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“President Biden and House Speaker McCarthy near deal on U.S. debt ceiling negotiations”

by Chief editor of world-today-news.com May 25, 2023
written by Chief editor of world-today-news.com

Negotiations between President Biden and House Speaker McCarthy over raising the U.S. debt ceiling are nearing a deal, with a difference of just $70 billion between the two on “discretionary spending,” excluding social security and other items. This was confirmed by multiple sources. (2023 REUTERS/Craig Hudson)

[ワシントン 25日 ロイター] – Negotiations between President Biden and House Speaker McCarthy over raising the U.S. debt ceiling are nearing an agreement, with the difference in views between the two on “discretionary spending” excluding social security and other items amounting to just $70 billion. It was confirmed by multiple sources.

The sources said they expected the deal to be a simple document with a few key figures, rather than a lengthy bill of hundreds of pages. Overall figures for discretionary spending will be hammered out, and sectors such as housing and education will be left to lawmakers to work out the details over the next few months through the normal budgeting process, he said.

Discretionary spending will reach $1.7 trillion in 2022, according to federal statistics. It accounted for 27% of total spending ($6.27 trillion), about half of which was for defense. Some lawmakers have argued that defense spending should not be cut.

The White House declined to comment.

2023-05-25 16:55:00
#U.S #debt #ceiling #talks #billion #discrepancies #discretionary #spending #close #deal #sources

May 25, 2023 0 comments
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World

IMF Urges Central Banks to Keep Monetary Policy Tight Amid Inflation Risks

by Chief editor of world-today-news.com May 17, 2023
written by Chief editor of world-today-news.com

International Monetary Fund (IMF) chief deputy managing director Gita Gopinath on Monday urged central banks to keep monetary policy tight, saying there was a high risk of inflation remaining high or accelerating in many emerging markets. FILE PHOTO: April 14, 2023. REUTERS/Elizabeth Frantz

[ワシントン 17日 ロイター] – International Monetary Fund (IMF) chief deputy managing director Gita Gopinath on Monday urged central banks to keep monetary policy tight, saying there was a high risk of inflation remaining high or accelerating in many emerging markets.

Markets were probably “overly optimistic” about what it would take to bring down inflation in emerging markets, he said at a meeting hosted by the Brazilian central bank. “While there are encouraging signs, we feel that price pressures are entrenched in many economies and we are concerned about the high risk of higher inflation,” it said.

“The central bank must decisively continue to tighten monetary policy, recognizing that if current monetary tightening is insufficient, more painful measures may be required in the future.” I have to,” he said. It’s a lesson learned from the high inflation period of the 1970s and is “extremely applicable today,” he said.

Fiscal containment underpins the central bank’s fight against inflation, and judicious use of fiscal measures can improve trade-offs in the event of significant financial stress.

#Inflation #upside #risk #high #market #optimistic #IMF #official
2023-05-17 13:35:00

May 17, 2023 0 comments
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Business

“US Congressional Budget Office warns of looming default risk in June due to debt ceiling”

by Chief editor of world-today-news.com May 12, 2023
written by Chief editor of world-today-news.com

The US Congressional Budget Office (CBO) warned on Wednesday that it faces a “significant risk” of default as early as early June if the federal debt ceiling is not raised. FILE PHOTO: April 6, 2023. REUTERS/Elizabeth Frantz

[ワシントン 12日 ロイター] – The US Congressional Budget Office (CBO) warned on Thursday that it faces a “significant risk” of default as early as early June if the federal debt ceiling is not raised.

The estimate closely coincides with the June 1 deadline that Treasury Secretary Yellen said could default, underscoring the urgency of resolving the bitter rivalry between Democrats and Republicans over raising the cap. are doing.

On the other hand, if the cash on hand and special measures are sufficient to meet the June 15 tax deadline, it will “probably” be able to cover the government’s payment obligations through at least the end of July, potentially extending the deadline for negotiations. I thought there was also a sexuality. “Even if the Treasury Department eventually runs out of money in early June, we won’t know until May how much the government will be able to fund ongoing operations,” it said.

Talks between President Biden and congressional leaders, including Republican House Speaker McCarthy, on the debt ceiling, scheduled for Wednesday, were postponed to early next week. “There hasn’t been enough progress at the top to renegotiate,” McCarthy said.

2023-05-12 15:36:00
#U.S #faces #significant #risk #default #early #June #Congressional #Budget #Office

May 12, 2023 0 comments
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Business

“IMF Warns of Global Economic Consequences if US Fails to Raise Debt Ceiling”

by Chief editor of world-today-news.com May 11, 2023
written by Chief editor of world-today-news.com

The International Monetary Fund (IMF) said on the 11th that if the United States fails to raise the federal debt ceiling and defaults, it will be “very serious” not only for the U.S. economy but also for the global economy, such as rising borrowing costs. influence,” he said. Photographed in September 2018 (2023 REUTERS/Yuri Gripas)

[ワシントン 11日 ロイター] – The International Monetary Fund (IMF) said on the 11th that if the United States fails to raise the federal debt ceiling and defaults, it will be “extremely serious” not only for the U.S. economy but also for the global economy, such as rising borrowing costs. “It will have a significant impact,” he said.

IMF spokeswoman Julie Kossack said it was not possible to immediately quantify the impact of a US default on global growth.

U.S. officials should also be alert to new vulnerabilities in U.S. banks, including regional banks, that could emerge as interest rates rise, he said.

2023-05-11 18:41:00
#U.S #default #impact #global #economy #IMF

May 11, 2023 0 comments
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World

Director of National Intelligence warns of Chinese opportunism in event of US debt default

by Chief editor of world-today-news.com May 4, 2023
written by Chief editor of world-today-news.com

Director of National Intelligence Haynes, the top US intelligence agency, said that if the US were to default on its debts, China would be expected to use it as an opportunity. FILE PHOTO: Washington, D.C., April 4, 2023. REUTERS/Kevin Lamarque

[ワシントン 4日 ロイター] – Director of National Intelligence Haynes, the top US intelligence agency, said on the 4th that China is expected to take advantage of a golden opportunity if the US defaults on its debts.

Haynes told the Senate Armed Services Committee that China and Russia would use the U.S. debt default as an opportunity to play out a scenario in which U.S. democracy is not working. “Our analysts would agree that they are almost certainly going to try to use it as an opportunity,” he said.

#China #advantage #U.S #debt #default #U.S #intelligence #chief
2023-05-04 14:09:00

May 4, 2023 0 comments
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World

German Foreign Minister Beerbock calls China a “systemic rival” in report on his visit to the country

by Chief editor of world-today-news.com April 19, 2023
written by Chief editor of world-today-news.com

Germany’s Foreign Minister Beerbock told the Bundestag on Wednesday that China was becoming a “systemic rival” rather than a trading partner or competitor, in a report on his visit to China last week. It was more than a shock,” he said. FILE PHOTO: German Foreign Minister Beerbock speaks during a press conference in Beijing, April 14, 2023. REUTERS/Suo Takekuma/Pool via REUTERS

[ベルリン 19日 ロイター] – German Foreign Minister Beerbock told the Bundestag on Wednesday that China was becoming a “systemic rival” rather than a trading partner or competitor, in a report on his visit to China last week. He said he was “beyond the shock”.

During his visit to China, Foreign Minister Beerbock said that “the dispute must be resolved peacefully” and warned that China was watching tensions in the Taiwan Strait with grave concern. He also said China was becoming aggressive externally and repressive domestically.

“There was more than a shock,” Foreign Minister Beerbock told parliament without giving details. For Germany, China is a partner country or a competitor country, but currently, “I got the impression that the aspect of a systemic rival is increasing,” he said, adding, “China is Germany’s largest trading partner, but this is “This does not necessarily mean that China is Germany’s most important trading partner.”

He said China has a responsibility to strive for world peace, and said it was important to use its influence against Russia, which is invading Ukraine. While he welcomed China’s pledge not to supply weapons to Russia, he said Germany would monitor whether those pledges would be honored.

April 19, 2023 0 comments
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