A look at the past three recessions
Economists are warning the U.S. might be headed toward a recession after the stock market plunged into bear market territory this week and inflation hit a 40-year high last month. A recession is defined as a significant decline in economic activity across the economy, usually for more than a few months. A recession stretches from the time the economy hits its apex to when it bottoms out, with the path from "trough" to "peak" called an expansion, or a normal state of the economy. The U.S. has experienced 13 serious recessions in the past 75 years and the average recession
Read MoreBiden must reverse course and protect independent contractors
The Biden Department of Labor has announced that it is kicking off a rulemaking period to address the “misclassification of employees as independent contractors.” The DOL is hosting a two-hour forum for workers and employers to weigh in on any potential changes to the independent contractor classification. With this new rulemaking period, the administration has a chance to turn the page on its stridentl
Read MoreTrump lawyer Eastman takes verbal beating during Jan. 6 hearing
John Eastman, the controversial lawyer who unsuccessfully pressed Mike Pence to overturn the results of the 2020 presidential race, took center stage at the Jan. 6 panel’s third hearing on Thursday that was focused on the pressure campaign against the former vice president. Eastman emerged in the weeks between the 2020 election and the Jan. 6 riots as one of the most influential voices in Trump’s circle, pushing a dubious claim that the vice president had the authority to reject electors and determine the election winner independently. He appeared at the Jan. 6 rally on the Ellips
Read MoreNewsom joins Trump’s Truth Social to call out 'Republican lies'
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Read MoreCar payments hit new high of $712 a month
Monthly car payments hit a new record high in May, averaging $712, according to a new report from Cox Automotive & Moody's Analytics. The figure marks a 1.7 percent increase and represents a declining trend in new car affordability, the report notes. New car affordability is significantly down from this time last year. In May, the average number of weeks of income needed for someone to purchase a new car was 19
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