Like the president, the Fed wants to slow inflation without knocking the U.S. economy into recession, a highly sensitive mission.
inflation
Posted inBusiness, Food & Dining, Local & State
No shell, big shock: Maine lobster rolls fetch record prices this season
Lobster lovers can expect to pay in excess of $40 for a single roll at some of the state’s most popular summer eateries. The average price is closer to $30.
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Posted inBusiness, Local & State, News
Despite record gas prices, Memorial Day travel surge expected in Maine
With prices at the pump hovering above $4.70 a gallon, travelers and residents alike plan to take to the road for the traditional start of Maine’s peak tourism season.
Posted inBusiness
Consumers defy inflation to support economy. For how long?
Consumers as a whole are showing surprising resilience, not only sustaining their spending but increasing it even after adjusting for inflation.
Posted inOp-Eds, Opinion
Maine Republican Party vice chair: Democrats aren’t taking our state in a good direction
From the gas pump to the doctor’s office, the majority party in Augusta is intent on draining Mainers’ wallets, Shane Reitze says.
Posted inBusiness, Nation & World, News
U.S. inflation dips from four-decade high but still causing pain
Wednesday’s report on consumer prices contained some cautionary signs that inflation may be becoming more entrenched.
Posted inNation & World, Politics
Biden pushes ‘ultra-MAGA’ label on Republicans as he defends his record
The president acknowledges that he could ‘taste’ the country’s dissatisfaction with Washington, particularly over rising prices, but he tries to channel the anger against the Republican Party.
Posted inBusiness, Local & State
Maine launches website to explain relief check rules
The site answers questions about the $850 checks that will be sent to many Mainers beginning in June.
Posted inNation & World
UN says Ukraine war threatens to devastate many poor nations
Before Russia’s invasion of Ukraine on Feb. 24, prices were already on the rise, ‘but the war has made a bad situation worse,’ U.N. Secretary-General Antonio Guterres said.
Posted inBusiness, Nation & World
U.S. inflation jumped 8.5% in past year, highest since 1981
Some economists suggest that inflation is at or near its peak, but it could take time to come back down.