The economy grew 3.4 percent in the third quarter, the fastest pace in a year. Strong spending and growth contrast with the poor marks many voters are giving the economy.
The Personal Consumption Expenditures index picked up in September, according to data released a day after the Federal Reserve’s decision to hold interest rates steady.
Growth is in sharp contrast to households’ assessment, reflected in Trump’s record-low approval ratings
The US economy grew faster than expected in the third quarter as resilient consumer spending and AI-driven business investment more than offset the impact of higher oil prices stemming from the conflict in the Middle East.
Gross domestic product (GDP) increased at a 3.4% annualized rate last quarter, the commerce department’s bureau of economic analysis said in its advance estimate of the third quarter GDP on Thursday. Economists polled by Reuters had forecast GDP advancing at a 3.2% pace.
In advance of the midterms, Trump is blaming Kyiv for high gas prices while making clear moves to support Russia
As the US midterms approach, Donald Trump is abandoning Ukraine’s democracy in a desperate effort to deny responsibility for worsening inflation. Yet this past weekend’s dramatic elections in Brazil and Serbia show that voters can see through such subterfuge.
There is nothing like a political party’s corruptindifference to the plight of ordinary people to galvanize voter turnout. If US voters follow in the footsteps of their Brazilian and Serbian counterparts, a Democratic landslide is likely.
Anthony Albanese has ruled out major cuts to health, education and essential services in December’s mid-year budget update, but conceded savings are required as Labor struggles to curb accelerating inflation.
Amid growing pressure from within Labor’s own ranks, as well as from the opposition and business, Albanese said the Coalition was hypocritical in not supporting existing savings proposals, including the government’s plan to reduce the private health insurance rebate for people over 65.
Gas reservation policy set for lower house vote today
Australia’s domestic gas reservation is set to be debated and voted on in the lower house today.
Rather than international base companies, determining through algorithms what Australians receive, it empowers people themselves to determine what you receive on your devices, so that you should have that control.
This isn’t about government having a greater role. It’s about people having a greater role, having more control themselves, and it’s deserving of support of this parliament.
Fed chair Kevin Warsh said politics played no role in pause of interest rate hikes, despite inflation remaining above 3%
The US Federal Reserve left interest rates unchanged on Wednesday during its last board meeting before the midterm elections, keeping rates at one of the highest pre-election levels seen in over 20 years.
Two out of 12 board members voted against the pause, preferring to raise rates by a quarter point this meeting, the Fed board said in a statement.
Online hate is spilling into the real world, AFP warns
AFP Commissioner KrissyBarrett began her late-night appearance at the Senate estimates hearing noting “a heaviness that hangs across Australia” after the alleged attack on independent MP HelenHaines.
Lone actors are being motivated by a convergence of personal grievances, mental health vulnerabilities and ideological concerns …
What helped keep us safe in recent times, such as our geography, analogue systems and far away criminals, has been impacted by fully integrated technology, social media and artificial intelligence.
We hear about the devastating impacts of racism from communities every day. But many experiences go unreported or uncounted, and our systems often do not capture the full picture.
This is not about collecting more data to prove racism exists. We already know it does. It is about making inequality visible, holding institutions to account and giving communities greater agency over their data to drive real change.
Kevin M. Warsh, chairman of the Federal Reserve, said that the central bank had more work to do to tame inflation, but that there was no urgency to raise rates at consecutive meetings.
Kevin M. Warsh, chairman of the Federal Reserve, said that the central bank had more work to do to tame inflation, but that there was no urgency to raise rates at consecutive meetings.
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