The federal government will run out of existing funds to pay the nation’s bills sometime this summer unless Congress acts to raise the debt ceiling. Or will it? “There are actually quite a few ideas. What they’re doing is getting around the debt limit in a way that technically isn’t raising debt, but economically is…

Federal Reserve Bank Chairman Jerome Powell speaks at the Economic Club of Washington D.C. at 11:45 a.m. ET on Feb. 7. The Economic Club of Washington D.C. presents the event with courtesy. The Epoch Times will livestream the event. …

The Texas economy has softened with lower labor demands and manufacturing output, according to the latest report from the Federal Reserve Bank of Dallas. On Thursday, the Dallas Fed said wage and price pressures have also eased, adding that it previously overestimated the state’s full-year job growth. “There is also evidence that Texas payroll job…

An experimental “digital dollar” is being rolled out by the Federal Reserve Bank of New York, with involvement from financial companies including Mastercard, Citigroup, HSBC Holdings, and Wells Fargo. The 12-week experiment will work as a test for the creation of a centralized bank digital currency (CBDC) in the United States, similar to the “digital…

An experimental “digital dollar” is being rolled out by the Federal Reserve Bank of New York, with involvement from financial companies including Mastercard, Citigroup, HSBC Holdings, and Wells Fargo. The 12-week experiment will work as a test for the creation of a centralized bank digital currency (CBDC) in the United States, similar to the “digital…

An experimental “digital dollar” is being rolled out by the Federal Reserve Bank of New York, with involvement from financial companies including Mastercard, Citigroup, HSBC Holdings, and Wells Fargo. The 12-week experiment will work as a test for the creation of a centralized bank digital currency (CBDC) in the United States, similar to the “digital…

An experimental “digital dollar” is being rolled out by the Federal Reserve Bank of New York, with involvement from financial companies including Mastercard, Citigroup, HSBC Holdings, and Wells Fargo. The 12-week experiment will work as a test for the creation of a centralized bank digital currency (CBDC) in the United States, similar to the “digital…

U.S. inflation rates are getting worse despite a decline in consumer demand and a strong labor market, which suggests that the American economy is currently facing stagflation. Manufacturing activity in the Philadelphia region for October, fell for the second consecutive month, despite rising inflationary pressures, reported the Federal Reserve Bank of Philadelphia on Oct. 20….

Minneapolis Federal Reserve Bank President Neel Kashkari said on Tuesday his biggest fear is that the U.S. central bank misreads the extent and persistence of price pressures and will need to deliver even more aggressive rate hikes to control inflation. Kashkari is already the most hawkish of all the central bank’s 19 policymakers and expects…

ST PETERSBURG, Fla.—Atlanta Federal Reserve Bank President Raphael Bostic on Wednesday stoked rising expectations for more aggressive Fed action ahead, saying higher than expected June inflation might require policymakers to consider a 100 basis point increase at their meeting later this month. “Everything is in play,” Bostic told reporters during a tour of Tampa and…