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News & Articles By Mary Villareal
10/22/2021
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By Mary Villareal
Cargo ship backlogs in California hit record high as supply chain crisis worsens
Cargo ship backlogs at the Ports of Los Angeles and Long Beach have hit record high as the supply chain crisis continues. On Monday, Oct. 18, the Marine Exchange of Southern California reported 100 vessels berthed at those ports, topping the previous record of 97 set last Sept. 19. Both figures are a lot higher than the 17 ships […]
10/19/2021
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By Mary Villareal
Natural gas shortages prompt power plants to switch to oil
Natural gas and coal prices have pressured power-generation companies to switch to using oil, which could mean an additional half-million barrels a day added to the global oil demand. In its monthly market report, the International Energy Agency (IEA) has increased its global oil demand forecasts for the year and the next by 170,000 and 210,000 […]
10/15/2021
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By Mary Villareal
Senior Federal Reserve official says “transitory” inflation is not actually transitory
The consumer price index (CPI) suggests that the “transitory” inflation floated by the government is not actually transitory. According to a senior official at Federal Reserve, the biggest burst in U.S. inflation in three decades is likely to last longer than expected and it should no longer be considered transitory. Atlanta Federal Reserve President Raphael […]
10/01/2021
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By Mary Villareal
Power shortages in China may cause world food and commodities prices to surge
China is looking at a difficult harvest season as a severe energy crunch hurts the outlook for production — a development that can trigger another surge in food prices. The autumn harvest in China is underway, but with power shortages in industrial hubs, authorities see slow processing growth. This is especially true in the northeastern provinces of Jilin, […]
09/29/2021
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By Mary Villareal
Tech companies amass large portfolios of new properties during pandemic
The biggest U.S. companies are sitting on huge piles of cash, and they are running out of ways to spend it. So now, they are putting their money in a lot of commercial real estate. Last week, Google announced that it would purchase a Manhattan office building for $2.1 billion. This is only the latest in […]
09/16/2021
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By Mary Villareal
Dems planning a $3 trillion tax hike on working families, small businesses
Democrats are proposing an almost $3 trillion increase in taxes on small businesses and working families. This is the largest tax increase since 1968 in terms of the size of the economy, and the largest tax increase ever in nominal dollars. The total slate of proposed tax increases is still in its preliminary estimate; however, […]
09/14/2021
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By Mary Villareal
The Federal Reserve hides price inflation, but why?
Federal Reserve Chairman Jerome J. Powell says that he supports “tapering” toward the end of the year, adding that interest rate hikes are a long way off. By tapering, he means that the central bank should reduce its monthly purchases of bonds and slow down the monthly increase in the quantity of money. Even with […]
09/05/2021
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By Mary Villareal
McDonald’s now resorting to child labor to resolve “staffing issues”
A McDonald’s in Oregon was seen displaying a banner asking 14- and 15-year-olds to apply for work due to “staffing issues.” The store’s operator, Heather Coleman, explained that raising the minimum wage didn’t attract new applicants; however, lowering the hiring age to 14 brought in about 25 new applicants in two weeks. She stated that […]
08/23/2021
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By Mary Villareal
Over 7M Americans to lose unemployment benefits after Labor Day
More than 7 million Americans will lose their benefits as a September deadline calls an end to federal pandemic unemployment aid programs with dim prospects for an extension due to the surging labor demands in the United States. The benefits program was initially created to help Americans cope during the worst of the economic impact of […]
08/11/2021
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By Mary Villareal
US businesses looking to fill 10M job openings as economy reopens
Employers are looking to fill 10 million job openings with fewer workers than jobs available. Last week, the Department of Labor reported that around 8.7 million potential workers who are looking for jobs counted among the unemployed. At the same time, the job placement site Indeed estimates that there are about 9.8 million job vacancies as of July 16, […]
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