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‘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…
‘We averted an economic crisis and economic collapse,’ says president in address to the nation about deal, but will not sign bill before SaturdayHere’s more on how the debt ceiling crisis will impact the US’s credit rating, from the Guardian’s Joan E G…
Compromise package to suspend debt ceiling passed US Senate late on Thursday with 63 votes to 36 The bipartisan bill to solve the US debt ceiling crisis just days before a catastrophic and unprecedented default was on its way to Joe Biden’s desk on Fri…
Some payday loans have interest rates as high as 664% – but now Minnesota will cap them at 36%, in line with some other statesMeka Armstrong of Detroit, Michigan, has struggled in a cycle of debt from payday loans for years. She first took out a payday…
With just days before the 5 June default deadline, president Joe Biden has indicated he will sign the bill as soon as it reaches his deskThe Senate narrowly passed a bill to suspend the debt ceiling on Thursday night, sending the legislation to Joe Bid…