Showing 1 - 10 of 124
Deal averting US default clears first hurdle
AFP, Published on 31/05/2023
» WASHINGTON: A deal to raise the US debt ceiling passed its first major test in Congress on Tuesday, surviving a crucial procedural vote amid a conservative backlash that resurrected the threat of the country's first-ever default.
US warned debt standoff could hit credit rating
AFP, Published on 25/05/2023
» WASHINGTON: Ratings agency Fitch put the United States on notice Wednesday that its perfect credit rating could be jeopardised if the White House and Republican opposition fail to overcome their impasse on raising the nation's borrowing limit, a week before a key deadline.
As in 2008, JPMorgan chief plays key role in bank rescue
AFP, Published on 18/03/2023
» NEW YORK: Consulted by policymakers and able to nudge his peers into action, JPMorgan Chase CEO Jamie Dimon played a key role in a bank rescue effort this week -- a situation sparking reminders of 2008.
Fed delivers another steep rate hike with more to come
AFP, Published on 03/11/2022
» WASHINGTON: The Federal Reserve delivered another steep interest rate increase on Wednesday, as expected, with its move to cool red-hot inflation taking on more weight amid the political maelstrom ahead of key US midterm elections.
Biden signs major semiconductors investment bill to compete against China
AFP, Published on 10/08/2022
» WASHINGTON: President Joe Biden signed into law Tuesday a multibillion dollar bill boosting domestic semiconductor and other high-tech manufacturing sectors that US leaders fear risk being dominated by rival China.
Fed set for another big rate hike with economy on knife's edge
AFP, Published on 24/07/2022
» WASHINGTON: US central bankers face an increasingly difficult balancing act as they struggle to douse scorching inflation while still keeping the economy growing, though they have made it clear they are willing to risk a recession.
US could face more inflation 'surprises': Fed's Powell
AFP, Published on 22/06/2022
» WASHINGTON: The US economy is strong but faces an "uncertain" global environment and could see further inflation "surprises," Federal Reserve Chair Jerome Powell said Wednesday.
US recession not 'inevitable,' Treasury secretary says
AFP, Published on 19/06/2022
» WASHINGTON: A recession in the United States is not "inevitable," Treasury Secretary Janet Yellen said Sunday, just days after the US Federal Reserve hiked interest rates, raising fears of an economic contraction.
Is recession the only way out of US inflation scourge?
AFP, Published on 17/06/2022
» WASHINGTON: A massive interest rate hike by the US Federal Reserve and promises of more to come are fueling warnings that the only offramp from the searing price hikes engulfing American families is a full-blown recession.
US inflation skyrockets, piling pressure on Biden
AFP, Published on 11/06/2022
» WASHINGTON: US inflation surged to a new four-decade high in May, defying hopes that price pressures had peaked and deepening President Joe Biden's political troubles as Americans struggle to meet the cost of essentials like food and gas.