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Debt ceiling deal to prevent default faces first big test in key House committee

The debt ceiling deal brokered by President Joe Biden and House Speaker Kevin McCarthy faces its first major test Tuesday, just days before a potential default.

By |2023-05-30T18:21:02-05:00May 30th, 2023|Economy|0 Comments

The deflating credit bubble could hurt more than just the banks

Another week, another wave of worry about American regional banks. Thankfully, the level of panic has dropped somewhat since the Federal Deposit Insurance Corporation appears to be backstopping the system — by precedent, if not by law. But the problem now is one of attrition: weakling banks are losing deposits, watching funding costs rise while their loans to commercial real estate and risky companies turn sour.

By |2023-05-14T16:51:30-05:00May 14th, 2023|Economy|0 Comments

GDP Increase 1.1% in 1st Quarter

Real gross domestic product increased at an annual rate of 1.1 percent in the first quarter of 2023, according to the “advance” estimate. In the fourth quarter of 2022, real GDP increased 2.6 percent. The increase in the first quarter primarily reflected an increase in consumer spending that was partly offset by a decrease in inventory investment.

By |2023-04-30T18:10:21-05:00April 30th, 2023|Economy|0 Comments

Biden EPA to issue power plant rules that lean on carbon capture

The U.S. government may soon require natural gas-fired power plants to install technology to capture carbon emissions, sources said, as President Joe Biden's administration enacts new rules to help decarbonize the power sector in 12 years.

By |2023-04-23T14:45:57-05:00April 23rd, 2023|Economy|0 Comments

As Walmart shuts down four stores in crime-ridden Dem-led Chicago, DailyMail.com lists all the big box shops – from Macy’s to Target – which have closed due to millions in losses from rampant theft

Major retailers in the US have been forced to shut down stores due to millions of dollars in losses as rampant theft plagues big box stores across the country.

By |2023-04-16T18:23:09-05:00April 16th, 2023|Economy|0 Comments
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