- Yahoo Finance
A default on U.S. debt could be catastrophic for the U.S. economy but what makes matters worse is that nobody is quite sure when the limit will actually be reached.
(Bloomberg) -- A group of former Goldman Sachs Group Inc. and Morgan Stanley executives have joined a crypto-trading platform started by their peers, part of a growing cohort of Wall Street veterans betting on the volatile world of digital assets.Most Read from BloombergIstanbul Turns Taps on Old Fountains, Joining Global Push for Free DrinksThe Global Housing Market Is Broken, and It’s Dividing Entire CountriesIn Paris, the Wrapped Arc de Triomphe Is a Polarizing PackageHow the Child Care Crisi
- Detroit Free Press
Bobby Ryan, 34, signed a tryout deal in hopes of making the Detroit Red Wings roster.
The Chinese growth model is dependent on producing real estate, and Harvard economist Kenneth Rogoff has been warning about the dangers of such reliance.
- The Fiscal Times
Democrats are in the middle of a major effort to raise taxes on the wealthiest Americans to help offset the cost of their proposed expansion of the social safety net. “How is it possible for millionaires and billionaires that can pay a lower rate of tax than teachers, firefighters, or law enforcement officers?” President Joe Biden asked during remarks on the economy delivered at the White House last week. “Big corporations and the super wealthy have to start paying their fair share of taxes. It’
‘Dramatic’ increase in IRS capital-gains transactions as Biden administration considers raising tax rates on the wealthy
Through July, millionaires reported roughly $140.5 billion in combined capital gains and/or losses, up from $118.4 billion one year earlier.
- Yahoo Finance
Fed Chairman Jerome Powell on Wednesday teed up the start of a pullback in the central bank’s extraordinary crisis-era monetary stimulus, saying that it could wrap up its asset purchase program before the end of 2022.
Trump is suing his niece Mary Trump, The New York Times and three of its reporters.
It's "not an agenda," the Watergate journalist told MSNBC's "Morning Joe."
The Federal Reserve may not be able to shield the economy and financial markets from the effects of a U.S. debt default, the central bank's chief said on Wednesday as he urged Congress to raise the country's debt limit to avoid that catastrophic risk. “It’s just very important that the debt ceiling be raised in a timely fashion so that the United States can pay its bills as and when they come due,” Fed Chair Jerome Powell said. “The failure to do that could result in severe damage to the economy and financial markets, and it’s just not something we should contemplate.”
(Bloomberg) -- Nouriel Roubini -- renowned for foreseeing the mortgage collapse that helped produce the 2008 financial crisis -- said the post-pandemic world seems to be heading toward a repeat. Most Read from BloombergThe Global Housing Market Is Broken, and It’s Dividing Entire CountriesIstanbul Turns Taps on Old Fountains, Joining Global Push for Free DrinksMerkel’s Legacy Comes to Life on Berlin’s ‘Arab Street’Is There Room for E-Scooters in New York City?For Christo and Jeanne-Claude, Wrapp
- Yahoo Finance UK
The International Trade Committee said that current inward foreign direct investment is dominant in London and the South East.
- Yahoo Finance
The Federal Reserve on Wednesday telegraphed it could hike rates six to seven times by the end of 2024, illustrating the central bank’s optimism that the COVID-19 recovery will progress well enough for the Fed to tighten its easy money policies in a few years.
- The Fiscal Times
With Republicans vowing to reject any bipartisan effort to raise or suspend the debt ceiling, and Democrats sticking to their plan to address the limit through a bill that requires support from both parties, the threat of default on U.S. payment obligations now looms over the economy – a scenario that could cause an immediate and deeply painful recession, according to a new report from Moody’s Analytics. In their analysis, Moody’s chief economist Mark Zandi and co-author Bernard Yaros found that
China should abandon a top-level strategy promoted by President Xi Jinping to increase self-reliance, or risk harming innovation and growth prospects, said a European business group on Thursday. "There are troubling signs that China is increasingly turning inwards ... and this tendency is casting considerable doubts over the country's future growth trajectory," the report from the European Chamber of Commerce said. China has been trying to cut its dependence on overseas markets and technology in its long-term development, a shift brought on by a deepening rift with the United States, in a so-called "dual-circulation" strategy.
(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Most Read from BloombergIstanbul Turns Taps on Old Fountains, Joining Global Push for Free DrinksThe Global Housing Market Is Broken, and It’s Dividing Entire CountriesIn Paris, the Wrapped Arc de Triomphe Is a Polarizing PackageHow the Child Care Crisis Became a Global Economic FiascoMerkel’s Legacy Comes to Life on Berlin’s ‘Arab Street’Federal Reserve Chair Jerome Powell said the U.S
- Associated Press
Time growing shorter, President Joe Biden labored to thrash out stubborn final issues with fellow Democrats on his “build back better” agenda Wednesday, working to bridge intraparty divisions in Congress ahead of crucial voting deadlines. Biden and Democratic House and Senate lawmakers met in hours of back-to-back-to-back private White House sessions stretching into the evening, called at a pivotal juncture for Biden's $3.5 trillion package as lawmakers struggle to draft the ambitious effort. With Republicans solidly opposed, Democratic leaders are counting on the president to galvanize consensus between progressives and centrists in their party.
Your retirement planning likely includes getting income from the Social Security Administration, but when you start collecting Social Security benefits can have a big impact on your planning. The...
Demand for the Federal Reserve's overnight reverse repo facility touched a new record of $1.28 trillion on Wednesday, a day before caps for each counterparty will be doubled to $160 billion a day.
- Yahoo Finance Video
Jessica Smith joins Brian Sozzi and Emily McCormick to break down The House bill that would help avoid a government shutdown on October 1 by funding the government and suspending the debt limit for a short-term and how Republican opposition in the Senate could lead to significant ramifications.