As European legislators prepared for their long Christmas holidays, Hungary’s prime minister advised them not to return.
American households lost about $6.8 trillion in wealth over the first three quarters of 2022 as the stock market shed more than 25% of its value, the Federal Reserve reported Friday in the government’s quarterly financial accounts.
Hungary’s controversial prime minister says his country will only consider ratifying NATO military alliance membership of Finland and Sweden next year.
Existing home sales in the United States fell for the ninth straight month in October as higher mortgage rates kept buyers out of the housing market.
U.S. interest rates rose again Wednesday in a sign that soaring inflation is hard to control in the world’s largest economy.
The monthly federal budget deficit was up 562 percent from September of last year, according to Treasury Department figures released Friday, mainly due to President Joe Biden’s student debt forgiveness plan.
Political tensions are rising in the Netherlands after the Dutch government decided to accommodate thousands of migrants on cruise ships.
Inflation in the United States accelerated in September, with the cost of housing and other necessities intensifying pressure on households, wiping out pay gains that many have received and ensuring that the Federal Reserve will keep raising interest rates aggressively.
The average interest rate on the most popular U.S. home loan rose to its highest level since 2006 as the housing sector continued to bear the brunt of tightening financial conditions, data from the Mortgage Bankers Association (MBA) showed on Wednesday.
Republicans are laser-focused on the economy in ads blanketing the airwaves before the midterm elections, while Democrats are sounding the alarm on abortion access as early voting gets underway in many states.
OPEC+ has announced a significant cut in global oil supplies ahead of European Union embargoes on Russia energy and in time for the peak winter season, Reuters reports. Exacerbating concerns about soaring inflation, the move is expected to push up the price of gasoline again.
A coalition of 130 lawmakers sent a letter to a top federal watchdog raising the alarm about a spike in foreign ownership of U.S. farmland.
Inflation in Germany increased to a record 10% last month as the country expects to enter a recession, DW reports.
The death toll of Hurricane Ian past 80, while residents in the U.S. state of Florida and the Carolinas faced recovery costs expected in the tens of billions of dollars.
President Biden has passed 99 executive orders since becoming president and a federal budget expert has estimated that the cost to taxpayers will be upwards of $1.5 trillion, with his recent student loan forgiveness accounting for a huge portion of that amount.
A new government report showed millions of Americans are struggling to pay for food, fuel, and rent as US inflation in August remained at 40-year highs, USA Today reports.
President Joe Biden’s plan to erase student debt and modify payments for millions of Americans could cost as much as $1 trillion, according to budget analysts.