By Patricia Zengerle WASHINGTON (Reuters) – U.S. lawmakers unveiled an annual defense policy bill leaving out most of the divisive social issues, such as abortion rights and treatment of transgender service members, that had threatened to derail the must-pass legislation. The Senate and House of Representatives Armed Services Committees released…

By Patricia Zengerle and Richard Cowan WASHINGTON (Reuters) -U.S. Senate leaders vowed on Thursday to keep trying to reach an agreement to provide billions of dollars in new security aid to Ukraine, but faced uncertainty about doing so quickly after Republicans blocked a sweeping foreign security assistance bill. Senate Republicans…

Corrects to show economists expect inflation to be above the Fed’s target in 2024. Ever since the pandemic started to lose its grip on the economy in 2022, fears of a recession have waxed and waned. Most of 2023 was spent awaiting the downturn. And with less than two more…

President Joe Biden will meet with his Chinese counterpart Xi Jinping near San Francisco Wednesday, and hanging over the summit is the threat of war over the island of Taiwan, a conflict that would likely cripple the world economy and plunge the U.S. and its allies into a devastating global…

Faris Hadad-Zervos, the World Bank’s country director, announced a $150 million aid package today to support Sri Lanka’s financial stability as the country grapples with a severe economic crisis. The crisis was triggered by a sharp devaluation of the rupee, which fell by nearly 50% last year following the government’s…

The October consumer inflation data show that progress continues on bringing inflation down, but price pressures remain well above the Fed’s preferred level, Chicago Federal Reserve President Austan Goolsbee said on Tuesday. “We still have a long way to go before we reach our 2% PCE inflation target,” Goolsbee said…

By Daniel Wiessner (Reuters) – A U.S. judge has blocked the U.S. Department of Justice from pursuing an administrative case accusing Elon Musk’s SpaceX of illegally refusing to hire refugees and asylum recipients. U.S. District Judge Rolando Olvera in Brownsville, Texas said in a written order late Wednesday that administrative…

The Democratic-run Senate has approved a short-term funding measure that prevents a partial government shutdown from hitting this weekend, with the vote coming after the Republican-controlled House of Representatives gave its OK on Tuesday to the continuing resolution. The measure passed late Wednesday night, by a vote of 87-11. “This…

In a recent address at the European Central Bank Conference, Dallas Fed President Lorie Logan emphasized the need for stronger liquidity infrastructure in the United States. Highlighting lessons from the spring banking crisis, Logan urged banks to proactively manage collateral at the Federal Reserve’s discount window and advocated for improvements…

Inflation can continue to decline without a sharp increase in unemployment — a so-called soft-landing — a top Federal Reserve official said Thursday. “I believe a soft landing is possible, with continued disinflation and a strong labor market, but it is not assured,” Fed Gov. Lisa Cook said in a…