Unemployment

It’s Joe Biden versus Elon Musk in a war of words over the state of the US economy

Who are you going to believe: the richest man in the world or the president with plummeting polls? Billionaire Elon Musk has such a ‘super bad feeling’ about the US economy under President Biden that he plans to dismiss around 10% of workers in his electric car company Tesla, he appeared on Friday. Biden reacted …

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Concern about stagflation, a throwback to the 70s, begins to grow

WASHINGTON (AP) — Stagflation. It was the dreaded “S-word” of the 1970s. For Americans of a certain age, it conjures up memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford’s much-derided “Whip Inflation Now” buttons. Stagflation is the bitterest of economic pills: high inflation mixes with a weak labor market …

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