How relentless food inflation is becoming Biden’s major hot potato
NY Post
Inflation rose to 3.5% in March, an unexpected increase that continued to crush American’s wallets and President Biden’s approval rating.
Despite repeated promises that inflation was “transitory,” inflation has remained high throughout the president’s term, and he’s backed off using the term “Bidenomics” as people have bristled at high costs , particularly in restaurants and grocery stores.
The Consumer Price Index — which tracks the changes in the costs of everyday goods and services — noted surging prices for everything from gasoline to housing to car insurance.
But an increase in food costs also was a major culprit, according to government data.
It’s the latest uncomfortable month for President Biden, who on Wednesday accused big food manufacturers and supermarket chains for using high prices to pad their bottom lines.
“I’m calling on corporations including grocery retailers to use record profits to reduce prices,” Biden said Wednesday.
WASHINGTON — Energy Secretary Chris Wright predicted that Americans will continue to experience the pinch in their wallets at the gas pump for the “next few weeks,” but he was hopeful that prices could drop below $3 a gallon by the summer.
At the start of his term in January, Mayor Mamdani had the Big Apple’s lenders in his corner — despite his plans to remake the Big Apple economy under his socialist agenda.
Mark Zuckerberg’s Meta is reportedly delaying the release of its next artificial intelligence model at least about two months after internal tests showed the tech falling short of rival models from Google, OpenAI and Anthropic.
BuzzFeed on Thursday flagged going concern doubts and said it will not provide a forecast for 2026 as it evaluates strategic options, sending the digital media company’s shares down 7% after the bell.
Two Live Nation employees bragged about slapping customers with exorbitant fees at the entertainment giant’s venues, saying “these people are so stupid” that “I almost feel bad taking advantage of them,” according to court documents released late Wednesday.
Oil went on an unprecedented roller coaster ride at the start of the week, with the price surging more than 30% to near $120 a barrel late Sunday – only to erase all of those gains just hours later.
President Trump signaled on Wednesday that he plans to tap into the US Strategic Petroleum Reserve in an effort to bring down rising gas prices.
Zero Bond – the exclusive New York City club beloved by the likes of Jay-Z, Gigi Hadid and former Mayor Eric Adams – is opening a Las Vegas outpost this week.
US stocks were little changed on Tuesday as oil prices dropped after President Trump signaled the war in Iran will be limited – though the drop slowed after the White House walked back a claim that an oil tanker had been escorted through an Iranian energy chokepoint.
After nearly 50 years in Orange County, Yamaha Motor Corp. USA is packing up its headquarters — trading Cypress, California for Kennesaw, Georgia in a sweeping corporate shift that will impact about 250 workers.The motorcycle and motorsports giant says the move is part of major “structural reforms” meant to boost profits as costs climb — including pressure from tariffs imposed during the administration of President Donald Trump and shifting market conditions.
Southern California’s luxury shopping landscape is shrinking as three high-end department store locations prepare to shut their doors.
Stocks went on a rollercoaster ride Monday — with the Dow finishing in positive territory on upbeat comments from President Trump after plunging nearly 900 points on simmering stagflation fears.
Private equity firm KKR is working with advisers on a sale of data center cooling company CoolIT Systems for a price tag potentially exceeding $3 billion, the Financial Times reported on Sunday, citing people familiar with the matter.