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The Latest Breaking News from Inflation

Harris breaks deadlock in “vote-a-rama”

The Senate worked through the night making steps on the bill that will then go on to Biden to sign into law

Salon

Voters aren’t the only ones feeling the effects of inflation

High inflation isn’t just a political messaging point to some candidates running for office. The cost of gasoline, travel, staff pay, printed materials and food for events all affect the bottom lines of campaigns.

Tribune News Service

RJD holds 'Pratirodh' yatra over inflation, unemployment in Patna

Rashtriya Janata Dal (RJD) workers on Sunday held a 'Pratirodh' march in Patna over the issue of inflation and unemployment. Read more on Dynamite News:

Dynamite News

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6 ways Canadians can prepare for the upcoming recession

Although it certainly feels like it, and many people believe it, we are not in a recession yet. While a recession is defined as two successive quarters of negative GDP growth, it is essentially a period where economic growth falls significantly and unemployment rates rise.

The Conversation

Fading global cooperation will make this crisis worse than the recession of 2008

The global financial crisis brought large economies together but the current crisis comes at a time of deep division

The Guardian - UK

Democrats passed a major climate, health and tax bill. Here's what's in it

Senate Democrats spent the weekend advancing what they call a historic piece of legislation, but it's still a much smaller version of what they — and President Biden — originally called for.

WEKU

Dems push Biden climate, health priorities toward Senate OK

Democrats are driving their election-year economic package toward Senate approval

The Independent UK

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Brexit will make a bad recession even worse. But Sunak and Truss won’t question it

The Tory leadership contenders are pursuing a dangerous nirvana of low taxation while ignoring the damage inflicted by leaving the EU

The Guardian - UK

Cost of living crisis: four things the government could do to help

Policy levers ministers could be pulling as rocketing gas prices fuel spiralling inflation

The Guardian - UK

The Observer view on the Tory party leaving Britons to face the crisis alone

As millions face hardship thanks to soaring bills, the Tories are focused on their next leader rather than the emergency at hand

The Guardian - UK

Republicans amplify Bernie Sanders’s criticisms of Democrats’ climate and health care legislation

Sanders defends Republicans parroting his criticisms, says ‘the truth is the truth’

The Independent UK

Just Gonna Say It: Inflation Is The Ultimate Cockblock Of 2022

Abstinence is all I can afford right now.

Pedestrian.tv

Democrats clear first hurdle on health care, tax and climate bill

WASHINGTON — Senate Democrats on Saturday advanced their long-delayed health care, tax and climate bill following months of back-and-forth on whether the party would be able to pass major legislation addressing some of their progressive priorities before the midterm election.

Los Angeles Times

Democrats clear first hurdle on health care, tax and climate bill

Los Angeles Times

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Reuters

UK's Liz Truss ready to speed up tax cut plan, newspaper says

Liz Truss, the front-runner to become Britain's next prime minister, plans to rush through tax cuts earlier than planned in an attempt to boost the country's flagging economy, the Sunday Telegraph reported.

The Independent UK

Sunak slams Truss’s ‘starry-eyed boosterism’ as clashes over economy continue

Ms Truss vowed to use a September emergency budget to “immediately” cut taxes.

The Independent UK

Democrats brace for insulin fight on Inflation Reduction Act

Democrats want to cap the price of insulin to $35

The Independent UK

Senate Democrats are confident as GOP tries to kill climate and inflation deal

Sen Dianne Feinstein told The Independent she doesn’t “anticipate a problem [getting the legislation passed].”

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Benzinga

What Is The Stock Buyback Tax? What To Know About The Biden/Manchin/Sinema Compromise

With the support of Senator Kyrsten Sinema, Democrat lawmakers were able to secure sufficient votes for a new tax that will be introduced as part of the Inflation Reduction Act of 2022.

The Guardian - UK

Gordon Brown: ‘Set emergency budget or risk a winter of dire poverty’

Former PM has warned of a financial timebomb awaiting families as Labour plans a major intervention to address crisis

Tribune News Service

Drug price bill pruned in Senate in partial industry win

Medicare was cleared to negotiate drug prices for the first time by the Senate’s top rules official, though the Democrats’ proposal intended to cap price increases for prescription drugs in the commercial market was blocked.

Tribune News Service

Drug price bill pruned by Senate arbiter in partial industry win

Newsroom.co.nz

Reserve Bank's bitter medicine harms the patient it's trying to save

Facing a cost of living crisis, the Government can open a modern economic toolkit and move from Wellbeing Budgets to a Wellbeing Economy.

StockNews.com

Recession or Not Recession…That Is the Question

Every investor appreciates that recessions and bear markets go hand in hand. But the definition of a recession often seems more difficult to pin down. So are we in a recession? And if not, then does that mean that disaster has been averted or that the pain train is still…

The Independent UK

Senate parliamentarian kills key part of Democrats’ prescription drug plan in the Inflation Reduction Act

The plan would cause manufacturers to rebate Medicare if they increased drug prices higher than inflation.

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