And just to add extra salt to the wounds of those who are fighting for $15, those corporate mega-chains are increasingly turning to a 21st-century option for ridding themselves of the low-wage worker problem once-and-for-all: automation.
As 2020 came to a brutal end, an unequal K-shaped recovery was interrupted as the pandemic raged on while the government belatedly enacted an incomplete stimulus/relief package.
Once again, it’s time to keep our keen eyes on the target — gold’s and silver’s long-term price appreciation.
With inflation on the rise (you decide whether it’s temporary or ongoing), keeping real interest rates ultra-low, these metals are poised for a ride to the moon and beyond.
Corporate America is shelling out higher wages to employees, and business executives expect to continue doing so.
According to its new quarterly survey released today by the National Association of Business Economists, a record high 58% say they increased pay at their companies during the 3rd quarter.
Just about the same number expects that trend to continue in the months ahead.
Inflation came in like a hot potato last month.
At 6.2% for all items, virtually no economist wants to touch it, politicians just want to play the blame game, and few everyday Americans see a silver lining.
There are always a ton of ways to slice and dice inflation, including what it actually is and the best way to measure it.
One measure of that is the latest JOLTS ratio, showing that for every job opening in September, there was significantly less than one person actually seeking a job.
The 0.7 job seekers available per job is an all-time low, with the exception of one month — April 2019 — when the stat hit 0.69. That’s according to the government’s Job Openings and Labor Turnover report, released last Friday.
Market bull Phil Orlando believes the Fed will raise interest rates six times over the next two years to reign in significant ongoing consumer price increases.
Last week he said, “…we will see two quarter-point rate hikes…in the second half of [2022], and perhaps another four quarter-point rate hikes over the course of [2023].”
In other words, Orlando and his firm, Fidelity Hermes, see the Fed Funds rate rising from its current 0% to 0.25% range to 1.75% to 2.0% two years from now.
Jerome Powell and his colleagues at the Fed are getting advice from a new generation of college students; maybe that’s a group they’ll listen to.
They’re telling them to speed up the tapering, enhance communications with the public and finish their study on digital currency.
For a few minutes every semester or two, the students act as Fed officials and compete to pitch staffers the best direction for the economy.
Never mind the Wall Streeters. Here’s a fresh look from the next generation policymakers.