Top Citi Strategist Foresees Healthy Economic Rebound
In order to restore sustainable growth and put inflation back to goal, the global economy does not require a "collapse," according to Steven Wieting, chief economist and investment strategist at Citi Global Wealth.
Jan 22, 2024 10:30 AM EST
Oil Forecast Dips as Global Growth Falters
Monday saw a further decline in oil prices as geopolitical worries in the Middle East and the attack on a Russian fuel export facility over the weekend were countered by economic headwinds that put pressure on the forecast for global oil consumption.
Will X Embrace Crypto? Dedicated Payments Account Fuels Rumors
Elon Musk's "everything app," X (previously Twitter), has stoked rumors in the cryptocurrency world regarding whether or not it will integrate cryptocurrencies by establishing a separate account for its planned payments function.
Biden Administration Announces Additional $4.9 Billion in Student Loan Debt for 73,600 Borrowers
Biden administration announces a groundbreaking $4.9 billion discharge in student loan debt, bringing the total relief to an impressive $136.6 billion. Read more below
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Regional Banks Struggle with Profit Slump Despite Economic Rebound
Reminding us how difficult 2023 was, some of the most well-known midsized lenders in the country announced significant declines in profitability during the fourth quarter. The issue is that by 2024, not much improvement is anticipated.
Jan 19, 2024 11:10 AM EST
Insights from Davos: US Business Figures Contemplate a Trump Win in 2024
Dinners and parties at Davos have been dominated by talk about Donald Trump, with many attendees of the World Economic Forum considering the former president's possible candidacy for president again following his overwhelming victory in the Iowa vote.
Jan 19, 2024 9:24 AM EST
Congress Votes to Extend Government Funding, Avoiding Shutdown
A short-term budget package that would keep federal agencies funded until March and prevent an impending partial government shutdown was delivered to President Joe Biden by Congress on Thursday.
Jan 19, 2024 7:10 AM EST
Biden Aims to End Debt Spiral with Drastic Overdraft Fee Cut
The Consumer Financial Protection Bureau and the Biden administration have collaborated to present a proposed regulation that would curb bank overdraft costs, perhaps bringing them down to $3.
Jan 18, 2024 6:20 AM EST
Record National Debt Raises Concerns, But Average Impact on Individuals May Be Nuance
The national debt of the United States government just passed $34 trillion, setting a new high. But to what extent should you be concerned about the nation's borrowing?
Jan 18, 2024 1:30 AM EST
Retail Rebound or Bubble Burst? December Surge Hides Underlying Inflation Concerns
December saw an increase in American retail spending, capping up the Christmas shopping season and the year on a positive note and indicating that consumers are still feeling secure enough to continue spending money.
Jan 18, 2024 12:19 AM EST
Senate Adopts Stopgap Spending Measure, Preventing Immediate Government Shutdown
In an attempt to enact a stopgap budget bill in time for the rapidly approaching deadline at the end of the week, the Senate cleared its first obstacle on Tuesday night.
Jan 17, 2024 10:49 AM EST
Bipartisan Bill Brings Joy to Toy Boxes and Boardrooms with Tax Tweaks
A bipartisan plan to prolong company tax deductions and increase the child tax credit was unveiled on Tuesday in an attempt to win approval from Congress before the January 29 tax season kicks out.
Jan 17, 2024 7:36 AM EST
AI & Climate Anxiety Rises: 6% More CEOs See Bleak 10-Year Outlook
According to a new survey of CEOs by one of the biggest consulting firms in the world, PwC, more executives are feeling better about the state of the global economy, but an increasing number believe their companies won't survive the next ten years without a major overhaul due to pressure from climate change and technology like artificial intelligence.
Jan 16, 2024 10:50 AM EST
Long-Term Food Supply Affected As Global Leaders Focus on Election 2024
International attempts to ensure long-term food supply might be derailed by the several impending international elections, warns the International Fund for Agricultural Development (IFAD).
Jan 16, 2024 9:40 AM EST
Goldman Sachs Expects Fed to Pivot, Slashing Rates to Boost Economy
According to Goldman Sachs economists' predictions on Monday, the Federal Reserve is anticipated to begin reducing its benchmark interest rate in March and to do so five times in total in 2024.
Jan 16, 2024 9:06 AM EST
US Dollar Shines Brighter as Stocks Dive, Safe Haven Frenzy Erupts
Tuesday saw a one-month low for Asian equities, a decline in U.S. stock futures, and an increase in the value of the dollar as traders awaited word from influential Fed member Christopher Waller and central bankers' hawkish comments dampened prospects for interest rate decreases.
Jan 16, 2024 5:59 AM EST
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