In the United States, inflation has just hit a 40-year high, and is showing no signs of slowing.

When an economy contracts for two consecutive quarters one has a recession. Recession fears for the US have been ongoing for some time, despite President Joe Biden denial.

Most Americans believe country is in a poor economic state as oil companies have been asked to lower gas prices amid the lack of a reliable natural gas supply has caused countries around the world including the US to burn more coal for electricity.

Inflation has surged to a new four-decade high in the United States last month.

Forbes Media CEO Steve Forbes has warned that President Joe Biden’s policy to raise the interest rates in order to solve the inflation problem will “make people poor”.

According to the US Labor Department, the annual inflation rate rose to 8.6% in May, shattering any of relief from the skyrocketing inflation.

Here are Press TV's latest top stories at 02:00 GMT, June 08, 2022.

The Biden administration is considering lifting tariffs on Chinese products that former President Trump put in place as part of his trade war with China.

Here are Press TV's latest top stories at 0200 GMT, April 13, 2022.

Democrats under the leadership of Joe Biden are slowly but alarmingly losing the ground in the United States, with more than half of the country’s population viewing the incumbent administration as a failure.