As a major rail strike looms that may require Congressional action, a new analysis from watchdog Accountable.US spotlights the big rail industry’s record of greedy behavior as they resist worker calls for safer working conditions and fair pay. Accountable.US found nearly all of the seven Class I railroads have enjoyed high profits.
MEMO: Consumers Last: Republicans Eyeing Powerful Financial Services Committee Gavels are at Wall Street’s Disposal
Protecting consumers has never been much of a priority for Congressman Patrick McHenry (R-NC), the current ranking member of the House Financial Services Committee, who could soon seize the committee’s gavel.
More Federal Reserve officials are predicting a severe economic downturn, with Kansas City Fed President Esther George the latest regional Fed president to claim that recession seems inevitable, even as the Fed plows ahead with more aggressive rate hikes that leading experts conclude will cost millions of jobs.
The Bureau of Labor Statistics’ newly released Producer Price Index report shows inflation is slowing down – echoing signs from the U.S. Labor Department last week. Government watchdog Accountable.US called the report more reason the Fed should ease their overly aggressive policy of raising interest rates.
Ahead of Federal Reserve Vice Chair for Supervision Michael Barr's testimony in front of the Senate Committee on Banking, Housing, And Urban Affairs and House Financial Services Committee this week, Accountable.US is calling on the Fed’s leadership to ease their overly aggressive interest rate hikes.
Today, Accountable.us released a new analysis revealing that 24 of the nation's largest oil companies made over $125 billion in profits this quarter, bringing in over $343 billion this year as they continue to keep prices high for consumers.
Watchdog: As Inflation Cools, Fed Should Take Foot Off Gas And Not Raise Interest Rates Again Next Month
The Labor Department’s latest Consumer Price Index (CPI) report found that while overall inflation remains persistently high, it cooled slightly by 7.7% in October. In order to protect working families from an engineered economic downturn, the Fed should take a wait-and-see approach, rather than raise rates again.
Today, ConocoPhillips announced their massive quarter three profits racking up $4.5 billion this quarter, bringing in over $15 billion in profit this year as they continue to price gouge consumers.
Making Matters Worse: Fed Hikes Interest Rates Despite Expert Warnings of More Economic Pain for Working People
Today, the Federal Open Markets Committee (FOMC), the Federal Reserve body which determines interest rates, announced a 75 basis points interest rate hike, the sixth increase in eight months, despite warnings from economic experts that doing so would cause a recession and cost as many as 3.2 million people their jobs by the end of 2023.
As a major merger deal between grocery giants Kroger and Albertsons faces scrutiny from a key U.S. Senate subcommittee, government watchdog Accountable.US released a new analysis challenging claims from the companies that the merger will lead to lower costs.