- Wall Street analysts say there’s a 40% chance the US will enter a recession in 2023
- US gas prices fall below $5 a gallon
- New York is banning the sale of soft bullet-resistant vests
Economy, supply chain, energy
New prediction: Wall Street analysts say there’s a 40% chance the US will enter a recession in 2023. “We look for GDP growth to slow to almost zero, inflation to settle at around 3% and the Fed to hike rates above 4%.”
US gas prices fall below $5 a gallon for the first time since April. Biden is considering a gas tax holiday and will make a decision by the end of the week. The move would suspend an 18.4-cent gas and a 24.4-cent diesel tax. Skeptics worry oil companies will pocket the tax cut, but new research shows consumers will get the bulk of the savings. The savings just wouldn’t be very big.
Some states are expanding tax-free periods. According to some research, the holidays may just shift when people buy stuff, so they don’t have much impact on the economy. Do you take advantage of tax holidays? Do you find it worth it?
A leaked memo revealed that Amazon is going to run out of workers by 2024. Amazon could delay the labor crisis by raising wages and automating the warehouse.
Italy’s biggest river dries up, exposing a World War II barge that went down in 1943:
‘We worry about it disappearing’: Alarm grows over Italy’s drought-hit Po River https://t.co/d7372OZE1T
— The Guardian (@guardian) June 17, 2022
Jacobabad, Pakistan, is one of the hottest cities on earth. The city has experienced 100+ F (37+ C) degrees for 51 straight days since March and last month it reached 123.8 F (51 C). According to some experts, those extreme conditions will last for 10 months a year in the future.
Monsoons in India and Bangladesh killed 116 people in lightning strikes, flooding, and landslides. Bridges, cell towers, power lines were knocked off, cutting off communication for millions, and forcing hundreds of thousands of people were evacuated.
A tourist at Death Valley National Park was found dead after his car ran out of gas. He was found 2.5 miles from the car and only 30 ft from the highway. Learn here what to do if you find yourself in the same situation.
American Airlines will end service on Sept 7 to flights to Toledo, OH, and Ithaca and Islip, NY because of a pilot shortage.