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Inflation is easing, but U.S. economy not out of the woods, analyst argues

A year ago, many economists were predicting a recession in 2023. It didn’t happen, and inflation has fallen sharply. The consensus outlook is a bit But a recession delayed is not one denied, economist Elliot Eisenberg argued before a large crowd of Denver area real estate agents gathered Thursday morning for the Denver Metro Association of Realtors Economic Summit. “Nothing is awful, but I do think that we get a recession,” said Eisenberg, who doubled down after his Consumer spending represents about 70% of the U.S. economy and consumers have been “spending their brains out,” a key reason GDP growth held up so well last year…

Russia boosting trade with fellow BRICS nation

Why this rock could push the budget into the black

Iron ore miners are set to deliver billions more to the government coffers in the coming months, economists predict, pushing a forecast budget deficit back into the black. The mid-year economic and fiscal outlook (MYEFO), published in mid-December, revealed a $39.6bn boost to the budget bottom line over the four year forward estimates period, as soaring commodity prices helped bolster tax collections above previous estimates. However, the budget improvements are likely to be far higher than anticipated, as Treasury downplays expectations of higher company tax collections, which have already surged to almost $65 billion since May…

Navy Federal hit with lawsuits over alleged discrimination

The verdict is in — the old way of doing business is over. Join us at Inman Connect New York Jan. 23-25, when together we’ll conquer today’s market challenges and prepare for tomorrow’s opportunities. Defy the market and bet big on your future. Navy Federal Credit Union is facing two lawsuits and lawmakers are demanding an investigation into its lending practices in the wake of a CNN analysis that concluded the institution denied more than 50 percent of Black mortgage applicants in 2022. CNN’s analysis of Home Mortgage Disclosure Act (HMDA) data found Navy Federal approved 77.1 percent of White applicants, and 48.5 percent of Black…

$80 Million from Investing in America Agenda to Address Legacy Pollution by…

WASHINGTON — The Department of the Interior today announced a nearly $80 million investment through President Biden’s Investing in America agenda for the state of Texas to continue work plugging, capping and reclaiming orphaned oil and gas wells across the state. This investment is the first Phase 1 formula grant awarded since the Department announced last July the availability of $660 million to 26 states to clean up legacy pollution sites. These investments to address hazardous sites will create good-paying union jobs, catalyze economic growth and revitalization, and reduce environmental and public health impacts from harmful…