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The tentative U.S. deal to avoid a crushing debt default is at best a mild relief for the U.S. economy that nearly stalled in the first half of the year and has yet to show signs of any realistic pickup. The plan for $2.4 trillion in spending cuts ...
The two calamity-avoiding debt ceiling measures under consideration in Congress have something in common. House Speaker John Boehner says his bill has $1.2 trillion in discretionary spending cuts over ten years. Senate Majority Leader Harry Reid ...
The U.S. government can avoid a default for at least a month after the Aug. 2 deadline to lift the debt ceiling set by the Treasury Department, said John Silvia, chief economist at Wells Fargo Securities LLC. “The Federal Reserve and the Treasury ...
Efforts to avoid an unprecedented U.S. default enter crunch time on Friday, with President Barack Obama and top lawmakers engaged in a sometimes chaotic drive to strike a sweeping deficit-reduction deal. With the clock ticking toward an August 2 ...
The euro strengthened against the dollar and Swiss franc on speculation European officials are nearing agreement on measures designed to halt contagion from the region’s debt crisis. The 17-nation currency also rose versus the yen as Italian bonds ...
President Barack Obama “abruptly” walked out of today’s White House meeting with legislative leaders on the federal deficit, House Majority Leader Eric Cantor told reporters. Cantor said he told Obama “we are far apart” on proposals to cut the ...
Will the ECB surprise the markets on Thursday? The European Central Bank (ECB) will decide its next monetary move on Thursday 7 July at 11:45 GMT. This time around the market is pricing in the second interest rate hike following the financial crisis ...
The Australian dollar ended two days of declines against the U.S. currency before a government report tomorrow that economists said will show the nation added the most jobs in three months. New Zealand’s currency rose from near a one-week low as ...
Negotiators will need to reach agreement on raising the U.S. debt limit no later than July 22 so that legislation can get passed in time to stave off a default on U.S. debt, two Democratic officials familiar with the talks said. The Senate yesterday ...
What will it take to fix a European Union troubled by heavy debts and internal friction? The story of the U.S., which celebrates its 235th year of independence on July 4, offers a parable that Europe’s leaders might find instructive. In the late ...