Inflation at 40-year high pressures consumers, Fed and Biden
WASHINGTON (AP) — Inflation jumped at its fastest pace in nearly 40 years last month, a 7% spike from a year earlier that is increasing household expenses, eating into wage gains and heaping pressure on President Joe Biden and the Federal Reserve to address what has become the biggest threat to the U.S. economy. Prices rose sharply in 2021 for cars, gas, food and furniture as part of a rapid recovery from the pandemic recession. Price gains could slow further as snags in supply chains ease, but most economists say inflation won’t fall back to pre-pandemic levels anytime soon.
US posted smallest monthly deficit in 2 years in December
WASHINGTON (AP) — The federal government last month posted its smallest monthly budget deficit in two years. That was thanks to a rebounding economy that helped boost tax receipts, coupled with slower spending as some COVID relief programs ended. The Treasury Department reported that the December deficit of $21.3 billion was the smallest monthly deficit since a $13 billion shortfall in December 2019. That was before the COVID pandemic hit in the U.S. and pushed millions of people out of work, sending the economy into a short but steep recession. For the first three months of this budget year the government has recorded a deficit of $377.7 billion, 30.1% below the same period a year ago.
Fed survey finds economy growing modestly despite COVID
WASHINGTON (AP) — The Federal Reserve says the economy was growing at a modest pace at the end of 2021 but was still being held back by ongoing supply-chain disruptions and labor shortages. In its latest survey of business conditions around the country, the Fed said its 12 regional banks found that the economy was continuing to grow. But many districts reported a sudden pullback in spending on leisure travel, hotels and restaurants because of the rapid spread of the omicron variant of the coronavirus. The Fed survey, known as the beige book, will form the basis for discussions when the central bank holds its next meeting on Jan. 25-26.
Stocks rise as inflation report keeps rate hikes on track
NEW YORK (AP) — Stocks closed higher on Wall Street Wednesday after the latest report of surging prices appeared to keep the Federal Reserve on track to raise interest rates later this year. The S&P 500 rose 0.3%, the Dow Jones Industrial Average rose 0.1% and the Nasdaq rose 0.2%. Technology stocks led the market higher. Inflation jumped 7% last month, its fastest year-over-year pace in nearly four decades, but in line with economists’ forecasts. Fed Chair Jerome Powell told Congress Tuesday the Fed stands ready to raise rates to fight inflation. The yield on the 10-year Treasury note edged down to 1.73%.
US shoppers find some groceries scarce due to virus, weather
NEW YORK (AP) — Shortages at U.S. grocery stores have grown more acute in recent weeks. New problems like the fast-spreading omicron variant and severe weather are piling on to the supply chain struggles and labor shortages that have plagued retailers since the coronavirus pandemic began. The shortages are widespread, impacting produce and meat as well as packaged goods like cereal. And they’re being reported nationwide. U.S. groceries typically have 5% to 10% of their items out of stock at any given time. According to the Consumer Brands Association, the unavailability rate is hovering around 15%. Experts are divided on how long grocery shopping will sometimes feel like a scavenger hunt.
Biogen tumbles after Medicare lays out Aduhelm coverage plan
NEW YORK (AP) — Shares of Biogen tumbled Wednesday, a day after regulators slapped strict limitations on coverage the drugmaker’s new Alzheimer’s disease treatment. The Centers for Medicare and Medicaid Services said Tuesday that patients taking Biogen’s Aduhelm will have to participate in clinical trials to assess the drug’s effectiveness in order for Medicare to cover the cost. That’s an important caveat because Medicare is expected to cover most of the patients who opt for Aduhelm, and the drug can cost as much as $28,000 annually, not counting expenses for brain scans and other care patients will need while taking it.
Interior to hold auction for offshore wind power in NY, NJ
TRENTON, N.J. (AP) — The Biden administration says it will hold its first offshore wind auction next month. It’s offering nearly 500,000 acres off the coast of New York and New Jersey for wind energy projects that could produce enough electricity to power nearly 2 million homes. Interior Secretary Deb Haaland says the Feb. 23 auction in the New York Bight region will allow offshore wind developers to bid on six lease areas, the most ever offered in an auction for offshore wind. The auction comes as the administration announced Wednesday a flurry of clean energy actions, including steps to speed up reviews of solar, onshore wind and geothermal energy projects.
Mexico: Citibank sale poses ‘delicate’ antimonopoly issues
MEXICO CITY (AP) — Mexican authorities say they are going to keep a close eye on Citigroup’s proposed sale of its Mexico subsidary, Citibanamex, noting the transaction poses “delicate” regulatory issues. Citibanamex is Mexico’s third-largest bank and regulators are apparently concerned that whoever acquires it could accumulate too big a share of the banking market. The country’s Treasury Department said Wednesday “the exit of such a large retail bank … poses delicate questions for finance and regulatory authorities … including the fundamental issue of market concentration.” Citigroup announced Tuesday it would sell off or list its retail banking operations in Mexico, as part of a worldwide strategy.
The S&P 500 gained 13.28 points, or 0.3%, to 4,726.35. The Dow Jones Industrial Average rose 38.30 points, or 0.1%, to 36,290.32. The Nasdaq added 34.94 points, or 0.2%, to 15,188.39. The Russell 2000 index of smaller companies fell 17.95 points, or 0.8%, to 2,176.06.
Best Indian Destination to Visit
Goa- Best Indian Destination to Visit
Goa is a state in western India. It is known for its beaches, backwaters, Adventure water Sports, waterfalls, and temples. It is a popular tourist destination due to its laid-back atmosphere, cheap hotels, and world-class restaurants. Palolem Beach, Colva Beach, Agonda Beach, Dudhsagar Falls, Anjuna Market, Church of Our Lady of the Immaculate Conception, Braganza House, Mahadev Temple, Palácio do Deão, Mangeshi Temple, Fontainhas, Bhagwan Mahavir Wildlife Sanctuary, and Reis Magos Fort are famous destination in Goa. And Goa is also know for night life. Enjoy Night clubs, party here . So in Goa you can teste a different culture in Goa.
Delhi- Best Indian Destination to Visit
Delhi is the national capital of India and home to 1.17 billion people. It’s a city of contrasts where modernity coexists with ancient history. From the busy streets to the quiet temples, Delhi offers something for everyone. Red Fort, Jama Masjid, Qutub Minar, Lotus Temple, Aksherdham, Zoo, Old Fort, India Gate, Humayun Tomb are some of best Destination to visit. Apart form these You can visit:- Lajpat Nagar, sarojini Nagar, Janpath and Jama Masjid are the best Shopping Places in delhi. And in delhi you can find out best street foods menu in veg and non veg dishes.
Agra- Best Indian Destination to Visit
Agra is a major city of Uttar Pradesh, and a major tourist attraction is located in Agra call as “ The Taj Mahal”. You can Expericne the art of Mughal empire in agra. ALso this is one of the places to visit near delhi within 200 kms. Beyond Taj Mahal You Can Visit These Places That Are Near Or In Agra. These places are Agra Fort, Sikandra, Fatehpur Sikri, Dayal Bagh Temple, Bateshwar Temple, Chini Ka Rauza, Keetham Lake, Mathura, and vrindavan. Mathura and vrindavan are close to agra about 70 Kms far. These are Hindu holy places.
Jaipur- Best Indian Destination to Visit
Jaipur is the capital of the Indian state of Rajasthan. It alludes to the royal dynasty that once ruled the region and built the Old City, also known as the “Pink City” because of its distinctive building colour, in 1727. In the heart of a grand, colonnaded area lies the City Palace complex. Gardens, courtyards and museums still exist today as part of its royal house. Hawa Mahal, Jainivas Garden, City Palace, Amber Palace at Jantar Mantar, Samode, Light and Sound Show, Nahargarh Fort, Jaigarh Fort, Jal Mahal, Galtaji are some of the best places in Jaipur.
Kashmir- Best Indian Destination to Visit
Kashmir Valley is one of the top tourist destinations in India. Apart from its apple orchards, flower gardens and other attractions, Kashmir is famous for its natural beauty. With its distinctive handicrafts and famous Kashmiri shawls, it attracts tourists. The most popular tourist destinations in Jammu and Kashmir are Srinagar, Mughal Gardens, Gulmarg, Pahalgam, Patnitop and Jammu. Many Hindu pilgrims visit Vaishno Devi and Amarnath every year, which has a significant impact on the state’s economy.
Manali- Best Indian Destination to Visit
Manali is a city in Himachal Pradesh, India. It is one of the top ski resorts in India. It is famous for its beautiful surroundings, favorable climate and extensive cultural history. It is a popular travel destination in India and attracts visitors from all over the world.
Manali is a popular honeymoon destination as you can witness snowfall and gorgeous mountain views from late December to early January. This is the ideal time for skiing enthusiasts. Camping, hiking, mountain biking, ziplining, rappelling, paragliding, downhill cycling, jeep safaris, river crossings, angling, and many other activities are available.
Kerala- Best Indian Destination to Visit
The Indian state of Kerala is situated on the moist Malabar Coast. It is famous for its backwaters, network of canals and palm-fringed beaches. The Western Ghats are naturally occurring mountains that support a wide variety of plant life including tea, coffee and spice plantations. Wayanad and other sanctuaries as well as national parks like Eravikulam and Periyar are home to elephants, langur monkeys and tigers. Alleppey, Kochi, Thekkady, Munnar, Thrissur, Kovalam, Wayanad, Thiruvananthapuram, Kozhikode, Kannur are best destination to visit in Kerala.
Andaman and Nicobar- Best Indian Destination to Visit
The Andaman Islands are an Indian island chain in the Bay of Bengal. And Due to the increasing popularity of beaches and adventure sports like snorkeling and sea walking, tourism to the Andaman and Nicobar Islands is on the rise. Long Island, Havelock Island, Little Andaman Island, Diglipur, Parrot Island, Bharatpur Beach, Samudrika Marine Museum, Cellular Jail, Lamiya Bay Beach are some of the best spots to visit in Andaman and Nichobar. Indian tourists do not require a visa to visit the Andaman Islands, but if they wish to visit any tribal area, they require special authorization from the Deputy Commissioner at Port Blair. Foreign nationals require a permit. This clearance is given to foreign nationals coming by air on arrival at Port Blair. This can be a best Indian destination to visit.