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Senate passes bill to raise debt ceiling, preventing first-ever U.S. default
The Senate late Thursday passed a House-approved bill to raise the debt ceiling and cap government spending for two years, sending the legislation to President Joe Biden’s desk . He is expected to sign it Friday and address the nation at 7 p.m. ET, just three days before the U.S. risked its first-ever sovereign debt default. “No one gets everything they want in a negotiation, but make no mistake: This bipartisan agreement is a big win for our economy and the American people,” Biden said in a statement after the vote. Stock futures rose slightly Thursday night as the U.S. averted potential economic chaos. The ... (full story)
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video In this two-part series, former Fed chairman Dr. Ben Bernanke, who is now a senior advisor at PIMCO, and Dr. Richard Clarida, a former Fed vice chairman who now is PIMCO’s ...
post at 3:38am: ECB’s Vasle: Core Inflation Remains High And Persistent post at 3:41am: ECB’s Vasle: Further ECB Hikes Needed To Reach Goal Of 2% post at 3:46am: ECB'S VASLE: MONETARY POLICY IS NOT ENOUGH, OTHER POLICIES NEED TO HELP.
A more optimistic tone, at least for now. • Eurostoxx +0.6%. • Germany DAX +0.6%. • France CAC 40 +0.6%. • UK FTSE +0.5%. • Spain IBEX +0.6%. This comes after the rather rough ...
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Nancy Whiteman grew Wana Brands using a bold national strategy and sold it for a fortune—just before pot stocks crashed. Whiteman, 64, who cofounded the Boulder-based cannabis ...
post at 5:45am: - ECB's Makhluof: Have Not Reached The Moment Where We Can Say Let's Now Stop - Picture A Lot Less Clear Beyond Probably Rate Increases In June And July - RTE post at 5:57am: ECB’S MAKHLOUF: WE ARE LIKELY TO SEE ANOTHER 25 BPS RATE INCREASE.Central Bank Governor warns of impact of Budget measures on inflation The Governor of the Central Bank has warned that the Government needs to think very carefully about what affect policy proposals could have on inflation as it begins to frame October's budget. Gabriel Makhlouf said if Government policy choices fuel demand at a time when the European Central Bank is trying to slow it down, it just means that monetary policy is going to have to work harder. "So I think the decisions that are made on the budget, apart from the usual concern about debt sustainability, about not relying on surprise corporation tax increases to fund regular recurring spending, I think it's also very important to think very carefully about what's happening to inflation, what the various budget proposals will do to aggregate demand
Watching the monthly jobs reports this year has been something of a waiting exercise, with economists and market participants looking for a downturn that never seems to arrive. ...