Mayor Adams presents Fiscal Year 2024 preliminary budget
The mayor took questions after presenting his budget proposal.
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They can't wait to get back on the road again.
- Fortune
Trump’s ex-economy boss says a recession is ‘off the table’ for the first half of 2023—and people going back to the office is a big reason why
“Think about people going back into the office,” said Gary Cohn on Sunday. “They need people to work in the buildings.”
- Insider Monkey
25 Least Developed Countries in Asia
In this article, we take a look at the 25 least developed countries in Asia. You can skip our detailed analysis of uneven economic development in Asia and go directly to the 10 Least Developed Countries in Asia. Asia is one of the fastest developing regions in the world, and is widely regarded as the […]
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Russia's oil and gas revenue crashed by nearly 50% at the start of 2023, leading to a wider budget deficit as Moscow's spending soars
Russia's deficit widened to nearly $25 billion as lower energy revenue met with a surge in spending amid Putin's war on Ukraine.
- Motley Fool
This Recession Indicator Has Been Foolproof for 70 Years: Here's What It Says Happens Next
When the curtain closed on 2022, the iconic Dow Jones Industrial Average (DJINDICES: ^DJI), benchmark S&P 500 (SNPINDEX: ^GSPC), and technology-dependent Nasdaq Composite (NASDAQINDEX: ^IXIC) all entered respective bear markets and produced their worst returns since 2008. The abysmal performance of these core stock indexes has a lot of investors asking whether a U.S. recession is unavoidable. Unfortunately, there is no crystal ball that allows us to look into the future and know with concrete certainty whether a recession is coming.
- The Fiscal Times
Republicans Plot Their Debt Ceiling Showdown Strategy
Republicans are threatening to use the need to raise the nation’s $31.4 trillion debt limit as leverage in negotiations over the federal budget, with the goal of reducing spending in Washington. Thus far, however, they have not been able to say exactly what it is they want to cut. Former House Speaker Newt Gingrich says Republicans are planning their strategy now. “They’re in the middle of a conversation that is very healthy — lots of members have lots of ideas, and they’re in the process of sor
- GOBankingRates
These Jobs May Be Most at Risk of Layoffs in 2023 — Should You Find a New Gig Now?
Last week's job report was a huge boost to the American economy, with 517,000 new jobs added (much more than the 187,000 projected by analysts) and unemployment at a 54-year low of just 3.4%. But,...
- Detroit Free Press
Gov. Whitmer proposal: A $180 check for each Michigan tax filer
The proposal, detailed Monday by Whitmer and Democratic leaders in the House and Senate, would distribute some of Michigan's record budget surplus.
- Motley Fool
Social Security's 2024 COLA Could Easily Be Zero. Here's How
After a massive increase to benefits in 2023, reversals in consumer prices could leave seniors without a raise next year.
- Fox Business
US economy could see 'second chapter' in pandemic price surge
Another inflation spike could take hold in the U.S. economy as a result of China reopening its economy from COVID-19 lockdowns, according to one analyst.
- The Hill
Sununu: Biden going to ‘try to take credit’ for jobs, economy during State of the Union
New Hampshire Gov. Chris Sununu, a moderate Republican, said that President Biden would try to take credit for the economy ahead of his State of the Union speech next week but argued such achievements of the administration were not impressive. Sununu, who is considering a White House bid of his own, argued on ABC’s “This…
- Motley Fool
Absolutely Nobody Can Agree on What's Happening With the Economy Right Now
We might need an addendum to the old adage that there are decades in which nothing happens and weeks in which decades happen. Apparently, there are...
- Bloomberg
McCarthy Urges Negotiations on Debt Limit With No ‘Lines in Sand’
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‘The world’s largest Ponzi scheme’: Peter Schiff just blasted the US debt ceiling drama. Here are 3 assets he trusts amid major market uncertainty
The government is in a doom spiral of spending and borrowing
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More than 88,000 tech-sector employees have lost their jobs since the start of 2023
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- The Hill
Bank of America’s Moynihan says firm is preparing for US debt default
Bank of America CEO Brian Moynihan on Monday said the firm is preparing for the U.S. to default on its debt after surpassing its borrowing limit last month. Lawmakers are locked in talks about whether to lift the debt ceiling, with Republicans insisting on spending cuts before a deal to raise the limit is struck,…
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I Have to Pay My Debt, So Why Doesn’t the US Government? The Truth Is Even More Complicated Than You Think
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- Reuters
China reopening is wild card for Canada sticking economic soft landing, analysts say
China's rapid reopening is likely to fuel demand for commodities produced in abundance by Canada, potentially helping Canada's economy avoid a recession as long as it does not also force up inflation and spur further interest-rate hikes. The Bank of Canada last month hiked its key interest rate to 4.5%, the highest level in 15 years, and said the economy will stall in the first half of the year and could tip into recession. But analysts say a rebounding Chinese economy will likely fuel demand for Canada's major exports, including oil, natural gas, grain, cereals and other goods, making a much-desired soft landing for the economy more likely than previously thought.
- Fortune
There’s a ton of good news about the economy but Americans are feeling more gloomy than ever
The economy is flashing some of its most positive economic signals in months, and Americans are still historically pessimistic.
- GOBankingRates
California Stimulus: If You Lost or Threw Out Your Middle Class Tax Refund, You Can Have It Replaced
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