Small Business Index Soars to Highest Level Since Reagan, Middle-Class Income Sets New Record
Several new reports are providing the latest proof that the US economy is booming right now.
Economy
House passes cyber deterrence bill that would name and shame foreign hackers
The House of Representatives has passed legislation directing the president to essentially name and shame foreign hackers accused of participating in state-sponsored cyberattacks against the United States government and the nation’s most vital computer networks.
U.S. sanctions ‘will cripple the economy’ of Iran, say economists
The slated US sanctions targeting Iran’s energy and financial sectors in early November will pulverize the Islamic Republic’s struggling economy, according to a new analysis released last week by economists.
US economy’s growth rate boosted to 4.2 percent
The U.S. economy grew 4.2 percent in the three months through June, slightly faster than initially reported and the most in four years.
US and Mexico close to reaching NAFTA deal, sources say
The United States and Mexico look close to resolving key differences on the North American Free Trade Agreement and may have a complete deal worked out by as early as Monday, according to sources close to the talks.
Mexico unsure if it will finish NAFTA talks with U.S. in August
Mexico’s economy minister on Wednesday said that Mexico and the United States may not meet an August goal to finish bilateral talks to revamp the NAFTA trade deal, which is beset by disagreements over automobile trade rules and other issues.
With the Return of US Sanctions, EU Enacts Statute Aimed at Keeping European Companies in Iran
In a bid to sustain trade and economic relations with Iran, the European Union is looking to its so-called ‘blocking statute’ that will forbid European companies from complying with enacted U.S. sanctions.
Holding It Steady: Fed Leaves Rates Unchanged Amid Positive Growth Talk
It’s steady as she goes for the Fed this time around, as many investors had pretty much baked in. After a June hike of the benchmark federal-funds rate to a range between 1.75% and 2%, the Fed concluded this week’s meeting Wednesday by standing pat and keeping rates right there.
Second-quarter GDP jumps 4.1% for best pace in nearly four years
Gross domestic product grew at a solid 4.1 percent pace in the second quarter, its best pace since 2014, boosting hopes that the economy is ready to break out of its decade-long slumber.
Trump Touts ‘Big Day for Free and Fair Trade’ With E.U. Commissioner
President Donald Trump and European Commission President Jean-Claude Juncker spoke at the White House Wednesday to say they are negotiating a deal to end most tariffs, trade barriers, and industrial subsidies between Europe and the United States.
Farm groups praise $12 billion aid package, urge pullback on trade fights
Key agricultural trade associations praised the Trump administration Tuesday for providing $12 billion to support farmers hurt by an ongoing trade war, but urged the administration to dial back that fight.
Venezuela’s Inflation to Reach 1 Million Percent, IMF Forecasts
Venezuela’s inflation will skyrocket to 1 million percent by the end of the year as the government continues to print money to cover a growing budget hole, the International Monetary Fund predicted on Monday.
Powell backs more rate hikes as economy growing ‘considerably stronger’
The U.S. economy is running at a fast enough pace to justify continued interest rate increases, Federal Reserve Chairman Jerome Powell said Tuesday.
The $247 trillion global debt bomb is ticking
The untold story of the world economy is the potentially explosive interaction between the spreading trade war and the overhang of global debt, estimated at a staggering $247 trillion. That’s ‘trillion’ with a ‘t.’ The numbers are so large as to be almost incomprehensible.
Iranians protest over plunging economy as Rouhani warns of ‘economic war’ with US
Protesters in Iran entered their third day of demonstrations over the country’s faltering economy as President Hassan Rouhani claimed it faces “economic war” with the US.
CBO: US Debt Burden Set to Break Record in Early 2030s
Debt as a share of the United States economy is on track to blow through the previous World War II-era record within two decades and keep rising from there, the Congressional Budget Office said in its annual long-term budget report.
Trump’s Iran strategy targets oil, presses allies to end oil imports by Nov. 4
Following through on President Trump’s promise to squeeze Iran as he took the U.S. out of the 2015 nuclear deal, the Trump administration on Tuesday announced details on new sanctions that will pressure countries from Europe to Asia to slash imports of Iranian oil to zero by Nov. 4, giving allies no wiggle room to deal with Tehran.
Massive Protests Break Out In Tehran
A new wave of civil unrest erupts in Iran as citizens demand improvements in the economy.
Trump’s tariffs receive bipartisan criticism at Senate hearing
Senators of both parties blasted Commerce Secretary Wilbur Ross over President Trump’s steel and aluminum tariffs Wednesday, saying the levies are harming the U.S. economy while doing nothing to stop China’s unfair trade practices.
Energized Turkish opposition puts Erdogan in real danger of losing power
A prolonged state of emergency after a failed coup attempt and a constitutional referendum that delivered Turkey’s president sweeping new powers should deliver strongman President Recep Tayyip Erdogan an easy win in Turkey’s June 24 snap elections, a vote moved up from November 2019.