The number of insured unemployed individuals increased by 26,000 to 1,858,000, in the week ending June 29, the highest level since November 2021.
Seasonally adjusted initial unemployment claims reached 238,000, marking an increase of 4,000 from the previous week’s revised figure of 234,000.
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With inflation, high-interest rates and slowing economic growth already stressing Americans heading into the 2024 election, another reason to worry about the Biden economy has cropped up: distressed banks in danger of failing.
Last month U.S. regulators seized a bank known as Republic First Bancorp and agreed to sell it to Fulton Bank.
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The Federal Reserve on Wednesday decided to hold interest rates steady at a 23-year high, a decision that was expected.
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New documents reveal that, as the nation suffered from the strain of historically high inflation, employees at the Federal Reserve spent more time going through diversity, equity, and inclusion (DEI) training than addressing the financial crisis.
According to the Washington Free Beacon, the newly-obtained documents reveal that there were four DEI training sessions held in the spring and summer of 2021. These lessons featured such teachings as “correct pronoun usage is a civil right” and acknowledging “White privilege,” as well as demanding the use of “inclusive language” such as “Latinx,” a word that is meant to erase the historically gendered language used in Hispanic languages.
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