Democrats to increase debt ceiling by $2.5T

Democrats to increase debt ceiling by $2.5T

This post was originally published on this siteDemocrats will vote as soon as Tuesday to raise the debt ceiling by $2.5 trillion, which they expect will lift the nation’s borrowing cap until 2023.Senate Democrats unveiled a resolution to raise the debt ceiling on Tuesday, shortly before they are…

Read more
Congress reaches agreement to avert calamitous US debt default

Congress reaches agreement to avert calamitous US debt default

This post was originally published on this site US senators struck a deal Tuesday to create a one-time law allowing Democrats to lift the nation’s borrowing authority and avert a catastrophic credit default without requiring votes from the opposition Republicans. The House of Representatives approved the fix in an evening...

Read more
Treasury Secretary Janet Yellen says she’s confident inflation will ease next year

Treasury Secretary Janet Yellen says she’s confident inflation will ease next year

This post was originally published on this site Treasury Secretary Janet Yellen says she expects inflation pressures to ease in the latter half of next year. Yellen spoke to NPR from Scotland, where she’s attending climate meetings. (Image credit: Paul Ellis/AFP via Getty Images)

Read more
Republican leaders blame stimulus for rising US inflation

Republican leaders blame stimulus for rising US inflation

This post was originally published on this site Republican Senate leaders on Tuesday railed against rising US inflation rates, blaming the price increases on the flood of money from a pandemic stimulus package pushed by Democratic President Joe Biden earlier this year. Senate Minority Leader Mitch McConnell used the recent...

Read more
Supply bottlenecks, labor shortages slowed US growth, says Fed

Supply bottlenecks, labor shortages slowed US growth, says Fed

This post was originally published on this site Supply bottlenecks and labor shortages have slowed US economic growth and contributed to a sharp rise in prices, the Federal Reserve said Wednesday. The constraints and shortage of goods caused “significantly elevated prices” in most areas of the country, the Fed said...

Read more
Senate GOP signals they’ll help bail out Biden’s Fed chair

Senate GOP signals they’ll help bail out Biden’s Fed chair

This post was originally published on this siteRepublicans are signaling that they will help bail out Jerome Powell if he’s renominated to lead the Federal Reserve, amid opposition and skepticism from progressives.  The burgeoning fight over who will lead the nation’s central bank…

Read more
Yellen says ‘confident’ US will implement global minimum tax

Yellen says ‘confident’ US will implement global minimum tax

This post was originally published on this site US Treasury Secretary Janet Yellen said Sunday she was “confident” Congress would pass legislation to implement a global tax agreement in the United States enacting a minimum international tax on big corporations. The OECD-brokered deal, which sets a global tax of 15...

Read more