Germany is pushing a $93 billion spending plan to ease consumer gas prices as Europe heads toward winter with no end to energy crunch in sight

Germany’s Chancellor Olaf Scholz. Thomas Lohnes/Getty Images Germany announced plans Monday to spend $93 billion to ease surging gas prices.  Officials are worried winter months will be tight even as energy reserves are filling up.  The plan would be paid for by a larger 200-billion-euro spending package that was announced last month.   Germany announced Monday…

No student debt will be canceled before October 23, the Biden administration writes in a new legal filing

A view of the U.S. Capitol before a news conference to discuss student debt cancellation on Sept. 29, 2022. Drew Angerer/Getty Images In a new court filing, Biden says student debt will not be canceled before October 23. The filing was in response to a lawsuit filed by Republicans attempting to block the policy. A…

Nobel laureate Paul Krugman predicts a housing-market slump and an exports decline – and suggests the Fed has already done enough to conquer inflation

Paul Krugman. Brendan McDermid/Reuters Paul Krugman sees a housing-market slump and a drop in exports hitting the US economy over time. The Nobel laureate said the Fed has likely raised interest rates high enough to crush inflation. Krugman warned further rate hikes and a stronger dollar could destabilize the financial system. The US economy is…

I was one of those Airbnb hosts who made guests do chores before checking out — then I realized it was a ridiculous ask. Here’s where I landed on who cleans what.

Melissa Forrest. Courtesy of Melissa Forrest Melissa Forrest is an Airbnb host who makes $35,000 a month in revenue. She says recent complaints about guests having to do chores are reasonable. However, she believes in extra cleaning fees if a guest leaves a big mess. This as-told-to essay is based on a conversation with Melissa Forrest,…

People in Kyiv describe how, in a barrage of missiles, Russia shattered the hope of life returning to normal

A fire after Russian missiles hit central Kyiv on October 10, 2022. REUTERS/Gleb GaranichCars burn after Russian military strike, as Russia’s invasion of Ukraine continues, in central Kyiv, Ukraine October 10, 2022. Kyiv went months without missile strikes, and peple rebuilt a little despite war with Russia. But strikes on Monday killed at least five…

Cathie Wood says in an open letter to the Fed that it’s time to stop hiking rates as leading inflation indicators plunge

Ark Invest CEO Cathie Wood. Photo by Marco Bello/Getty Images Cathie Wood warned the Federal Reserve in an open letter that its interest rate hikes could spark a deflationary bust.She said leading inflationary indicators are falling, and that the Fed is overly focused on lagging indicators.“Could it be that the unprecedented 13-fold increase in interest…

Stocks may hold up better than expected in a coming recession, as the market appears to already be pricing in deep cuts to earnings, Leuthold Group’s Jim Paulsen says

Traders work on the floor of the NYSE in New York Brendan McDermid/Reuters Stocks could hold up better than expected in a coming recession, according to Leuthold Group’s Jim Paulsen. Paulsen pointed to steep losses in the S&P 500 this yer, a sign that a drop in earnings is being priced in.  That means stocks…