The U.S. overspent $1.833 trillion for the 2024 fiscal year, the highest since the pandemic, due to rising costs in interest payments, Social Security, healthcare, and military spending.
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Fed Chair Nominee Kevin Warsh Says Central Bank Will Remain 'Strictly Independent'
President Donald Trump's nominee to be the next chair of the Federal Reserve, Kevin Warsh, said in his confirmation hearing Tuesday that the central bank will remain "strictly independent" and rejected he will be the president's "sock puppet."
Colombia Gives in to US Deportation Flights to Avoid $53.5B Trade War
Colombian President Petro blocked US deportation flights, prompting Trump's tariff threats, but after escalating tensions, Colombia agreed to accept the flights, avoiding a trade war.
Economists Predict Trump's 'Maganomics' Could Lead to Slow US Growth and Increased Inflation
Trump's "MAGAnomics" protectionist policies, including tariffs and immigration restrictions, could harm global growth, economists warn.
US Government Shutdown Looms as Trump, Musk Oppose Funding Bill Over Spending Concerns
Trump and Musk oppose a GOP funding bill, increasing the risk of a government shutdown while pushing for streamlined legislation without excess spending.
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Kamala Harris's new policies include providing forgivable loans, access to marijuana and cryptocurrency industries, and launching a national health initiative.
US East and Gulf Coast ports have reopened after dockworkers secured a 62% wage increase, but clearing a backlog of ships will take two to three weeks.
US East and Gulf Coast port workers plan to strike at Tuesday, potentially halting half of the nation's shipping and costing the US economy $5 billion daily due to a standoff over pay.
In August, the CPI rose 0.2%, keeping inflation at 2.5%, its lowest since 2021, while traders anticipate an interest rate cut from the Federal Reserve.
Donald Trump's company suffered a 15% share decline following last night's presidential debate, just after betting odds for Kamala Harris increased.
A win for Kamala Harris and the Democrats would boost US economic growth and job opportunities for Americans, while a Trump victory could lead to reduced economic output due to higher tariffs and stricter policies, according to Goldman Sachs.
This Labor Day 2024, banks and government offices will be closed but most major retailers and restaurants will remain open with varying hours, and other sectors will open for a limited time.
The US economy grew at a 3.0% annualized rate in Q2 2024, driven by strong consumer spending and a rebound in corporate profits, reflecting continued economic growth.
US President Joe Biden announced that he was standing down from the country’s presidential election this November, endorsing Vice President Kamala Harris on his stead.
