Explore

Reuters Reuters
Global bond markets put governments on notice over fiscal, inflation risks

Global bond markets put governments on notice over fiscal, inflation risks

By Dhara Ranasinghe, Gregor Stuart Hunter and Samuel Indyk LONDON, Aug 18 (Reuters) - Long-term borrowing costs from the U.S. to Germany and Japan hit their highest levels in decades on Tuesday due to ballooning government debt and geopolitics, raising borrowing costs for companies and households
Rapid Read Rapid Read
Senator Mark Warner Raises Concerns Over AI's Impact on Youth Employment and Calls for Regulatory Frameworks

Senator Mark Warner Raises Concerns Over AI's Impact on Youth Employment and Calls for Regulatory Frameworks

Senator Mark Warner has voiced significant concerns regarding the potential impact of artificial intelligence (AI) on the U.S. job market, particularly for young people entering the workforce. He warned that unemployment among recent graduates could escalate to as high as 25% within the next two to three years. Warner emphasized the necessity of establishing regulatory frameworks, or 'guardrails,' to manage the effects of AI on employment, drawing a parallel to the lack of regulation during the expansion of social media. This concern aligns with broader warnings from figures like Geoffrey Hinton, known as the 'Godfather of AI,' who predicts mass unemployment due to AI replacing human labor. Hinton suggests that the trillions of dollars invested in AI by tech companies are primarily aimed at developing technology that can perform tasks more cheaply than human workers, driven by a pursuit of short-term profit over scientific advancement. Senator Bernie Sanders has also highlighted the risk, stating that near...
Reuters Reuters
One neutral rate estimate suggests Fed's policy stance is accommodative, paper says

One neutral rate estimate suggests Fed's policy stance is accommodative, paper says

Aug 17 (Reuters) - The Federal Reserve's current policy rate is probably accommodative, if measured against a medium-run estimate of the so-called neutral rate at which borrowing costs are neither slowing nor boosting the economy, according to research published on Monday by the San Francisco Fed. 
Trendline Trendline
Bank of America CEO Brian Moynihan Monitors U.S. Consumer Spending Amid Rising Inflation and Gas Prices

Bank of America CEO Brian Moynihan Monitors U.S. Consumer Spending Amid Rising Inflation and Gas Prices

Bank of America CEO Brian Moynihan Monitors U.S. Consumer Spending Amid Rising Inflation and Gas Prices
USA Today USA Today
Trump votes by mail again in Florida Republican primary

Trump votes by mail again in Florida Republican primary

President Trump voted by mail in Florida's Republican primary, even as he rails on the method as an "inherently corrupt" system of voting.
Trendline Trendline
Goldman Sachs Warns of Impending U.S. Consumer Spending Slowdown as Tax Refund Boost Fades

Goldman Sachs Warns of Impending U.S. Consumer Spending Slowdown as Tax Refund Boost Fades

Goldman Sachs Warns of Impending U.S. Consumer Spending Slowdown as Tax Refund Boost Fades
Reuters Reuters
Stocks, dollar fall after weak data; yields rise

Stocks, dollar fall after weak data; yields rise

By Karen Brettell NEW YORK, Aug 17 (Reuters) - U.S. stocks ended down on Monday and the dollar hit a two-month low against the euro as soft U.S. economic data, including an unexpected drop in retail sales, prompted markets to scale back bets on an imminent Federal Reserve interest rate move.
Reuters Reuters
US yields rise amid Iran worries, broader selloff

US yields rise amid Iran worries, broader selloff

WASHINGTON, Aug 18 (Reuters) - U.S. yields headed higher for a third straight session on Tuesday, as anxiety over the U.S.-Iran conflict and inflation converged with a global bond selloff that saw long-term borrowing costs edge toward their highest levels in decades.
Reuters Reuters
Bond markets from US to Japan whacked as inflation and fiscal worries take hold

Bond markets from US to Japan whacked as inflation and fiscal worries take hold

By Dhara Ranasinghe, Gregor Stuart Hunter and Samuel Indyk LONDON, Aug 18 (Reuters) - Long-term borrowing costs from the United States to Japan and Germany hit their highest levels in decades on Tuesday, as renewed inflation worries added to nagging concerns about the fiscal pressures facing some of
Rapid Read Rapid Read
Senators Wyden and Merkley Reintroduce 'Audit the Pentagon Act' to Enforce Financial Accountability

Senators Wyden and Merkley Reintroduce 'Audit the Pentagon Act' to Enforce Financial Accountability

U.S. Senators Ron Wyden and Jeff Merkley, alongside other Senate colleagues, have reintroduced legislation known as the 'Audit the Pentagon Act.' This bill aims to impose financial penalties on the Department of Defense (DoD) if it fails to pass a full, independent audit. Specifically, any Pentagon department that does not achieve a clean audit would face a 2% withholding of its budget, with the funds being returned to the U.S. Treasury for deficit reduction. Senator Wyden emphasized that taxpayers should not continue to provide 'blank checks' to a department that consistently fails to account for trillions of dollars in assets. He highlighted that the Pentagon is the only major federal agency unable to pass a clean financial audit, a requirement under federal law since the early 1990s and annually since 2018. Senator Merkley added that the routine failure of audits without consequences enables fraud, waste, and abuse, and that Americans deserve transparency in how their tax dollars are spent. The Trump ad...
Trendline Trendline
San Francisco Fed Research Suggests Current Policy is Accommodative, Contrasting Policymaker Views

San Francisco Fed Research Suggests Current Policy is Accommodative, Contrasting Policymaker Views

San Francisco Fed Research Suggests Current Policy is Accommodative, Contrasting Policymaker Views
Rapid Read Rapid Read
Senator Bernie Sanders Introduces Bill to Halt Social Security Garnishment for Student Debt

Senator Bernie Sanders Introduces Bill to Halt Social Security Garnishment for Student Debt

Senator Bernie Sanders (I-Vt.) has introduced the Stop Social Security Garnishment Act, a legislative proposal aimed at preventing the federal government from seizing Social Security payments from older Americans and individuals with disabilities who have defaulted on their student loans. The bill, co-sponsored by Senators Elizabeth Warren (D-Mass.) and Ed Markey (D-Mass.), seeks to bar the Treasury Department from using Social Security payments, including Social Security Disability Insurance, for federal student debt collection. Senator Sanders stated that the legislation is a response to an increasing number of seniors facing garnishment due to education cuts implemented under President Trump's 'One Big Beautiful Bill Act.' He emphasized that no senior in the wealthiest country should have their Social Security payments taken away, especially given rising costs for healthcare, prescription drugs, groceries, and housing. The bill comes as over 9 million Americans are in default on federal student loans, w...