The debate about raising the federal government’s debt ceiling has – and will continue to be – centered on the expenditure side of the fiscal ledger. But a report on Tuesday from the Congressional Budget Office sheds considerable light on impact of the Republican plans for federal revenues – and it’s not a pretty picture. […]
The debate about raising the federal government’s debt ceiling has – and will continue to be – centered on the expenditure side of the fiscal ledger. But a report on Tuesday from the Congressional Budget Office sheds considerable light on impact of the Republican plans for federal revenues – and it’s not a pretty picture. […]
The Fed raised interest rates Wednesday by 0.25%, its tenth consecutive increase, but signaled that it might pause as it awaits further signs as to the direction that the economy might take. The Fed’s rapid pace of hiking interest rates is the fastest tightening cycle that the central bank has undertaken in modern history. That […]
The hostilities between the Walt Disney Company and Florida Governor Ron DeSantis burst into a thermonuclear war on Wednesday when the company filed a lawsuit against the state amid the state’s efforts to limit the company’s control over its vast Orlando complex. Public and private sector entities have tussled before, but it’s impossible to recall […]
The magical April 15 tax filing deadline just passed for hundreds of millions of Americans, just as significant changes in staffing and funding at the Internal Revenue Service began to take effect. That’s good news for Americans conforming to tax laws and bad news for those trying to cut corners on their payments to Washington. […]
Notwithstanding nine rounds of interest rate increases, and amidst continued expectations for a recession later this year, the American economy continues to move forward, adding jobs even as inflation remains stubbornly high. But that persistent economic strength has also brought with it some surprisingly positive attributes. Wednesday’s inflation data was generally in line with expectations. […]
As expected, the Federal Reserve raised interest rates by 0.25% on Wednesday, the latest in a string of increases that has brought the benchmark rate from near zero a year ago to the current range of 4.75% to 5%. But following a string of crosscutting economic and financial developments, the path to today’s decision was […]
The Consumer Price Index for February came in a bit stronger than economists had expected, but recent bank failures have complicated the Federal Reserve’s job and raised questions about what the central bank’s policy committee will do when it meets next week. In February, prices rose by 6% compared to a year earlier, but with […]
President Biden unveiled his 2024 budget on Thursday and while the plan has no chance of being enacted by a divided Congress, it provides a useful point of comparison to Republican ideas that have been mooted in recent weeks. (While the Republicans have yet to release a formal budget proposal, the Republican Study Committee, which […]
China has been hinting at sending military aid to Russia and President Biden has been responding by threatening “serious sanctions” if China did so. But, realistically, it’s not clear what we would – or could – do to punish China, given how intertwined our two economies are. China’s rise as our largest trading partner has […]
