Economy

Millions of Americans will save on Medicare fees next year

WASHINGTON (AP) — For the first time in a decade, Americans will pay less next year on monthly premiums for Medicare’s Part B plan, which covers routine doctors’ visits and other outpatient care. The rare 3% decrease in monthly premiums is likely to be coupled with a historically high cost-of-living increase in Social Security benefits …

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Biden Urges Companies to Lower Costs for Consumers

US President Joe Biden on Monday urged companies running gas stations, banks and cell phone services to lower costs for consumers coping with inflation. During a White House meeting, Biden said that “junk fees” such as bank overdraft fees and cellular phone termination charges were hurting families and that gas station operators needed to lower …

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Social Security increase 2023: Here’s the latest forecast as inflation eases

Slight cooling of inflationary rates has pushed the projected increase for Social Security beneficiaries below the double-digit figures predicted just a month ago. The exact amount of the increase will be announced in just a few weeks. The latest update predicts a cost-of-living adjustment, or COLA, of 8.7%, almost a full percentage point lower than …

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Biden’s ‘cruel economy’ is deteriorating as he hypes ‘crazy’ student loan handout: Rep. Kevin Brady

House Ways and Means Committee ranking member discusses why the Biden administration keeps spending money as inflation rises on ‘Mornings with Maria.’ Rep. Kevin Brady, R-Texas, roasted President Biden Tuesday for the cost of his student loan handout as the economy worsens and inflation rises, telling “Mornings with Maria” “it makes no sense” for the …

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Biden is working hard to undo problems created by Donald Trump

OPINION AND COMMENTARY Editorials and other Opinion content offer perspectives on issues important to our community and are independent from the work of our newsroom reporters. President Joe Biden speaks about the DISCLOSE Act in the Roosevelt Room of the White House in Washington, Tuesday, Sept. 20, 2022. (AP Photo/Andrew Harnik) Andrew Harnik AP It’s …

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Biden hits oil and gas companies: ‘Bring down prices you’re charging at the pump’

Lipow Oil Associates president Andy Lipow provides his outlook on the oil market, telling ‘The Claman Countdown’ he expects gas to drop to $3.50 per gallon by October. President Joe Biden touted the worldwide drop in oil prices on Monday but urged energy companies to lower the price at the pump for consumers. “We haven’t …

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First thing Fed breaks with higher rates will be the financial markets, BMO says

The Federal Reserve is the proverbial bull in the china shop, prepared to create damage with higher interest rates to bring down the hottest inflation spell of the past 40 years. The first thing that will break is the financial markets, “as currently unfolding,” BMO Capital Markets economists Michael Gregory and Sal Guatieri said in …

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Goldman Sachs begins layoffs, targeting mid-level bankers

Goldman Sachs has begun laying off workers across the US — and the Wall Street giant is focused on culling mid-level investment bankers amid a downturn in dealmaking as the economy slows, according to a report. Last week, Goldman laid off nearly a dozen bankers in the prestigious technology, media and telecommunications division alone, according …

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