Reacting to economists' warnings US economy is heading into a recession, President Biden says "it's not inevitable," underlining America is in "stronger position" than any other country in the world.
After a quarter-point increase in March, the US central bank's policy-setting committee pushed the rate above 0.75 percent and said more increases "will be appropriate."
A strong smell of natural gas permeated the area after the snow-covered roadway collapsed, but there were no fatalities or life-threatening injuries, US authorities say.
US central bank's latest policy statement comes as stock market investors were gripped by fear and uncertainty over just how fast and far the Fed will go to reverse its low-rate policies.
President Biden acknowledges the pandemic has left Americans exhausted and demoralised but insists at a news conference marking his first year in office that he has "outperformed" expectations.
The US Congress had earlier approved the short-term funding measure by a 254-175 vote not long after Senate passage in a 65-35 vote.
The package will create millions of jobs, putting the country in a position to win the global competition with China in the upcoming years, US President Joe Biden says.
US President Joe Biden is signing two executive orders that will increase food aid, protect job seekers on unemployment and clear a path for federal workers and contractors to get a $15 hourly minimum wage.
Trump forgoes earlier demand of increasing stimulus cheques for struggling Americans to $2,000 from $600. The turnabout came after calls from all sides of the political spectrum for action to avert an economic and social disaster.
Researchers in Germany and France have reached a sobering calculation that US closures saved lives – at a high cost to economy.
Between making the rich wealthier, or spending more than the government can afford, the two presidential candidates have presented starkly opposing economic plans. They are only similar in recognizing the US is more in debt than ever before.
The positive test reading for the leader of the world’s largest economy adds more uncertainty to investors' worries. US stock futures and Asian shares fell in the wake of the news. Future contracts for S&P 500 and Dow industrials lost 1.9 percent.
Subscribe to our Youtube channel for all latest in-depth, on the ground reporting from around the world.
Copyright © 2022 TRT World.