Us Economy

US Fed makes biggest rate hike in over two decades to tame record inflation

After a quarter-point increase in March, the US central bank's policy-setting committee pushed the rate above 0.75 percent and said more increases "will be appropriate."

Pittsburgh bridge comes crashing down ahead of Joe Biden's arrival

A strong smell of natural gas permeated the area after the snow-covered roadway collapsed, but there were no fatalities or life-threatening injuries, US authorities say.

Fed to start raising key interest rate from March to tame inflation

US central bank's latest policy statement comes as stock market investors were gripped by fear and uncertainty over just how fast and far the Fed will go to reverse its low-rate policies.

Biden touts 'enormous progress' in first year despite pandemic

President Biden acknowledges the pandemic has left Americans exhausted and demoralised but insists at a news conference marking his first year in office that he has "outperformed" expectations.

Biden signs legislation to avert partial government shutdown

The US Congress had earlier approved the short-term funding measure by a 254-175 vote not long after Senate passage in a 65-35 vote.

Biden unveils 'once-in-a-generation' $2T infrastructure investment plan

The package will create millions of jobs, putting the country in a position to win the global competition with China in the upcoming years, US President Joe Biden says.

Biden to sign order to address growing hunger crisis

US President Joe Biden is signing two executive orders that will increase food aid, protect job seekers on unemployment and clear a path for federal workers and contractors to get a $15 hourly minimum wage.

US President Trump reluctantly signs Covid-19 relief package into law

Trump forgoes earlier demand of increasing stimulus cheques for struggling Americans to $2,000 from $600. The turnabout came after calls from all sides of the political spectrum for action to avert an economic and social disaster.

US shutdowns cost $169B but saved 29,000 lives

Researchers in Germany and France have reached a sobering calculation that US closures saved lives – at a high cost to economy.

Bidenomics vs Trumpenomics: what’s better for struggling America?

Between making the rich wealthier, or spending more than the government can afford, the two presidential candidates have presented starkly opposing economic plans. They are only similar in recognizing the US is more in debt than ever before.

Shares, oil prices slip as Trump tests positive for virus

The positive test reading for the leader of the world’s largest economy adds more uncertainty to investors' worries. US stock futures and Asian shares fell in the wake of the news. Future contracts for S&P 500 and Dow industrials lost 1.9 percent.

Trump: Pentagon chiefs 'fighting wars' to oblige arms companies

President Donald Trump says US soldiers are "in love" with him, but the US military leaders "probably aren't because they want to do nothing but fight wars."