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Top 'Trump Trade' Isn't The Dollar But Gold As Survey Participants Foresee 'Severe Disruptions To Markets And Trade'
Sunday, July 28, 2024 - 10:30pm | 618Gold has emerged as the top choice for investors looking to hedge their portfolios in the event of a potential second term for Donald Trump. What Happened: The precious metal has been identified as the best hedge against a possible Trump presidency, according to a Bloomberg Markets Live Pulse...
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US Economy Cools Down, Europe Heats Up: International Monetary Fund Flags Sticky Inflation, Worrisome National Debt
Tuesday, July 16, 2024 - 1:05pm | 724The International Monetary Fund (IMF) revised its projected economic growth for the U.S. in 2024, lowering it to 2.6%. What Happened: The revision is 0.1 percentage points below the agency’s April projection. The IMF cited a slower-than-expected start to the year and an anticipated cooling...
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Powell Praises Latest Inflation Progress, Hints At Imminent Rate Cuts, Warns He's 'Very Worried' About Unsustainable National Debt
Monday, July 15, 2024 - 2:04pm | 731Federal Reserve Chairman Jerome Powell said Monday the last three inflation reports have bolstered the Fed’s confidence that inflation is moving toward the 2% target, which is the key condition for policymakers to initiate interest rate cuts. “We’re back to a place where inflation...
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Stocks Hold Steady As Powell Reassures On Disinflation Path, Warns About Debt Risks; Tesla Rallies, Job Openings Spike: What's Driving Markets Tuesday?
Tuesday, July 2, 2024 - 1:41pm | 811U.S. equities were little moved on Tuesday as investors continued to assess the potential for interest rate cuts following the latest economic data and comments from Fed Chair Jerome Powell. Speaking at the European Central Bank (ECB) forum in Portugal, Powell welcomed recent progress on...
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Fed Chair Powell Warns Of 'Unsustainable' US Debt Path, Downplays Risks Of Possible Trump Attacks On Central Bank Independence
Tuesday, July 2, 2024 - 11:52am | 1055At the ECB Forum on Central Banking, Federal Reserve Chair Jerome Powell emphasized a careful approach Tuesday to potential interest rate cuts and stressed the critical issue of the United States’ unsustainable debt path. Speaking on a panel with ECB President Christine Lagarde and Central...
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Trump Added Nearly Two Times More To The National Debt Than Biden While In Office: New Report
Monday, June 24, 2024 - 12:46pm | 515A new report outlines how President Joe Biden added $4.3 trillion to the national debt with seven months left in his term while his opponent, Ex-President Donald Trump, added $8.4 trillion to the U.S. national debt during his time in office. The Data: The non-partisan Committee for a Responsible...
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US Budget Crunch: CBO Warns Federal Interest Costs Now Higher Than Defense Spending, Deficits To Remain Above 5.5% Until 2034
Wednesday, June 19, 2024 - 12:44pm | 924The Congressional Budget Office (CBO) is once again sounding the alarm on the rising federal deficit, highlighting a growing financial strain for the U.S. government. Escalating interest costs are set to outpace defense spending for the first time. This trend is expected to keep budget deficits at...
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Janet Yellen Says US Debt Levels Are 'Reasonable,' But Warns About Interest Burden
Thursday, June 13, 2024 - 10:26am | 477Treasury Secretary Janet Yellen affirms that the current U.S. debt load is manageable, provided it remains at its current level relative to the economy. What Happened: On Thursday, Yellen stated in a CNBC interview that the burgeoning national debt is manageable as long as it stays around where it...
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Jamie Dimon Sounds Alarm On Ballooning US Fiscal Deficit: 'It Will Cause A Problem'
Wednesday, May 15, 2024 - 4:27pm | 645Jamie Dimon, CEO of JP Morgan Chase & Co. (NYSE:JPM), raised concerns about the perilous state of the U.S. fiscal deficit, which has swelled to a staggering $1.9 trillion in 2024. This deficit, amounting to over 6% of the nation's GDP, shows no signs of diminishing in the coming years. “...
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Elon Musk Compares Working Of Federal Reserve To Rules Of Board Game Monopoly: 'The Bank Never Goes Bankrupt'
Sunday, May 12, 2024 - 11:52pm | 595Elon Musk has drawn an intriguing comparison between the Federal Reserve and the rules of Hasbro‘s (NASDAQ:HAS) game Monopoly, suggesting that the Federal Reserve operates in a similar manner to the game’s bankruptcy rules. What Happened: On Sunday, Musk took to social media platform X...
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Joe Manchin Expresses Disappointment In Congress' Inaction Over Nation's Rising $35 Trillion Debt: 'It's A Shame ... No One Cares About It'
Sunday, May 12, 2024 - 1:24pm | 426The initiative for a bipartisan commission to address the United States' escalating $34.6 trillion debt appears to be stalling in Congress. What Happened The bipartisan commission, an idea advocated by Speaker of the House Mike Johnson since his inauguration, has encountered resistance from...
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US Pays $2M Interest Per Minute On National Debt: 'Funny, Peculiar Chicken-And-The-Egg Type Situation'
Tuesday, May 7, 2024 - 5:04am | 727The United States government is currently paying an unprecedented $2 million per minute in interest on its national debt, a figure that is expected to continue rising. This development has sparked a debate on Wall Street about the impact of higher interest rates on the economy. What Happened: The U...
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Elon Musk Issues Stark Warning Amid Rising National Debt: '...The Dollar Will Be Worth Nothing'
Friday, May 3, 2024 - 9:32pm | 577Tesla and SpaceX CEO Elon Musk has expressed growing concern about the future of the U.S. dollar, citing the escalating national debt as a potential catalyst for an impending economic crisis. What Happened: On Friday, Musk was replying to a user on X, formerly Twitter, when he voiced his...
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Is The US National Debt Unsustainable? 'We Can't Have A Deficit Of 7% Of The GDP'
Friday, April 19, 2024 - 11:41am | 700International Monetary Fund (IMF) deputy chief Gita Gopinath raised concerns about the United States’ burgeoning public debt, emphasizing the urgency of reducing the federal deficit from its current 7% of GDP. “The U.S. is running [a] very large deficit for a country with a strong...
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Elon Musk Has A Fix For Ticking US Debt Bomb... But It Has A 'Slight Chance Of Killing Us'
Friday, April 12, 2024 - 12:13pm | 672The U.S. has accumulated a huge pile of debt, and this has raised an alarm among economists and the American public alike. Tesla CEO Elon Musk on Friday suggested a quick fix for the problem. What Happened: A X platform user shared the U.S. debt clock, which showed a staggering $34.65 trillion in...