Mohamed El-Erian: The better news on inflation must be sustained
It is a genuine relief to many — including me — that Wednesday’s U.S. inflation numbers came in
Read MoreCzar Vladimir in Wonderland
The Putin regime has made it all the way down the rabbit hole. Nonsense is now the name of the game, as the Kremlin’s recently drafted media “recommendations” reveal. A few weeks ago, Vladimir Putin
Read MoreThe Hill's Morning Report — With a spring in his step, Biden heads for vacation
President Biden got another sliver of positive news on Wednesday as inflation dipped to 8.5 percent in July after hitting a 40-year high of 9.1 percent in June, highlighted by falling gas prices that finally is giving consumers some relief. The Associated Press: U.S. inflation slips from 40-year peak but remains high. The news was welcome given that Dow Jones economists had been expecting an uptick of 0.2 percent in inflation from June to July.
Read MoreAverage US gas price falls below $4 per gallon
The average national price of gasoline fell below $4 per gallon on Thursday for the first time since March, according to the American Automobile Association (AAA). The drop represents a dip of more than $1 since prices peaked in June at about $5.02. Experts say they expect gasoline prices to continue to fall. Andrew Lipow, president of Lipow Oil Associates, told The Hill that he expects an additional decline of about 5 cents per gallon in the coming weeks, a
Read MoreHistoric debt relief program for farmers of color takes hit after discrimination suits
Congress is on the verge of rolling back a significant debt relief program intended to provide aid to farmers of color after the Democratic-led effort hit a roadblock last year following legal challenges brought by white farmers claiming discrimination. Democrats are planning to repeal the program in a sprawling economic package the party could pass as early as this week. But there are new plans to put more than $5 billion toward helping farmers whose operations are deemed at “at financial risk,” as well as those who have faced discrimination.
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