Economy

Opinion | Economic Trends Aren’t What They Used to Be

Back in 2010 a group of conservative academics, economists and money managers signed an open letter warning that the efforts of the Federal Reserve to support the economy would be dangerously inflationary. But the inflation never came. So four years later Bloomberg reached out to as many of the signatories as they could, to ask what happened.

Not one was willing to admit having been wrong.

I don’t want to be like those guys. So I’m currently spending a fair bit of time trying to understand why my relaxed view of inflation early last year has been refuted by events.

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10+ Brands That Embraced the Circular Economy in 2021

Pledges to use more recycled materials are increasingly falling short as the public grows more concerned about the global waste problem and people seek out solutions to lighten their footprints. While many of those solutions still need to scale, a growing number of brands are looking to pave the way toward a circular economy in which nothing becomes waste. From reusable and dissolvable packaging to giving secondhand goods a new life, read on for some of the top circular economy solutions that caught our eyes in 2021.  

(Image courtesy of Tim Hortons

Tim Hortons tests reusable packaging with help

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Workforce changes will continue to affect economy: ‘Power has shifted and it has shifted to labor,’ Richmond Fed president says | Business News







Thomas I. Barkin is president and CEO of the Federal Reserve Bank of Richmond.




The COVID-19 pandemic’s impact on the job market seems likely to have long-lasting effects on the U.S. economy, the president of the Federal Reserve Bank of Richmond said Thursday.

“We have been living for decades in a world of excess workers, driven by the baby boom, improved health, women in the workforce, immigration and offshoring,” Thomas I. Barkin said in a speech given online to members of the Virginia Bankers Association.

“These kept wages and benefits and effectively cost-driven inflation down,” said Barkin, who

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Gift economy thrives in Lakewood with Buy Nothing donations

LAKEWOOD, Ohio — The nonprofit Buy Nothing initiative finds neighbors helping neighbors across the country.

This is the case in Lakewood, where a number of residents over the last half-decade have provided a meeting point of need.

“It’s a group where neighbors give and receive things freely without payment,” said Annie Stahlheber, one of the administrators of the Buy Nothing Lakewood West Facebook group. “It’s a way for people to share with their neighbors.

“There are benefits on both sides of it. Some people like getting rid of things, getting rid of clutter, seeing someone else using things that

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Billionaire trader Paul Tudor Jones rings the bubble alarm, warns the Fed could tank the economy, and predicts pandemic winners will struggle

Paul Tudor Jones.
  • Paul Tudor Jones diagnosed a huge market bubble and warned that popping it could hammer the economy.
  • The billionaire trader predicted the best-performing assets during the pandemic would soon struggle.
  • Jones bemoaned the lofty prices of many US stocks, and backed commodities to outperform.

Paul Tudor Jones sounded the alarm on a sprawling market bubble during a CNBC interview on Tuesday.

The billionaire trader and founder of Tudor Investment Corporation warned asset prices could plunge, and the economy could suffer if the Federal Reserve hikes interest rates and tapers bond purchases as expected.

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Biden’s approval rating falls to new low, Quinnipiac poll finds

WASHINGTON — President Joe Biden’s approval rating dropped to 33% in a new Quinnipiac University poll, the lowest mark of any major public survey during his presidency, as he takes a beating over his handling of the economy and coronavirus.

The poll, conducted Jan. 7 though Jan. 10 and released Wednesday, found 33% of all 1,313 adults surveyed approve of Biden’s job performance, while 53% disapprove. Ten percent did not offer an opinion.

The poll has a margin of error of 2.7 percentage points. When isolating just registered voters, Biden’s approval rating improves slightly to 35%. 

Biden’s dismal numbers

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Beijing unveils grand plan to grow digital economy as US moves forward with competition bill

The Chinese government has published a major plan to boost its global competitiveness in the digital economy before 2025, as the US is reportedly moving forward with a bill to authorise billions of dollars in funding to bolster US capabilities amid the US-China tech war.

The 14th five-year plan on the “digital economy”, published by China’s State Council, or cabinet, is broad in scope, covering everything from communications to e-commerce.

It will be a “a key force in reorganising global resources, reshaping global economic structure, and altering global competitive landscape”, according to the text of the document, which was issued

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If prices keep rising, a nightmare scenario for the US economy is a real possibility

That’s the textbook definition of stagflation, and it would be the worst nightmare for consumers, investors and the Federal Reserve. Not to mention President Joe Biden and the rest of the Democratic leadership in Washington. Just ask former president Jimmy Carter, who lost to Ronald Reagan in his 1980 re-election bid as the economy suffered from surging gas prices.

Stagflation is a difficult problem to overcome, especially for central bankers at the Fed and around the rest of the world. There are few tools to combat both inflation and a slowdown at the same time. The strongest fix … Read More

China’s Strict Covid Policies Creates Risks for the Global Economy

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Xi’an in China’s northern Shaanxi province is under a Covid-19 lockdown.


STR/AFP via Getty Images

As Omicron cases soar in the U.S., policy makers are following a different playbook than March 2020. That is not the case in China, where a strict zero-tolerance policy is putting cities into lockdown and creating the risk of a rippling effect through supply chains—and eventually the global economy.

In Xi’an, a northwest city bigger than New York City with about 13 million people, restrictions are leading to concerns about food shortages and drawing some to make comparisons to the lockdown in Wuhan

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White House says COVID stimulus talks ongoing but economy strong

House Speaker Nancy Pelosi (D-CA) and Senate Majority Leader Chuck Schumer display the “American Rescue Plan” during the enrolment ceremony following passage of U.S. President Joe Biden’s $1.9 trillion coronavirus disease (COVID-19) relief bill on Capitol Hill in Washington, U.S., March 10, 2021. REUTERS/Erin Scott

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WASHINGTON, Jan 5 (Reuters) – The White House is in constant ongoing dialogue with U.S. lawmakers and others on COVID-19 stimulus funding but the current economy appears strong, the White House spokeswoman said on Wednesday.

“We are in a very different place than we were a

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