Written by The UK’s economic performance in 2024 was mixed to say the least: while inflation fell below the 2% target in early autumn – and has been outstripped by annual wage growth of 5.2% – it is on the rise again. Meanwhile, forecasts for the pace of interest rate cuts have been trimmed and businesses have […]
Donald Trump offered his full support for House Speaker Mike Johnson. Johnson is hoping to be reelected as House speaker on Friday. Trump’s endorsement may quell a growing frustration about Johnson’s leadership. President-elect Donald Trump has set up another quasi-loyalty test for House Republicans before he formally reenters the White House. On Monday, Trump endorsed […]
J Studios | Digitalvision | Getty Images In Saïd Sayrafiezadeh’s fictional short story, “Minimum Payment Due,” the main character is trapped in credit card debt and desperate for a way out. The fact that the experience is common — more than a third, or 38%, of adults in the U.S. have credit card debt, according […]
The news comes after President Joe Biden signed a bill into law last week that averted a government shutdown but did not include President-elect Donald Trump’s core debt demand to raise or suspend the nation’s debt limit. The bill was approved by Congress only after fierce internal debate among Republicans over how to handle Trump’s demand. “Anything else is a betrayal […]
US Treasury Secretary Janet Yellen said her department will need to start taking so-called “extraordinary measures” to prevent the nation from hitting the debt ceiling as early as January 14. If the US does hit the debt ceiling, the Treasury Department, responsible for ensuring financial security, will not have enough cash on hand to pay back […]
The federal debt currently stands at roughly $36 trillion — which ballooned across both Republican and Democratic administrations. WASHINGTON (AP) — Treasury Secretary Janet Yellen said her agency will need to start taking “extraordinary measures,” or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling, as early as January 14, in a letter sent […]
President Joe Biden is abandoning his efforts to provide some protections for transgender student-athletes and cancel student loans for more than 38 million Americans, the first steps in an administration-wide plan to jettison pending regulations to prevent President-elect Donald Trump from retooling them to achieve his own aims. The White House expects to pull back […]
China must address a rising problem of overinvestment in large but inefficient projects that is more rooted in habitual practice than any consideration of economic productivity, think tank scholars said. Governments must make rational adjustments and “know where to hit the brakes and where to step on the gas” in order to ensure sustainable economic […]
President-elect Donald J. Trump is known for his tight grip on members of his party, but the rare rejection of his demand to suspend the debt limit reflected a disconnect that could plague his policy agenda. Source link
Federal agencies are now analyzing which rules to finish and which to pull back before the end of Biden’s term, the official said. In recent years, presidents have tended to rely more on executive orders and federal regulations to sidestep gridlock in Congress. However, the rulemaking process can be less durable than legislation, leaving policies […]