Yellen Sounds Alarm on Default in New Warning to McCarthy on Debt Ceiling Deadlock
Janet Yellen issued renewed warning to McCarthy and congress reiterating that country could run out of money to pay its debt obligations as early as June 1.
Debt ceiling deadlock centers on 2024 spending levels
White House and House Republican negotiators are at stalemate over capping spending levels in the 2024 budget. Deadlock resulted in pause in debt ceiling talks.
Recession Odds Rise to Highest in 40 Years: Fed
Odds that U.S. will fall into a recession over the next 12 months have risen to a 40-year high, according to a probability model from the NY Federal Reserve.
Yellen Warns ‘Constitutional Crisis’ Could Come Next Month
Janet Yellen will not rule out possibility of declaring debt ceiling unconstitutional if Congress can't resolve standoff, but “no good options” on the table.
PacWest Shares Fall More Than 55 Percent in After-Hours Trading as It Seeks Rescue
PacWest Bancorp shares fell more than 55 percent in after-hours trading following news that company executives were considering a potential sale.
Hawley Blasts Biden Interior Secretary For Claims of ‘Too Many’ American Jobs, Selling Out...
Sen Josh Hawley questioned Sec Deb Haaland about prioritizing Biden Admin’s radical climate agenda over retaining blue-collar jobs and American energy security.
JPMorgan Buys First Republic, After Regulators Seize Beleaguered Bank
First Republic Bank has been seized by the Federal Deposit Insurance Corp. (FDIC), which announced that the beleaguered bank is being bought by JPMorgan Chase.
Chart of the Day: GOP Debt Ceiling Strategy – Skilled Negotiations or a Giveaway?
Federal debt ceiling was raised in December of 2021 by $2.5 trillion to $31.381 trillion, which is expected to last until January 19, 2023, according to Yellen.
IRS Pays $23 Billion Less in Tax Refunds for 2023 Filing Season, Worrying Americans
The Internal Revenue Service (IRS) is paying $23 billion less in tax refunds for the 2023 filing season—with the average refund amount found to be lower by nearly $300.
‘We’re Going to See a Lot of Bankruptcies’: Former CEO
Bob Nardelli, the former CEO of Home Depot, is warning about more bankruptcies hitting the U.S. economy, and blames lawmakers for their delay in...
This $6 trillion problem threatens to push inflation even higher
Following 2008 financial crisis, Fed created trillions of dollars to keep banks afloat while Bernanke paid banks to park money at Fed and limit inflationary effects.
IRS Report Fails to Provide Key Details, Republican Lawmakers Say
House Ways and Means Committee Chairman Jason Smith criticized IRS for failing to provide essential information in its much-anticipated report released April 6.
