Low-wage workers — many of whom are educated — stand to gain from the Department of Labor’s proposed new overtime rules. Even if workers may not work more hours, it’s likely the rule could lead to greater employment.
Washington (AFP) — Consumer prices in the United States fell in August for the first time in more than a year, dragged lower by declines in energy, the Labor Department reported Wednesday. The consumer price index fell 0.2 percent on the month. It was the first decline in CPI since April 2013, surprising analysts who […]
Washington (AFP) — The Federal Reserve is expected to maintain its slow march toward a normal monetary stance in its policy meeting Tuesday and Wednesday. But a small, key adjustment to its messaging could confirm growing confidence in the economy. After the surprisingly poor jobs market report for August, pressure has alleviated somewhat on the […]
Washington (AFP) — Consumer prices in the United States rose a bare 0.1 percent in July despite strong gains in food costs, the Labor Department reported Tuesday. The slowdown in consumer inflation after three months of faster gains left the year-on-year consumer price index (CPI) up 2.0 percent, a level the Federal Reserve’s monetary policy […]
CNBC reporter Rick Santelli, whose 2009 rant on the floor of the Chicago Mercantile Exchange helped launch the Tea Party movement, was told that he has been wrong about everything during a heated on-air argument on Monday. After Santelli offered a characteristically heated argument that the Federal Reserve has fallen behind the curve on inflation, […]
David Jolly, the Republican candidate in the special election for the U.S. House in Florida’s 13th congressional district, broke with the caucus he hopes to join this week when he announced his support for raising the federal minimum wage. The Harkin-Miller bill to raise the minimum wage to $10.10 has become a key issue in […]