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Fitch changed the country’s rating from AAA to AA+, citing fiscal deterioration and down-to-the wire debt ceiling negotiationsRating agency Fitch downgraded the US government’s top credit rating on Tuesday, a move that drew an angry response from the W…
Economy is being anchored by labor market and businesses are boosting investment, potentially holding off a recessionThe US economy grew faster than expected in the second quarter as labor market resilience underpinned consumer spending, while business…
US economy remains robust despite the 11 rate rises the Fed has implemented – its most aggressive rate-rising cycle in 40 yearsThe US Federal Reserve raised interest rates to a 22-year high on Wednesday as it continued its fight against rising inflatio…
US Fed will also have to raise rates more aggressively than forecast, says Washington-based bodyInterest rates in the UK will need to stay higher for longer than previously forecast in order to tackle stubbornly high inflation, the International Moneta…
‘Not too early to start chilling the champagne,’ says one analyst as traders toast drop in consumer inflation Britain’s blue-chip share index has posted its biggest one-day jump of 2023 after US inflation slowed by more than expected last month.The FTS…
Joe Biden’s team focuses on voters’ dim perception of president’s handling of economy despite signs of positive performanceAs Joe Biden launches his 2024 re-election campaign, the White House is hoping to revamp the messaging on the president’s economi…
Even with the pause, Fed officials suggest further increases may come depending on how close economy gets to 2% inflation targetUS Federal Reserve officials have announced a pause in interest-rate hikes, leaving rates at 5% to 5.25% after more than a y…
Inflation year-over-year in May was down 0.9% compared with April and is the lowest rate since April 2021The prices of goods and services in the US rose 4% over the last year, showing a cooling of prices as the Federal Reserve considers pausing interes…
Kevin McCarthy, the House speaker, secured a number of cuts on federal spending, with the borrowing limit suspended until 2025Joe Biden signed a bill on Saturday to suspend the US debt ceiling, ending a months-long standoff with the Republican House sp…
President described how ‘no one got everything they wanted, but the American people got what they needed’ during brief speechJoe Biden celebrated Congress’s approval of a debt-ceiling suspension in a speech delivered from the Oval Office on Friday nigh…