The Federal Reserve on Tuesday announced that it was setting up a special entity to purchase short-term debt issued by corporations to help keep afloat companies facing a credit crunch because of the coronavirus pandemic.
The S&P 500 rose 6% on Tuesday, a day after its steepest decline since the 1987 crash, as the Federal Reserve took further steps to boost liquidity and stem damage from the coronavirus outbreak that has gripped the global economy.
At the close of business Friday, the Dow Jones Industrial Average was up 1,985 points to 23,186, nearly recouping Thursday’s more than 2,300-point loss. The S&P 500 gained 228 to 2,709 and the Nasdaq Composite was up by 672 points to 7,874.
With much of China’s economy still idled as authorities try to contain an epidemic that has infected more than 75,000 people, millions of companies across the country are in a race against the clock to stay afloat.
U.S. household debt set a new record in the final quarter of 2019, the Federal Reserve Bank of New York said in a report (pdf) on Tuesday, climbing to a historic peak of $14.1 trillion.
President Donald Trump’s $4.8 trillion budget proposal presented to Congress today boosts funds for the military and veterans and implements mandatory reforms for all agencies in an attempt to cut the deficit by $4.6 trillion over the next decade.
The latest Congressional Budget Office (CBO) report projects that the federal debt will grow to 98 percent of GDP by 2030, with the economy expanding at an average annual rate of 1.7 percent from 2021 to 2030.
The federal debt increased by a record $10,796,419,662,320 in the decade that is coming to a close today, according to data published by the U.S. Treasury.
The Israel Electric Corporation said Wednesday it was continuing power cuts to several Palestinian cities in Judea and Samaria to press for payment of the $519 million owed by a Palestinian electricity company.
The U.S. government deficit rose by 12 percent in the first two months of the 2020 fiscal year, hitting $342 billion, according to new estimates from the Congressional Budget Office.
US corporations are sitting on nearly $10 trillion in debt. That’s equivalent to roughly 47% of the overall economy, which is a record, according to date first cited by the Washington Post.
The federal debt has increased by $1,303,466.578.471.45 since last Thanksgiving, according to data released by the U.S. Treasury.
The federal government’s outstanding public debt has surpassed $23 trillion for the first time in history, according to data from the Treasury Department released on Friday.
Washington is drowning in red ink again, yet the mounting fiscal problem is prompting collective yawns from the Trump Administration and Democrats alike.
The federal debt increased by $1,203,343,570,253.55 in fiscal 2019, according to data released by the U.S. Treasury Department.
The federal deficit rose to $984 billion in fiscal year 2019, the Congressional Budget Office estimated on Monday, an increase of $205 billion.
Federal agencies have shelled out tens of millions of dollars on cars, movie cameras, and other items in a contract spending spree that happens across government at the end of every fiscal year.
Israel’s national electric company said Sunday it has begun reducing power supplies to Palestinian areas of the West Bank due to a financial dispute.
Heart for Lebanon helps these new believers become disciple-makers. “We have around 600 people in our Bible studies each month [and] we’re running about 300 in our worship services each week, plus Sunday schools,” Atema says.
Residential mortgage debt in the U.S. reached a new high in the three months through June, topping a previous record during the height of the financial crisis.