Tag: Prices (Fares, Fees and Rates)

November 2021 Jobs Report: A Gain of 210,000

Employers recorded the year’s weakest hiring in November, adding only 210,000 jobs on a seasonally adjusted basis, the Labor Department said Friday. Economists had expected the number to be above half a million for the second straight month. The shortfall was particularly stark given that the data was collected before the emergence of the Omicron […]

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In Biden’s Plan for Free Rapid Tests, Legwork Will Be Required

Over-the-counter rapid coronavirus tests will soon become a much bigger part of the Biden administration’s response to the pandemic and the new Omicron variant. After a primary focus on vaccination, the White House announced on Thursday that private health insurers would soon have to reimburse patients for such tests. It also said it would make […]

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OPEC Faces Omicron Uncertainty and Rebellious Customers

One thing is for certain when officials from OPEC, Russia and other oil-producing countries meet by teleconference on Thursday to decide how much oil to produce in January. They will want to try to make sure that last Friday’s sudden, sharp collapse in oil prices — a drop of more than 10 percent within a […]

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Supply-Chain Kinks Force Small Manufacturers to Scramble

For example, when companies moved production from the United States to China in the past, they paid for the shift with the savings gained in going from a high-cost area to a cheaper locale. Doing the reverse might make sourcing and production easier, but there’s no cost savings to fund it. “We are not going […]

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Supply Chain Shortages Help a North Carolina Furniture Town

HICKORY, N.C. — Six months into the coronavirus pandemic, as millions of workers lost their jobs and companies fretted about their economic future, something unexpected happened at Hancock & Moore, a purveyor of custom-upholstered leather couches and chairs in this small North Carolina town. Orders began pouring in. Families stuck at home had decided to […]

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A Holiday Gift Guide to Beat Inflation

If groceries, gas or automobiles were any part of your budget this year, inflation has hit you hard. Now perhaps you want to keep the gift budget in check. Then again, maybe you haven’t seen your relatives in a long while, and you’d rather not be anything less than generous. So here’s a challenge — […]

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End the Trump-Biden Tariffs

Stoughton opened its Evansville plant in 1993 to build the intermodal containers and chassis that are the basic infrastructure of global trade. It prospered until the early 2000s, when China International Marine Containers started offering chassis in the United States at a price lower than what Stoughton paid for raw materials. The Wisconsin company largely […]

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Biden to Tap Into U.S. Oil Reserves to Combat Rising Gas Prices

WASHINGTON — Working in concert with five other countries, President Biden on Tuesday ordered the release of oil from the nation’s emergency stockpile as Americans face rising gas prices amid a jump in inflation ahead of the holiday season, according to senior administration officials. The administration will tap into 50 million barrels of crude in […]

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As Virus Cases Rise in Europe, an Economic Toll Returns

“It was a shock” when the lockdown was announced, she said, adding that it was too early to predict the scale of the losses she could incur. “We just have to accept it.” For Daniel Zieman, who ran a gift stand across the square between Vienna’s Natural History and Art History Museums, the story was […]

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Inflation Batters Pakistan and Puts Pressure on Imran Khan

Muhammad Nazir canceled his daughter’s wedding. He parks his motorcycle at home and walks to his shop. Many of his shelves are empty because he can’t afford to stock the same supply of candy, soft drinks and cookies that he once did. A growing number of his customers can’t buy his snacks anyway. The global […]

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How Higher Prices This Holiday Season Could Cost Democrats, Too

The president’s recent tour of ports, bridges and auto plants — which was meant to promote the infrastructure legislation — was overshadowed in part by inflation anxieties. As he test drove an electric Hummer at a General Motors plant in Detroit this week, his message of a future of zero-emission vehicles was eclipsed by a […]

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High Gas Prices Force Sacrifices, Like Travel and Dining Out

A driver in Belleville, N.J., cut his cable and downsized his apartment to save money for gas. A retiree in Vallejo, Calif., said he had stopped driving to go fishing because the miles cost too much in fuel. An auto repairman in Toms River, N.J., doesn’t go to restaurants as often. And an Uber Eats […]

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Inflation and Retirement: How to Protect Your Savings

“We did not invest all of Mom’s money in this product,” Ms. Cheng said. “We only invested a portion of her I.R.A. and her inherited I.R.A. We did this to address market risk, inflation risk and longevity.” (These additional contracts are often expensive, and additional features increase the cost of an annuity contract. The living […]

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Is iBuying Here to Stay?

The Post-Zillow Fallout In Tampa, Fla., Gary Byrd, 59, a campus facility supervisor at a community college, had recently gotten engaged and was looking to sell his 1,200-square foot, three-bedroom, two-bathroom house, so he could move in with his fiancée, who had a larger home. Mr. Byrd wanted a transaction that was quick and easy, […]

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Leasing a Car? Here’s Why You Can Get a Good Deal if You Buy.

For drivers with leases, the gap between the projected price and current market price may be substantial. The auto search website iSeeCars recently compared current prices for three-year-old cars and estimated buyout values of new models leased in 2018 and found that the average car may be worth 36 percent more than the value estimated […]

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Retail Sales Jumped 1.7 Percent in October

“Everybody believed during 2021 that we’d see a significant shift away from goods back to services as the economic environment opened up as we got our arms around the pandemic,” Craig Menear, Home Depot’s chief executive, told analysts after the company reported its earnings Tuesday. “Clearly, we have not seen that.” Strong October sales may […]

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Oil Output Is Increasing, Possibly Easing Prices, a Report Says

The International Energy Agency said Tuesday that oil supplies were catching up with demand, potentially easing upward pressure on prices. The agency, which is based in Paris, said that the oil market remained “tight by all measures, but a reprieve from the price rally could be on the horizon.” A drop in oil prices would […]

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With Gas Prices High, Calls Grow to Tap Strategic Oil Reserve

As gasoline prices and inflationary pressures have climbed in recent weeks, calls have been growing in Congress for the Biden administration to tap into the nation’s Strategic Petroleum Reserve. The Senate majority leader, Chuck Schumer, added his voice over the weekend. “We need immediate relief at the gas pump, and the place to look is […]

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The M.T.A. Will Avoid Immediate Fare Hikes and Service Cuts

The transit agency that oversees New York City’s subway, buses and two regional commuter rails will postpone fare increases for at least six months and defer drastic service cuts now that it anticipates receiving billions of dollars from the federal infrastructure bill, officials said on Monday. Hours before President Biden was expected to sign the […]

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The MTA Will Avoid Immediate Fare Hikes and Service Cuts

The transit agency that oversees New York City’s subway, buses and two regional commuter rails will postpone fare increases for at least six months and defer drastic service cuts now that it anticipates receiving billions of dollars from the federal infrastructure bill, officials said on Monday. Hours before President Biden was expected to sign the […]

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Will Real Estate Ever Be Normal Again?

Then there was a 35-year-old tech worker in Long Beach, Calif., who bought a house in Round Rock for $300,000 last October. By January 2021, it was worth roughly $400,000; in February, he bought two more. His winning bids were two of dozens that his real estate agent, a former equities trader who now works […]

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Consumers Are Resisting Inflation

The Consumer Price Index rose 6.2 percent in the 12 months through October, the worst inflation since 1990 and a jump from the annual price growth rate of 1.9 percent over the previous decade. The good news is that consumers are putting up a fight against it. That’s clear in the chart below, which is […]

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History Says Don’t Panic About Inflation

Back in July the White House’s Council of Economic Advisers posted a thoughtful article to its blog titled, “Historical Parallels to Today’s Inflationary Episode.” The article looked at six surges in inflation since World War II and argued persuasively that current events don’t look anything like the 1970s. Instead, the closest parallel to 2021’s inflation […]

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Biden Says Spending Bill Will Slow Inflation. But When?

Rocketing inflation has become a headache for U.S. consumers, and President Biden has a go-to prescription. He says a key way to help relieve increasing prices is to pass a $1.85 trillion collection of spending programs and tax cuts that is currently languishing in the Senate. A wide range of economists agree with the president […]

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October 2021 CPI: Inflation Rose at Fastest Rate Since 1990

The reality that inflation is broadening — and spreading to slow-moving categories like rent rather than staying confined to pandemic-disrupted ones like imported electronics and airplane tickets — could unsettle Fed policymakers, because it increases the risk that price pressures could last. That’s especially true as labor proves scarce and participation in the job market […]

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Winter Heating Bills Loom as the Next Inflation Threat

Last week, the Biden administration released 90 percent of the $3.75 billion in funds dedicated to the Low Income Home Energy Assistance Program, which provided an average of $439 to more than five million families the year before the pandemic. It received $4.5 billion in additional emergency grants this year. Usually, funding for the program […]

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Americans Are Flush With Cash and Jobs. They Also Think the Economy Is Awful.

Americans are, by many measures, in a better financial position than they have been in many years. They also believe the economy is in terrible shape. This is the great contradiction that underlies President Biden’s poor approval ratings, recent Republican victories in state elections and the touch-and-go negotiations over the Biden legislative agenda. It presents […]

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The Price of Living in ‘Paradise’ Is Higher Than Ever

This article is part of our latest special report on Waterfront Homes. Hawaii has long been a dream destination for wealthy home buyers from the United States mainland. But that has probably never been more true than now. “From the second half of 2020, into 2021, luxury sales volume in the state of Hawaii grew […]

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Democrats Choosing Less Risky Path on Drug Prices

Venture firms that invest in biotech now don’t necessarily have to. Their money could just as easily go into other profitable sectors of the economy, like technology. Early stage drug companies are funded, in part, because America’s high drug prices mean that a successful drug will be worth a huge jackpot. Since the rest of […]

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Workers’ Pay Is in a Tug of War With Inflation

And an update to that gauge on Friday showed that wages climbed 0.4 percent in October, which is roughly in line with recent monthly price increases. Over the past year, that measure is up by 4.9 percent. But the data on hourly earnings have been distorted by the pandemic, because low-wage workers who left the […]

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Federal Reserve Announces Plan to Slow Bond Buying Program

Federal Reserve officials took their first major step toward withdrawing monetary policy support as the economy heals from pandemic disruptions, laying out a plan to slow their asset buying program as they struck a slightly more worried tone about rapid inflation. “In light of the substantial further progress the economy has made toward the committee’s […]

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