A US debt default would be “potentially catastrophic,” according to Jamie Dimon, CEO of JPMorgan Chase, on Thursday. President Joe Biden and Republican leaders have until June 1, 2023, to increase the $31 trillion debt
On May 13, 2023, financial experts from the Group of Seven (G-7) wealthy countries issued a warning about escalating economic uncertainty. They concluded a three-day gathering overshadowed by the impasse over the United States’ debt
The Washington standoff over raising the U.S. government’s $31.4 trillion borrowing limit is adding to global economic worries, as a new non-partisan congressional report cited “significant risk” of a historic default within the first two
For more than a year, central banks have aggressively tightened monetary policy in an effort to tame sky-high inflation. However, the job market has remained obstinately tight. After the pandemic, supply chain bottlenecks gave way
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