Table of Contents
- U.S. Stocks are mixed as investors await clarity on debt ceiling talks
- Inflation has eroded U.S. Households financial security, Fed Survey shows
- Bangladesh is struggling to pay for imported fuel
- RBI Governor Shaktikanta Das asks banks to strengthen governance and assurance functions.
U.S. Stocks are mixed as investors await clarity on debt ceiling talks
President Joe Biden was expected to meet with House Speaker Kevin McCarthy, a California Republican, later today as aides spent the weekend trying to sew up an agreement. The deadline for Congress to raise the ceiling or suspend it is quickly approaching, with some estimates saying the government will run out of options to continue paying its obligations as early as June 1.
Economists and administration officials have said a default could create chaos in financial markets.
A default would cause chaos in financial markets and spike interest rates.
Inflation has eroded U.S. Households financial security, Fed Survey shows
The inflation wave that crested at a 40-year high last year and remains elevated has eroded U.S. households’ sense of financial security, the Federal Reserve reported Monday, with many saying they had reduced their savings to make ends meet, felt less secure about retirement, and had delayed purchases or swapped into cheaper products as they shopped.
In an annual survey showing the corrosive effects of inflation on Americans’ economic confidence, the Fed said the percentage of respondents who said they were doing “at least okay financially” in 2022 tumbled by 5 percentage points – the most since the survey was launched a decade ago – to 73%. It had stood at a record high the year before.
Bangladesh is struggling to pay for imported fuel
DHAKA: Bangladesh is struggling to pay for imported fuel because of a dollar shortage, letters reviewed by Reuters show, with the state petroleum company owing more than USD 300 million as it faces an “alarming decrease in fuel reserves”.
RBI Governor Shaktikanta Das asks banks to strengthen governance and assurance functions.
The Indian economy is slowly but surely recovering from the hit caused by the pandemic and European war but there is still no room for complacency, the Reserve Bank of India staff said on May 22. “An environment of low and stable prices is necessary for strengthening the foundations and resilience of this recovery.
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