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Inflation and Gas Shortages Highlight Dangers Potential to Biden’s Agenda: NPR



Inflation and Gas Shortages Highlight Dangers Potential to Biden's Agenda: NPR

President Biden talks about economics at the White House on Monday. The Biden administration argues that higher-than-expected inflation is temporary.

Evan Vucci / AP

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Evan Vucci / AP

President Biden talks about economics at the White House on Monday. The Biden administration argues that higher-than-expected inflation is temporary.

Evan Vucci / AP

President Biden continues to get good grades for solving the most pressing problem of the day – the coronavirus pandemic. He also stays on average above 50% for his attitude to the economy, which is closely related to COVID-19.

But as things get bigger and get back to normal – with the Centers for Disease Control and Prevention. new mask guide for fully vaccinated people, crises or potential crises are on the horizon.

In a couple of months it became clear that the Americans less confidence in the president’s handling of immigration, For example. Was influx of migrantsincluding unaccompanied minors on the southern border of the United States, and the Biden administration has struggled to respond.

Some new things have been added to Biden’s plate this week, including inflation, gas shortages and renewed fighting in the Middle East between Israel and the Palestinians. They threaten to disrupt an agenda that has remained largely unchanged so far.

Asked about this Friday at the White House, spokeswoman Jen Psaki replied, “This is exactly what he was chosen for – leading a country through a multitude of crises,” and that he has put together a team “to prepare for.” these moments. “

Full plate, but empty pump

Inflation has been the economic word of the week. Consumer prices went higher than expectedwhich caused some tremors down Wall Street.

Gas prices are on the rise and the resumption of travel this summer is likely to keep them relatively high. Long gas pipelines on the east coast following a ransomware attack on a major pipeline in the United States sparked panic at a gas station this week.

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The colonial pipeline has brought my entire system back onlineand Biden said he expects improvement this weekend “and early next week.”

“Don’t panic, No. 1,” he said. called on Thursday. “I know it can be extremely stressful to see queues at pumps or gas stations where there is no gas, but it is a temporary situation.”

However, people clearly panicked. There was fight video It broke out between a man and a woman over their places in line at a gas station in North Carolina. In Alabama, a couple was caught filling several cans of gasoline and throwing them into the back of their car. A South Carolina woman who was saving up gas, tried to dodge the police, crashed her car and Caught fire

Add to all this worry less-than-expected job growth at the beginning of the month and growing fighting in the Middle East

Referring to the fact that he wanted to show a “perspective” of 266,000 jobs added, Biden noted that “the economy is moving in the right direction, but it is clear that we still have a long way to go.”

He noted that 1.5 million new jobs have been created in the economy since he came to power, “the largest number of jobs created in the first three months of any presidency in our history.”

Of course, the pandemic and the political response to it have left a very deep hole. The workforce is still 8 million fewer than it was before the pandemic.

Stronger GOP negotiating hand?

Critics are also sounding the alarm about the amount of money invested in the economy by Biden’s COVID bailout plan.

“There is so much money in the economy that demand is high, outstripping supply, and this is starting to push prices up,” Senator John Thune, RSD, said this week before inflation data was released. “We need to be a little more careful and restrained.”

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Republicans definitely feel their bargaining hand is stronger than it was a couple of weeks ago when it comes to the infrastructure deal.

Biden put forward a plan for about $ 2 trillion, which is unrealistic for Republicans. They see too many foreign objects in it, for example, electric car charging stations and other climate-related measures.

Biden argues that these things are necessary to move the economy where it needs to grow in the future, and that this investment is not unlike when the railroad and interstate highway system was first proposed.

However, Biden appears to be pushing for an infrastructure deal with Republicans. He held two meetings this week trying to negotiate a bipartisan agreement.

Republican leaders want to close a deal on so-called “traditional infrastructure” – mainly to repair roads and bridges. They have swam that they are willing to invest up to $ 800 billion, less than half of what Biden wants, but $ 200 billion more than GOP senators had. originally suggested

Of course, the parties have not yet agreed on how to pay for it. Ironically, given the gas pipeline panic this week and rising gas prices, Senate Republican leader Mitch McConnell would like to raise the gas tax.

The gas tax, which mainly funds federal infrastructure measures in the country, not grown since 1993 and is not indexed for inflation.

But will it make a difference to Americans when they pay more to refuel when traveling on Memorial Day weekend? The Biden administration has already struck it off the list as a potential source of income for the plan.

“No, this is not part of the conversation about this infrastructure bill,” said Transport Minister Pete Buttijig. told CNN Monday

Democrats are largely opposed to so-called user fees because they are considered regressive. In other words, they do more damage to those who earn less.

Temporary surge or tip of the iceberg?

Biden has no control over much of the new problems, and the White House views inflation as a temporary surge associated with COVID, or hopes it will.

“Economists, both inside and outside government, expect the impact of our proposed investments to be temporary, temporary and that the benefits far outweigh the risks,” said a spokesman for Psaki. said Thursday

But Republicans have seized on inflation and gas prices and are already trying to compare Biden with former President Jimmy Carter, who faced unprecedented inflation and oil shortages that led to the gas crisis.

“I see that everyone compares Joe Biden to Jimmy Carter. I think this is very unfair to Jimmy Carter, “said former President Donald Trump, who is still the top Republican presidential contender in 2024.” Jimmy handled crisis after crisis wrong, but Biden CREATED crisis after crisis “.

Let’s be clear: this is not yet close to the 1970s. Inflation rose by 4.2% this week not fourteen%

But that doesn’t mean there is no potential political issue for Biden.

The president has shown a willingness to stay on course, but every president has to deal with unpredictable crises.

Biden’s ability to deal with them is about to be tested.

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Portuguese tennis player Gonçalo Oliveira in the doubles final of the Lisbon Belém Open



Portuguese coach praises the development of women's handball after the Iberian duel

Oliveira and Kolar defeated France’s Manuel Guinard and Venezuela’s Luis David Martínez in the semi-finals for first place in the series, in straight sets with partial scores of 6-1 and 6-2 after 58 minutes of play.

In the title match, they will take on the Ukrainian duo of Vladislav Manafov and Oleg Prikhodko, who eliminated Jivan Nedunchezhyan of India and Christopher Rungkat of Indonesia 6-4 and 6-2 in the semi-finals.

For the 27-year-old Portuguese tennis player, this will be his 31st doubles final at the ATP Challenger Tour and third at the Lisboa Belém Open after reaching the final in 2017 with compatriot Frederico Gil and champion in 2020 with Dominican Roberto Cid Subervi.

In singles, Italian Marco Cecchinato, semi-finalist of Roland Garros in 2018, beat Spaniard Carlos Taberner 7-6 (7-2) and 6-4, scheduling a meeting in the semi-final with the “Reserve” Kazakh Timofey Skatov, responsible for eliminating Frenchman Benoit Pera, in three matches, with a score of 6-4, 2-6 and 7-5.

The other semi-final of the Lisbon tournament will be discussed between Austrian Filip Mizolich, who defeated Giulio Zeppieri 6-4 today, and Frenchman Luca van Assche, the executioner of compatriot Alexander Müller, who finished seventh. parts 6-4 and 7-5.

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Portuguese fund CA Património Crescente wins European award for highest return – Imobiliário



Portuguese fund CA Património Crescente wins European award for highest return - Imobiliário

Open-ended real estate investment fund CA Património Crescente has once again received the MSCI European Property Investment Awards in the Diversified Portfolio category for 2021.

This is the 12th time that the Portuguese fund, established in 2005, has received this award, which distinguishes the national real estate portfolio with the best return. In 2021, CA Património Crescente’s real estate portfolio returned 7.8%, compared to 6.3% in the benchmark.

The largest share of real estate income was received through shopping centers and offices: 8.7% and 8.6% respectively, according to the Portuguese fund Negócios, which at the end of August had a portfolio of 141 assets worth 1,031 million euros.

CA Património Crescente is one of the six funds managed by Square Asset Management, with Grupo Crédito Agrícola being the custodian bank and responsible for its marketing and investments mainly in real estate destined for trade, offices, services, industry, logistics or hotels.

The CA Património Crescente fund returned an annualized return of 5.1% in April, which declined slightly to 4.23% after two years, rising to 4.72% after three years and 4.74% after five years. . The average ten-year yield was 3.95%.

Square AM was also once again awarded by Euromoney, which recognizes major leaders in real estate financial products and services, as the “Best Investment Manager” of 2022.

Square AM has been on the market for 17 years and is one of the largest real estate fund managers in Portugal with €1.3 billion in assets and over 25,000 investors.

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Benfica announces a partnership with Portuguese driver Miguel Santiago.



Benfica announces a partnership with Portuguese driver Miguel Santiago.

Young competes at the National Speed ​​Championship and the FIM GP Junior World Championship.

Benfica have announced a partnership with driver Miguel Santiago, a Portuguese driver who works in the National Speed ​​Championship and the FIM Junior World Championship. Santi, who started taking his first steps in motorsport in 2016, was pleased with someone during the presentation. “The dream has come true! When I was little, before riding motorcycles, I played football, went to Benfica’s school in Mafra, I always dreamed of becoming a Benfica athlete. I never thought! A few years ago, if you had asked me, I would have said no, I believed that one day I would be here, it is a great pride. I have no words. I just hope to reach the goals, glorify the club. I have the race, the desire and the ambition.” , repeated the 18-year-old BTV pilot.

Miguel Santiago is thinking about becoming the queen of motorcycle racing.

“In recent years, the FIM Junior GP has attracted many riders to the Moto GP where 20 out of 24 riders [que participam] come from this contest. Participation in Moto GP is considered the greatest school of prodigies, I am proud to be there and so close to the level of Moto GP,” he said.

Flavio Miguel Silva


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