As donations drop and Maine food banks struggle to meet rising demand, food bank officials call on federal government to extend food access programs.
inflation
Posted inMaine Voices, Op-Eds, Opinion
Maine Voices: The Inflation Reduction Act is better than you might think
Critics say increased inflation means we can’t afford its measures. In fact, the cost of not taking climate action would far exceed the legislation’s incentives.
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Posted inBusiness, Nation & World, News
Inflation eases as consumer prices rise 6.3% in July
Inflation started rising sharply in the spring of 2021 as the economy rebounded with surprising speed from the short but devastating coronavirus recession a year earlier.
Posted inBusiness, Nation & World, News
Chairman Powell says Fed could keep lifting rates sharply ‘for some time’
Stocks tumbled after Jerome Powell’s remarks, and bond yields rose, a sign that investors foresee more large interest rate hikes ahead.
Posted inBusiness, Nation & World, News
Macy’s, Nordstrom cut profit views along with inventories
Both retailers are suffering from an affliction plaguing most of their competitors: A glut of unsold inventory that they’re resorting to pricing at deep discounts to move.
Posted inBusiness, Uncategorized
Struggling Americans feel they are in a recession, Bank of America CEO says
Brian Moynihan says the recent debate over whether the U.S. economy is technically in a recession or not is missing the point.
Posted inBusiness, Uncategorized
U.S. retail sales were flat in July as inflation takes a toll
Persistently high inflation and rising interest rates forced many households to spend more cautiously.
Posted inBusiness
Lowe’s becomes latest employer to give workers inflation bonuses
Other businesses around the United States have been offering workers bonuses and gift cards to offset the cost of gas.
Posted inBusiness, Nation & World
Inflation Reduction Act may have little impact on inflation
Lower deficits usually lower inflation but the Congressional Budget Office determined this month that the changes would have a ‘negligible’ impact this year and next.
Posted inBusiness, Nation & World, News, Uncategorized
Inflation Reduction Act may have little impact on inflation
The legislation won’t directly address some of the main drivers of surging prices – from gas and food to rents and restaurant meals.