Falling gas prices gave Americans a slight break from the pain of high inflation last month, though the surge in overall prices slowed only modestly from the four-decade high it reached in June.
The speaker and Senate president made clear this week that a gas tax suspension isn’t in the cards, but people in Massachusetts will get at least some form of tax relief this summer regardless.
The World Bank has sharply downgraded its outlook for the global economy, pointing to Russia’s war against Ukraine, the prospect of widespread food shortages and concerns about the potential return of “stagflation” – a toxic mix of high inflation and sluggish growth unseen for more than four decades.
High-quality U.S. bonds have lost more than 10 percent so far this year, as of Monday, on pace for one of their worst years in history. The investors feeling it the most are the very ones who invest conservatively, favoring bonds instead of stocks in hopes of securing historically steady returns.