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Colorado attorney general files lawsuit against RealPage for allegedly driving up rent prices
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State, Westword

Colorado attorney general files lawsuit against RealPage for allegedly driving up rent prices

By CATIE CHESHIRE | Westword Colorado Attorney General Phil Weiser has joined attorneys general from seven other states in suing software company RealPafe for an alleged illegal price-fixing scheme that has pushed rent prices up across the country. RealPage sells software to landlords, who in turn share sensitive data such as rent invoices, lease terms and vacancies. Then RealPage puts the data into an algorithm that delivers price recommendations to those same landlords. But instead of competing against each other to provide the best services or best price, landlords work together through RealPage to set rents as high as they can, according to the lawsuit. “A significant number of landlords then effectively agree to outsource their pricing function to RealPage with auto acce...
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Fed Chair Powell signals rate cuts as stocks test record highs
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National, The Street

Fed Chair Powell signals rate cuts as stocks test record highs

By Martin Baccardax | The Street U.S. stocks moved firmly higher in early Friday trading, while Treasury yields and the dollar were largely unchanged, as investors reacted to a key speech from Federal Reserve Chairman Jerome Powell that could clarify the central bank's plans for autumn rate cuts.  Bond market are rallying hard on the back of Powell's Jackson Hole address, but bets on an outsized 50 basis point rate cut in September are moving only modestly higher, with the bulk of the odds from the CME Group's FedWatch pointing to a 25 basis point reduction.  Benchmark 10-year Treasury note yields were last marked 5 basis points lower from prior to Powell's remarks at 3.801%, while rate-sensitive 2-year notes fell 6 basis points to 3.935%. READ MORE ON THE STREET...
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When Fed Chair Powell speaks to central bank Friday in Jackson Hole, he might disappoint
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National, The Street

When Fed Chair Powell speaks to central bank Friday in Jackson Hole, he might disappoint

By Jake Smith | The Street Federal Reserve Chairman Jerome Powell will take the stage at the central bank's annual retreat in Jackson Hole Friday with renewed confidence that inflation is receding and the economy is poised, albeit delicately, for a so-called soft landing. That knowledge, cemented by recent data, a resilient stock market and fading recession risks, will likely form the tone of his keynote address to attendees at the central bank's symposium in the northwest Wyoming resort town, which will be tracked by investors on Wall Street and around the world. READ THE FULL STORY AT THE STREET
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‘Weaker than reported’ U.S. economy created 818,000 fewer jobs than first accounting
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Fox Business, National

‘Weaker than reported’ U.S. economy created 818,000 fewer jobs than first accounting

By Megan Henney  | Fox Business U.S. job growth during much of the past year was significantly weaker than previously reported, according to new data published Wednesday. The Bureau of Labor Statistics revised down its total tally of jobs created in the year through March by 818,000 as part of its preliminary annual benchmark review of payroll data. That suggests the economy added an average of 174,000 jobs per month during that time period — below the previous 242,000 estimate. On a monthly basis, that amounts to about 68,000 fewer jobs. It marks the largest downward revision since 2009. READ THE FULL STORY AT FOX BUSINESS
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After Trump says Harris presidency could lead to ‘1929-style depression’, former WH economist warns it could ‘shut down’ entire economy
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Fox Business, National

After Trump says Harris presidency could lead to ‘1929-style depression’, former WH economist warns it could ‘shut down’ entire economy

By Kayla Bailey | Fox Business A former White House economist is sounding the alarm on Vice President Kamala Harris' economic agenda after former President Trump warned the U.S. would suffer a "1929-style depression" under a Harris presidency. "My guess is that a lot of the things she said in the past about what she really wants to do, like the Green New Deal, for example… getting carbon-neutral by 2030 – all that kind of stuff would cause a deep recession toward carbon," Kevin Hassett told "The Big Money Show" Thursday.  "Carbon-neutral by 2030 is almost impossible. 75% of our electricity comes from burning fossil fuels. So how are they going to do that if they try it? That you're just going to have to shut down the economy?" READ THE FULL STORY AT FOX BUSINESS...
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Sen. Tim Scott: ‘The American people are smarter than Kamala Harris when it comes to the economy’
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Fox Business, National

Sen. Tim Scott: ‘The American people are smarter than Kamala Harris when it comes to the economy’

By Julia Johnson  | Fox Business Sen. Tim Scott, R-S.C., shredded Vice President Kamala Harris' economic proposal on Friday, which laid out a sweeping overhaul including broad cross-industry price-fixing and $25,000 government-subsidized down payments for first-time home buyers.  "The American people are smarter than Kamala Harris when it comes to the economy," the Senate Committee on Banking, Housing, and Urban Affairs Ranking Member told Fox News Digital in an interview.  "The ‘price-gouging’ that they've experienced has come at the hands of Kamala Harris and Joe Biden," Scott said. "When you artificially stimulate the economy by the federal government and the Democrats spending trillions of dollars, the net effect is high inflation, high interest, high demand and lower sup...
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Where are prices still rising the fastest? At the kitchen table, for starters.
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Fox News, National

Where are prices still rising the fastest? At the kitchen table, for starters.

By Megan Henney | Fox Business Inflation eased again in July, even as an uptick in the cost of rent, groceries and auto insurance kept prices uncomfortably high for millions of Americans. Inflation eased again in July, even as an uptick in the cost of rent, groceries and auto insurance kept prices uncomfortably high for millions of Americans. The Labor Department on Wednesday said that the consumer price index (CPI), a broad measure of how much everyday goods like gasoline, groceries and rent cost, rose 0.2% in July from the previous month, in line with expectations. Prices climbed 2.9% from the same time last year. It marked the lowest level of inflation since March 2021. READ THE FULL STORY AT FOX BUSINESS
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Harvard economist says food prices are leaving him in ‘state of shock’
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Fox News, National

Harvard economist says food prices are leaving him in ‘state of shock’

By Alicia Warren  | Fox Business One economist says the state of grocery prices is leaving him in "shock" despite knowing a thing or two about inflation.  Kenneth Rogoff, Harvard University economics professor and former IMF chief economist, admitted to being shocked at the cost of groceries while discussing the Federal Reserve's next steps in their inflation fight during an appearance on "Mornings with Maria" on Wednesday.     "I mean, I’m a professional. I understand the difference between the level of prices and inflation. It’s just something we haven’t seen in a long time," he stressed.  Rogoff went on to mention that "prices aren’t going to go down" and that, even though inflation is falling, prices are continuing to go up. READ THE FULL STORY AT FOX BUSINESS...
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Number of new Colorado businesses drops 21.7% nearly a year after filing-fee discount ends
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State, The Colorado Sun

Number of new Colorado businesses drops 21.7% nearly a year after filing-fee discount ends

By Tamara Chuang | The Colorado Sun A 21.7% dip in folks filing to start a business in Colorado during the second quarter was largely attributed to the end of a program more than a year ago that reduced filing fees to $1, according to the latest quarterly data from the Colorado Secretary of State’s Office. “It was the sharpest decrease year-over-year in the state (that) we’ve been tracking since 2005. That’s both in percentage terms and absolute numbers,” said Brian Lewandowski, executive director of University of Colorado’s Business Research Division, which analyzed the data for the Secretary of State’s Office.  New business filings reached a second-quarter high last year at 54,940. The fee returned to $50 in June 2023 and now, one year later, filings dropped to 43,029 for t...
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Growing government debt is bigger threat to economy than climate change, CBO says
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National, The Washington Times

Growing government debt is bigger threat to economy than climate change, CBO says

By Stephen Dinan | The Washington Times The rapidly rising federal debt will do substantially more damage to the U.S. economy in coming years than climate change, the Congressional Budget Office said, putting stark figures on the size of the danger. The CBO said Friday that if Uncle Sam’s debt grows as it projects, it would reduce the size of the economy by 3.2% in 30 years. Climate change would sap it of 1%, as measured by gross domestic product. The CBO released the data in response to a question from Sen. Charles E. Grassley of Iowa, the top Republican on the Senate Budget Committee. Mr. Grassley had labeled climate change a “serious issue” but said it was odd that the Democratic-led panel was spending so much time worrying about it. READ THE FULL STORY AT THE WASHINGTON TIM...
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