President Trump has prioritised civil servant job protections since taking office. AFP News US President Joe Biden announced an average pay raise of 2% for federal civilian employees, effective January 1, 2025. Meanwhile, across-the-board pay is set to grow by 1.7% for all federal workers. The Biden Administration also announced locality-based average pay hikes of … Read more
US Federal Reserve Chairman Jerome Powell will on Friday address the Jackson Hole Symposium, a major economic conference, at 7:30 pm IST. All eyes are on any hints about how much additional interest rate cuts might be in the pipeline in the US. Jerome Powell’s Jackson Hole Speech: Timing & How to Watch The US … Read more
In a letter obtained by Axios, sixteen Nobel Prize-winning economists have warned that the re-election of Donald Trump could reignite inflation due to his “fiscally irresponsible budgets.” The economists expressed deep concerns about the potential risks to the US economy should Trump win the November election. The Nobel laureates emphasised that although their views on … Read more
Despite the downward inflation trend, JPMorgan CEO Jamie Dimon, 68, isn’t ruling out a “hard landing” for the US economy. On the prospects of a “hard landing,” Dimon said in a CNBC recent interview at the JPMorgan Global China Summit in Shanghai: “Could we actually see one? Of course, how could anyone who reads history … Read more
According to the latest Quarterly Report on Household Debt and Credit released yesterday by the Federal Reserve Bank of New York, total US household debt increased by $184 billion or 1.1% quarter-over-quarter in Q1 2024 to reach $17.69 trillion. While mortgage balances also jumped by $190 billion to $12.44 trillion, credit card balances declined in … Read more
A traffic signal in the foreground of the Bombay Stock Exchange’s on Dalal Street seems to reflect the mood of the stock markets in Mumbai. File photo | Photo Credit: The Hindu Benchmark equity indices Sensex and Nifty hit their all-time high levels on Thursday, December 14, 2023, tracking a global market rally after the … Read more
Image used for representational purpose. | Photo Credit: Reuters Foreign portfolio investors (FPIs) injected ₹26,505 crore into the Indian equity markets in the first six trading sessions of December on expectations of political stability after the BJP stormed to power in three major States and robust economic growth. This came following a net investment of … Read more
