President Joe Biden on Monday told Republican senators to “get out of the way” and let Democrats suspend the nation’s debt limit on their own, hoping to keep the U.S. government from coming dangerously close to a credit default as Senate Republican Leader Mitch McConnell refuses to lend his party’s help.
Following revelations that Federal Reserve officials made trades in financial assets while the Fed was taking extraordinary efforts to “stimulate” the economy, Federal Reserve Chairman Jerome Powell ordered a review of the Fed’s ethics rules.
Friday’s lackluster non-farm payrolls report, which showed American employers adding far fewer jobs in August than expected, is likely to cool enthusiasm among Federal Reserve policymakers for a quick roll-back of stimulus, some experts believe.
A new comprehensive study has shed light on the multi-trillion cost of the US' post-9/11 wars, which have been funded via soaring American debt. The researchers say that no single US government has yet presented the true picture of the toll the wars have taken on the United States.
The Federal Reserve kept its policy rate unchanged on Wednesday but sharply ramped up its expectations for economic growth — while affirming that it does not plan to raise interest rates until 2023. The central bank also curiously reworded the public statement accompanying its decision.