President Joe Biden waves to members of the media as he walks to board Air Force One at Dover Air Force Base in Delaware, Sunday, July 9, 2023. (AP Photo/Susan Walsh)
Welcome to The Hill’s Business & Economy newsletter
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Business & Economy
Business & Economy
The Big Story
Is ‘Bidenomics’ finally resonating with voters?
President Biden is trying to sell voters on a rapid recovery from the COVID-19 recession, but inflation has stood in the way.
With a jobless rate of 3.7 percent and sturdy growth, the U.S. economy is doing as well as one could have hoped in the wake of the pandemic.
Inflation has also fallen sharply to an annual rate of 3 percent in June, down from a 40-year high of 9.1 percent during the same month last year.
Even so, the toll of rising prices has kept many voters sour on the economy. That prompted Biden and his team to hit the road and tout the benefits of “Bidenomics,” his plan for boosting the economy through investments in technology and fighting corporate greed.
The CNBC All-America Economic Survey found that 37 percent of Americans approve of the president’s handling of the economy, while 58 percent disapprove.
This represents a slight improvement over April, when just 34 percent said they approved of Biden’s job on the economy and 62 percent said they disapproved.
Welcome to The Hill’s Business & Economy newsletter, we’re Aris Folley, Taylor Giorno and Sylvan Lane — covering the intersection of Wall Street and Pennsylvania Avenue.
President Biden joked Thursday that he got an endorsement from Rep. Marjorie Taylor Greene (R-Ga.) after the video his campaign made featuring clips from her speech topped 40 million views since it was posted Tuesday evening.
The price of wheat continues to rise in the United States and elsewhere after Russia pulled out of a United Nations-negotiated deal to export grain from Ukraine Monday.
More than two years after federal hospital price transparency rules went into effect, only about a third of hospitals are currently in compliance, according to a report released this week.
UPS supports nearly 4 million small- and medium-sized U.S. businesses every year. With the reliable delivery of critical items, UPS delivers what matters for all kinds of companies – including your favorite mom-and-pop.
Walmart, the nation’s largest retailer, has slashed the price of its online subscription service in half for those on government assistance, a move that should help perk up membership.
Fed fines Deutsche Bank $186 million and threatens further action (CNN)
Google pitches media outlets on AI that could help produce news (Washington Post)
A MESSAGE FROM UPS
5% of the U.S. GDP is moved every day by UPS
Businesses rely on UPS to serve their customers and keep their operations running smoothly. For individuals, it’s products critical to their lives. You could say UPS is delivering what matters for nearly every American. Learn more.
Republicans Thursday released a copy of an unverified tip to the FBI alleging a scheme to bribe President Biden — a tip that has not been corroborated but is nonetheless fueling GOP investigations into the Biden family. Read more
Prosecutors appear to be eyeing one unexpected charge as the Justice Department winds down its investigation into former President Trump’s effort to stay in power after the 2020 election. Read more
What People Think
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