A new mandate by President Biden requires all employers with 100 or more employees to make sure they’re fully vaccinated or show a negative COVID test at least once a week. He and some experts believe it will not only help protect Americans but also help the economy. In other related news, one grocery stores chain says prices are going to head even higher by the end of the year.
CBS News/Aimee Picchi
Biden’s vaccine mandate could be a shot in the arm for U.S. economy, experts say
President Joe Biden’s sweeping vaccine mandate aims to protect more Americans from COVID-19 by requiring that millions of employees at large companies get the shot. Beyond boosting public health, the mandate has another goal: To get the U.S. economic recovery back on track after the Delta variant’s spread crimped job growth and consumer confidence.
“We cannot let the unvaccinated [undo] this progress,” Mr. Biden said on Thursday when he announced the mandate, noting that the spike in COVID-19 cases has slowed the nation’s recovery.
In Mr. Biden’s eyes, the vaccine mandate — which requires all employers with 100 or more employees ensure their workforces are fully vaccinated or show a negative COVID test at least once a week — will not only protect lives, but the economy. And economists say the spread of the highly contagious Delta variant has underscored that the economy isn’t likely to fully recover until the public health crisis is contained. Already, states with low vaccination rates are witnessing slower job growth than states where more of the population is vaccinated, according to some economic data.
You can read the full story, here.
Fox Business/Jonathan Garber
Grocery prices headed higher: Kroger
Grocery prices are headed higher later this year, according the U.S.’s largest supermarket by sales.
Cincinnati-based Kroger Co., which had $132 billion in sales last year, says inflation is running hotter than management previously anticipated and that expectations are now for prices to rise 2% to 3% over the second half of this year.
Kroger is “passing along higher cost to the customer where it makes sense to do so,” said CFO Gary Millerchip on the company’s second-quarter earnings call on Friday.
Management at Kroger rival Albertsons Companies Inc. earlier this summer expressed similar concerns that inflation would pick up in the second half of the year and that they too would pass some of those increased costs along to consumers.
Read the full story, here.
Yahoo Finance via USA Today/Russ Wiles, Arizona Republic
5 key questions to ask yourself about financial preparations for retirement
Many people head into retirement with unrealistic expectations and assumptions.
Often, it’s a matter of budgeting incorrectly or carrying too much debt. Some individuals might miscalculate how soon retirement might be thrust upon them, or they don’t have a good mix of assets to help make ends meet.
When these or other assumptions are off base, it can cause anxiety and lead to serious belt-tightening. Here are some of the key questions to ask yourself about your financial preparations, preferably years before you plan to exit the workforce.
Continue reading, here.