Author: generate

Bronze seal next to the door of the U.S. Treasury Building in Washington, U.S., January 20, 2023. Kevin Lamarque | ReutersThe U.S. Treasury Department reported on Thursday that the U.S. government’s interest payments on its $35.3 trillion Treasury debt exceeded $1 trillion for the first time this year.As the Federal Reserve maintains its benchmark interest rate at the highest level in 23 years, the government has allocated US$1.049 trillion in debt service funds, a 30% increase from the same period last year and part of the US$1.158 trillion expected full-year repayment.Excluding interest earned on government investments, net interest payments totaled…

Federal Reserve Chairman Powell speaks at a press conference after the two-day Federal Open Market Committee interest rate policy meeting in Washington, the United States, on July 31, 2024. Kevin Mohart | ReutersFederal Reserve officials moved closer to their low-inflation goal when they met on Tuesday, but the extent to which they will ease interest rates remains an open question.Inflation data for the week showed price pressures have eased sharply since a meteoric rise in 2021-22. A measure of consumer prices showed 12-month inflation at its lowest level since February 2021, while a measure of wholesale prices showed pipeline price…

If Robert Kaplan still had a say in the matter, he would push for a half-percentage point rate cut at this week’s Fed meeting.The former Dallas Fed president told CNBC on Tuesday that a bold move of 50 basis points would put policymakers in a better position heading into the second half of the year and dealing with future economic challenges.”If I were sitting at the table, I would advocate for 50 people at this meeting,” Kaplan said in an interview with “Squawk Box.” “I think the Fed meeting would probably be a little later, if I were to do…

Employees at the counter of restaurant, bakery, Manolo, Miami Beach, Florida. (Photo by Jeffrey Greenberg/Universal Images Group via Getty Images)Jeff Greenberg | Universal Image Group | Getty ImagesLatinos contribute significantly to the U.S. economy.The Latina female population contributed $1.3 trillion to gross domestic product (GDP) in 2021, up from $661 billion in 2010, according to a new report sponsored by Bank of America.This marks a real GDP growth rate of 51.1% between 2010 and 2021, which means the economic contribution is 2.7 times that of the non-Hispanic population.Citing data from the Bureau of Economic Analysis, the report noted that the…

Bridgewater Associates founder Ray Dalio speaks onstage at The Wall Street Journal’s 2024 Future of Everything Festival at Spring Studios on May 22, 2024 in New York CityDia Deepasupil | Getty Images Entertainment | Getty ImagesSINGAPORE – US billionaire Ray Dalio has listed five major forces at the front and center of the world economy. The founder of Bridgewater Associates said in a speech at the Milken Institute Asia Summit in Singapore that these five factors are interrelated and often cyclical. Dalio made the remarks Wednesday ahead of the Federal Reserve’s rate decision.1. Debt, Currency and Economic CyclesDalio expressed concerns…

Aerospace Machinists District 751 President Jon Holden (offscreen) announces union members reject the proposed Boeing contract and will go on strike following the results of a union hall vote on September 12, 2024 in Seattle, Washington. react. Jason Redmond | AFP | Getty Imagesboeing company workers go on strike The unrest on Friday was the latest in a disastrous year for the U.S. plane maker.But it’s unclear whether the shutdown will have an impact on the flying public, although there are concerns air travel could be affected next summer.U.S. airlines that rely heavily on Boeing aircraft include Southwest Airlines, united…

Union members hold picket signs during a press conference following the count of the union contract vote at the main union hall of IAM District 751, Thursday, September 12, 2024, in Seattle, Washington, USA. M. Scott Brower | Bloomberg | Getty Imagesboeing company Finance Chief Brian West said the strike, which began after midnight on Friday, would hurt aircraft deliveries and “jeopardize” the company’s recovery, hours after factory workers overwhelmingly rejected a new labor contract and went on strike.West said the financial impact of the strike would depend on how long it lasted, but it would affect production of the…

Workers hold picket signs outside a Boeing Co. manufacturing plant during a strike on Friday, Sept. 13, 2024, in Everett, Washington, U.S. M. Scott Brower | Bloomberg | Getty Imagesboeing companyThe company’s factory workers went on strike after midnight on Friday, halting production of the company’s best-selling aircraft after employees overwhelmingly rejected a new labor contract.It’s a costly development for the manufacturer, which has been struggling to boost production and restore its reputation following the safety crisis.Workers in the Seattle area and Oregon voted 94.6% against a tentative agreement announced Sunday between Boeing Co. and the International Association of Machinists…

d3sign | Moment | Getty ImagesIf you want or need to travel this holiday season, start planning now because the ideal time to book travel for Thanksgiving, Christmas, and New Year’s is just around the corner. “The bottom line is that travelers continue to think about planning now and booking in October,” said Hayley Berg, chief economist at travel website Hopper. “The window for low prices, while short-lived, does help. Brings rewards.”More from Personal Finance:Americans’ demand for international travel drives ‘travel momentum’Relocating retirees looking to lower cost of livingHomeowners may be ‘overconfident in their retirement readiness’But travelers who miss this…

Workers hold picket signs outside a Boeing Co. manufacturing plant during a strike on Friday, Sept. 13, 2024, in Everett, Washington, U.S. M. Scott Brower | Bloomberg | Getty Imagesboeing company Sweeping cost cuts were announced on Monday, including a hiring freeze, a pause on non-essential employee travel and reductions in supplier spending to preserve cash in response to a strike by more than 30,000 factory workers.Workers at Boeing plants, mostly in the Seattle area, went on strike early Friday after they overwhelmingly rejected a temporary labor deal that halted production of most of Boeing’s planes.Chief Financial Officer Brian West…