The potential default by the U.S. government on its debt has been a looming threat with far-reaching consequences, both domestically and internationally. A default would have significant impacts on the global economy, which relies on the relative stability of the United States. Interest rates would increase, and investment into Treasury securities would stop, impacting people’s […]
Continue readingAs the US government approaches the debt ceiling, negotiations between Democrats and Republicans have intensified, with President Joe Biden meeting with top congressional leaders to try to broker a deal. However, the talks have hit a snag, with Republicans pushing for steep spending cuts in exchange for raising the debt ceiling, something Democrats have rejected. […]
Continue readingPresident Joe Biden and House Speaker Kevin McCarthy recently met for their second meeting in a week, but little progress was reported on raising the debt ceiling.[0] With a looming debt ceiling deadline and growing dissatisfaction among lawmakers, some Senate Democrats are circulating a letter urging President Biden to invoke the 14th Amendment to lift […]
Continue readingThe United States is facing a potentially catastrophic default if lawmakers are unable to reach an agreement on raising the debt ceiling. An alert has been issued by Treasury Secretary Janet Yellen, stating that by June 1, the country may exhaust its borrowing capacity, leaving negotiators with a limited time frame to come to a […]
Continue readingPresident Biden’s no-negotiation stance on the debt ceiling has been met with criticism from some who feel it is neither realistic nor sustainable.[0] This stance was born of past experience when Republicans dragged out debt talks with the Obama administration to the brink of default, resulting in a downgrade of the U.S.’s credit rating.[1] However, […]
Continue readingPresident Joe Biden and top lawmakers in Congress are continuing negotiations on raising the debt ceiling before the US defaults, which Treasury Secretary Janet Yellen has warned could happen as early as June 1. Last week, President Biden met with House Speaker Kevin McCarthy and three other top lawmakers to come to an agreement on […]
Continue readingThe United States government is currently facing a potential default on its debt, which would have disastrous consequences for the nation’s economy and financial markets. Treasury Secretary Janet Yellen has warned that the government could default as early as June 1 if legislation raising the debt ceiling is not passed. If the United States defaults […]
Continue readingThe Group of Seven (G7) Finance Ministers and Central Banks’ Governors have expressed concern over the risks posed by Iran and North Korea. Specifically, the officials meeting in Japan have warned about North Korea and its “illicit activities” related to “proliferation of weapons of mass destruction” and recent ballistic missile launches.[0] The G7 also voiced […]
Continue readingThe United States is facing a looming risk of default on its debt obligations, with negotiations over raising the debt ceiling at a standstill.[0] The Congressional Budget Office (CBO) has warned that if the debt limit remains unchanged, the government may no longer be able to pay all of its obligations by the first two […]
Continue readingThe latest data released by the US Labor Department on Wednesday shows that consumer prices rose 4.9% on an annual basis in April, the smallest year-over-year increase since May 2021. The figure comes in better than economists’ expectations for inflation to remain flat at 5%.[0] The rise in consumer prices marks the first time annual […]
Continue reading