Economic Outlook for the Week Ahead

The upcoming week is expected to be eventful in terms of economic developments. President Joe Biden and former President Trump are set to engage in a debate on Thursday, which will likely focus on their differing economic agendas. Trump has proposed granting green cards to immigrants who achieve a college degree and exempting tips from income taxation. He also aims to prolong and amplify tax reductions initiated in 2017 during his presidency. In contrast, Biden is expected to propose tax hikes for individuals earning above $400,000 annually, increased allocations for social welfare programs, and enhanced backing for domestic manufacturing projects and sustainable energy initiatives.

Market analysts and economists will be closely monitoring the update on the personal consumption expenditures price index scheduled for Thursday. This metric, utilized by the Federal Reserve to gauge inflation’s effects, is projected to exhibit a decrease both monthly and annually, indicating a potential downturn in price hikes. Following a favorable consumer price index report for May, there is a growing belief that inflation is abating and nearing the Federal Reserve’s targeted annual rate of 2%.

Assassination Attempt on Former President Trump

At the Republican National Convention, conservatives are trying to walk a fine line between firing up voters and calling for unity in the wake of the assassination attempt on former President Trump. Judy Woodruff takes a closer look at that assassination attempt from a historical perspective.

Conviction of Sen. Bob Menendez

Sen. Bob Menendez of New Jersey has been convicted of bribery and acting as a foreign agent. This conviction is significant and will likely have implications for the political landscape.

Wildfires in California

A raging fire in Oroville, California, has compelled 29,000 individuals to evacuate, though authorities expressed growing optimism about containing the blaze.

Federal Aid Depletion and School Districts

As federal aid allocated during the pandemic nears depletion, school districts are bracing for financial challenges ahead. This development is expected to have significant impacts on the education sector.

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