A New York City subway operator, a school teacher, and other public workers have filed a lawsuit against the city’s pension fund managers, charging that they have misused city pension money to pursue a political agenda and harmed public workers who depend on that money to fund their retirement. Filed in New York courts on…
NYC Teacher, Subway Worker Sue City for ‘Abusing’ Retirement Fund for Climate Goals
May 15, 2023
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Big Tech, Censorship, and Socialismbrad landerBusiness & Marketseconomic policiesESGESG investingFeatured TopicsInvestmentpension fundspublic pension fundretirement accountUS
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Fed Officials Say Don’t Bet on Rate Cuts Even If There’s a Recession
Two senior Federal Reserve officials threw cold water on investor hopes for interest-rate cuts anytime soon as they both expressed concern about stubborn inflation. Raphael Bostic, president of the Federal Reserve Bank of Atlanta, highlighted the stickiness of inflation while saying that he does not anticipate any interest-rate cuts this year and, if anything, “we may have…
Libertarian Argentine Breaking the Leftist Mold in South America
Argentina is gearing up for a highly anticipated election in October, and with the country facing economic turmoil, voters are looking for a change. With an annual inflation rate of 109 percent, a rapidly depreciating black-market peso, and a severe drought affecting a large part of the country, the electorate has undergone a dramatic shift….
Biden Administration and GOP Lawmakers Trade Jabs Over Impending Debt Ceiling Deadline
May 15, 2023
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Business & Marketscongressdebt ceilingDefault on Debteconomic policieseconomyLael BrainardPolicies & ImpactsPoliticsUSUS News
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As the United States hurtles yet again toward a deadline by which either its debt ceiling is raised or it defaults on its financial obligations, Biden administration officials and Congressional lawmakers took to the Sunday talk shows on May 14 to voice their positions and sway public opinion. It’s a financial game of chicken, with…
What to Do If the Debt Ceiling Fight Worsens
May 14, 2023
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Business & MarketsBusiness Columnistsdebt ceilingdefaulteconomic policieseconomygoldinvestorsOpinionUSViewpoints
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Commentary The debt ceiling debate in Washington has been widely discussed but so far, few investors are truly worried. Most believe that when the deadline arrives, Congress and the White House will reach an agreement—even if it’s to kick the can down the road. As of now, Treasury Sec. Janet Yellen has set the deadline…
US ‘Has to Default’ on Something If Debt Ceiling Isn’t Raised Before Deadline: Yellen
May 14, 2023
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Business & Marketsdebt ceilingeconomic policieseconomyExecutive BranchinflationJanet YellenJoe BidenPolicies & ImpactsPoliticsUSUS News
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The U.S. government will have to default on some payments if Congress fails to raise the national debt ceiling before June, Treasury Secretary Janet Yellen said. “If Congress fails to do that, it really impairs our credit rating. We have to default on some obligation, whether it’s Treasuries or payments to Social Security recipients,” Yellen…
Illegal Immigration a ‘Serious Problem’: Analysis of Its Economic Impact
The United States on Friday ended Title 42, a COVID-19 border restriction that had blocked many migrants at the border with Mexico, immediately replacing it with a sweeping new asylum regulation meant to deter illegal crossings. What would be the economic impact of an influx of illegal immigrants into the United States? NTD spoke to…
‘Congestion Pricing’ To Toll Drivers Moves Closer to Reality In New York
May 12, 2023
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Business & Marketscongestion pricingDemocratseconomic policieseconomyManhattanMetropolitan Transit AuthorityNew YorkNew York CityNY NewsNY PoliticsNYC City LifePolicies & ImpactsPoliticsRegional & State NewsRegional NewsState NewsUSUS News
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New York City may start charging drivers traveling below Midtown Manhattan extra fees for congestion as early as April 2024. After years of heated debate, the NYC congestion pricing plan is expected to get final approval from the federal government next month. Urban commuter fees have been a pet project for environmentalists, urban planners and…
Business Leaders Oppose Biden’s New Power Plant Rules, Which Set Lofty Climate Goals
The Biden administration released its toughest-ever rules for power plants, drawing backlash from the country’s largest business organization. The U.S. Chamber of Commerce issued a statement on Thursday urging the administration to propose more reasonable carbon reduction goals for power plants to avoid disrupting the future power supply. The Environmental Protection Agency’s proposed power plant…
Consumer Sentiment Hits 6-Month Low in May: Survey
May 12, 2023
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ArchivedBusiness & Marketsconsumer sentimenteconomic policieseconomyNewsPolicies & ImpactsrecessionUMichUSUS News
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Consumer sentiment in the United States took a hit in May, dropping to its lowest point this year. This decline comes amid renewed concerns about the American economy and elevated expectations for inflation in the long term. According to the University of Michigan’s preliminary reading of its consumer sentiment index, the figure dropped to 57.7—considerably…
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