more than 9% injune of last year. it is a sign of the federal reserve s moves to raise interest rates to slow down inflation seems to be working. but analysts still think america central bank will raise interest rates one more time at their next meeting. it is good news for consumers but also good news for us president joe biden who counted the administration s efforts to bring prices down. he is facing re election next year and being able to control inflation without pushing the repeat into recession, it will be key in montana for years at the white house. the chief economist says he is wondering whether this is a turning point. other central banks around what asking themselves, has the us peak? we are, consumers can get the stuff they want to buy. one of the things they are concerned with is even that he had numbers is down to 3%, waved down from nine, the core inflation excluding the food and energy components are still pretty high, nowhere near the 2% target. i think w
and it has fallen pretty sharply from its peak of more than 9% injune of last year. it is a sign that the federal reserve s moves to raise interest rates to slow down inflation seems to be working. but analysts still think america s central bank will raise interest rates one more time at their next meeting. now, the cooler inflation is good news for consumers but it is also good news for us presidentjoe biden, who touted the administration s efforts to bring prices down. now, he s facing re rlection next year and being able to control inflation without pushing the economy into a recession will be key if he want another four years in the white house. william lee is the milken institute chief economist and he says everyone is wondering whether this is a turning point. that is the ultimate question at the fomc and all the central banks around about asking themselves, has it peaked? a lot of the inflation decreases have come about because supply chain to become restored around th
obligations. it has until the first ofjune to sign an agreement or the us could face an economic catastrophe. in just over two weeks the united states could run out of money to pay its debts. the consequences of breaching the debt limit would be catastrophic for the country. and there is pressure on democrats and republicans to make a deal before june first. us presidentjoe biden spoke about the debt ceiling negotiations before leaving for the g7 summit injapan, a trip he is cutting short to get back to washington to continue the talk. i made clear that america is not a deadbeat nation, we pay our bills. the nation has never defaulted on its debt and it never will. we re going to continue these discussions with congressional leaders in the coming days until we reach an agreement. president biden and congressional leaders have agreed the country will not default but the consequences would be dire for the american economy and all sides are confident that they will be able to ge
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kevin mccarthy in california. and an early morning statement the spokesperson for the chinese ministry accused washington of colluding with taiwan especially over the issue of arms sales. earlier mr mccarthy said they must strengthen economic cooperation with the island that china has claimed as its own. claimed as its own. whether it s out deep claimed as its own. whether it s out deep commercial - claimed as its own. whether. it s out deep commercial ties, strong people to people relationships or shared values, our cooperation with the people of taiwan continue to expand through dialogue and exchange. mr mccarthy is the most senior us figure to meet with a taiwanese leader on american soil since 1979, taiwanese leader on american soilsince 1979, despite taiwanese leader on american soil since 1979, despite the rhetoric, though, taiwanese firms do big business with both china and the united states in fact china is taiwan s largest trading partner. earlieri spoke with the