Biden strikes ‘tentative’ U.S. debt ceiling deal: Report

The United States president Joe Biden and Republican Kevin McCarthy have reportedly reached a “tentative” agreement to raise the federal government’s $31.4 trillion debt ceiling. According to a May 28 report from Reuters citing “two sources familiar with the negiotations,” the preliminary agreement was entered into after a 90-minute phone call between Biden and McCarthy on May [...]

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Republicans Seek to Repeal Biden’s Inflation Reduction Act in Exchange for Raising US Debt Limit

There has been a lot of commentary concerning the U.S. raising its debt limit, as Treasury secretary Janet Yellen said last month that a U.S. default would be “devastating,” and European Central Bank president Christine Lagarde warned it would be a “major disaster” if the U.S. defaulted on its obligations. It now appears that Republican [...]

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Congress May Restrict Stock Trading In The Next Session

The 118th Congress may prevent members from investing in stocks or cryptocurrency. 77 politicians violated disclosure obligations after the 2012 STOCK Act. Many see a conflict of interest in elected officials trading and holding assets. In 2022, Congress and Fed officials breached crypto trading and holding restrictions. These infractions included delayed reporting of legal transactions, yet members were allowed to influence legislation with their investments. Last year's crypto issues included U.S. legislators and business executives' financial relationships. (Read More)

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230 Economists Warn the US Government’s Proposed Inflation Reduction Act Will Fuel Inflation

Last week, Democrats unveiled climate and health care legislation called the “Inflation Reduction Act,” and there’s a lot of debate over the name of the proposed public policy measures. After the legislation was revealed, 230 economists sent a letter to the country’s House and Senate leaders warning that the proposed policies will actually fuel inflation. More

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