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ECONOMY

In North Dakota, as for the rest of the country, it’s not really clear what happens next. Much will depend on how the Federal Reserve continues to manage the economy; even more will depend on how quickly inflation continues to rise.
The Great Plains Food Bank anticipates a 1 million pound distribution shortfall this fiscal year, equivalent to 800,000 meals.
If we want North Dakota to be open for business, we need to make sure our workers can find child care. We need child care workers as acutely as we need teachers and nurses.
It will be "something different from what you usually see from our administration," Lt. Gov. Brent Sanford said on this issue of Plain Talk.

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Despite the second straight weekly decline reported by the Labor Department on Thursday, claims are hovering near a five-month high. There have been job cuts in sectors like technology and housing amid fears of a recession as the Federal Reserve aggressively tightens monetary policy to quell price pressures.
The president will also call on states to temporarily suspend state fuel taxes, which are often higher than federal rates, and he will challenge major oil companies to bring back idled refining capacity.
Particularly galling to the White House is the jump in industry stock buybacks, returning to investors profits that the administration wants invested in more refining capacity to bring gasoline prices down.
May’s rate is the lowest rate reported since the state started tracking the metric in 1976, according to the Department of Employment and Economic Development. Construction posted the strongest gains.
More than a year later, price increases at 40-year peaks have proven to be anything but, so much so that the Fed this week appears ready to hike interest rates by the most since 1994 to quell them.
A hotter-than-expected inflation reading has even thrown some doubt on expectations.

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All one has to do is watch the rising commodities market regarding oil, natural gas, fuel, wheat, corn and soybeans. It foretells what will be a continuing rise in grocery bills and transportation costs.
Dr. David Flynn, an economist from the University of North Dakota, joins this episode of Plain Talk to discuss the deeply complicated issue of inflation.
Biden's plan to unveil a package to spur recovery in Latin America, help stem immigration and counter China's growing regional economic clout has been marred by Washington's decision to exclude Cuba, Venezuela and Nicaragua from the summit.

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