In Brief
- Wall Street experts estimate a 40% probability of the U.S. entering a recession in 2023.
- Gas prices in the U.S. have dropped below $5 per gallon for the first time since April.
- New York City is moving forward with a ban on selling soft bullet-resistant vests.
Economy, Supply Chain, Energy
New Forecast: Analysts on Wall Street predict a 40% chance of the U.S. falling into a recession in 2023. They expect GDP growth to slow significantly, inflation to stabilize around 3%, and the Federal Reserve to raise interest rates above 4%. This economic slowdown could lead to a variety of challenges for both businesses and consumers alike.
Gas prices in the U.S. have fallen below $5 per gallon, marking a notable decrease from earlier this year. President Biden is currently weighing the possibility of implementing a temporary gas tax holiday, which would suspend the 18.4-cent federal gas tax and the 24.4-cent diesel tax. While skeptics argue that oil companies might pocket these savings, recent studies suggest that consumers would benefit the most. However, the potential savings may not be as substantial as hoped.
Several states are expanding their tax-free shopping periods. Some economists believe these holidays merely shift purchasing behavior rather than stimulate significant economic activity. Do you take advantage of such tax holidays? Do you think they're worth it?
Leaked internal documents reveal that Amazon could face a labor shortage by 2024. To mitigate this issue, the company may need to increase wages and invest further in automation within its warehouses. These measures could help alleviate the pressure on staffing levels while maintaining operational efficiency.
Germany is turning to coal as a substitute for natural gas imports from Russia. Meanwhile, Moscow has halted supplies to many European countries. Germany is making strides toward renewable energy sources, but the transition remains challenging amidst geopolitical tensions.
Extreme Weather
Italy's largest river, the Po, is drying up due to severe drought conditions, exposing a World War II-era barge that sank in 1943. This phenomenon highlights the increasing frequency and intensity of climate-related events worldwide.
‘We worry about it disappearing’: Alarm grows over Italy’s drought-hit Po River https://t.co/d7372OZE1T
— The Guardian (@guardian) June 17, 2022
Jacobabad, Pakistan, holds the distinction of being one of the hottest inhabited places on Earth. Since March, temperatures have exceeded 100°F (37°C) for 51 consecutive days, peaking at 123.8°F (51°C) last month. Experts warn that similar extreme heatwaves could become annual occurrences within the next decade.
Monsoon rains in India and Bangladesh claimed 116 lives through lightning strikes, floods, and landslides. Infrastructure damage, including collapsed bridges, toppled cell towers, and severed power lines, disrupted communications for millions and forced hundreds of thousands to evacuate.
The Rest
New York City is enforcing a ban on the sale of soft bullet-resistant vests. For those interested in personal protection gear, we've compiled a guide with recommendations tailored for various needs.
A tourist visiting Death Valley National Park died after running out of fuel. Found 2.5 miles away from their vehicle and just 30 feet from the road, this incident underscores the importance of preparing properly before venturing into remote areas.
American Airlines plans to terminate service to Toledo, OH; Ithaca, NY; and Islip, NY starting September 7 due to ongoing shortages among pilots. This development reflects broader challenges facing airlines across North America.
1. Work chair: This is the most common type of office chair designed for use on a desk or computer. They usually have adjustable height, backrest, and armrests, and are usually mounted on wheels for easy movement.
2. Executive chair: These chairs are larger and more luxurious than task chairs, with higher backrests and more padding. They are usually made of leather and have more advanced functions such as tilting and tilting. Suitable for high-level personnel in various offices.
3. Conference chair: These chairs are designed for use in conference rooms and are usually lighter and more stackable than other office chairs, making it easier to decorate the venue. They may have adopted a more minimalist design and come with a writing pad.
Mesh Chair,Pu Chair,Leather Chair,Boss Chair
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