The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
the staff of the Ridgewood blog
WASHINGTON, D.C. — The United States trade deficit fell sharply to $60.2 billion in June, its lowest level in nearly two years, according to fresh data released by the federal government yesterday.
Continue reading U.S. Trade Deficit Falls to 2-Year Low as Imports Drop Ahead of Tariffs
photo Treasury Secretary Scott Bessent
the staff of the Ridgewood blog
Washington DC, Treasury Secretary Scott Bessent signaled Monday that it may be time for a sweeping review of the Federal Reserve—beyond the current controversy over costly renovations—to examine whether the central bank is truly fulfilling its mission.
photo of painting of Alexander Hamilton
the staff of the Ridgewood blog
WASHINGTON, D.C. — So much for the “tariffs equal runaway inflation” narrative. The latest data from the Bureau of Labor Statistics (BLS) shows that wholesale prices were completely flat in June, suggesting that fears of tariffs causing a major price surge may be more hype than reality.
Continue reading Tariffs Aren’t Fueling Inflation: June Producer Price Index Shows Zero Growth
the staff of the Ridgewood blog
WASHINGTON, D.C. — The U.S. job market showed unexpected strength in June 2025, with nonfarm payrolls rising by 147,000 and the unemployment rate dropping to 4.1%, according to the Bureau of Labor Statistics (BLS). The report defied analyst predictions, reinforcing the resilience of the American labor force despite ongoing economic headwinds.
Continue reading June Job Growth Surges Past Expectations, Unemployment Drops to 4.1%
Once a symbol of luxury, a million-dollar net worth is now average in the U.S. — here’s how we got here
the staff of the Ridgewood blog
Ridgewood NJ, in the past, millionaires were revered — symbols of success, wealth, and sometimes, envy. Today? Not so much. According to the Federal Reserve, the average (mean) net worth of an American household has topped $1 million for the first time in history. With over 22 million millionaire households in the U.S., being a millionaire is no longer rare — it’s practically mainstream.
Continue reading The Explosive Rise of Millionaire Households in America
the staff of the Ridgewood blog
WASHINGTON DC, inflation came in slightly lower than expected in April 2025, offering cautious optimism for consumers and policymakers alike. According to the U.S. Bureau of Labor Statistics, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2% on a seasonally adjusted basis in April, following a 0.1% decrease in March.
Continue reading April Inflation Cools Slightly: CPI Rises 0.2% as Food Prices Dip
file photo
the staff of the Ridgewood blog
Chicago Il, Federal Reserve Chairman Jerome Powell issued a cautious economic outlook on Wednesday, stating that the central bank will “wait for greater clarity” before considering any changes to interest rates. His comments come amid rising concerns that President Trump’s tariffs may fuel both higher inflation and slower economic growth, creating a policy dilemma for the Fed.
Continue reading Fed Chair Jerome Powell: Tariffs Could Spark Higher Inflation, Slower Growth
