The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession.
inflation
Posted inBusiness, Nation & World
Fed unleashes another big interest rate hike in bid to curb inflation
The Federal Reserve’s move will raise its key rate, which affects many consumer and business loans, to a range of 2.25% to 2.5%, its highest level since 2018.
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Posted inBusiness, Local & State, News
At summer’s peak, tourism has been a mixed bag so far in Maine
Visitors are still coming, but higher gas and other prices have some reining in their spending.
Posted inOp-eds, Opinion
Commentary: Why don’t we just meet Joe Manchin in the middle?
While deeply unpopular with his Democratic colleagues, the West Virginia senator hews closer to the views of most Americans than you might think.
Posted inBusiness, Local & State, News
Gas prices decline, but experts unsure if the trend will continue
The average price of regular gasoline in Maine is down 32 cents a gallon from its June peak, with York County reporting the lowest countywide average.
Posted inBusiness
Wholesale inflation in June surged 11.3% from a year ago
The U.S. producer price index – which measures inflation before it hits consumers – rose at the fastest pace since hitting a record in March.
Posted inOp-eds, Opinion
Commentary: If pols can’t make inflation better, they should at least stop making it worse
There’s a time for cutting taxes or distributing relief checks. Now is not one of those times.
Posted inBusiness, Nation & World
Why inflation is so high, and when it might ease
But relief from higher prices might be coming.
Posted inBusiness, Nation & World, News
U.S. inflation surged again in June, raising risks for economy
Lower-income and Black and Hispanic Americans have been hit especially hard.
Posted inBusiness
Did corporate greed fuel inflation? It’s not biggest culprit
Most economists say corporate price gouging is, at most, one of many causes of runaway inflation – and not the primary one.