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
Market optimism over the potential for interest rate cuts next year is dangerously overdone, according to former FDIC Chair Sheila Bair. Bair, who ran the FDIC during the 2008 financial crisis, suggested Federal Reserve Chair Jerome Powell was irresponsibly dovish at last week’s policy meeting by creating “irrational exuberance” among investors. “The focus still needs … Read more
German Chancellor Olaf Scholz (C), Finance Minister Christian Lindner (R) and Economy Minister Robert Habeck give statements to the media following the weekly government cabinet meeting on November 15, 2023 in Berlin, Germany. Sean Gallup | Getty Images News | Getty Images Germany’s budget is in trouble. Last week, the constitutional court ruled that it … Read more