Author: Tobias Burns

Five takeaways from the stunning inflation numbers

Consumer inflation is still shooting upward despite interest rate hikes from the Federal Reserve and a host of policy responses from lawmakers over the past several months aimed at fixing supply chains. The Labor Department reported Wednesday that the consumer price index (CPI) increased 1.3 percent from May to June and was up 9.1 over…

Democrats put IRS in spotlight after audits

Democrats are putting pressure on the IRS to explain why two foes of the Trump administration were selected for a rare and intensive type of audit after being fired from their government posts. The chief tax-writing House Ways and Means Committee will question Trump-appointed IRS Commissioner Charles Rettig on Thursday afternoon, three House sources said, about…

Why ‘friend-shoring’ is at the top of Yellen’s agenda in Japan

Treasury Secretary Janet Yellen is in Tokyo meeting with Japanese officials about ways to restructure supply chains to bring down inflation. Specifically, she’ll be talking about “friend-shoring,” a riff on the term “on-shoring” that refers to the process of re-jigging supply chains to favor U.S.-friendly countries that is gaining popularity in policymaking circles. As…

Why Shinzo Abe was such a towering figure in Japan

Shinzo Abe was a towering figure in Japan who as the country’s longest-serving prime minister sought to reestablish this country’s power on the global economic and foreign policy stage. Abe, who was assassinated on Friday while speaking at a political campaign event for the Liberal Democratic Party in the city of Nara in western Japan,…

IRS in political storm over Trump-era audits

The IRS is at the center of a political storm over audits conducted on former FBI Director James Comey and former Deputy Director Andrew McCabe. Both had high-profile fights with former President Trump, and the rare audits were conducted on Trump’s watch under the Trump-appointed IRS Commissioner Charles Rettig. Lawmakers on Thursday were calling for…

Lawmakers call for investigation into IRS audits of Comey, McCabe

Democratic and Republican congressional lawmakers are calling for an investigation into whether top former FBI officials had been illegally targeted for especially intensive audits by the IRS under an appointee of former President Trump, who deemed the officials political enemies. Following a New York Times report that former FBI Director James Comey and Deputy Director…

US on ‘cusp’ of falling gas prices

Gasoline futures fell more than 10 percent Tuesday and are down more than 22 percent since June, raising hopes that the high price of gas across the country might soon fall. The price of U.S. crude oil fell more than 8 percent and international benchmark Brent crude fell nearly 10 percent on Tuesday.  “We’re on the cusp…