The Fed commits even more to inducing a ‘growth recession’ as it raises interest rates at an extra-fast pace for the third time in a row
The central bank raised its benchmark interest rate by another 0.75 percentage points on Wednesday, marking the third consecutive hike of that size.
There’s a ‘very high likelihood’ of a growth recession as the Fed’s inflation fight ramps up, Powell says. It means the end of the Great Resignation and fewer raises at work.
The Fed is poised to keep raising interest rates well into 2023. “Times are going to get tougher from here,” strategist Seema Shah said.
Ginni Thomas, wife of Supreme Court Justice Clarence Thomas who urged Arizona officials to overturn election result, plans to testify before Jan. 6 committee: CNN
Virginia “Ginni” Thomas, a conservative activist, previously sent messages to Mark Meadows and Arizona officials to overturn the 2020 election result.
A massive four-day work week trial in the UK began in June. Now halfway through, many of the companies involved say it’s been a boon for business and workers alike.
Of the participating companies that responded, 86% are “likely” or “extremely likely” to consider keeping a four-day work week after the trial ends.
Categories: Economics/Class Relations