Read MoreBiden to raise monthly payments to retirees by 8.7%Capitol attack committee to convene for latest public sessionSign up to receive First Thing – our daily briefing by email
Good morning, US politics blog readers. Americans don’t have many nice things to say about the record streak of inflation that has beset the economy since the start of last year, but for retirees, it’s come with one benefit: larger social security payments. The government announced today it would raise monthly payments from the retirement program by 8.7%, its largest increase in 40 years, to offset rising prices for food, gasoline and other essentials. Older people tend to be reliable voters, so this may have knock-on effects for the midterms, where inflation is seen as a liability for president Joe Biden and the Democrats running nationwide to help him carry out his agenda.
Today is going to be a busy one!
The January 6 committee will hold its ninth and potentially last public hearing at 1 pm eastern time today, focusing on what Donald Trump knew before and during the deadly insurrection at the Capitol.
Consumer price data just released shows inflation remaining stubbornly high in September, bad news for the US economy and for Wall Street especially.
Biden is in Los Angeles, where he will promote his infrastructure law announced last year and fundraise for Democrats.
Continue reading…Biden to raise monthly payments to retirees by 8.7%Capitol attack committee to convene for latest public sessionSign up to receive First Thing – our daily briefing by emailGood morning, US politics blog readers. Americans don’t have many nice things to say about the record streak of inflation that has beset the economy since the start of last year, but for retirees, it’s come with one benefit: larger social security payments. The government announced today it would raise monthly payments from the retirement program by 8.7%, its largest increase in 40 years, to offset rising prices for food, gasoline and other essentials. Older people tend to be reliable voters, so this may have knock-on effects for the midterms, where inflation is seen as a liability for president Joe Biden and the Democrats running nationwide to help him carry out his agenda.Today is going to be a busy one!The January 6 committee will hold its ninth and potentially last public hearing at 1 pm eastern time today, focusing on what Donald Trump knew before and during the deadly insurrection at the Capitol.Consumer price data just released shows inflation remaining stubbornly high in September, bad news for the US economy and for Wall Street especially.Biden is in Los Angeles, where he will promote his infrastructure law announced last year and fundraise for Democrats. Continue reading…