Tag Archives: Biden administration

The first quarter of 2022 recorded US GDP growth rate of minus 1.5%, although nearly 1.7 million jobs have been created. For the second quarter, job growth is expected slow down, but most economists are forecasting growth to be in the 2% to 3% range. If economists are wrong and …

US shares closed Tuesday’s trading session exhibiting mixed performance, after US President Joe Biden’s comments indicating that his administration is pondering restructure of tariffs imposed on Chinese goods and services.There was also a slew of economic data that shed light on a deterioration in the US housing sector as well …

Federal Reserve Chair Jerome Powell was formally sworn in on Monday to begin his second four-year term as head of the U.S. central bank as it aims to tame the highest inflation in four decades without tipping the economy into recession. Lael Brainard was also sworn in as the Fed’s …

The White House sees more risks to US economic activity in the months ahead thanks to rising prices and Russia’s invasion of Ukraine, but still expects healthy GDP growth in 2022.A senior administration official said inflation, caused in part by Russia’s attack on Ukraine, and supply chain hiccups are additional …

The United States economy is facing several threats, including the war in Ukraine, high prices, painful grocery bills, spiking gasoline prices, troubled supply chains, laggard recovery from the pandemic, and rising interest rates that some economists look upon as a cause of slowdown and a hindrance of growth.Biden’s White House …

Amid a looming new sanctions package, the US Treasury Department’s new move would prohibit Russia from using funds held in American banks to pay debt obligations. The Treasury Department on Monday prohibited Russia from withdrawing funds held in American banks to pay its debt obligations, a major escalation aimed at …

Biden administration officials are looking at ways to boost oil imports from Canada, the Wall Street Journal reported on Tuesday. The White House still opposes the Keystone pipeline and other options include shipping more oil by rail, or expanding pipeline capacity along existing routes. The Canadian dollar saw immediate strength …

The Biden Administration will release 1M barrels per day in oil from the US Strategic Petroleum Reserve (SPR) over the next six months, according to a statement released by the White House on Thursday. The White House statement continued that the President will call on Congress to pass his plan …

US President Joe Biden announces his Budget for Fiscal Year 2023. This is expected to reduce deficits by more than $1 Trillion over the next decade, advance safety and security at home and around the world, and make the investments needed to build a better America.The Biden administration on Monday …

US Energy Secretary Jennifer Granholm, speaking at the CERAWeek energy conference in Houston on Wednesday, said that the Biden administration wants to work with US oil and gas producers to raise supply.The impacts of higher costs for fuel are real and severe, Granholm added, saying that “we have a responsibility …