Tag Archives: savings

The Federal Reserve, the central bank of the United States, plays a crucial role in managing the country’s money supply and interest rates. When interest rates rise, it becomes more expensive to borrow money, while when they lower, borrowing becomes cheaper. Certificates of Deposit (CDs) are savings accounts that offer …

Moody’s Analytics cautioned that a breach of the US debt ceiling could potentially cause an economic catastrophe akin to the one that occurred in 2008, which would destroy millions of jobs and set America back for centuries.Moody’s chief economist Mark Zandi called the impasse over extending the debt limit a …

China’s imports of Russian crude oil in May hit a record for one month of 8.42 million tons (about 1.98 million barrels per day), up 55 percent from the same month in 2021, according to Chinese customs data. Customs data released on Monday also showed that China imported 260,000 tons …

The cash crisis emerging at four rural banks in the central Chinese province of Henan is currently every saver’s nastiest nightmare.Deposits at four rural banks in the central Chinese province of Henan have been frozen since April 18, with looming protests in the capital city of Zhengzhou despite President Xi …

US households boosted spending for a fourth straight month in April, but the savings rate fell to the lowest in 14 years, suggesting many Americans are tapping savings to balance cost increases imposed by hot inflation.Consumer spending rose by a seasonally adjusted 0.9% last month, the Commerce Department said Friday, …