Jamie Dimon, the CEO of JPMorgan Chase, the largest bank in the United States, and often dubbed the 'Wall Street President,' has been vocal throughout the past year about the heightened risk of the US facing a 1970s-style stagflation, characterized by stagnant economic growth coupled with surging inflation. "Considering the extraordinary amount of fiscal and monetary stimulus over the last half-decade, it's hard to dismiss the potential for stagflation," Dimon remarked at a conference in May. However, his forecast has been met with skepticism from many prominent economic figures, including Federal Reserve Chairman Jerome Powell, who stated in May, "I don't see the stagflation scenario unfolding." This was prior to Donald Trump's election victory. Now, with Trump's presidency on the horizon, Americans might need to prepare for stagflation, a phenomenon the country hasn't witnessed in over fifty years, potentially triggered by tariffs.

President-elect Donald Trump has expressed optimism that the financial burden of grocery shopping will soon be alleviated for Americans. "They will be able to afford their groceries very soon," he proclaimed on Thursday, just before participating in the opening bell ceremony at the New York Stock Exchange, where he was celebrated as Time's "Person of the Year." According to the Consumer Price Index data released earlier this week, Americans paid 22% more for groceries last month compared to January 2021 when Trump left office. Moreover, a comparison with February 2020, prior to the pandemic, reveals that Americans are paying 27% more for groceries in November.

On the eve of Thanksgiving, a tale of two grocery stores unfolded across the American landscape. In one, the shelves stood bare, devoid of the eggs that are a staple in the feasts of celebration. In another, an hour and a half north in Richfield, eggs could be found, but they came with a price tag swollen by 40%, a stark reminder of the economic winds that have been blowing through the nation.

In the halls of power where the fate of corporations is decided, a new chapter is being written with the name of Andrew Ferguson at its forefront. As the Federal Trade Commission (FTC) stands at a crossroads, with the formidable Lina Khan's tenure coming to an end, Ferguson is poised to take the helm, a move that has sent ripples of anticipation and trepidation through corporate America.

In the digital age, where information flows as freely as the currents of the internet, the fate of TikTok, a platform that has captivated the attention of millions, hangs in the balance. The clock is ticking towards a potential ban set for January 19th, a date that could mark the end of an era for the video-sharing giant in the United States. As TikTok gears up for another legal challenge, the DC Circuit Court of Appeals has dismissed a request for a temporary halt to the ban, deeming such a suspension "unjustified." This sets the stage for the Supreme Court to potentially settle the future of the platform, a decision that will resonate far beyond the digital realm and into the hearts and minds of its users.

McKinsey & Co has consented to a settlement of $650 million to address allegations stemming from a US Department of Justice inquiry into the consulting firm's advisory role to Purdue Pharma, the manufacturer of the opioid OxyContin. The company has entered into a five-year deferred prosecution agreement, filed in federal court in Abingdon, Virginia, to resolve criminal charges related to the marketing of addictive painkillers, which have been linked to the devastating opioid crisis in the United States.

In the geopolitical chessboard of North America, a new tension is brewing as Canada contemplates a bold move in response to President-elect Donald Trump's proposed tariffs. The threat, issued by Ontario Premier Doug Ford, is not of military might or diplomatic sanctions, but of an energy embargo, a strategic withdrawal of a vital resource that binds the economies of the United States and Canada in a delicate embrace.

Attention to all freelancers, independent contractors, entrepreneurs, property renters, or hobbyists who occasionally sell their creations: Starting from January, if you receive business income through payment apps or online marketplaces such as Venmo, CashApp, Airbnb, and Etsy, you may begin to receive 1099-K tax forms from these platforms. You might receive more of these forms than you are accustomed to, particularly if you have never before received one from these platforms. This trend is expected to continue and intensify by 2025 and beyond. Here's why this is happening and what you need to know before filing your 2024 taxes next year.

In the twilight of 2022, a peculiar paradox unfolded within the corridors of American politics and public health. President-elect Donald Trump, a figure often lauded for his business acumen and deal-making prowess, extolled the polio vaccine as the "greatest thing," a triumph of medical science that has saved millions from the clutches of a debilitating disease. Yet, in the same breath, a lawyer affiliated with Trump's chosen steward of the nation's health, Robert F. Kennedy Jr., petitioned the FDA to revoke approval of the very vaccine that has been a cornerstone of global public health for decades.

In the maelstrom of the global health crisis, financial markets embarked on a frenzied quest to identify and invest in companies that could not only survive but thrive amidst the unprecedented challenges. The early victors of this tumultuous period reaped substantial rewards, particularly those catering to the work-from-home (WFH) trend, such as Zoom and Peloton, and vaccine developers like Pfizer and Moderna. However, the journey back to a semblance of normalcy has been fraught with turbulence for these stocks, with Moderna arguably facing one of the most volatile trajectories.

Tech giants Google and Samsung are gearing up to enter the competitive landscape of wearable headsets. In a strategic alliance, the two companies are set to unveil a mixed-reality headset designed to rival Apple's Vision Pro and Meta's Quest 3. This collaboration will see Samsung take the lead in manufacturing the headset, which will be driven by an innovative Android operating system, thus challenging Meta's market dominance. Although the release date is targeted for 2025, the pricing details have yet to be disclosed. Industry analysts anticipate that Samsung may aim to offer a more affordable option compared to Apple's steep $3,499 price point for the Vision Pro, with Meta's Quest 3 currently retailing at $500.

In the ever-evolving landscape of American politics, the transformation of public figures is a common occurrence. However, few transitions have been as intriguing as that of Matt Gaetz, a former congressman from Florida, who is set to join One America News Network (OAN) as an anchor starting in January. This shift, announced by the network, marks a significant milestone in Gaetz's career and the trajectory of OAN, a far-right news outlet that has positioned itself as a staunch advocate for conservative principles.

General Motors (GM) has announced a strategic shift, discontinuing its pursuit of autonomous taxi fleets and refocusing on driver-assistance technologies that necessitate human intervention. The company cited the extensive time and resources required to scale the autonomous taxi business, along with an increasingly competitive market, as the primary reasons for this decision. In a statement, GM highlighted the challenges of scaling the business and the growing competition in the autonomous taxi sector.

As the inauguration of President-elect Donald Trump approaches, the economic landscape is poised for a significant shift. With the promise of new tariffs on the horizon, the air is thick with anticipation and uncertainty. The proposed tariffs—25% on imports from Mexico and Canada, an additional 10% on goods from China, and a range of 10% to 20% on products from all other countries—have the potential to reshape the way Americans shop and spend.

Rumors are circulating that Walgreens Boots Alliance is in talks with Sycamore Partners to privatize the company, a move that has caused its stock to surge nearly 20% on Tuesday. According to a report by The Wall Street Journal, negotiations between the struggling drugstore chain and the private equity firm are underway, with the potential deal expected to be finalized in the early part of the next year. Walgreens Boots Alliance has declined to comment on these speculations, stating that they do not engage with rumors or conjecture. The specifics of the potential agreement are still being finalized.

Activist investment firm Barington Capital and private equity firm Thor Equities have proposed a radical restructuring of Macy's, arguing that the company would be more financially valuable if it ceased operations and liquidated its assets. This assertion is based on their belief that Macy's real estate holdings are worth more than the company itself, a situation they deem unsustainable as it obscures the true worth of Macy's. They contend that Macy's stock has become so unappealing due to the company's struggles that its market value is less than the value of its individual components. The proposed solution is to dismantle the company and unlock the value of its assets.

The Resumption of Boeing's Production: A Journey Through Turbulence

A recent survey conducted by the Pew Research Center, which polled nearly 5,400 employed adults in the United States, has shed light on the sentiments of American workers towards their jobs. The study, released on a Tuesday, revealed that a significant majority of respondents—88%—expressed a degree of satisfaction with their employment, with 50% claiming to be very satisfied and 38% somewhat satisfied. Among different demographic groups, white workers emerged as the most content, with 55% reporting high levels of job satisfaction. This figure was notably lower among Hispanic (44%), Black (43%), and English-speaking Asian workers (42%). Age also played a role, with the 65 and older cohort reporting the highest satisfaction at 67%, followed by those aged 50-64 at 56%. Middle and upper-income earners were slightly more likely to report being very satisfied, as were 42% of lower-income individuals.

In the fast-paced world of quick-service restaurants, innovation is the key to staying ahead of the curve. Taco Bell, a brand synonymous with tacos and Mexican-inspired fare, has taken a bold step outside its comfort zone with the launch of the Live Más Café in San Diego. This new concept signals a strategic shift for the brand, as it enters the competitive realm of specialty beverages, a market long dominated by industry giants like Starbucks and Dunkin’, as well as rapidly expanding chains such as Dutch Bros, Swig, and Scooter’s Coffee.

The global aviation sector is on track to generate a staggering $1 trillion in revenue in the upcoming year, with passenger volumes projected to reach a record-breaking 5 billion, according to a recent announcement by the International Air Transport Association (IATA). The organization also anticipates a significant surge in the average profit per passenger for airlines, which is expected to rise to approximately $7 in the next year, a marked increase from the mere $2.25 seen 18 months prior. This year's per-passenger profit is forecasted to be $6.40. These figures signify a remarkable recovery for an industry that, due to the pandemic, experienced three consecutive years of losses from 2020 to 2022, totaling nearly $187 billion. The robust demand for travel, which has seen a strong rebound following the easing of Covid-related travel restrictions, has swiftly restored profitability within the airline industry and has enabled some carriers to command higher ticket prices.