U.S. Economy
Prices are surging, but people are still paying top dollar to watch live sports
People are changing their spending habits as prices surge at rates not seen in four decades, making choices that favor experiences. That means big demand for live sports. Demand for sports attendance is usually “unresponsive to price changes,” said Dennis Coates, a sports economics professor at the University of Maryland, Baltimore County. “Good times, bad […]
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How Elon Musk’s Twitter takeover plans shook Wall Street and social media
Elon Musk wears many hats as Tesla CEO, SpaceX CEO, and founder of the Boring Company and Neuralink. He’s also a prolific Twitter user. The news that Musk made a $44 billion offer to buy Twitter and potentially become the social media company’s CEO has sent shock waves through Wall Street and social media. “Forty-four […]
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World Health Organization confirms 80 cases of monkeypox with outbreaks in 11 countries
This 2003 electron microscope image made available by the Centers for Disease Control and Prevention shows mature, oval-shaped monkeypox virions, left, and spherical immature virions, right, obtained from a sample of human skin associated with the 2003 prairie dog outbreak. Cynthia S. Goldsmith, Russell Regner | CDC via AP The World Health Organization has confirmed […]
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Recession is ‘likely,’ former SEC chief economist says. Here’s his advice for how to prepare
Larry Harris Source: Larry Harris To tame the recent inflationary spike, the Federal Reserve signaled it will continue to raise interest rates. When rates are high, consumers get a better return on the money they stash in a bank account and must shell out more to get a loan, which can trigger them to borrow […]
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CDC urges older Americans to get Covid booster shots as hospitalizations soar again
Shana Alesi administers a second COVID-19 booster shot to Army veteran Robert Hall at Edward Hines Jr. VA Hospital on April 01, 2022 in Hines, Illinois. Scott Olson | Getty Images The Centers for Disease Control and Prevention this week urged older Americans to get a Covid booster shot to increase their protection against the […]
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Dr. Scott Gottlieb says rising monkeypox cases suggest it’s spread ‘pretty wide’
The rising number of monkeypox cases in the U.S. and Europe suggest the virus has already spread widely across communities, but it won’t likely cause a major epidemic like Covid, Pfizer board member and former FDA Commissioner Dr. Scott Gottlieb told CNBC on Friday. “Now that there’s been community spread, it may be hard to […]
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Health officials confirm first U.S. case of monkeypox virus this year in Massachusetts
Health officer uses a thermal head to detect a monkeypox virus on arriving passengers at Soekarno-Hatta International Airport in Tangerang near Jakarta, Indonesia on May 15, 2019. Jepayona Delita | Future Publishing | Getty Images U.S. health officials late Wednesday confirmed a case of the monkeypox virus in Massachusetts, the first to be reported across […]
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CDC panel recommends Pfizer booster shot for kids ages 5 to 11 as Covid cases rise across the U.S.
The Centers for Disease Control and Prevention’s independent vaccine experts recommended a Pfizer Covid booster shot for children ages 5 to 11 on Thursday, as infections rise across the country and immunity from the first two doses wanes off. The committee voted 11-1 in favor of a booster for the age group. CDC Director Rochelle […]
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‘A dereliction of duty:’ U.S. lawmakers grill FDA commissioner over baby formula shortage
Robert Califf testifies during the Senate Health, Education, Labor and Pensions Committee hearing on the nomination to be commissioner of the Food and Drug Administration on Tuesday, Dec. 14, 2021. Bill Clark | CQ-Roll Call, Inc. | Getty Images U.S. lawmakers on Thursday grilled Food and Drug Administration Commissioner Dr. Robert Califf about a nationwide […]
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How relocating Americans created new inflation hot spots
Americans moved around a lot over the past two years, and those destinations also now happen to have the highest inflation rates in the U.S. “We saw right away that inflation was highest in Phoenix and lowest in San Francisco,” Redfin deputy chief economist Taylor Marr told CNBC. The relationship between migration and inflation has […]
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