liu Guangan | China News Service | Getty Images It’s impossible to overlook the skyrocketing price of gasoline and right in the head of consumers’ minds as big billboards advertise that gas is now $4, $5 and … Read more