Federal Reserve Chair Jerome Powell said “the U.S. is on an unsustainable fiscal path” in a “60 Minutes” interview with Scott Pelley released Sunday. “The U.S. federal government’s on an unsustainable fiscal path. And that just means that the debt is growing faster than the economy. So, it is unsustainable. I don’t think that’s at … Read more
The U.S. Treasury building in Washington, D.C., on Aug. 15, 2023. Nathan Howard | Bloomberg | Getty Images The U.S. government ran up another half a trillion dollars in red ink in the first quarter of its fiscal year, the Treasury Department reported Thursday. For the period from October 2023 through December 2023, the budget … Read more
Chinese President Xi Jinping chairs a symposium on advancing the integrated development of the Yangtze River Delta and delivers an important speech in east China’s Shanghai, Nov. 30, 2023. Xinhua News Agency | Xinhua News Agency | Getty Images China’s top decision-making body of the ruling Communist Party on Friday said that the country’s fiscal … Read more
Italian Prime Minister Giorgia Meloni. Antonio Masiello | Getty Images News | Getty Images Italy could face yet more economic pressure as the European Union faces a standoff over new debt rules. The 27 member states of the EU have been at odds over new debt rules for several months. The idea is to make … Read more
Individuals rejoice the Gitlab IPO on the Nasdaq, October 14, 2021. Supply: Nasdaq GitLab shares rose 31% on Tuesday after the supplier of code-deployment software program notched a loss that was narrower than analysts anticipated whereas reporting an improved full-year forecast. The inventory loved its greatest day since GitLab’s 2021 Nasdaq debut. It is nonetheless … Read more
Kemal Dervis, a Turkish economist who left the World Financial institution to return house in 2001 as a disaster supervisor with Turkey’s economic system collapsing, serving to calm the fiscal storm however stirring protests over austerity measures and worldwide oversight, died on Could 8 at 74. The loss of life was introduced by the U.N. … Read more