A view shows a bronze seal beside a door at the U.S. Treasury building in Washington, U.S., January 20, 2023. Kevin Lamarque | ReutersThe U.S. government for the first time has spent more than $1 trillion this year on interest payments for its $35.3 trillion national debt, the Treasury Department reported...
Category: Economy
Two key inflation reports this week will help decide the size of the Fed’s interest rate cut
People shop at a store in Brooklyn on August 14, 2024 in New York City. Spencer Platt | Getty ImagesThe Federal Reserve gets its last look this week at inflation readings before it will determine the size of a widely expected interest rate cut soon.On Wednesday, the Labor Department's Bureau of...
Draghi urges radical European Union reform requiring extra 800 billion euros a year
Italian Prime Minister Mario Draghi during the press conference at the Multifunctional Hall of the Prime Minister on July 12, 2022 in Rome, Italy.Massimo Di Vita | Mondadori Portfolio | Getty ImagesThe European Union needs up to 800 billion euros ($884 billion) in additional investment per year to meet its...
Many ‘doubted the vision’: Saudi investment minister touts ‘green shoring’ on path to diversification
Khalid Al-Falih, Saudi Arabia's investment minister, during the Bloomberg New Economy Forum in Singapore, on Wednesday, Nov. 8, 2023. Bloomberg | Bloomberg | Getty ImagesSaudi Minister of Investment Khalid al-Falih pushed back against skepticism over the country's economic diversification plan, as Riyadh touts "green shoring" investment opportunities to woo foreign financing."There...
Job openings fell more than expected in July in another sign of labor market softening
Job openings slumped to their lowest level in 3½ years in July, the Labor Department reported Wednesday in another sign of slack in the labor market.The department's closely watched Job Openings and Labor Turnover Survey showed that available positions fell to 7.67 million on the month, off 237,000 from June's...