(Reuters) -JPMorgan Chase CEO Jamie Dimon expressed confidence in a robust U.S. economy backed by strong employment and healthy consumer finances. The U.S. economic boom is "unbelievable," Dimon said at an Economic Club of New York event on Tuesday. Dimon, who has run the largest U.S. lender for more than 18 years, has cautioned that inflation could be more persistent than expected, keeping interest rates higher for longer.
‘Our work now is making us sick and poor,’ professor says
U.S. economic growth in the first quarter fell below the Federal Reserve's estimates of the economy's long-run potential for the first time in nearly two years, but the signs of slowing were accompanied with fast inflation that, if sustained, would pose a particular dilemma for the central bank.
OPINION The last time New Zealand experienced a brain drain on anything
Netflix will stop disclosing the number of people who signed up for its service, as well as the revenue it generates from each subscriber from next year, the company announced on Thursday. It will focus, instead, on highlighting revenue growth and the amount of time spent on its platform. “In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential,” the company said in a letter to shareholders. “But now we’re generating very...
To the editor: Your article on why citizens do not credit President Biden for improving the economy missed the most obvious explanation. More than half of us make less than the average U.S. income, but all of us pay almost 20% more in prices and sales taxes than we did before Biden's presidency. And those wage gains the article mentioned come with higher income tax rates that take away part of the gain. As for post-pandemic job creation, no, Biden didn't do that. We got our jobs back because the...
The great Winston Churchill was reputed to have observed, "If a man at twenty is not a liberal, then he has no heart. If a man at forty is not a conservative, then he has no brain." That's an apocryphal statement, of course, but that doesn't mean it's untrue. Younger people tend to skew more politically to the left than their elders - at least, if you look at the broad strokes. But there is also a political pendulum that swings back and forth; as recently as the '80s, there was a trend wherein...
In battleground states, environmental activists like Dr. Emily Church are canvassing on behalf of the Environmental Voter Project in an effort to turn out people
Voters warming to Biden economic recovery but worry about gas prices
The sweeping foreign aid package passed by congress has drawn the ire of China, but billions of dollars will actually stay in the USTaiwan’s president Tsai Ing-wen has praised the US Congress for passing a sweeping foreign aid package this week which included arms support for the island, and has drawn the ire of China.After months of delays and contentious debate, the bill was signed into law by Joe Biden on Wednesday. Described as $95bn in aid for Ukraine, Israel and Taiwan, the legislation...
The US economy slowed far more than expected in the first quarter of the year as its gross domestic product (GDP) endured the influence of stubborn inflation and high interest rates.
By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — The U.S. economy is thought to have extended its surprisingly healthy streak at the start of this year, with consumers still spending freely despite the pressure of high interest rates. The government is expected to report that the gross domestic product grew at a slow but