Washington Financial News

The Biden administration is imposing tariffs on steel and aluminum shipped from Mexico that were made elsewhere

Inflation in the United States cooled in June for a third straight month, a sign that the worst price spike in four decades is steadily fading and may soon usher in interest rate cuts by the Federal Reserve

Pakistan Finance Minister Muhammad Aurangzeb has warned that the cash-strapped country will continue to seek IMF bailouts if it fails to boost tax revenue, according to a media report on Monday. The Pakistan Muslim League-Nawaz (PML-N) leader in an interview with the the UK-based Financial Times newspaper said that he was «relatively confident» of reaching a staff-level agreement with the Washington-based global lender this month for an estimated loan of USD 6-8 billion. Aurangzeb, however, said, «It will not be our last fund programme if we don't bring our tax revenues up.» Last month, the federal government passed the tax-laden Rs 18,877 billion budget for the fiscal year 2024-25, amidst protests from the Opposition which labelled it as an International Monetary Fund-driven document that was harmful to the public.

The Bahnsen Group founder and CIO David Bahnsen surveys the real estate market as younger homebuyers struggle with the ongoing housing crisis. 

The IRS has collected $1 billion in back taxes from high-wealth tax cheats — a milestone meant to showcase how the agency is making use of the money it received as part of the Biden administration’s signature climate, health care and tax package signed...

The Federal Reserve faces a cooling job market as well as persistently high prices, Chair Jerome Powell said in testimony to Congress, a shift in emphasis away from the Fed’s single-minded fight against inflation that suggests it's moving closer to cut...

The Bahnsen Group founder and CIO David Bahnsen surveys the real estate market as younger homebuyers struggle with the ongoing housing crisis. 

Air travel is getting more miserable

The number of Americans filing for unemployment benefits inched up last week, but remain at historically healthy levels despite elevated interest rates

Costco bargain hunters are going to have to pay an additional $5 to $10 annually as the popular warehouse chain prepares to raise its membership fees for the first time in seven years

Federal Reserve Chair Jerome Powell reinforced a message that the Fed is paying growing attention to a slowing job market and not only to taming inflation, a shift that signals it’s likely to begin cutting interest rates soon

Vladimir Putin said that he may be forced to use nuclear weapons if the existence of his country is threatened, the specter of nuclear war has been haunting the US. It has increased with escalating the Russia- Ukraine War and mounting China-US pressure over Taiwan and the South China Sea. Amid these disturbing scenarios, a map has been released showing the potential targets in the US if a nuke war gets triggered. As many as 90 cities have found a place in the map, that may disturb not only their residents but also defense experts and the military.

Dalai Lama's next move. Their top-of-the-mind question is whether the Tibetan leader will be announcing his successor. Supporters of the 14th Dalai Lama, which include US lawmakers, are worried that China will try to beat him in the race and declare its own 15th Dalai Lama. 'They have even attempted to insert themselves into the succession of the Dalai Lama. We will not let that happen,' said Republican chair of the US House Foreign Affairs Committee Michael McCaul. For Tibetans living in China and spread across several countries, the Dalai Lama is a 'living Buddha' and represents the symbol of Tibetan identity and Chinese repression. He escaped from Tibet to India in 1959 after Chinese troops took over Tibet and indulged in a bloodbath.

defeat against Zimbabwe in the 1st T20I, India spinner Ravi Bishnoi said that they lacked partnerships which made the difference in the game. Ravi Bishnoi displayed a stunning performance in the first inning after he picked up four wickets and gave 13 runs in his four-over spell at an economy rate of 3.20. Speaking after the match, Bishnoi said that if the Indian batters had made a 20-30 run stand while chasing, they could have won the match.

General Motors will pay nearly $146 million in penalties to the federal government because 5.9 million of its older vehicles don’t comply with emissions and fuel economy standards

IPL 2024 season.In an earlier interaction with The Times of India, Ruturaj had talked about the things he learned from MS Dhoni. He said, "Being neutral is something that I have learnt from Mahi bhai.

Joe Biden contesting the upcoming Presidential Election in November. While many in the House of Representatives have openly voiced their concerns against Biden after the first presidential debate, those in the Senate have remained quiet till day. This may change soon. There are multiple reports indicating that various Senators belonging to the Democratic Party have gathered in Washington to discuss the political situation in the country. There are also growing number of Senators who are demanding answers from Biden and sought assurances on the way forward. This has been reported by The Hill.

New Treasury rulemaking would expand the U.S. Committee on Foreign Investment in the United States’ jurisdiction to review land sales near 56 additional military sites, bringing the overall number to 227

The Supreme Court is taking up an e-cigarette case

The Supreme Court has opened the door to new, broad challenges to regulations long after they take effect, the third blow in a week to federal agencies

The Supreme Court is keeping a hold on efforts in Texas and Florida to limit how Facebook, TikTok, X, YouTube and other social media platforms regulate content posted by their users