A congressional watchdog had repeatedly cautioned lawmakers about the nation’s spending and debt levels. Recently, Fitch Ratings, a major credit rating agency, downgraded the United States government’s credit rating from AAA to AA+. This decision was based on several factors, including the high national Debt, ongoing deficits, and a perceived “erosion of governance” in the … Read more
Despite a crucial White House meeting, President Biden and House Speaker McCarthy failed to raise the debt ceiling. However, they plan to continue discussions to prevent a historic default as the United States races toward the approaching deadline of failing to be able to meet its financial obligations.
Yellen’s speech took place Thursday at a Ford Motor Co. plant in Dearborn, Mich., where electric cars are manufactured. The economy is slowing down because the Federal Reserve is raising interest rates to fight the highest inflation in four decades.