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The Latest Breaking News from Jason Furman

The Biden Administration Is Taking From the Poor and Giving to the Rich

From student debt cancellation to green subsidies, the White House is giving handouts paid for by hardworking lower-wage Americans.

Reason

Biden will cancel $10,000 of student debt for many borrowers

WASHINGTON — President Joe Biden announced Wednesday that he is canceling $10,000 in student debt for individuals earning less than $125,000 annually and extending a pause on loan repayments for all borrowers through the end of the year.

Los Angeles Times

Biden's Student Debt Relief Plan Will Worsen Inflation

"Student loan relief would lead some people to spend more," warns Obama economic advisor and Harvard economist Jason Furman

Reason

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Why is it so hard to say if this is a recession?

Economists were on high alert Thursday morning awaiting data from the U.S. Commerce Department that might shed light on whether the country is in a recession — a question with vast implications for consumers, employers and electoral politics.

Los Angeles Times

Inflation: Does price-gouging drive up the current rate?

Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: On greedy companies that relentlessly jack up prices and pocket the profits

The Independent UK

Greedflation: Is price-gouging helping fuel high inflation?

The Independent UK

US central bank ponders huge rate hike to combat price surge

Washington (AFP) - The US Federal Reserve is set to announce a sharp increase in borrowing costs on Wednesday amid the troubling acceleration of inflation, and forecasters now expect officials to opt for the biggest rate hike in nearly three decades.

AFP

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US inflation may have peaked, but pain continues

Washington (AFP) - With surging prices undermining wage gains and hurting American families, US President Joe Biden said Tuesday that fighting inflation is his top priority, but he may have limited tools to tackle the issue.

AFP

Rising US inflation is main economic, political challenge for Biden

Washington (AFP) - With surging prices undermining wage gains and hurting American families, US President Joe Biden said Tuesday fighting inflation is his top priority, but he may have limited tools to tackle the issue.

AFP

Biden admin split over Trump-era China tariffs as inflation looms

Biden officials are fiercely debating whether to lower some of former President Trump’s China tariffs.

Axios

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