The recent hot U.S. inflation data has injected new energy into the ongoing debate at the Federal Reserve regarding a potential interest rate cut. Despite indications from rate futures markets suggesting that the first rate cut is likely to occur at the Fed’s September meeting, just weeks before Election Day, the decision seems to be
Economy
A recent press release by Chinese video games giant NetEase revealed a new partnership with Microsoft to bring back popular games, including “World of Warcraft,” to China. This collaboration marks a significant change in the gaming landscape of the world’s second-largest economy. The fallout between NetEase and Blizzard Entertainment, a subsidiary of U.S. gaming giant
President Joe Biden is making moves to rejuvenate the interest in a plan to establish the first high-speed rail system in the United States, using the technology of Japanese bullet trains. This initiative is reported to be among the topics of discussion when he meets with Japan’s Prime Minister Fumio Kishida in Washington this week.
President Joe Biden recently unveiled plans to provide relief to millions of Americans burdened with student debt. The proposed measures, announced in Madison, Wisconsin, aim to cancel up to $20,000 of interest for borrowers, benefitting at least 23 million individuals. This move comes as Biden seeks support from young voters in his bid for re-election
The recent meeting between U.S. Treasury Secretary Janet Yellen and Chinese Premier Li Qiang highlighted the significance of having tough conversations between the two economic superpowers. Yellen emphasized that these conversations have put the U.S. and China on a more stable footing over the past year. Li, in response, stressed the importance of respecting each
As the 2024 presidential race heats up, former President Donald Trump is facing a significant challenge in fundraising. His upcoming major fundraiser in Florida is crucial, as Trump’s coffers have been running low compared to his opponent, Democrat Joe Biden. With legal fees piling up and a need to replenish his campaign funds, Trump is
The recent comments made by U.S. Treasury Secretary Janet Yellen regarding China’s excess manufacturing capacity have sparked a strong reaction from Chinese state media. The state media has accused Yellen of perpetuating “China threat” rhetoric and using it as a pretext for advocating more protectionist policies by the U.S. This reaction reflects China’s sensitivity to
The U.S. labor market is set to slow down slightly in March, with fewer jobs being added compared to the previous month. However, wage gains are expected to remain high, indicating a strong economy at the end of the first quarter. This situation might delay potential interest rate cuts by the Federal Reserve in the
In a recent address on national television, Cuban President Miguel Diaz-Canel reassured the public that his government has taken significant steps to secure the supply of key subsidized food rations for the population of 11 million. Diaz-Canel emphasized the efforts made by the government to address widespread shortages and ensure better prospects for the months
In a shocking turn of events, British multibillionaire Joe Lewis is set to face sentencing in a U.S. court for illegally sharing stock tips obtained through his investments. Despite the potential for a prison sentence of up to two years as per federal guidelines, both prosecutors and his attorneys have advocated for leniency due to
The Federal Reserve officials, led by Jerome Powell, are engaging in extensive discussions over the necessity of cutting interest rates. Despite market expectations for a rate cut in June, Powell emphasized the importance of more deliberation and data before taking such a step. He highlighted that recent indicators related to job gains and inflation have
In a recent report, a government panel in Japan emphasized the importance of shifting the country’s economic policy focus away from crisis-mode stimulus towards achieving private sector-driven economic growth. This recommendation comes in response to the central bank’s decision to end eight years of negative interest rates. The panel highlighted the need for policy changes