Monday, February 26, 2024

Economy

California Finance Director Projects Slow Economic Growth; No New General Tax Increases Planned to Cover Budget Shortfall

California is expected to see slow but steady revenue growth in the 2024–2025 fiscal year, requiring state leaders to cover a $37.8 billion budget...

Consumer Spending, Labor Market Cool; Inflation Pattern Seems Similar to 1970s

Comparing the path of inflation during the 1970s and today, the numbers differ, but a similar pattern emerges. In both periods, inflationary pressures began building early when interest rates were low in the 1960s and 2010s, respectively.

Poll Shows Voter Attitudes About Living in California

California voters have grown more anxious and pessimistic about living in California than a year ago, according to findings from the California Chamber of...

Strength, Resiliency in Some Sectors Offset by Small or Negative Gains in Others

S&P 500 Off to Strong Start Following a steep sell-off in the first half of 2022, the Standards & Poor 500 started 2023 with an...

CalChamber Convenes Big City Chambers Coalition

Last week, the California Chamber of Commerce convened the first meeting of its California Big City Chambers Coalition, a leadership group of local chamber...

Can Fed Bring Down Inflation Without Pushing Economy Into Deep Recession?

Rate Decisions Recent Bank Failures Pressure Markets and Fed on Rate Decisions One more rate hike and then pause? Leading economic indicators have turned deeply negative....

Prudent Budget Proposal Keeps Key Commitments, No Tax Hikes

Governor Gavin Newsom released his revised budget on May 12, revealing a larger revenue shortfall, higher estimated safety net spending, but even so not...

High Inflation, Interest Rate Hikes of 2022 Not Reflected Yet in 2023 Economic Data

Recapping a Challenging 2022 Markets faced several challenges in 2022, including high inflation, historic central bank policy, the war in Ukraine, and COVID lockdowns in...

Don’t Treat California as a ‘Luxury Good’

The Golden State has enjoyed as much prosperity and created as much wealth as any society on the planet. Its economic output rivals Germany and...

First 2023 Job Killer Sets Dangerous Precedent

Legislation creating a misguided policy that would exacerbate California’s affordability crisis was named by the California Chamber of Commerce this week as the first...