US Reaches Debt Ceiling, Forcing Treasury Into ‘Extraordinary Measures’
U.S. has officially reached its statutory debt limit of $31.381 trillion on Jan. 19 as was predicted by Sec. Janet Yellen in a letter to Congress on Jan. 13, 2023.
Biden Jabs at Musk’s ‘Super Bad Feeling’ About Economy, Musk Replies With Disarming Tweet
Biden took a jab at Tesla CEO Elon Musk’s “super bad feeling” about the economy comment suggesting Musk was out of touch with reality.
IN-DEPTH: Dangerous Global Shift From Dollar Driven by CCP and US Policy, Experts Say
Experts warn that the CCP and US policymakers are undermining the US dollar’s global reserve status, with potentially catastrophic implications for Americans
America’s Economy Fell Into a Technical Recession, New GDP Data Confirms
Latest readings on U.S. GDP for 2nd quarter saw economy contract at slightly slower pace, but it still remains in a technical recession.
Moody’s Slashes US Outlook to ‘Negative’ Due to Too Much Government Spending
The rating agency also cited political brinkmanship in Washington as a factor behind its decision to slash the outlook for U.S. government debt.
Elon Musk Wades Into Inflation Debate as Fed Tees Up Another Jumbo Rate Hike
Tech entrepreneur Elon Musk weighed in on inflation debate as Federal Reserve prepared to deliver large rate hike to cool soaring prices.
Americans are feeling gloomier than ever about their finances: Just 31% believe their situation...
Americans' confidence in their finances is at its lowest level in last 13 years, as inflation and fears of recession cast a pall of uncertainty over the economy.
Oil Jumps After Biden Fails to Win Saudi Pledge to Pump More Crude
Oil prices rose as U.S. dollar softened and Biden wrapped up trip to Saudi Arabia, failing to secure pledge from country to boost crude output.
IRS Waiving $1.2 Billion in Taxpayer Penalties; Here’s Who Qualifies
IRS will waive penalties levied against taxpayers who failed to file their 2019 and 2020 returns in a timely manner during COVID-19 pandemic.
Recession Coming in 2024: Economic Forecaster
American industry will slow down next year, then fall into a recession the year after, according to ITR Economics, an economic forecaster.
Yield Curve Inversion Reaches New Extremes
A scenario in which short-term yields exceed long-term yields is known as an inverted yield curve and is often seen as a red flag that a recession is looming.
Federal Reserve Leaves Interest Rates Unchanged, Signals 3 Cuts This Year
The Federal Reserve kept interest rates unchanged at the FOMC policy meeting but officials signaled that three rate cuts were still planned for this year.
