Everand Logo

Welcome to Everand!

  • Los Angeles Times

    Here’s why the US economy shrinking in the 2nd quarter may not be so bad

    by Don Lee, Los Angeles Times Jul 28, 2022 5 minutes
    A person shops in a grocery store on July 13, 2022 in Miami.

    WASHINGTON — In the most aggressive back-to-back interest rate increases since the early 1980s economic crisis, the Federal Reserve on Wednesday announced another hike of three-quarters of a percentage point and signaled more to come in its effort to beat back inflation despite the risk of a recession.

    The Fed’s hefty increase in its benchmark rate, which will mean higher interest rates on credit cards, home and auto loans and other such purchases, seeks to curb the strong consumer demand and spending that have been a major factor in driving up prices.

    Fed Chairman Jerome H. Powell, at a news conference after the interest rate announcement, said the economy is clearly slowing, with consumer activity, business investment and housing markets all softening. But noting the still-robust job growth, he said that he doesn’t think

    You’re reading a preview, subscribe to read more.

    More from Los Angeles Times

    Los Angeles Times3 min read
    Dylan Hernández: James Harden Delivers A Trademark Disappearing Act At The Worst Time For The Clippers
    LOS ANGELES — James Harden produced one of his trademark playoff performances on Wednesday night. Actually, that's not true. This was worse. In the Clippers' 123-93 loss to the Dallas Mavericks in Game 5 of their first-round series, the longtime post
    Los Angeles Times2 min readCrime & Violence
    Editorial: The Attack On The UCLA Protest Encampment Was Unacceptable
    It is never OK to use physical violence against people with whom you disagree. This should be obvious, but the events that unfolded on the UCLA campus early Wednesday show the consequences when that message is lost. Late Tuesday night, a large group
    Los Angeles Times4 min readCrime & Violence
    Commentary: The Trump Prosecution Has A Michael Cohen Problem — And A Plan To Solve It
    Since the opening of the Donald Trump’s New York trial — when the former president’s counsel told the jury that the prosecution’s star witness “cannot be trusted” — the defense has telegraphed its principal strategy: Eviscerate Michael Cohen. As Trum

    Related