Biden administration to release 50 million barrels of oil from strategic reserve

Biden administration to release 50 million barrels of oil from strategic reserve

This post was originally published on this siteThe Department of Energy will release 50 million barrels of oil from the nation’s Strategic Petroleum Reserve, the White House announced Tuesday, as the Biden administration seeks ways to control rising costs at the pump.Of the 50 million…

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US retailers cheery about holiday season despite inflation

US retailers cheery about holiday season despite inflation

This post was originally published on this site After nearly two years of pandemic gloom, American consumers appear primed to spend generously for the holidays in spite of worries over inflation and item availability. Retailers have seen strong buying interest this fall, with robust “back to school” and Halloween sales...

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Jerome Powell nominated to stay as US Federal Reserve chair

Jerome Powell nominated to stay as US Federal Reserve chair

This post was originally published on this sitePresident Biden opts for continuity by nominating Jerome Powell to remain head of the central bank.

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Texas grid vulnerable to blackouts during severe winter weather, even with new preparations, ERCOT estimates show

Texas grid vulnerable to blackouts during severe winter weather, even with new preparations, ERCOT estimates show

This post was originally published on this site Electricity outages in Texas could occur this winter if the state experiences a cold snap that forces many power plants offline at the same time as demand for power is high, according to an analysis by the Electric Reliability Council of Texas....

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Holiday season poses major test for Biden economy

Holiday season poses major test for Biden economy

This post was originally published on this siteBlack Friday this week will kick off a crucial stretch for President Biden as the U.S. economy struggles to shake off the limits of the coronavirus pandemic.COVID-19 stifled the regular economic boost of the holiday season in 2020, but retailers and…

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Cross-Border Tax-Rate Gaps to Shrink as Democrats Advance Biden Agenda

Cross-Border Tax-Rate Gaps to Shrink as Democrats Advance Biden Agenda

This post was originally published on this siteDemocrats are close to passing significant changes to international corporate taxation, moving toward a system that would make taxes a less important consideration for where companies put investments, profits and headquarters.

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Fed Programs Have Kept Finance Flowing to Fossil Fuels

Fed Programs Have Kept Finance Flowing to Fossil Fuels

This post was originally published on this siteThe world’s biggest banks and investors recently pledged at the Glasgow climate conference to crimp the flow of finance to fossil fuels. But oil-and-gas companies have logged record amounts of private-sector financing since the Federal Reserve’s 2020 interest-rate cuts and corporate bond-buying programs.

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Inflation is at 30-year highs. Here’s how it’s hurt past presidents

Inflation is at 30-year highs. Here’s how it’s hurt past presidents

This post was originally published on this site One of the lessons from inflationary eras past is that voters are less interested in causal responsibility than in forcing a change. In other words, if you are in office now, you are holding the bag. (Image credit: Denver Post/Denver Post via...

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Top Republican warns Biden against picking Brainard for Fed chair

Top Republican warns Biden against picking Brainard for Fed chair

This post was originally published on this siteSen. Pat Toomey (Pa.), the top-ranking Republican on the Senate Banking Committee, on Thursday warned President Biden against picking Lael Brainard to serve as the next chair of the Federal Reserve, signaling a Senate fight over her nomination if…

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