Examining potential outcomes: How will the US debt limit standoff conclude?
The US is facing a looming debt limit deadline, and both President Biden and House Speaker McCarthy are unwilling to give ground ahead of talks scheduled yesterday.
US trade deficit reaches third consecutive month
It is reported that the United States trade deficit has grown for the third consecutive month, reaching $70.5 billion.
Number of Job Openings Drops Below 10 Million
For the first time in nearly two years, the number of available job positions fell by 632,000 compared to the previous month.
The Biden Administration scrambles to shield the economy after multiple bank crashes
The dismantlement of Silicon Valley Bank within 48 hours by regulators has the federal government rushing to stifle the bleeding of a resilient - but vulnerable - economy.
Incoming recession likely to come later in 2023 than expected
A large swatch of the country’s economists are anticipating a recession in the United States, but the date that comes to fruition is to be a little later than initially expected.
Bad news bears for The Fed: inflation is rising as fast as it did last summer
At the fastest pace since June 2022, the Federal Reserve’s preferred inflation gauge is skyrocketing.
Superstore giant Walmart has said customers will feel the inflation
Walmart has signaled that customers will likely slow their purchasing, even after strong holiday sales and profit last quarter.
Wall Street is concerned over the dim retail forecast
Large retailers such as Home Depot and Walmart are projecting a weaker economy this year due to declining consumer spending.
The United States’ debt is set to skyrocket to $19 trillion over the decade
According to the Congressional Budget Office, the increasing cost of interest rates, retiree benefits, and military spending are expected to send the country’s debt to the moon by 2033.