Biden’s top economic adviser is looking at inflation and the job market
A recent Gallup poll showed that 76% of Americans think the economy in the country is getting worse, while 75% disapprove of President Joe Biden’s handling of the economy. “Housing costs in many parts of the country remain high, and one of the reasons for inflation coming down is because the Federal Reserve hiked interest rates substantially,” Gallup quoted Lael Brainard, the Director of the national economic council.
The fight against inflation isn’t over yet, despite the steady interest rates held by the Fed
The US Federal Reserve has said it would consider the ” lags with which monetary policy affects economic activity and inflation” when it decides whether to raise rates next week. Since March of last year, the US central bank has raised its benchmark rate 11 times, pushing it to its highest level in over 20 years.
According to IEA fossil fuel demand will peak soon because of the global shift to clean energy
The International Energy Agency (IEA) has estimated that renewable energy will provide 50% of the world’s electricity needs by 2030.renewable energy will give 50% of the world’s electricity needs, up from about 30% now, the agency said. shoring up an electric grid is necessary in order to prevent more extreme climate change as disasters caused by climate change threaten power grids, it added.
The New York Times says we must not kill some children to protect others
The Israel Defense Forces (IDF) struck targets in the West Bank and the Gaza Strip on Sunday, killing at least eight Palestinians, including a Hamas operative, officials said. Dozens of Palestinians have been killed since Israel launched a military operation against Hamas in the Gaza Strip on December 16. The IDF said that it has targeted over 500 targets in Gaza so far.
There could be repercussions from the UAW strike
The United Auto Workers (UAW) has gone on strike against Ford, General Motors and Tesla over their demand for a 40% increase in wages. The three automakers have posted combined profits of over $21 billion in the first half of 2023, according to the UAW. However, the union said that all three have raked in record profits in recent years.
The Up First briefing was on Trump’s legal case and Republicans’ stance on climate change
A majority of US voters have said that climate change is a “major threat” to the nation and the future of the economy, a new poll found. Seventy-three percent of voters said that the economy should be given priority, even at the risk of ignoring climate change. The survey, conducted by The New York Times, had a margin of error of 3.1 percentage points.
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