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Other unions are digging in as well. The Writers Guild of America is in the fourth month of its strike against major Hollywood studios, while the actors’ union, known as SAG-AFTRA, is in its second. A Gallup poll published in August found that 67 percent of Americans approve of unions, the fifth straight year such support has exceeded the long-term polling average of 62 percent. Time is running out for Congress to reach a compromise to keep the government running past Oct. 1. The confab is part of an effort to lay groundwork for a meeting between President Biden and President Xi Jinping in San Francisco in November.
Persons: Drew Barrymore, Biden, Donald Trump, Kevin McCarthy, Jake Sullivan, Wang Yi, Xi Jinping Organizations: Guild of America, Hollywood, SAG, Labor Department, Gallup, Republican, Biden, U.S Locations: U.S, California, Malta, Ukraine, Taiwan, San Francisco
But as this year’s strike went on, the guild and its vocal supporters made clear that any hosts restarting their shows during this walkout would not be showered with likes. members have said that something like his return to air would today be considered strikebreaking because airing the show inevitably involves creative work that constitutes writing. The producers of today’s returning talk shows, of course, disagree. Regardless, I don’t think today’s backlash is the result of contract wording or a philosophical shift on the nature of the scribe’s craft. (David Letterman returned to air with a full staff because his production company, Worldwide Pants, struck its own deal with the writers.)
Persons: Conan O’Brien’s, NBC’s, , O’Brien, , , today’s, peck, Ellen DeGeneres, Jay Leno, David Letterman, Jon Stewart, aughts iconhood Organizations: Gallup Locations: Kentucky, America
Mario called Tupac. All he could do was listen to her cry as he explained that he didn't know when he'd be back. He didn't speak Spanish, didn't know a soul in Mexico, and had no clue where he would be sent. Mario didn't ask why, and the guy didn't inquire about Mario's predicament. "It's all good, man," Mario told Jimmy.
Persons: Mario Rosemond, Rosemond, Jimmy, Mario, Akon, Sean Kingston, Gucci Mane, Jimmy Rosemond —, Lowell, Lodi Mack, Fletcher, Tupac Shakur, Tupac, Biggie Smalls, Jimmy Rosemond, Saul Goodman, Tommy Davis, Mario stammered, It's, Jimmy Jr, Andrea, Constantin, Johnny Nunez, Rikers, , Slick, Russell Simmons, Benny Medina, Lyor Cohen, Chris Lighty, Mona Scott, Mark Sparks, Shoop, Paul Bergen, Bryce Wilson, Wilson, Mohammed, Tef, Stewart, Little Shawn, Puff Daddy, Pac, Freddie Moore, Moore, Al Pereira, would've, Jimmy wasn't, They'd, didn't, Jimmy didn't, ­ —, Mike Tyson, Lennox Lewis, Wyclef Jean, Garland, Cyrus, THONY BELIZAIRE, Mariah Carey, LL, Missy Elliott, Cent, Tef Stewart, Jimmy Rosemond Jr, Jimmy Sr, Khalil Abdullah, Jimmy Iovine, determinedly, DJ Skee, Mario couldn't, Mario chuckles, he'd, GummyBone, Mario didn't, I'm, freckling, he's, isn't, I've, Jim Brown, Michael K, Williams, Donald Trump, Arturo Holmes, Scott Olson, Trump, Brown, James Rosemond Jr, David Kushner Organizations: FBI, Entertainment, Justice Department, Bronx ., Quad Studios, AP, grandad, Wall, Black Panthers, Junior Mafia, Hollywood, Haiti, Management, Apollo, Lowell, Racing, Interscope Records, Interscope, Feds, Department of Motor Vehicles, DMV, Colombian, York Post, Drug, Administration, NFL, Trump, Stone, Atari Locations: Mexico, Haiti, Brooklyn, Bronx, Cuernavaca, Spanish, Rahway , New Jersey, Port, New York City, Vanderveer Estates, East Flatbush, Rikers, Islam, Miami Beach, New York, New Jersey, East Coast, West Coast, Plainfield , New Jersey, Brandy, Los Angeles, Czar's, Harlem, LA, California, Beverly Hills, San, Tijuana, Mexico City, Colombian, San Diego, Manhattan
We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. A vain and ambitious cigar-smoking bully who wore riding breeches, a polished helmet and boots and carried ivory-handled revolvers, he led troops on successful lightning strikes through German-held territory near the end of World War II. Musk has repeatedly been criticized for enabling and boosting antisemitic content on the platform.”“Isaacson tries to square these two Musks. During Trump’s first impeachment, Romney became the first senator in US history to vote to remove a president of his own party from office. He has been willing to do what he believes to be right — consequences be damned.”The differences between Romney and Trump were many.
Persons: CNN — “ Troy, Hadrian, , , George S, Patton, , Stephen D, Clay Jones, Elon Musks, Elon, Nicole Hemmer’s, Walter Isaacson, Musk “, Musk, ” “ Isaacson, Isaacson, ” Hemmer, Walt Handelsman, Kevin McCarthy, Donald Trump, McCarthy, Joe Biden, “ Trump, impeaching Biden, Norman Eisen, Trump, ” Eisen, Biden, James Antle III, , Hunter, McCarthy “, John Avlon, Dennis Aftergut, Lindsey Graham wasn’t, Michelle Lujan Grisham, she’s, Hunter Biden, Robert J, Spitzer, It’s, ” Vladimir, Kim, Vladimir Putin, Kim Jong, Frida Ghitis, Putin, vaingloriously, Peter the Great, Sébastien Roblin, Don’t, Romney Francis Chung, AP Sen, Mitt Romney, Romney, Sen, John McCain, Trump’s, Lanhee J, Chen, Lisa Benson, Kate Bahn, ’ I’m, , Dana Peterson, Erik Lundh, ” Dana Summers, Kunis Mila Kunis, Ashton Kutcher, Mila Kunis, Danny Masterson, Jill Filipovic, “ Kutcher, Kunis, Kutcher, Masterson, Danilo Cavalcante, Arick, Scott Stantis, Jeff Yang, Jets Phil Hands, Julian Zelizer, Aaron Rodgers ’, ” Don’t, Nick Anderson, Tess Taylor, Tommy Tuberville, Mahnaz, Roxanne Jones, Coco Gauff, Amanda Tyler, Lara Setrakian, Paul Hockenos, Don Lincoln, Sophia Nelson, Tim Scott, Kenneth Branagh, Agatha Christie’s, Hercule Poirot, Noah Berlatsky, Poirot, Branagh, Sara Stewart, Winona Ryder Organizations: CNN, US, Marine Corps, Third Army, Vostochny, Twitter, Defamation League, Agency, Caucus, Republicans, Democrats, White, North, Putin, AP, Senate, Hollywood, Motors, Ford, Chrysler, Dodge, Peugeot, United Auto Workers, UAW, , Federal Reserve, Conference Board, Ninth, Academy Museum of Motion Pictures, REUTERS, Reuters, Apple, European Union, Jets, Boston Red Sox, The Chicago Cubs, The New York Jets, New York Jets, MetLife, Tribune, Studios Locations: China, Washington, New Mexico, Detroit, Russia’s, South Africa, Hunter Biden’s, Albuquerque, Bernalillo County, Russia, Ukraine, , Los Angeles , California, U.S, Aude, Pennsylvania, Brazil, Cupertino , California, Iran, New Texas, Venice
AUSTIN, Texas (AP) — Newly acquitted of impeachment charges, Texas Attorney General Ken Paxton is back on the job and getting back to the usual. Political Cartoons View All 1163 ImagesEven the very act of impeachment in Texas could get a second look after Republican Lt. Gov. On the other side are Republicans in the Texas House, where Paxton was overwhelmingly impeached and suspended from office in May. “The Ken Paxton Victory is sooo BIG. ___Find AP’s full coverage of the impeachment of Texas Attorney General Ken Paxton at: https://apnews.com/hub/ken-paxton
Persons: , Ken Paxton, Biden, Donald Trump, Tucker Carlson, Paxton, Gov, Dan Patrick, , Dade Phelan, , Carlson, “ I've, ” Paxton, George P, Bush, George W, Trump, Ken Paxton Victory, ” Trump, Sen, Angela Paxton, Nate Paul, Nathan Johnson, Johnson, ” Johnson, Paul, Dan Cogdell, we’ll, Jake Bleiberg, paxton Organizations: Fox News, Sunday, Republican, GOP, Texas Capitol, Trump, Texas House, Senate, FBI, Republicans, Democratic, Associated Locations: AUSTIN, Texas, U.S, San Antonio, Glen Ridge , New Jersey
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Persons: Dow Jones Locations: asia
A battle between Detroit carmakers and the United Auto Workers union, which escalated on Friday with targeted strikes in three locations, is unfolding amid a once-in-a-century technological upheaval that poses huge risks for both the companies and the union. The strike has come as the traditional automakers invest billions to develop electric vehicles while still making most of their money from gasoline-driven cars. The negotiations will determine the balance of power between workers and management, possibly for years to come. That makes the strike as much a struggle for the industry’s future as it is about wages, benefits and working conditions. Pay is one of the biggest sticking points: The union is demanding a 40 percent pay increase over four years but the automakers have offered roughly half as much.
Persons: Ram —, Henry Ford’s Organizations: Detroit carmakers, United Auto Workers union, Motors, Ford Motor, Chrysler, Jeep Locations: Ohio , Michigan, Missouri
The Texas Senate on Saturday ended deliberations over whether Attorney General Ken Paxton should be removed from office, putting the Republican's historic impeachment trial on the brink of a verdict. Paxton, who did not attend the majority of the two-week trial, was not seen in the chamber as some senators wandered around their desks. If convicted, Paxton would become Texas' first statewide official convicted on impeachment charges in more than 100 years. Leaning into divisions among Republicans, Buzbee portrayed the impeachment as a plot orchestrated by an old guard of GOP rivals. The verdict will be decided by 30 of the 31 state senators, most of them Republicans.
Persons: Ken Paxton, Paxton, Donald Trump, mangers, Andrew Murr, Tony Buzbee, Buzbee, George P, Bush, George W, Sen, Angela Paxton, Austin, Nate Paul, Paul, Drew Wicker, Paxton's, Wicker, Nate, general's Austin, Laura Olson, Olson, ___ Organizations: Texas Senate, Texas Capitol, Texas, FBI, Republican, Texas House, Texas Ranger, Republican Party Locations: Texas, U.S, San Antonio
Carrying a Torch for the Liberty
  + stars: | 2023-09-16 | by ( Amir Hamja | Monique Jaques | Sara Ziegler | ) www.nytimes.com   time to read: +1 min
Liberty fans have waited 27 seasons for a W.N.B.A. The atmosphere at Barclays Center was electric for New York’s opening postseason game against the Washington Mystics. Those fans were rewarded with a Liberty win, 90-75, behind 29 points from Sabrina Ionescu and 20 from Jonquel Jones. The game started as a tense back-and-forth affair, but the Liberty took a narrow lead into halftime, and they never relinquished it. After the Liberty wrapped up the regular season with a 32-8 record, expectations were high that they could take the championship.
Persons: didn’t, Malala Yousafzai, Billie Jean King, Teresa Weatherspoon, Sabrina Ionescu, Jonquel Jones, Ionescu Organizations: Liberty, Barclays Center, Washington Mystics, Brooklyn Nets, Las Vegas Aces
U.A.W. Calls for ‘Stand Up’ Strike
  + stars: | 2023-09-15 | by ( ) www.nytimes.com   time to read: 1 min
Tonight, for the first time in our history, we will strike all three of the Big Three at once. We are using a new strategy, the “stand up” strike. We will call on select facilities, locals or units to stand up and go on strike. This is our generation’s defining moment. This is our defining moment.
Trump Charges Make Unreported History
  + stars: | 2023-09-15 | by ( Holman W. Jenkins | ) www.wsj.com   time to read: 1 min
Holman W. Jenkins Jr. is a member of the editorial board of The Wall Street Journal. Mr. Jenkins joined the Journal in May 1992 as a writer for the editorial page in New York. In February 1994, he moved to Hong Kong as editor of The Asian Wall Street Journal's editorial page. Mr. Jenkins won a 1997 Gerald Loeb Award for distinguished business and financial coverage. Born in Philadelphia, Mr. Jenkins received a bachelor's degree from Hobart and William Smith Colleges and a master's degree in journalism from Northwestern University.
Persons: Holman W, Jenkins, Mr, Gerald Loeb, William Smith Organizations: Street, William, William Smith Colleges, Northwestern University, University of Michigan Locations: New York, Hong Kong, San Francisco, Philadelphia, Hobart
Members of the United Auto Workers union have a strong hand in their strike against General Motors, Ford Motor and Stellantis. If the automakers also refuse to cave, this strike could drag on, harming both parties to the conflict as well as the general public. It began what it called a “stand up strike,” picketing just three assembly plants, one from each of the companies. The idea is to throw the automakers off balance while allowing most union members to keep drawing a paycheck. “As time goes on, more locals may be called on to ‘Stand Up’ and join the strike,” the union said.
Organizations: United Auto Workers, General Motors, Ford Motor
Trump widened his lead among rural voters to 65% in 2020 from 59% in 2016. That includes $20 billion for rural health systems, $20 billion for clean-energy agriculture projects, $11 billion for rural electrification and $13 billion towards rural clean energy projects, the White House calculates. "You get out into the rural areas, and the folks are older and don't have the educational level. USDA data shows 21% of working-age adults in rural areas have at least a bachelor's degree compared to 37% in urban areas. "Biden and [Democratic] Maine Governor Janet Mills: they're too much bleeding hearts.
Persons: Joe Biden's, Andrea Shalal, Rhiannon Hampson, she's, Hampson, We've, Donald Trump, Trump, Barack Obama, Mark Brewer, Suzanne Mettler, Trevor Brown, Brown, Ron Kaufman, Kaufman, Mitt Romney, George H, Bush, Biden, Tom Perez, I'm, John Piotti, James Gimpel, Gimpel, Orange, Dick Bouchard, Janet Mills, Jared Golden, overplaying, TRUMP, Paul Tewes, Matt Hildreth, Nathan Layne, Heather Timmons, Suzanne Goldenberg Organizations: REUTERS, Rights, U.S . Department, Republicans, Democratic, Biden, Republican, Reuters Graphics Reuters, Trump, University of Maine, Cornell, Republican National Committee, Democratic National Committee, Political, Trust, Pew, Center for Information, Research, Civic, Tufts University . White, Family Foundation, Data, University of Maryland, Pew Research, DEMOCRATS Maine, Maine, Reuters, Democrats, Democratic Party, Thomson Locations: Waterville , Maine, U.S, Waterville, Presque Isle, America, North Carolina, Georgia, Wisconsin, Pennsylvania, Maine, Orono, Nebraska, Massachusetts, Utah, Maine's, Vietnam, Poland, Iowa, Ohio , Montana
A typical Hollywood charity auction, like the Baby2Baby Gala, might consist of beauty sessions with sought-after dermatologists, autographed books and set memorabilia, and the occasional five-minute photo op. The charity auction organized by the Union Solidarity Collective, a group of writers and directors who came together this year to help crew members affected by the Writers Guild strike, is trying something different: It offers dozens of quirky experiences, many featuring hidden talents of celebrities that have little to nothing to do with their current career paths. The strike, now in its fourth month, has left writers and crews without paychecks and health care coverage. charity auction will go to the Motion Picture & Television Fund’s crew health care fund. Qualifying crew members (those with less than $10,000 in assets) can enroll for a $350 grant, which — depending on their income — can help cover most if not all of their monthly insurance costs.
Persons: Oppenheimer, David Krumholtz, , Paul Scheer Organizations: Union Solidarity Collective, Writers Guild, Television
Here Are the Plants Where U.A.W. Strikes Are HappeningWentzville Assembly Plant 3,600 workers Michigan Assembly Plant 3,300 workers Toledo Assembly Complex 5,800 workers Wentzville Assembly Plant 3,600 workers Michigan Assembly Plant 3,300 workers Toledo Assembly Complex 5,800 workers Ala. Alaska Ariz. Ark. The three plants represent only a small portion of the unionized factories of G.M., Ford and Stellantis across the United States, and less than 10 percent of those companies’ 150,000 U.A.W. Company Plant Workers Ford Michigan Assembly Plant Wayne, MI 3,300 Stellantis Toledo Assembly Complex Toledo, OH 5,800 GM Wentzville Assembly Plant Wentzville, MO 3,600 Sources: Company websites (plant locations); U.A.W. The strikes are affecting plants owned by each of the three U.S. automakers — a change in tactics from previous U.A.W.
Persons: Iowa Kan Organizations: Plant, Hawaii Idaho Ill, N.D . Ohio Okla, New York Times, United Automobile Workers, Detroit, , Motors, Ford Motor, Chrysler —, Ford, Company Plant Workers Ford, Company Plant Workers Ford Michigan Assembly Plant, Wentzville Locations: Michigan, Toledo, Ala, Alaska, Calif, Colo, Conn, Del, Fla . Ga, Hawaii Idaho, Ind, Iowa, Ky, La . Maine Md, Mass, Mich, Minn, Miss, Mo, Mont, Neb, N.H . N.J, N.M, N.Y, N.C, N.D . Ohio, N.D . Ohio Okla ., Pa, S.D . Tenn . Texas Utah, Va, Wash, W.Va . Wis, Wyo, Midwest, G.M, United States, Company Plant Workers Ford Michigan, Company Plant Workers Ford Michigan Assembly Plant Wayne, MI
Autoworkers put down their toolsThousands of autoworkers walked off the job on Friday morning at three Midwest plants in an unprecedented strike, as the United Automobile Workers and Detroit’s three big carmakers remained miles apart on contract talks. A lengthy strike could dent the Big Three’s profits, analysts say, at a time when the companies are investing heavily in electric vehicles to catch up to Tesla and Chinese rivals. Mary Barra, G.M.’s chief, warned that meeting all or most of the union’s demands could hobble the company’s prospects. “Make no mistake: If we don’t continue to invest, we will lose ground, and it will happen fast,” she said. “Nobody wins in a strike.”
Persons: Autoworkers, autoworkers, Biden, Ford, Mary Barra, , , Organizations: United Automobile Workers, General Motors, Dodge, Chrysler Locations: Stellantis, Amsterdam, G.M
Biden Sides With the Autoworkers
  + stars: | 2023-09-15 | by ( Matthew Cullen | ) www.nytimes.com   time to read: +1 min
For the first time in its nearly nine-decade history, the United Auto Workers staged a strike today against all three of the major U.S. automakers. Thousands of union workers, whose contracts expired at midnight, walked off the job at factories run by General Motors, Ford and Chrysler (now owned by Stellantis). But if talks remain bogged down, the strike could expand to more of the union’s 150,000 members. The union said it expected negotiations to resume tomorrow, but the sides appear far from a deal. “Record corporate profits,” he said, “should be shared by record contracts for the U.A.W.”
Persons: Biden’s, Organizations: United Auto Workers, automakers, General Motors, Ford, Chrysler Locations: U.S
Rarely do so many parts of a president’s political identity collide in one place. Friday’s walkout by the United Auto Workers is a real-time test of President Biden’s economic agenda: his call for higher wages for the middle class; his unapologetic pro-union stand; his climate-driven push to reimagine an electric vehicle future for car companies — centered in Michigan, a state that he must win in 2024 to remain in the Oval Office. The targeted strike by some members of the 150,000-member union is designed to disrupt one of America’s oldest industries at a time that Mr. Biden is sharpening the contrast between what rivals and allies call “Bidenomics” and a Republican plan that the president warns is a darker version of trickle-down economics that mostly benefits the rich. “Their plan — MAGAnomics — is more extreme than anything America has ever seen before,” Mr. Biden said on Thursday, just hours before the union voted to strike. At the White House, Mr. Biden’s aides believe the outcome of the battle between the car companies and its workers will underscore many of the president’s arguments about the need to reduce income inequality, the benefits of empowered employees, and the surge in profits for companies like the automakers that makes them able to afford higher salaries.
Persons: Biden’s, Biden, , ” Mr Organizations: United Auto Workers, Republican, White Locations: Michigan, America
After California lawmakers passed a landmark fast-food bill, an independent advocacy group of McDonald's owners is pushing back against what it says will be a "devastating financial blow" to its franchisees in the state, according to a memo to its membership viewed by CNBC. It includes a wage floor of $20 for California workers at fast-food chains with at least 60 locations nationwide, starting April 1. The National Owners Association, an independent advocacy group of more than 1,000 McDonald's owners, projects in the memo the bill will cost each restaurant in the state $250,000 annually. McDonald's sent its own letter to its restaurant system on Monday, which was viewed by CNBC. The new legislation eliminated the threat of joint franchisor-franchisee liability, which McDonald's said would "destroy the franchise model in California and strip thousands of restaurant owners of the right to run their business."
Persons: Gavin Newsom's, McDonald's, Roger Delph Organizations: CNBC, Gov, Labor, National Owners Association, National Restaurant Association, International Franchise Association, IFA, [ Service Employees International, America, Team, Industrial Welfare Commission Locations: California
WASHINGTON (AP) — As the Biden administration heralds the forthcoming release of five U.S. citizens detained by Iran, President Joe Biden is also confronting questions about the price being paid to bring them — and other detainees — home. But each time, officials have said bringing home Americans held by foreign adversaries is a core administration priority that necessarily comes at a heavy cost. Increasingly, the Biden White House has appeared willing to pay it. The Biden administration is, of course, hardly unique in prisoner swaps. The Obama administration in a 2016 deal that drew consternation granted clemency to seven Iranians charged in the U.S. in exchange for the release by Iran of four Americans.
Persons: Biden, Joe Biden, Matthew Miller, , Michael Waltz, they’ll, Trump, Donald Trump, who'd, Obama, there's, Siamak Namazi, James W, Danielle Gilbert, , It's, There's, Mark Frerichs, Bashir Noorzai, Nicolás Maduro’s, Antony Blinken, Iran wouldn’t, Ebrahim Raisi, Gilbert Organizations: WASHINGTON, U.S, WNBA, Biden White, Mideast, , Republican National Convention, Foley Foundation, Northwestern University, Justice Department, U.S ., U.S . U.S, NBC Locations: Iran, America, Russia, , U.S, Florida, Iranian, Washington, Venezuela, South Korea, Qatar, Northwestern
Autoworkers walked off the job on Friday at three factories that produce of some of the Detroit carmakers’ most popular vehicles, the opening salvos in what could become a protracted strike that hurts the U.S. economy and has an impact on the 2024 presidential election. Nearly 13,000 members of the United Auto Workers at plants in Ohio, Michigan and Missouri joined early Friday in what the union described as a targeted strike that could expand to more plants if its demands for pay raises of up to 40 percent and other gains were not met. The union’s four-year contracts with three automakers — General Motors, Ford Motor and Stellantis, which owns Chrysler, Jeep and Ram — expired Thursday, and the companies and the union remained far from striking new deals. The U.A.W.’s president, Shawn Fain, used sweeping language on Thursday to describe why his members were going on strike against all three automakers at the same time — something the union had never done in its nearly 90-year history.
Persons: Autoworkers, Ram —, , Shawn Fain Organizations: Detroit, United Auto Workers, , Motors, Ford Motor, Chrysler, Jeep Locations: U.S, Ohio , Michigan, Missouri
The union is also seeking cost-of-living adjustments that would nudge wages higher to compensate for inflation. As of last Friday, the companies offered to raise pay by around 14.5 percent to 20 percent over four years. It was not clear how much progress the union and the companies have made on the other issues. The companies say that they are investing billions in a transition to battery-powered vehicles, which makes it harder for them to pay substantially higher wages. They say they are at a disadvantage compared with nonunion automakers like Tesla, which dominates the sales of electric cars.
Persons: G.M, ” Ford,
Aides said that President Biden urged both sides of the dispute to stay at the negotiating table. Just before the strike vote, Mr. Biden called Shawn Fain, the president of the U.A.W. How Mr. Biden navigates the situation could have a significant impact on his hopes for re-election. Mr. Biden won the state over former President Donald J. Trump with just over 50 percent of the vote. “They talk about labor, but they don’t say ‘union.’ It’s ‘union.’ I’m one of the — I’m proud to say ‘union.’ I’m proud to be the most pro-union president.”
Persons: Biden, Biden’s, , ” Mr, “ You’ve, , Eddie Vale, You’ve, Vale, Shawn Fain, Donald J, ’ ”, ’ It’s, Organizations: United Auto Workers, Republican, White, Democratic, AFL, CNN, Trump, Labor Locations: Michigan, America, United States, Philadelphia
Opinion | What Does a Good Economy Look Like?
  + stars: | 2023-09-15 | by ( Ross Douthat | ) www.nytimes.com   time to read: +2 min
But the sourness of public opinion on the economy seems to match up pretty well with Furman’s estimates. At the very least, no matter where we stand relative to the late Obama or early Trump economy, some further improvement seems necessary to convince the public that the Biden economy is actually in good shape. So then the question for the Biden administration becomes: What counts as a good wage trend? Remember that the economic trends before 2020 were the best of the last few decades, so just returning to that dotted line in Furman’s chart would be great news. But does Biden need that scale of success to get credit for a good economy, or does he just need wage growth at any pace?
Persons: Dube, Obama, Biden, Barack Obama, George W Organizations: UMass Amherst, Inc Locations: Trump
Prices are rising, options are limited and interest rates are higher than they’ve been in over 20 years. The Federal Reserve started raising interest rates in March last year to combat inflation, eventually pushing its benchmark rate to the highest level since 2001. That has had an effect on rates for auto loans, which are now about 7.4 percent on average for new cars and 11.2 percent for used cars, according to Edmunds. Higher interest rates mean those who can put off buying a new car until next year or later, probably will. High rates were the top factor holding back business for car dealers this quarter, according to a recent survey from Cox Automotive.
Persons: It’s, they’ve, “ You’re, , Greg McBride Organizations: Federal Reserve, Bankrate, Cox Automotive Locations: Edmunds
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