Shutdown in US: White House calls on to prepare for the worst
A shutdown is still possible in the US, despite the fact that President Joe Biden previously announced that Congress would agree on budget spending
US economy
US national debt reaches $34 trillion
The US national debt exceeded $34 trillion. Over the year, the national debt increased by $4 trillion. By the beginning of next January, the US national debt will reach the ceiling again. It was shifted to avoid default in the summer of 2023.
U.S. top-tier credit rating downgraded
International ratings agency Fitch said it had downgraded the United States' Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'AA+' …
Biden signs debt ceiling bill
The head of the US administration signed a bill to raise the national debt ceiling of the country
Biden to sign bill to raise national debt ceiling soon
Biden intends to sign a bill to raise the national debt ceiling as soon as possible. The bill's purpose is to prevent default in the country.
Biden says he can’t guarantee GOP won’t force U.S. default
U.S. President Joe Biden cautioned that congressional Republicans may do something “outrageous” to force the U.S. to default on its loans, as the negotiations between congressional Republicans and the White House over whether to raise …
U.S. debt default could occur in early June
U.S. Treasury Secretary Janet Yellen said in a letter to Congress that the U.S. could be unable to pay its bills by as early as June 1, meaning the federal government is at risk of defaulting for the first time in history. The news …
Why US may face default
The White House is concerned about the threat of a default due to the unwillingness of the country's president to speak with the speaker of the House about raising the national debt ceiling
IMF urges to increase U.S. debt ceiling
Failure to increase the U.S. debt ceiling would have serious repercussions for the United States and the global economy, an International Monetary Fund spokesperson said on Friday, urging involved parties to work to resolve the standoff. …
Fed's Collins: another 75-bps hike could be ahead
Federal Reserve Bank of Boston leader Susan Collins said that with little evidence price pressures are waning, the Fed may need to deliver another 75-basis point rate hike as it seeks to get inflation under control. "We're now …
Labor Secretary warns of economic ‘catastrophe’ in U.S.
Labor Secretary Marty Walsh is claiming that it will be a "bigger catastrophe" for the U.S. economy if Congress does not pass a bipartisan "comprehensive immigration reform" package - something the Biden administration …
Fed again raises U.S. interest rate by 75 basis points
The U.S. Federal Reserve raised the benchmark interest rate by 75 basis points for the second consecutive month on Wednesday as it intensifies the fight against 40-year-high inflation. The Federal Open Market Committee voted unanimously …
Yellen: U.S. economy slowing, but recession not inevitable
U.S. Treasury Secretary Janet Yellen said on Sunday that U.S. economic growth is slowing and she acknowledged the risk of a recession, but she said a downturn was not inevitable. Yellen, speaking on NBC's "Meet the Press," …
U.S. Fed hikes interest rates for first time since 2018
The U.S. Federal Reserve raised interest rates for the first time since 2018 and laid out an aggressive plan to push borrowing costs to restrictive levels next year in a pivot from battling the coronavirus pandemic to countering the economic …
Biden: U.S. risks losing its economic advantage
U.S. President Joe Biden warned the country risks losing its economic advantage in the world without large-scale investments in its own infrastructure. "We’re at an inflection point. Every — anywhere from 40 to 80 years …
U.S. on a path to default
The U.S. debt ceiling officially became operative again on Sunday after a two-year suspension, with lawmakers in Washington yet to outline how they’ll avoid a potential default later this year. The debt limit - the total …
U.S. Fed holds rates near zero
The U.S. Federal Reserve on Wednesday held its benchmark interest rate near zero and said the economy continues to progress despite concerns over the pandemic spread. As expected, the Federal Open Market Committee concluded its two-day …
U.S. keeps ultra-low interest rate policies in place
The U.S. Federal Reserve held interest rates and its monthly bond-buying program steady on Wednesday, nodding to the U.S. economy's growing strength but giving no sign it was ready to reduce its support for the recovery. The Fed …
Biden eyeing capital gains tax as high as 43.4% for wealthy
U.S. President Joe Biden will propose almost doubling the capital gains tax rate for wealthy individuals to 39.6% to help pay for a raft of social spending that addresses long-standing inequality, according to people familiar with the …
Treasury Secretary confident $1.9 trillion bill to help bring U.S. "back to full employment"
Treasury Secretary Janet Yellen said today that the $1.9 trillion American Rescue Plan, which passed in the Senate on Saturday, will benefit the economy, and she said she hoped the country and economy would be "back to full …
