INFLATION

Americans’ spending on shopping at the end of last year took a blow as more would-be customers decided it was a better option to stay home out of concern over Omicron. 

Inflation struck a high point in December and reached a level of annual inflation at 7.0%, the highest seen since 1982.

The Federal Reserve is moving in the direction of raising rates to fight back against rising inflation in the economy, and Goldman Sachs has four scenarios where it expects the central bank to raise rates sooner.

While we have reached a more optimistic time in the course of this pandemic, experts say that the rampant spread of the omicron variant could energize inflation.

The U.S service sector has been a driver of economic expansion during the COVID-19 pandemic, but it is being saddled with higher costs that hinder business activity. 

Manufacturing activity in the United States did not end on the most positive of notes last year. In fact, it hit its lowest ever recording in the previous 11 months.

President Joe Biden is not starting off 2022 in the most positive of places as 60% of Americans expressed their disapproval of how he has handled the economy in his first year in office.

President Biden will be meeting with farmers and small meat processors to detail plans to increase federal support in a bid to bring down meat prices.

Inflation has emerged as the most significant concern for the U.S economy in 2022

Economists remain optimistic regarding inflation in 2022, despite the uncertainties that Omicron poses to the nation.

The University of Michigan released its latest surveys for consumer confidence and expectations and it found that U.S consumers are not expecting an easy start to the new year because of rising inflation.

U.S gross domestic product (GDP) for the third quarter rose slightly by 2.3%, the slowest growth recorded since the second quarter of 2020.

In recent years, cryptocurrencies have attracted speculators due to their dramatic price movements. However, can it be possible for crypto to be a practical investment option in the long term?

The fundamentals of the U.S economy are showing signs of health in spite of inflation and COVID-19 concerns which promises space for continued economic growth going into 2022.

Investment bank Goldman Sachs warns that Sen. Joe Manchin’s opposition to President Biden's Build Back Better agenda will hurt U.S economic growth in 2022 and the path forward to passing the bill now appears closed. 

IMF Chief Economist Gita Gopinath said a complete ban on cryptocurrencies is not possible because of their decentralized nature but stressed the need to regulation them.

The Federal Reserve plans to pick up the pace of its asset tapering program and hike interest rates in 2022, a sign that rising inflation has forced the central bank to do more faster.

Homebuilders have held onto to their confident outlook on the housing market in the most recent report by the National Association of Homebuilders. However, cost concerns and inflations still weigh down expectations..

The latest report on U.S retail sales was a disappointment after coming up short of expectations that the holiday shopping season may boost sales. 

Prices for wholesale goods leaped by 9.6% in the last year, according to the Department of Labor’s latest Producer Price Index. This was the fastest rise in PPI prices since the Labor Department began collecting data in 2010.

The small business community grew more negative in its future outlook in November as inflation and high labor costs ate into their margins. Most blame rising labor costs and inflation, but national factors add to their uncertainty.