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Kamala Harris, the U.S. Vice President, made a statement in Nevada supporting the elimination of taxes on tips. This move is seen as an effort to appeal to service workers in the state and gain their support. Harris, along with her Democratic running mate Tim Walz, wrapped up a tour of battleground states, making promises
The recent announcement by the State Department regarding the provision of $3.5 billion to Israel for U.S. weapons and military equipment raises questions about the necessity of such financial aid. The timing of this release, following the appropriation by the U.S. Congress during Israel’s involvement in the war in Gaza, is suspicious and must be
In a recent legal battle, a federal appeals court extended an order blocking President Joe Biden’s administration from implementing a student debt relief plan aimed at reducing monthly payments for borrowers and expediting loan forgiveness for some. This decision came in response to a request by seven Republican-led states to halt the implementation of the
Recent data on initial jobless claims in the US has shown a decrease to 233,000, sparking optimism about the state of the labor market. This drop in claims has alleviated concerns about the weakening of the job market, as figures remain in line with previous years. The steady flow of layoffs, reflected in initial claims,
Despite Banxico’s surprising decision to lower rates by 25 basis points in a 3-2 split decision, the demand for the Mexican Peso continues to increase. This decision, signaling further easing ahead, comes amidst inflation risks and growth concerns in the country. The central bank’s projection for core inflation to dip below 4% by Q4 2024
The AUD/USD pair experienced a slight retreat on Friday, settling near 0.6575 after a modest descent of 0.30%. The Reserve Bank of Australia (RBA) continued to maintain a hawkish stance which contributed to the strength of the Australian Dollar. Additionally, the release of stronger Chinese inflation figures during the European session provided further support for
In a recent statement made by U.S. Vice President Kamala Harris, she emphasized the importance of the independence of the Federal Reserve. Harris made it clear that, if elected as president, she would never interfere in the decisions made by the Federal Reserve. This stands in stark contrast to former President Donald Trump’s stance on
In recent news, it has been reported that Indian automaker Mahindra & Mahindra and China’s Shaanxi Automobile Group are considering a joint venture to establish a car manufacturing plant in India. This $3 billion investment is currently awaiting approval from the Indian government, particularly Prime Minister Narendra Modi’s administration. Despite the initial excitement and anticipation
Federal Reserve Governor Michelle Bowman recently expressed a slightly softer stance on inflation, acknowledging some welcome progress in recent months. Despite this, she emphasized that inflation remains uncomfortably above the central bank’s 2% goal and is subject to upside risks. Bowman indicated that if inflation continues to move sustainably towards the 2% target, it may
As the summer season progresses, retailers in the United States are experiencing a surge in imports, fueled by the need to prepare for potential strikes by port workers and shipping disruptions. Container imports and freight rates have seen a significant increase in July, pointing towards an earlier peak season for the ocean shipping industry, which
Republican presidential candidate Donald Trump has made it clear that he is interested in infringing on the Federal Reserve’s independence if he is elected president once again. The former president believes that the president should have a say in Fed decisions, going against the idea of an independent Federal Reserve. This contradicts Vice President Kamala