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lottery chances of winning This Thanksgiving, as you pass the mashed potatoes and carve the turkey, why not elevate the dinner table chatter with insights about the U.S. economy? On Wednesday, the economics team at Bank of America, led by Aditya Bhave , tackled 10 of the most pressing economic questions Americans are asking today, from stubbornly high food prices to the country's soaring deficit. Their answers provide clarity on the challenges and opportunities shaping the nation’s financial outlook, and could spark some spirited family debates. 1) Food Is So Expensive These Days. Why Do Economists Keep Saying Inflation Is Down? It's a question that's been on everyone's mind as they scan grocery receipts. While inflation is slowing down, the impact of prior price hikes still lingers. Inflation—defined as the year-over-year increase in prices—has cooled significantly since its peak in mid-2022. However, that doesn't mean prices are returning to pre-pandemic levels. Although food prices rose by just 1.2% over the past year, they remain far above where they were in 2019. That's why groceries still feel expensive, even as economists declare victory over inflation's worst days. 2) Will Prices Ever Go Back To 2019 Levels? Forget about it, and you should hope that doesn’t happen. For prices to revert to 2019 levels, the economy would need to experience a prolonged period of deflation, which means negative inflation rates. But as Bank of America highlights, deflation is “usually a sign of economic malaise that is very hard to break out of.” Since 1960, the U.S. has only experienced one brief episode of mild deflation, during the aftermath of the 2008 financial crisis. Higher prices, while painful, are now baked into the economy. Instead of looking backward, economists suggest focusing on income growth and productivity improvements to maintain purchasing power in an elevated price environment. Also Read: Amazon Dominates Holiday Shopping As Black Friday Spending Soars: Goldman Sachs 3) Why Haven’t We Had A Recession? Is It Now Looming? The dreaded "R-word" has haunted financial markets since the Federal Reserve began its aggressive rate hikes. Yet, against all odds, the U.S. economy has not only avoided a downturn, but even expanded strongly. Why? Bank of America credits several factors for the economy's surprising resilience. First, real income growth has outpaced inflation over the last two years, boosting household purchasing power. Second, fiscal policies have counteracted the tightening effects of monetary policy. Third, many households locked in ultra-low borrowing rates during the pandemic, insulating them from the Federal Reserve's higher rates. With 2025 expected to be another solid year, a recession might not be on the immediate horizon. 4) Why It’s Difficult To Find A Job In A Strong Economy? The labor market is still tight, but hiring patterns have shifted. Bank of America describes the current job market as a "low-hire, low-fire" environment. Job openings have fallen from their 2022 highs, leaving fewer opportunities for workers seeking new roles. While sectors like healthcare, education, and hospitality continue to drive hiring, others have stagnated. On the bright side, layoffs remain historically low, signaling stability for those already employed. Read Also: Consumer Confidence Hits 2-Year High As Recession Fears Fade: Stock Market Optimism Soars To Record High 5) Housing Prices Are Too High, and Mortgage Rates Aren't Dropping. Will This Ever Change? If you're feeling priced out of the housing market, you're not alone. Bank of America expects housing affordability to remain a challenge into 2024 and beyond. While mortgage rates have marginally eased this year, they are unlikely to return to pre-pandemic levels anytime soon. Compounding the issue is the so-called "lock-in effect," where existing homeowners with low mortgage rates are reluctant to sell, limiting the supply of available homes. With demand still strong and supply constrained, home prices remain elevated. The median home price relative to income is now higher than at the peak of the 2005 housing bubble—a sobering statistic for aspiring buyers. 6) Fed Chair Powell Said Interest Rates Could Fall Gradually. Yet, By How Much? Federal Reserve Chair Jerome Powell has indicated that rate cuts will happen gradually, and Bank of America predicts the central bank will trim rates by another 75 basis points by mid-2025. Inflation, while dropping sharply from sky-high levels in recent years, still remains above the Fed's 2% target, particularly when measured by the Core Personal Consumption Expenditures (PCE) price index, the Fed’s favorite inflation gauge. In October 2024, a basket of consumer goods that excludes groceries and energy costs, was up 2.8% compared to a year earlier. Bank of America forecasts inflation hovering between 2.5% and 3% for the next couple of years, which could limit the Fed's appetite for aggressive rate cuts. Read Also: Fed Minutes Reveal ‘Confidence’ In Inflation Reduction, Yet Flag Divergent Views On Interest Rate Path Ahead 7) Trump Is Back, What Policies Should I Expect? Will He Cut Taxes Again? According to Bank of America, a key priority for Republicans would be extending the Tax Cuts and Jobs Act (TCJA), which is set to expire in 2025. Other proposals include introducing modest corporate tax cuts for domestic manufacturers, and slightly raising the State and Local Tax (SALT) deduction cap. On trade, tariffs on Chinese imports are expected to rise, adding inflationary pressure, while deregulation in the energy and financial sectors could bolster corporate profits. On Monday, Donald Trump vowed to impose 25% tariffs on imports from Canada and Mexico unless the neighboring countries adopt stricter measures to combat drug trafficking and illegal immigration. “On immigration, significant tightening in the flow of migrants appears to be more likely than large changes to the migrant population that is already in the US,” the analysts said. Read also: US–Mexico Trade Tensions Escalate As Mexican Peso Hits August 2022 Lows: Why Is Auto Industry Most At Risk? 8) How Will These Policies Affect The Economy? According to Bank of America, fiscal stimulus from lower taxes and deregulation could boost growth, but tighter trade restrictions and immigration curbs might offset these gains. The net impact? Modest economic growth with inflation remaining above 2.5%. 9) Why Is The US Running A $2 Trillion Deficit? Deficits are nothing new for the U.S., but their current size is unprecedented during a period of strong economic growth. At nearly $2 trillion in FY 2024, the deficit is 6.4% of GDP—well above historical norms. This surge is largely driven by higher interest costs on the national debt and inflation-linked increases in programs like Social Security and Medicare. Adding to the strain, federal tax revenue growth has failed to keep pace with spending, creating a widening gap. Without meaningful fiscal reforms to either rein in spending or boost revenues, the deficit is likely to remain elevated, posing long-term risks to the economy. 10) Will The Department Of Government Efficiency (DOGE) Solve The Deficit Problem? The recently formed Department of Government Efficiency (DOGE) aims to cut wasteful spending, but Bank of America is skeptical of its impact. History shows that past attempts to rein in deficits through efficiency gains have fallen short. From the Reagan administration's Grace Commission to Clinton-era initiatives, similar efforts failed to produce meaningful savings. Moreover, political resistance to cutting mandatory spending programs like Social Security and Medicare remains a significant hurdle. The bottom line: The deficit problem won't be fixed overnight, and any solution will require tough, politically charged decisions, the analysts said. Read Next: ‘It’s The Most Wonderful Time Of The Year’ For The Stock Market, History Says Photo: Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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WATERTOWN — Like Steve Board and Robert Stocks , Troy Socwell is the latest Watertown resident to toss his hat in the Watertown mayoral race. Socwell, 55, said, if elected to the position, he won’t take a salary for it. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.Sustainability–this electric company’s bottom line and propositionCLEVELAND -- Alyssa Nakken, the first woman to coach in a Major League Baseball game, is leaving the San Francisco Giants to join the Cleveland Guardians. Nakken made history in 2022 when she took over as first-base coach following an ejection. A former college softball star at Sacramento State, Nakken joined the Giants in 2014 and was promoted to a spot on manager Gabe Kapler's staff in 2020, becoming the majors' first full-time female coach. Nakken has been hired as an assistant director within player development for the Guardians, who won the AL Central last season under first-year manager Stephen Vogt — the AL Manager of the Year. With Cleveland, the 34-year-old Nakken will work with former Giants coaches Craig Albernaz and Kai Correa. Her exact duties are still being determined. "We thank Alyssa Nakken for her incredible contributions to the San Francisco Giants and for trailblazing a path for women in sports,” the Giants said in a statement on Friday. "Her leadership, dedication, and passion for the game have inspired countless individuals, and her impact has been truly transformative for the Giants organization and the baseball community. “As she embarks on this exciting new chapter in her career, we have no doubt that she’ll continue to inspire and achieve great things. We wish her and her family nothing but the best.” Nakken is the second on-field female coach hired by the Guardians. In 2023, the club brought in Amanda Kamekona as their hitting development coach for their year-round training academy in Goodyear, Arizona. Last season, she was an assistant hitting coach at Double-A Akron. Kamekona was twice a third-team All-American at UCLA after transferring from Cal State Fullerton. ___ AP MLB: https://apnews.com/hub/mlb

Under its de facto leader, Crown Prince Mohammed bin Salman, Saudi Arabia has unleashed a spending spree on global sports, turning the kingdom into a contender for the biggest events. On Wednesday, soccer's governing body delivered Saudi Arabia the biggest prize of all: the men's World Cup in 2034. No other competition on the planet attracts as many eyeballs as the century-old quadrennial, a national team competition that thrusts host nations into center stage in a way only the Summer Olympics can match. But human rights groups objected to the Saudi bid, saying the country's human rights record raises risks for the thousands of migrant workers from some of the poorest parts of the Earth who will likely be brought in to build the infrastructure -- stadiums, airports, roads and hotels, and even a new city -- to stage the tournament, as per NYT News Service report . Also Read : Who is Jay-Z's alleged illegitimate son? 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Under FIFA's rules, the organization's 211 member nations are supposed to select one tournament host during a single vote, and usually there are multiple contenders. This year, though, FIFA's members picked hosts at the same time for two tournaments: the World Cup in 2030 and 2034. And they were asked to make their selection in a package deal, essentially approving the bids for both tournaments, or for neither. The only contender for the 2030 event was, for the first time, a group of six countries from three continents -- Spain, Portugal, Morocco, Argentina, Uruguay and Paraguay. So any nation that voted against the Saudi bid would also be voting against those countries hosting the 2030 event, too. The members were told to make their selection by acclamation and without debate. The selections of the two multibillion-dollar tournaments were confirmed after members were asked to raise their hands and applaud during a meeting held on the videoconferencing platform Zoom. FIFA said recently that the rule changes "followed a comprehensive consultation process across all confederations," but has not explained why the bids for the two tournaments were combined. Last week, FIFA published an evaluation of the Saudi bid, saying the country was on the path toward reforming its labor system, with changes that will reduce risk to workers engaged in the building work required for the World Cup. Also Read : Who will get the $60,000 reward for identifying Luigi Mangione, alleged killer of UnitedHealthcare CEO Brian Thompson? Here's how it will be paid Amnesty International denounced that report as an attempt to "whitewash" Saudi Arabia's "appalling" human rights record. FAQs Q1. When will Saudi Arabia host FIFA World Cup? A1. Saudi Arabia will host FIFA men's soccer world cup in 2034. Q2. Where will FIFA World Cup 2030 be held? A2. FIFA World Cup 2030 will be held in Spain, Portugal, Morocco, Argentina, Uruguay and Paraguay. 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Maryam condoles martyrdom of 4 Rangers men Maryam says miscreants are writing bloody chapter in political history LAHORE: Punjab Chief Minister Maryam Nawaz has regretted the martyrdom of four Rangers personnel. “The martyrs were someone’s sons and brothers, injustice was done,” she said while expressing sorrow over the martyrdom. She condemned the miscreants for crushing the personnel by a vehicle. “Is killing and injuring others considered a peaceful protest? The miscreants are writing a bloody chapter in political history.” Meanwhile, chairing a meeting on agriculture, Maryam said for the first time, there is an abundance of fertilizers in Punjab in the Rabi season, and prices have come down. She said: “As much as 30% more stock of DAP fertilizer is available in Punjab, and a 17% reduction in its price during the wheat season has been observed for the first time. As much as 125% more stock of urea fertilizer than required is available, and a 25% reduction in its price has been observed in the province. The wheat cultivation target on 16.5 million acres across Punjab has been set and 82% of sowing target has been achieved.” She said: “The wheat cultivation target will be met across the province by December 10. Wheat cultivation on 326,000 acres of government land across Punjab has been set. Forty thousand agriculture graduate interns are available to assist farmers. Applications have been invited for a free grant of 1,000 green tractors and 1,000 land levelers for wheat farmers under a government scheme.” She directed authorities to improve wheat storage capacity. She appreciated the agriculture minister and his team for their efforts in this regard.North Bend’s girls won three times in a busy week to improve to 6-2 on the season. The Bulldogs beat Newport 49-33, North Valley 40-18 and Dallas 55-22, all at home, to run their winning streak to four games. They also hosted Estacada on Monday (the score was not available) and next visit Siuslaw on Dec. 30. : Bandon picked up a trio of wins during the week. The Tigers topped Powers at home 50-30 and then won on the road against Monroe 56-47 and Lowell 55-18. The Tigers, now 5-2, host Siuslaw on Jan. 2 in the first round of the Bandon Dunes tournament. Myrtle Point won all three of its games last week to improve to 6-0 on the season. The Bobcats topped Camas Valley 60-42 on the road and won at home against Glide (45-31) and beat Lost River (33-27) in a game at Gold Beach. Myrtle Point is off until facing North Douglas in the first round of the Bandon Dunes tournament on Jan. 2. : Reedsport beat visiting Riddle 54-42 last week for its first victory of the year. The Brave also lost to Toledo 70-23. Reedsport is at Camas Valley on Dec. 27 and hosts New Hope on Dec. 30. : Powers bounced back from its loss to Bandon to beat South Wasco County 54-36 on Saturday, improving to 3-5 on the season. The Cruisers face Toledo on Thursday in the opening round of the Clemens Holiday Tournament at Eddyville. Pacific beat Mohawk 49-37 and topped South Wasco County 43-41 last week to improve to 2-2 on the season. The Pirates face Monroe at Alsea on Thursday in the first round of the Clemens Holiday Tournament. Bandon topped Monroe 35-26 and Lowell 58-26 on the road last week after earlier losing at home to Days Creek 50-48. The Tigers now have two losses by a combined five points. The Tigers host La Pine on Jan. 2 in the first round of the Bandon Dunes tournament. Myrtle Point fell to both Glide (49-38) and Lost River (68-43) on back-to-back days last week. Myrtle Point also beat Camas Valley 64-46. The Bobcats are off until facing Coquille on Jan. 2 in the first round of the Bandon Dunes tournament. Coquille played three games in the Logger Classic at Eureka, but only the score of the opener, a 72-39 loss to Shasta, was available. Reedsport edged visiting Toledo 55-53 last week for its second straight win, having also beaten Crow 60- 20. The Brave fell to Sutherlin 64-45 on Thursday and next visit Camas Valley on Friday. Pacific was tipped by Mohawk 40-39 in a game at Bandon and fell to South Wasco County 54-31 at home last week. The Pirates next play in the Clemens Holiday Tournament starting Friday. Powers beat Bandon’s JV team last week 43-30 before losing to South Wasco County 55-39. The Cruisers face Toledo on Thursday in the opening round of the Clemens Holiday Tournament.