The International Monetary Fund’s board approved a $3 billion bailout program for Pakistan which will immediately disburse about $1.2 billion to help stabilize the South Asian ailing economy, the lender said on Wednesday.
Despite promising signs that inflation is abating, San Francisco Federal Reserve Bank President Mary Daly said the fight against price increases isn’t over.
Inflation cooled for the 12th consecutive month in June, moving to 3% from 4% in May, according to the latest Consumer Price Index data from the Labor Department.
When central banks raise interest rates, mortgage borrowers can expect higher monthly repayments, while savers are supposed to be rewarded with bigger returns on their deposits. Or so the theory goes.
President Joe Biden on Wednesday formally unveiled “Bidenomics,” the ground-up economic philosophy he claims serves as the driving force behind the US economy’s success.