Biden vows Russia’s Putin will ‘pay a price’ for election meddling: ABC News
WASHINGTON (Reuters) – President Joe Biden said Russian President Vladimir Putin will face consequences for directing efforts to swing the 2020 U.S. presidential election to Donald Trump, and that they would come soon. “He will pay a price,” Biden told ABC News in an interview that aired on Wednesday. Asked what the consequences would come, […]
Dollar wobbles after Fed pushes back against rate hike speculation
TOKYO (Reuters) – The U.S. dollar was on the defensive on Thursday after the Federal Reserve signalled it was in no hurry to raise interest rates through all of 2023 even as it saw a swift recovery in the world’s largest economy. The dollar’s index against six major currencies stood at 91.488. It had hit […]
Recovery bets support stocks as Fed comes in focus
MILAN/TOKYO (Reuters) – World shares inched higher while U.S. bond yields hovered near a 13-month peak on Monday on bets economic growth would accelerate even though investors became wary of the Federal Reserve and other key central bank meetings in the days ahead.
Biden to name Gene Sperling to lead COVID-19 relief plan: administration official
WASHINGTON (Reuters) – U.S. President Joe Biden will name Gene Sperling to lead implementation of the $1.9 trillion COVID-19 relief plan, one of the largest economic stimulus measures in American history, an administration official said on Sunday.
Rubio first U.S. Republican senator to support union push at Amazon.com
WASHINGTON (Reuters) – U.S. Senator Marco Rubio on Friday became the first high-profile Republican lawmaker to support a growing push to unionize Amazon.com Inc workers in Alabama, after several Democratic lawmakers visited the company’s facility last week.
Presidential Material: Life Lessons with Bellamy Young
NEW YORK (Reuters) – The United States may not have had a woman president quite yet, but on TV it certainly has. One of those was Mellie Grant, the character played by Bellamy Young on the Shonda Rhimes hit “Scandal” before it ended last year. Now one of the stars of the Fox show “Prodigal […]
Local hero: Florida hotelier Harris Rosen keeps his giving close to home
NEW YORK (Reuters) – Harris Rosen has a chain of eight hotels bearing his name in the Orlando area, but he makes most of his headlines these days for giving away his fortune. The 80-year-old entrepreneur of Rosen Hotels & Resorts, who grew up on the Lower East Side of New York, adopted the Tangelo […]
Farm product prices, redistribution, and the early Great Depression in the US
Like the current economic crisis in the US, the Great Depression led to large redistributions of income among sectors and households. Perhaps most important, falling farm product prices shifted income away from farmers. This column argues that this redistribution explains between 10% and 30% of the US output decline in 1930. Recovery from the Great Depression began in 1933 in part because farm product prices rose, reversing this redistribution.
