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Grand Canyon (United States) (AFP) - Joe Biden used the backdrop of the Grand Canyon Tuesday to champion the climate fight -- and distinguish himself from the Republican right -- by designating large swathes of surrounding sacred land with protective status. The US president, kicking off a three-day tour of the American southwest, pumped his fist after signing into existence the country's newest national monument, with Native Americans dressed in traditional outfits and headdresses standing at his side. "Folks, preserving these lands is good not only for Arizona (and) for the planet. It's good...
AFP
Washington (AFP) - US annual inflation slowed slightly in August, largely thanks to falling gasoline prices -- but likely not enough to satisfy the Federal Reserve and President Joe Biden, as high prices continue inflicting pain on Americans. The consumer price index (CPI), a key measure of inflation, actually rose 0.1 percent in August compared to July, when prices were flat, the Labor Department said Tuesday, a disappointing result amid widespread expectations that inflation would fall in the month. The annual inflation pace improved to 8.3 percent, higher than expected but slightly below t...
AFP
Washington (AFP) - Red-hot US inflation cooled slightly in July, which could open the door for the Federal Reserve to dial back its aggressive interest rate hikes while bringing a much-needed boost to President Joe Biden just months before crucial midterm elections. Helped by the drop in energy costs dropping in recent weeks, the annual consumer price index dipped to 8.5 percent last month, the Labor Department reported Wednesday, lower than markets were projecting. That 12-month increase soared 9.1 percent in June, the highest in 40 years, fueled by aggressive consumer spending of pandemic sa...
AFP
Washington (AFP) - Is inflation finally slowing down in the United States? Inflation data due to be released Wednesday is expected to show at least a partial cooling down of consumer prices and bring a breath of fresh air for US President Joe Biden just months before crucial midterm elections. Fueled by aggressive consumer spending of pandemic savings, global supply chain snarls, domestic worker shortages, and Russia's war on Ukraine, inflation reached 9.1 percent in June, year over year, the highest in 40 years. But it is expected to fall to 8.6 percent in July, according to MarketWatch. Whit...
AFP
Washington (AFP) - Her shopping cart is overflowing with food, but there is no trace of steak. "Too expensive," said Lisa, a 48-year-old mother, as she left a Giant supermarket in Washington. In the United States, land of barbecues and steakhouses, beef is becoming a luxury. Overall consumer prices rose by seven percent over the course of 2021, an inflation rate not seen since 1982, and the data for January, due out Thursday, is expected to show the yearly increase continued. American shoppers saw prices for meats, poultry, fish and eggs jump 12.5 percent last year, while beef has soared by ...
AFP
Arlington (United States) (AFP) - The used car market in the United States is seeing an unprecedented phenomenon: owners selling vehicles for as much or more than they paid for them. The strange twist comes as a global shortage of computer chips amid the Covid-19 pandemic has stalled auto manufacturing, fueling a price increase for used vehicles, which in turn helped drive record US inflation last year. It "100 percent is a new trend," which is unlikely to end soon, said Aurelien Guillaud, owner of Arlington Auto Group (AAG), a car dealership based in Arlington, Virginia, just outside the nati...
AFP
Washington (AFP) - Holiday events have been scrapped in droves, thousands of flights canceled, cruises are now off limits: the Omicron variant has wreaked havoc in the United States, and the new year could see more issues exacerbating the worker shortage and price increases. "We are starting to see some initial signs that Omicron is having an impact on the economy, mainly in the sectors where face to face interactions are most important," in particular service sector businesses like bars and restaurants, Oren Klachkin of Oxford Economics told AFP in an interview. The world's largest economy ha...
AFP
Washington (AFP) - American workers are quitting their jobs by the millions every month taking advantage of new opportunities created by the pandemic recovery, and creating an unprecedented labor shortage for companies. In October, 4.2 million Americans resigned, after 4.4 million in September and 4.3 million in August, according to data from the Labor Department. Meanwhile, new applications for unemployment benefits last week fell to just 184,000, the lowest level since September 1969, the Labor Department said Thursday. There are 11 million job openings, and the number of vacancies is peak...
AFP
Washington (AFP) - The Chinese economy, weighed down by electricity shortages and a vast real estate crisis, has lost its luster recently, to the point where economists are starting to question its impact on the global growth it has helped drive for more than 20 years. The difficulties of the real estate sector in China triggered by the troubles of giant Evergrande could pose risks for the world economy and affect the United States, the Federal Reserve warned in its report on financial stability released Monday. That is a marked change of tone from September, when Fed Chairman Jerome Powell s...
AFP
Washington (AFP) - It's back to school time in America after a year of remote learning, but forget about the iconic yellow school bus: because of Covid, there is a shortage of drivers. The problem -- among other issues -- is that some drivers oppose mask-wearing mandates, and others, who are older and do this kind work after retiring from other jobs, are worried about catching the virus while driving kids around, education officials said. The Minneapolis area of Minnesota, for instance, has warned that school bus service this year will be sporadic because of what it called a driver shortage be...
AFP
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