inflation

Fed expected to refrain from further rate hikes

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Fed expected to refrain from further rate hikes

The EURUSD pair is gaining ground due to positive market sentiment and dovish remarks from Federal Reserve Chairman Jerome Powell. Powell dismissed the likelihood of a further interest rate hike and mentioned that progress on inflation has stalled. Traders are awaiting US economic data releases, while the Eurozone may struggle due to a more dovish stance from the European Central Bank. Eurozone inflation held steady in April, with bets for a potential interest rate cut by the ECB in June.

Canada’s capital-gains tax change continues decades-old debate over economic growth and tax fairness

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Canada’s capital-gains tax change continues decades-old debate over economic growth and tax fairness

The fact described in the text is that Finance Minister Chrystia Freeland announced an increase in the capital-gains inclusion rate to 66 per cent for corporations and trusts, and for individuals on gains above 0,000, in order to raise nearly billion over five years to pay for housing initiatives.

Investors scour the globe for shelter as Wall Street shakes

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Investors scour the globe for shelter as Wall Street shakes

Global investors are looking at European and emerging market assets to protect themselves from turbulence in US stocks and bonds due to stubborn inflation.

Biden tax plan would pummel average Americans – West Hawaii Today

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Biden tax plan would pummel average Americans - West Hawaii Today

President Joe Biden’s 2025 budget blueprint, if implemented, would result in record spending, soaring debt, trillion-dollar deficits, and higher taxes, particularly on corporations. Despite Biden’s promise not to increase taxes on those earning less than 0,000 a year, the proposed corporate tax hikes would ultimately impact all Americans, including middle-class families. The plan mirrors Bernie Sanders’ approach of targeting corporations, but experts argue that these taxes are ultimately passed on to consumers, employees, and investors, including those with pension plans and retirement accounts. Republicans may use these economic realities to challenge Biden’s proposals in the upcoming campaign.

Turkish police fire tear gas and detain dozens of May Day protesters in Istanbul

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Turkish police fire tear gas and detain dozens of May Day protesters in Istanbul

Turkish riot police used tear gas and rubber bullets to disperse May Day demonstrators attempting to reach Istanbul’s Taksim Square. Dozens of protesters were detained, and President Erdogan had previously stated that the square would not be open for the annual protests. Despite the ban, workers and labor union members gathered in Sarachane neighborhood to march against inflation and economic difficulties. Over 42,000 police officers were deployed in Istanbul for the demonstrations, which have historically been held in Taksim Square.

Airbus ready to lock out A220 workers if offer rejected

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Airbus ready to lock out A220 workers if offer rejected

Airbus is prepared to lock out its Canadian A220 workers if a contract offer is rejected on Wednesday, as recommended by a conciliator in Quebec’s labor ministry. Airbus is aiming to boost production and control costs on the A220 jet, and is hoping for a positive outcome in the negotiations. Unions have been successful in securing significant raises in other industries, and the outcome of these talks will be closely monitored by IAM leaders in Washington state.

The Tax Cuts And Jobs Act Mainly Expires In 2025

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The Tax Cuts And Jobs Act Mainly Expires In 2025

The fact described in the text is that the 21% corporate flat tax rate enacted under the TCJA is permanent and does not expire.

Biden Tax Increases Won’t Hit Middle Class, Yellen Says

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Biden Tax Increases Won’t Hit Middle Class, Yellen Says

Republicans pressed Treasury Secretary Janet Yellen on President Biden’s tax proposals and the fate of the Trump tax cuts that will expire in 2025.

Fox Business Host Attacks Biden’s ‘Woke’ Tax Plans as Anti-White

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Fox Business Host Attacks Biden’s ‘Woke’ Tax Plans as Anti-White

Larry Kudlow asserted that President Biden’s tax policies are part of “racial warfare against white folks” and criticized the push for Diversity, Equity, and Inclusion initiatives. Biden’s proposed tax policies include raising the capital gains tax, which Kudlow believes unfairly targets white people who disproportionately hold assets. Kudlow argued that these policies are antithetical to traditional American values and will harm the economy. Biden has also proposed a 25 percent minimum income tax on those worth at least 0 million and raising the corporate tax rate.

German economy skirts recession, helped by construction and exports

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German economy skirts recession, helped by construction and exports

The German economy grew more than expected in the first quarter, with gross domestic product rising 0.2 per cent. The economy skirted a recession thanks to the construction sector and exports.