Trump announced that he’ll sign an executive order today that will lower drug costs in the US. ““I will be instituting a MOST FAVORED NATION’S POLICY whereby the United States will pay the same price as the Nation that pays the lowest price anywhere in the World,” the president posted Sunday on his social media […]
Some select facts about the Treasury Department Functions. This includes the size of it, currency, national banks, costs of tax collection, budget, etc. The latter of which make the Treasury the third largest department fund wise. Some interesting graphs depicting functions. What does the Department of the Treasury do? USAFacts Last month, a federal judge […]
Looking at the impact of Mike Johnson and the House proposal of cutting Medicaid will have an impact. Meanwhile, Trump is expecting cuts so as to keep the 2017 tax cuts of which a major portion went to the upper one-percent in income. Estimate “seems low” — KFF’s Larry Levitt, Brookings‘ Matt Fiedler, and Georgetown’s […]
– by New Deal democrat Initial jobless claims returned to a well-behaved range this week, down -13,000 to 228,000. The four week moving average was in line, increasing 1,000 to 227,000. Continuing claims, with the typical one week delay, declined -37,000 to 1.879 million, which is still near the top end of their 12 month range: […]
– by New Deal democrat Let’s take a belated look at some of the more important datapoints that came out of last Friday’s employment report for April. To start with, as I’ve mentioned numerous times, frequently service jobs (blue in the graph below) continue increasing all the way through recessions. It is goods producing jobs (red) […]
Some old guy handed over a damaged economy in January. The economy was definitely in a failure mode. The economy is heading into very bad weather. Brace yourselves. “Prices and unemployment are heading up. Everything else is going down,” Robert Reich Today, the Federal Reserve decided to leave interest rates where they are, at 4.25 […]
“A drop in Canada-U.S. travel has led Calgary-based WestJet to cancel more flights south of the border. “The airline says it is suspending flights from Vancouver to Austin until October. “Flights to other destinations, including Orlando, Los Angeles and Chicago will also be halted at different times between June and August. “WestJet says it is […]
For decades, the United States has been the world leader in scientific research. Even as China has been catching up, the US has managed to remain a magnet for scientists world-wide, and its universities are the most desirable destinations for undergrads and graduate students. Until now. “There are significant economic consequences to spiking medical research […]
As everyone should know, tariffs are just consumption taxes. Other countries don’t pay them. Importers don’t pay them. The extra cost is just added to the retail price. “As of 12:01 am ET on Saturday, most auto part imports will come with a 25% import tax. “The previous auto tariffs left US-made cars untouched. Not […]
As presented: – by Bill McBride CalculatedRisk Newsletter Here is the ICE April Mortgage Monitor report (pdf). Press Release: ICE Mortgage Monitor: First-Time Homebuyers Comprise Record Share of Agency Purchase Lending in Q1 2025 Intercontinental Exchange, Inc. … today released its May 2025 Mortgage Monitor Report, which delves into the rising share of first-time and Gen Z homebuyer […]