A recent federal appeals court decision has further extended an injunction blocking President Joe Biden’s administration from implementing a student debt relief plan aimed at easing the burden for millions of borrowers. The ruling, issued by the 8th U.S. Circuit Court of Appeals, came in response to a request from seven Republican-led states. The decision
Economy
On a recent campaign stop in Nevada, U.S. Vice President Kamala Harris expressed her support for eliminating taxes on tips, echoing a similar stance taken by her opponent, former President Donald Trump. This move is strategic, as it aims to win over service workers, a crucial constituency in the state. Harris emphasized her commitment to
The recent announcement from the State Department regarding the provision of $3.5 billion in military aid to Israel is causing a stir in the international community. This funding is intended for the purchase of U.S. weapons and military equipment, highlighting the deep-rooted relationship between the two countries when it comes to defense and security matters.
The recent statements by U.S. Vice President Kamala Harris regarding the independence of the Federal Reserve have sparked discussions about the role of politics in central bank decisions. Harris made it clear that if she were to become president, she would not interfere in the Fed’s decision-making process. This stands in stark contrast to former
Federal Reserve Governor Michelle Bowman recently acknowledged the progress made on inflation in the last few months. This comes as a welcome development, despite inflation levels remaining higher than the central bank’s 2% target. Bowman emphasized the need for a cautious approach to monetary policy, highlighting the upside risks to inflation that still persist. Bowman
Indian automaker Mahindra & Mahindra’s proposed joint venture with China’s Shaanxi Automobile Group to set up a $3 billion car manufacturing plant in India raises serious concerns. Given the current geopolitical tensions between India and China, this partnership seems risky and potentially damaging to India’s national interests. The lack of transparency surrounding this joint venture
As the holiday season approaches and concerns loom over potential strikes at U.S. ports, retailers are ramping up their imports at an unprecedented rate. Container imports and freight rates saw a significant surge in July, marking an earlier peak season for the ocean shipping industry. With about 80% of global trade relying on ocean shipping,
Donald Trump has expressed a keen interest in exerting influence over the Federal Reserve if he is elected president again. He believes that the president should have a say in the Fed’s decisions, which would mark a significant departure from the institution’s long-standing independence. Trump’s remarks indicate that he is aligned with proposals to involve
As the dollar retreats from a one-week high against major currencies, traders are navigating through a turbulent period marked by fluctuations in response to economic indicators. The recent drop in U.S. jobless claims and concerns about a potential economic downturn have contributed to the uncertainty in the market. Following firmer-than-expected employment data, there has been
The Reserve Bank of India (RBI) decided to keep its key interest rate steady at 6.50% in its recent policy meeting, a move that was widely anticipated. The decision was made in an effort to combat inflation, despite other major central banks around the world considering easing their monetary policies. The Monetary Policy Committee (MPC),
In the world of financial markets, the recent burst of volatility has taken many traders by surprise. There is an inherent irony in the fact that trades which are only feasible and highly profitable in a low volatility environment are suddenly exposed when volatility spikes. FX “carry trades” and the “basis” trade in U.S. Treasuries
The Bank of Japan’s deputy governor, Shinichi Uchida, emphasized the importance of stability in financial markets when considering interest rate hikes during a speech in Hakodate, Japan. Uchida’s remarks contrasted with the more hawkish comments made by Governor Kazuo Ueda the previous week when the BOJ unexpectedly raised interest rates. The recent sharp volatility in