Washington Financial News

Subscribe to enjoy similar stories. 2024 has revealed starkly the insufficiency of 20th century economics to solve problems of runaway climate change, inequitable growth, and the rise of authoritarian governments. Economics became the imperial science for driving public policy in the 20th century.

The economic and technological rivalry between the U.S. and China has come to the drone market, where Chinese-made flying devices are a dominant player in America

Donald Trump is suggesting that his new administration could try to regain control of the Panama Canal

Subscribe to enjoy similar stories. In the continuing chip war between Washington and Beijing, the U.S. has the clear upper hand on the most cutting-edge technology.

United States and Pakistan have escalated recently following revelations that Pakistan is developing long-range nuclear missiles capable of reaching major US locations. This includes efforts to build intercontinental ballistic missiles (ICBMs), a move that has raised alarms in Washington. US Deputy National Security Advisor Jon Finer disclosed that Pakistan had falsely presented its space programme as a cover for its missile development, a strategy that was eventually uncovered by the US. In response, Washington imposed strict sanctions on companies linked to Pakistan's missile programme.

US government has just narrowly avoided a shutdown — and the speculation, confusion and concern around tech titan Elon Musk’s power in Washington is rampant. So rampant that President-elect Donald Trump’s incoming press secretary was forced to clarify. “As soon as President Trump released his official stance on the CR, Republicans on Capitol Hill echoed his point of view,” Karoline Leavitt explained about the plan to keep the government funded, known as a continuing resolution.“President Trump is the leader of the Republican Party. Full stop.” This was not entirely convincing. It was not convincing because Musk, who gave Trump’s reelection effort a quarter of a billion dollars, has emerged as an unexpected, unelected and uncontrollable political powerhouse. He derailed the bipartisan plan to keep the government open and put Speaker of the House Mike Johnson’s job in jeopardy by posting to his 200 million followers on X, the platform he owns.

For small businesses, the biggest change for the new year will be the arrival of a presumably more business-friendly administration in Washington

The Federal Reserve lowered its interest rate target three times in 2024.

Subscribe to enjoy similar stories. WASHINGTON—There was much to celebrate when House Speaker Mike Johnson walked into Mar-a-Lago to meet with President-elect Donald Trump just after the November election. But there was also pressing business, including a deadline to reach a government-spending deal.

White House said, while the State Department approved the potential sale to the island of $265 million worth of military equipment. The United States is bound by law to provide Chinese-claimed Taiwan with the means to defend itself despite the lack of formal diplomatic ties between Washington and Taipei, to the constant anger of Beijing. Democratically governed Taiwan rejects China's claims of sovereignty.

Subscribe to enjoy similar stories. Europe and the U.S. are trying to navigate an awkward choice in Syria: work with Islamists long designated as terrorists in the West or risk ceding influence to the countries that will.

The proposal is much narrower than the government's push to make Google sell its Chrome browser, which Google called a drastic attempt to intervene in the search market. Google urged U.S. District Judge Amit Mehta in Washington to move cautiously in deciding what the company must do to restore competition, after his ruling that the company holds an illegal monopoly in online search and related advertising. Courts have cautioned against imposing antitrust remedies that chill innovation, Google said in court papers.

Approaching a midnight deadline, the Senate is preparing to give final approval to a new plan to prevent a government shutdown

An inflation gauge that is closely watched by the Federal Reserve barely rose last month in a sign that price pressures cooled after two months of sharp gains

The Biden administration says it is canceling federal student loans for another 55,000 public service workers through an existing forgiveness program

Elon Musk running the US government? Tesla CEO's growing influence on the Republican Party and the Trump administration has become a topic of discussion among Democrats, some of whom now sarcastically refer to the SpaceX CEO as “President Musk.” As the threat of US government shutdown looms, Musk, one of the closest allies and a big supporter of President-elect Donald Trump, interjected himself into the process. The moniker 'President Musk' started trending on X, formerly known as Twitter, after the spending fight on Capitol Hill took an unexpected turn as the billionaire entrepreneur played a pivotal role in derailing a bipartisan funding bill, raising questions about his growing influence in Washington. Musk’s barrage of posts on X calling for lawmakers to «kill the bill» has led many to wonder whether he, not Donald Trump, is setting the Republican agenda. ALSO READ: What US government shutdown actually means: Explained in 10 points

Elon Musk’s role in taking down a bipartisan budget deal shows his ascendance as a political force

A government shutdown at risk, House Speaker Mike Johnson is fighting to figure out how to meet President-elect Donald Trump’s sudden demands — and keep his own job

The American economy grew at a healthy 3.1% annual clip from July through September, propelled by vigorous consumer spending and an uptick in exports, the government said in an upgrade to its previous estimate

The U.S. Commerce Department’s efforts to curb China’s and Russia’s access to American-made advanced computer chips have been “inadequate” and will need more funding to stymie their ability to manufacture advanced weapons