The United States’ annual inflation rate has risen from 3.2 percent in 2011 to 4.7 percent in 2021. This suggests that the dollar’s purchasing power has deteriorated in recent years. Is the current rate of inflation high or low? The US inflation rate has reached a new 40-year high of 7.9%. Inflation rose for shelter […]
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In the first two quarters of 2020, the US economy was in recession for the first time. In the second quarter of this year, it increased by 6.7 percent over the previous quarter. However, according to a recent article by two well-known economists, GDP estimates might fall into negative territory for the rest of the
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Even if this time of rising prices is only a blip on the radar, the central bank must stick to its plan. Is it possible to avoid inflation? Governments can fight inflation by imposing wage and price limits, but this can lead to a recession and job losses. Governments can also use a contractionary monetary
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An yearly Cost of Living Adjustment (COLA) based on increases in the Consumer Price Index (CPI) as measured by the Department of Labor protects all military retirements from inflation. Is inflation factored into military retirement? The built-in annual Cost of Living Adjustment is one of the features that makes military retirement pay so valued (COLA).
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Alban William Housego Phillips, a British economist born in New Zealand, wrote a paper in the British Academic Journal Economica in 1958 titled “The Relationship Between Unemployment and the Rate of Change of Money Wages in the United Kingdom, 1861-1957.” A.W. Phillips demonstrated a negative association between unemployment and inflation in the essay, stating that
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In order to calm the economy and slow demand, the Federal Reserve may raise interest rates in response to rising inflation. If the central bank acts too quickly, the economy could enter a recession, which would be bad for stocks and everyone else as well. Mr. Damodaran stated, “The worse inflation is, the more severe
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The standard deduction is different depending on your filing status and is adjusted for inflation. The basic deduction for single filers and married persons filing separately in 2022 will be $12,950, $19,400 for a head of household, and $25,900 for a married couple filing jointly and surviving spouses. In 2021, will the standard deduction be
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During a recession, you might be tempted to sell all of your investments, but experts advise against doing so. When the rest of the economy is fragile, there are usually a few sectors that continue to grow and provide investors with consistent returns. Consider investing in the healthcare, utilities, and consumer goods sectors if you
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When a country exports things, it is selling them to a foreign market, such as consumers, enterprises, or governments. These exports bring money into the country, increasing the GDP of the exporting country. When a country imports items, it does so from overseas manufacturers. The money spent on imports leaves the economy, lowering the GDP
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The link between GDP and GPI is analogous to the relationship between a company’s gross profit and net profit. The GPI is the GDP (worth of all products and services generated) minus the environmental and social costs, whereas the net profit is the gross profit minus the costs spent. As a result, if the financial
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