Connect with us

Published

on

close video Any of Biden’s economic benefits ‘not coming for a long time’: Kenneth Rogoff

Harvard University professor of economics Kenneth Rogoff eyes May PCE data, the final Q1 GDP report and the state of the U.S. economy under ‘Bidenomics.’

As Federal Reserve Chair Jerome Powell and President Joe Biden tout their fiscal policies on the world stage, one Harvard economist set the record straight on the state and future direction of the U.S. economy.

"Voters are very unhappy about inflation and inflation's not going away. And the first part of ‘Bidenomics’ definitely contributed to that inflation. There's no question about it," Harvard University professor of economics Kenneth Rogoff said on "Mornings with Maria" Thursday.

Speaking at a financial stability conference in Madrid, Spain, Powell stated that he does not expect core inflation to return to the central bank’s 2% target until 2025. Meanwhile, the president boasted about "Bidenomics" on the campaign trail, attributing it to pandemic recovery and "new" jobs.

"Today, the U.S. has the highest economic growth rate, leading the world economy since the pandemic, the highest in the world," Biden said on-stage in Chicago on Wednesday. "We created 13.4 million new jobs, more jobs in two years than any president has ever made in four."

AVERAGE AMERICAN LOSES MORE THAN $5K PER YEAR UNDER BIDEN'S ECONOMY: E.J. ANTONI

Rogoff corrected Biden on a "tight" labor market, with minimal GDP growth and "not very good" productivity.

“There’s no question” that President Biden’s economic policies “definitely” contributed to decades-high inflation, Harvard economist Kenneth Rogoff said on “Mornings with Maria” Thursday. (Getty Images)

"He has these other things: the CHIPS Act, which was to sort of protect us from Taiwan, actually a good idea, but had too much social policy mixed in," the economist said. "And then the Inflation Reduction Act, which I think it's more debatable. But the benefits, if there are, they're not coming for a long time. They're not going to be seen until after the election."

"So he's sort of stuck with the inflation and the stimulus that came from the first part of his administration," he continued.

The final rate for first-quarter GDP showed annualized growth of 2%, higher than economist expectations of 1.4%. Looking ahead to Q2, Rogoff noted that the "big picture" behind GDP depicts concerns around productivity. close video Inflation is entrenched in consumer services: Kenneth Rogoff

Former IMF chief economist Kenneth Rogoff joined Mornings with Maria to discuss the U.S. economy as the Federal Reserve continues to fend off inflation.

"They are maybe creating jobs to the extent the policies are doing it, but they, at the same time, are possibly sacrificing productivity growth. I think that's a tradeoff that Bidenomics [is] probably willing to accept, but it has its costs in terms of our competition with China and America's stature in the world," the Harvard professor pointed out.

In terms of inflation, the Fed may have to be "very patient" in waiting to hit their 2% goal, Rogoff added. Last month, the consumer price index reached 4%, its lowest level in two years.

"I think 2025 is probably optimistic to get to 2%. I think it's going to be longer than that," he said. "I think they're going to keep raising interest rates until we see another financial crisis or some kind of big financial stress."

With no sign of inflation cooling down, Rogoff said that could mean policymakers and economists are still anticipating a recession.

GET FOX BUSINESS ON THE GO BY CLICKING HERE close video Biden believes he can ‘brazenly lie’ about the economy: Dagen McDowell

‘The Bottom Line’ co-hosts Dagen McDowell and Sean Duffy criticize Biden for taking an economic victory lap as inflation pain persists on ‘The Big Money Show.’

"[The Fed] won't be that successful in bringing inflation down to 2% without a recession," the Harvard economist said.

"It also ties in with: people aren't happy. Whatever they're doing, they're just not happy with the situation," Rogoff continued. "And I think the president's trying to correct that perception as he views that over the next year."

READ MORE FROM FOX BUSINESS

Continue Reading

UK

Murder arrest after woman stabbed to death in Enfield – as victim named

Published

on

By

Murder arrest after woman stabbed to death in Enfield - as victim named

A woman who was stabbed to death in north London has been named by police – as a man was arrested on suspicion of murder.

Pamela Munro, 45, was found with a stab wound and died at the scene in Ayley Croft, Enfield, on Saturday evening, the Metropolitan Police said.

A 29-year-old man was arrested on suspicion of murder on Monday and is in custody, the force added.

Detective Chief Inspector Neil John said: “Investigating officers have worked relentlessly across the weekend to investigate the circumstances around Pamela’s death.

“We continue to support her family who are understandably devastated.”

GVs from SN footage on 20/04/2025 at scene of murder on 19/04/2025 of woman at Gainsborough House, Ayley Croft, Enfield in north London.
Ingest 25 NM25 SKY SAF ENFIELD MURDER GVS ENFIELD 2045
Image:
Police at the scene at Ayley Croft in Enfield

Read more from Sky News:
Fresh appeal over student’s murder
100 firefighters battle flats blaze

The Met Police has asked anyone with information or who was driving through Ayley Court between 6.30pm and 7.30pm on Saturday and may have dashcam footage to contact the force.

Continue Reading

UK

‘British man’ dies after being dragged out of police station in Ecuador – reports

Published

on

By

'British man' dies after being dragged out of police station in Ecuador - reports

A “British man” has died after being beaten and set on fire by a mob in Ecuador, according to reports by media in the South American country.

According to reports, the man – who has not been officially identified – had been detained by police after being accused of being involved in a fatal shooting.

Ecuadorian news outlet Ecuavisa reported that the man had been taken to a police station Playas del Cuyabeno, a remote village in the Amazon rainforest.

While there, a group broke into the station and took the man away. He was then set on fire in the street, it is reported, and died from his burns.

Playas del Cuyabeno
Image:
The incident reportedly happened in the Playas del Cuyabeno area of Sucumbios province

Another local report, from EXTRA.ec, said that specialist police units had been slow to arrive due to the geographical conditions of the area – which is accessible by river.

Read more from Sky News:
IDF finds ‘failings’ over attack on aid workers
Pope blesses Easter crowds from popemobile

According to reports, police officers at the station apparently decided they could not intervene when the mob arrived out of concerns for their own safety.

It is understood the UK Foreign Office is following up reports about the incident and working with local authorities to confirm the details.

Continue Reading

Environment

EcoFlow DELTA 3 Plus exclusive offer at $535, Hoverfly foldable e-bike $423, Anker 90K mAh power station $198, more

Published

on

By

EcoFlow DELTA 3 Plus exclusive offer at 5, Hoverfly foldable e-bike 3, Anker 90K mAh power station 8, more

We’re kicking off a new week here with a nice roundup of power station, e-bike, and other various markdowns in today’s edition of Green Deals. For starters, we’ve unpacked an exclusive offer on EcoFlow’s mid-range DELTA 3 Plus portable power station at $535, but you can also find the rather affordable Hoverfly foldable H3 e-bike as low as $423, and that’s alongside Anker’s SOLIX C300 AC 90,000mAh LiFePO4 power station at $198, but don’t sleep on that one because it expires at the end of the day.

Head below for more and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Exclusive: Here’s one of the best prices to date on EcoFlow’s mid-range DELTA 3 Plus portable power station at $535

We have secured an exclusive discount on the EcoFlow DELTA 3 Plus 1024Wh LiFePO4 Portable Power Station today for 9to5toys readers. Coming courtesy of the folks at Wellbots, using code 9TO5D3P at checkout will drop your total down to $534.65 shipped. Regularly listed at $799 directly from EcoFlow where it is currently marked down to $598, today’s deal delivers up to $264 in savings and the lowest price we can find.

For further comparison, this model is currently being sold for $699 on the EcoFlow Amazon storefront where the previous few deals had it sitting down at $616. We are also looking at a price drop that undercuts our previous exclusive discount from back in early February that had this model sitting down at $541.

Advertisement – scroll for more content

EcoFlow’s DELTA 3 Plus first landed on Amazon back in September 2024 to deliver a mid-range portable power supply ready to handle both emergency situations and the modest off-grid setup you might have planned for this summer.

Carrying a 1,024Wh LiFePO4, it features an 1800W AC output, 2200W (surge 3600W) with X-Boost alongside five methods of recharging (AC, Solar, 800W Alternator Charger, Smart Generator 3000 (Dual Fuel), Multicharging) and as many years of coverage on the included 5-year warranty.

For me these power stations have always been as much about peace of mind as they are useful on the campsite. Just knowing I’ve come some serious battery power at the ready just in case of the worse at home is equally as valuable to me as the portable power action, and more than worth the price of entry. With this in mind, this model in particular sits right in that sweet spot for me – enough to handle some tech out in the wild and more than enough to me through power outages and the like.

Amazon takes Hoverfly’s foldable H3 e-bike with up to 28-mile range down as low as $423 (Reg. $529)

Over at Amazon you can now find the Hoverfly H3 16-inch Folding Electric Bike in blue down at $423.20 shipped. You can also score the black colorway for $424.99. Typically priced at $529, you’re looking at as much as $106 off. This is a return to the price we saw late last month and comes within $23 of the all-time low we tracked back in January. It’s not hard to spend well over $1,000 or an electric bike, so this is an affordable way to take one for a spin this year. You can learn more about this model down below.

Folks who have been itching to pick up an e-bike, but cannot justify a premium model that’s often accompanied by a high price can now pick up Hoverfly H3 for a much more affordable cost. The brand touts that it “can travel 15.5 miles on pure electric” and nearly double that when switching to a pedal-assisted mode which ratchets that up “to more than 28 miles.” Speeds top out at 15.5 MPH and the 280.8Wh battery is removeable, allowing you to easily swap it out with a second battery if you want to go even further. My favorite feature here is that not only is the e-bike more compact than most, but that it also can be folded when not in use.

Today only: Grab Anker’s SOLIX C300 AC 90,000mAh LiFePO4 power station at $198 (Reg. $250)

As a part of its Deals of the Day sale, Best Buy is offering Anker’s SOLIX C300 AC 90,000mAh power station for $198 shipped. This is regularly a $250 power station which is now seeing a straight up $51 discount. We’ve seen this model fetch as low as $179 during Black Friday last year with our exclusive promotional discount, but it hasn’t been that low in quite a while. Today’s deal lands it within $9 of our previous mention from earlier this year, and it’s now fetching $2 less than Anker’s discounted price

Anker’s SOLIX C300 packs a hefty 90,000mAh LiFePO4 battery, delivering up to 600W of peak power (300W continuous), making it great for charging multiple devices and powering small appliances. Unlike the DC version that’s more USB-focused, the AC model featured here has three AC outlets, three USB-C ports, one USB-A port, and a 120W car/aux port. You can recharge the C300 in multiple ways – plug it into a wall to hit 80% under in under an hour, connect up to 100W of solar panels, charge via your car, or you can even use the PD 3.1 USB-C input. For added convenience, it includes a built-in carrying handle and a light bar above the display.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending