Consumer spending rebounds despite rising October inflation
U.S. consumer spending rebounded in October, rising by a a solid 1.3% despite rising inflation that over the past year has reached the fastest pace in more than three decades.
Associated Press
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Seasonal adjustments send U.S. jobless claims to 52-year low
Since topping 900,000 in early January, the applications have fallen steadily toward and now fallen below their prepandemic level of around 220,000 a week.
U.S. GDP slowed sharply in Q3, but big rebound expected in Q4
The expectation is that the economy in the current October-December quarter could grow at the strongest pace this year, with some economists forecast GDP could surge to an 8% rate in the fourth quarter.
On the road again: Travelers emerge in time for Thanksgiving
The number of air travelers this week is expected to approach or even exceed pre-pandemic levels, and auto club AAA predicts that 48.3 million people will travel at least 50 miles from home over the holiday period, an increase of nearly 4 million over last year.
Timeline extended for resettling thousands of Afghan refugees in Indiana
The new goal is for all remaining refugees to receive resettlement assignments by the end of the year, although the holiday season and winter weather events could delay the time to early 2022.
Biden administration asks court to allow vaccine mandate
The legal tussle over the vaccine mandate for larger private employers is one of several challenges over Biden administration vaccine rules. Courts so far have not halted two other mandates—one for health care workers and one for contractors for the federal government.
Samsung says it will build $17B semiconductor factory in Texas
Samsung said the new facility will boost production of high-tech chips used for 5G mobile communications, advanced computing and artificial intelligence, and also improve supply chain resilience.
U.S. to release 50 million barrels of reserve oil to ease energy costs
The move is aimed at global energy markets, but also at U.S. voters who are coping with higher inflation and rising prices ahead of Thanksgiving and winter holiday travel.
Americans’ trust in charity steady amid pandemic, poll finds
After years of declines, Americans’ trust in civil-rights and community-action charities increased in 2020, according to a new study, which also found that trust in charities overall held steady.
Indiana GOP bill stymies workplace COVID-19 vaccine mandates
The bill is set on an extraordinary fast track for approval, with a single public hearing scheduled for Tuesday at the Statehouse followed by the House and Senate voting on final approval six days later.
Target to keep stores closed on Thanksgiving for good
Target is the first major retailer to make such a permanent move during the pandemic, and its decision could push other retailers to follow in its path.
Biden to keep Powell as Fed chair; Brainard gets vice chair
In a second term, to begin in February, Jerome Powell faces a difficult and high-risk balancing act: Inflation has reached a three-decade high, causing hardships for millions of families, clouding the recovery and undercutting the Fed’s mandate to keep prices stable.
Cap on drug price hikes for privately insured sparks battle
The main drug industry lobbying group, the Pharmaceutical Research and Manufacturers of America, says inflation rebates would undermine innovation that continues after medicines are approved.
Expect to pay more for Christmas trees, experts say
Experts said tree buyers should expect to pay between 10% and 30% more for both live trees and artificial trees this year and also have a smaller selection to choose from.
Indiana lawmakers to reconvene Nov. 29, look to end COVID-19 orders
Many conservatives have criticized Republican Gov. Eric Holcomb for continuing to extend the monthly public health order, which he has renewed 20 times, although he has signaled he might not to do so again.
Indiana Governor’s Office suite undergoing privately funded renovations
The Holcomb administration hasn’t provided information on contributors to the project or to which entity that money was being given.
Indiana environmental chief leaving for federal agency job
Bruno Pigott is taking a new job as deputy assistant administrator in the U.S. Environmental Protection Agency’s Office of Water.
Revision pushes Indiana jobless rate further below national mark
Indiana’s unemployment rate has plunged from a high of 17.5% during the spring 2020 coronavirus shutdowns and is nearly a full percentage point lower than any surrounding state.
Renewed Indiana pot legalization push faces GOP opposition
The Republican-dominated Legislature has not taken any action on bills submitted over the past decade for allowing medical marijuana or removing criminal penalties for possessing small amounts of the drug.
Two Democratic senators oppose Powell as Fed chair
Their opposition comes as President Joe Biden is expected to announce within days whom he will choose for the nation’s most powerful economic position.