“I’ve been in the business for 25 years…I never had to increase the amount of pricing that I did this past time in April,” one business owner told the A.P.
by Emma Camp
Reason.com
Last September, California Governor Gavin Newsom (D) signed a bill mandating a $20 minimum wage for fast food workers. The new wage is among the highest in the county, surpassing even Washington, D.C.’s $17.50 minimum wage. While supporters touted the wage increase as a way to help struggling Californians, detractors warned that restaurant owners would respond by laying off workers, cutting their hours, or speeding up the already starting shift to automation.
The law went into effect in April, meaning that it’s likely too early to tell what the ultimate effects of the law will be. However, a recent report from the Associated Press detailed concerns from several California fast food restaurant owners who say they’ve been forced to reduce hours and hike food prices.
When you look at the gold market, again the market has been sitting in very much sideways action. This is a weekly chart of just closes and you can see how the market’s done that when we look at a daily borrow chart, pointed out that you would come up before to this resistance point.
Could the price of gold really hit $48,000? Plus expect more hairy 1970s-style inflation.
It’s Still the Economy, Stupid
Federal Reserve chair Jerome Powell told lawmakers on Tuesday that a weakening labor market is just as much a risk to the economy as high inflation.
When I was a graduate student in economics and learned about the inflation of the 1970s, I marveled at how poorly policymakers understood the problem. The price controls they enacted that decade failed miserably, leading to shortages and other market disruptions. I assumed, as a result, that we’d never hear the words “price gouging” again.
Gold traded in a narrow price range on Wednesday as investors looked forward to a key U.S. inflation reading that could shed more light on the Federal Reserve’s interest rates trajectory.
WASHINGTON — The Federal Reserve faces a cooling job market as well as persistently high prices, Chair Jerome Powell said in testimony Tuesday to Congress, a shift in emphasis away from the Fed’s single-minded fight against inflation of the past two years that suggests it is moving closer to cutting interest rates.
July 9 (Reuters) – Gold prices eked out gains on Tuesday despite a stronger dollar and higher bond yields, as investors looked forward to the U.S. June inflation data due later this week for more clarity on the U.S. interest rate path.
If you were in charge of the Fourth of July spread last week, you probably noticed a hike in prices. According to the American Farm Bureau Federation, the cost of a typical Independence Day spread for 10 people jumped to $71.22 this year, up 5% from last year and a whopping 30% from five years ago.