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The impasse in Washington over raising the roughly $31.4 trillion borrowing limit is looming over a series of meetings of the Group of Seven advanced democracies this month.
Consumer Debt Passes $17 Trillion for the First Time Despite Slide in Mortgage DemandMay 15, 2023 - 12:13:52 PDT
The total for borrowing across all categories hit $17.05 trillion, an increase of nearly $150 billion, or 0.9% during the January-to-March period.
Markets are on edge over whether budget talks will produce a solution to the US debt-ceiling crisis as the window for averting a potential default narrows by the day, and the amount of room the Treasury Department has under the statutory borrowing limit dwindles.
President Joe Biden's administration and Republicans in the U.S. Congress are in talks to end their standoff over raising the $31.4 trillion debt ceiling, haggling over vastly different proposals that both claim to cut deficits by trillions of dollars.
Two Federal Reserve officials signaled they favored pausing interest-rate increases, while a third policymaker said the central bank’s task in subduing inflation was not complete.
Once upon a time, the greed of tobacco companies was channeled through libertarian outrage over the restriction of smokers’ freedom to choose cancer. Today, the outrage is serving the inte
Price Inflation Growth Slowed Slightly in April. Now Wall Street Will Demand More Easy MoneyMay 15, 2023 - 11:52:40 PDT
The federal government’s Bureau of Labor Statistics (BLS) released new price inflation data Wednesday, and according to the report, price inflation during April decelerated slightly, coming in at the lowest year-over-year increase in twenty-four months.
The current known federal debt is $31.7 trillion according to the web site, US Debt Clock, which is about $94,726 for every man, woman, and child who are citizens as of April 24, 2023.
Biggest Fear Among US Business Leaders Is "Catastrophic" Debt Default: White House Economic AdviserMay 15, 2023 - 11:43:33 PDT
A key aide to President Joe Biden said Sunday that American business leaders’ chief concern is not inflation or recession but the looming threat of a “catastrophic” government debt default.
Soaring Rates Lead To Slowest Growth In Household Debt In Two Years As Mortgage Originations PlummetMay 15, 2023 - 11:42:36 PDT
Total household debt rose by $148 billion, or 0.9%, to $17.05 trillion in the first quarter of 2023, according to the latest Quarterly Report on Household Debt and Credit.
May 15, 2023 - 08:30:41 PDT
If you have been following the banking crisis, you have likely read at least a dozen times that on March 12 federal banking regulators, with the consent of the U.S. Treasury Secretary Janet Yellen, invoked the “systemic risk exception” in order to protect both insured and uninsured depositors at the two banks that failed in March – Silicon Valley Bank and Signature Bank.
JPMorgan Chase, BofA, Wells Fargo and Citi Accounted for 43 Percent of That.
May 15, 2023 - 08:26:51 PDT
The number of people collecting disability is soaring rapidly. McCarthy wants to do something about that. Liberals object.
Last week, President Biden reiterated his willingness to negotiate over the budget but not the debt ceiling. It's a lie.
May 15, 2023 - 08:24:44 PDT
The weaponization of the US dollar by US agencies continues with a ruling by the FDIC.
Despite Fed Tightening and Bank Collapses, It’s Still an Astoundingly Loose Financial Situation in La-La-LandMay 15, 2023 - 08:23:35 PDT
After years of money printing and pandemic stimulus, it’s hard to wring all this liquidity out of the financial system?
Despite Fed Tightening and Bank Collapses, It’s Still an Astoundingly Loose Financial Situation in La-La-LandMay 15, 2023 - 08:22:52 PDT
After years of money printing and pandemic stimulus, it’s hard to wring all this liquidity out of the financial system?
Fast QT, Fewer Rate Hikes? Bank of Canada Has Shed Nearly Half of Pandemic QE Assets. And QT Continues Despite “Pause” in Ra...May 15, 2023 - 08:22:18 PDT
It unwound 46% of all assets it had added during the pandemic. Far more aggressive QT than the Fed’s.
May 15, 2023 - 08:10:58 PDT
The Empire State (crime plagued New York) manufacturing survey general business conditions crashed in May to -31.8.
Inflatiion Joe Biden (or Unaffordable Joe). Bidenflation has led to The Federal Reserve tightening interest rates. As I said on Stuart Varney’s show years ago, “When The Fed starts raising rates, KABOOM!”