US defence
US President Joe Biden's administration has requested $752.9bn from Congress for national defence spending, of which $715bn should go to the Pentagon. This was stated in a DOD statement released on Friday.
The DOD stressed that the budge...
US inflation
Recent surveys have shown that Americans are bracing for the highest inflation rate since 2013, according to the New York Fed. Rising prices could slow the pace of the US economic recovery.
Concerns about rising inflation in the US int...
Tax rate increase
President Joe Biden is preparing to propose next week an increase in the basic tax rate for millionaires, raising it from 20% to 39.6% to fund a new government programme, the American Family Plan, which cou...
Economic recovery
Record high retail sales in March and sharply lower jobless claims in the USA show strong positive momentum from mass vaccination in the country, reduced quarantine restrictions and government incentives with direct ...
Digital dollar
Jerome Powell thinks a digital dollar launch is possible, but a decision has not yet been made.
The Federal Reserve (Fed), which serves as the country's central bank, is studying the possibility of launc...
March Fed minutes
The published March Fed minutes showed an increase in the outlook for the US economy on the back of mass vaccination and federal aid. At the same time, the central bank said that policy will only be changed after the results have b...
Modernising US infrastructure
President Joe Biden is ready to make concessions to political opposition in the US Congress on his ambitious plan to modernise the nation's infrastructure in terms of its funding....
Fed keeps interest rates on hold
The Fed meeting ended on Wednesday with the expected announcements. The stock market reacted by rising, with the US dollar declining against a basket of major currencies.
The Fed's March two-day meeting ended Wednes...
US inflation
The US Labor Department said on Wednesday that consumer prices in February rose at the fastest rate in six months. Economists forecast core inflation to reach 2.5 per cent in the spring, but said the increa...
Hoping for the best
As City Councilman Mark Treyger pointed out, for the residents and businesses of Brooklyn's Coney Island neighborhood, which he represents, last year was very challenging. He said: "The epidemic and its aftermath led to the local...
New report
The Labor Ministry's report of 379,000 new jobs added outside agriculture beat economists' forecast of 182,000. This is more than double the number added in January. Stock indices rose.
Major US stock indices rose before the opening of t...
COVID-19 bailout bill
The US House of Representatives has passed a $1.9 trillion pandemic aid bill put forward by Joe Biden's team. The bill is expected to be approved in the Senate thanks to 50 votes from Democrats. In ...
U.S. unemployment
The number of jobless claims in the USA fell sharply last week to a three-month low. Retail sales data, lower COVID-19 cases and vaccination also added to the optimism. However, winter s...
U.S. government bonds
US ten-year government bond yields exceeded 1.37% p.a., reaching their highest level in a year. This was driven by investor fears of an acceleration in the pace of consumer price increases on the back of stronger economic activ...
Department of Labor mistake
New Yorkers are facing a problem because of mistakes by the state Department of Labor in paying unemployment benefits. Some recipients had been paid far more than they&nbs...
Oil rises in value
Oil prices are rising steadily amid rising tensions in the Middle East. The Saudi-led coalition at the weekend announced it had intercepted an explosives-laden drone launched by the Husis towards Abha airport in south-western Saud...
Scottish exports
Scotch whisky exports fell 23% to 3.8bn pounds in 2020, the lowest in 10 years, due to the coronavirus pandemic and US duties.
According to the Scotch Whisky Association, the value of exports to the US, the largest intern...
Free help from the government
President Joe Biden has signed an executive order that seeks to overhaul legal immigration to the US that is dependent on social security.
Biden's order&...
Silver prices hit a record high since 2013. This is another manifestation of the retail madness that has been going on for the past week.
The news site Reddit, which allows you to post any information you like, posted messages urging private investo...
U.S. GDP
The US gross domestic product fell by 3.5% last year, the worst since World War II. The US Department of Commerce's Bureau of Economic Analysis said in a report.
The report said the economy experienced a significant drop for the ...
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