In a surprising move, Fitch Ratings downgrades the United States' credit rating from 'AAA' to 'AA+', citing fiscal concerns and governance issues, raising alarm in the financial world.
Treasury Secretary Janet L. Yellen hails significant strides in IRS modernization and inflation reduction under the Inflation Reduction Act, while voicing disagreement with Fitch's recent U.S. credit rating downgrade.
In a significant address on August 3, 2023, Eric Van Nostrand, Acting Assistant Secretary for Economic Policy, hailed the success of the price cap policy in countering Russia's aggression in Ukraine and promoting global economic stability.
Texas' service sector witnessed accelerated growth in July, reflected by a nine-point rise in the revenue index, marking a 16-month peak. Employment remained steady, while business outlooks displayed a mix of sentiments.
In a recent address, Federal Reserve Bank of Richmond President Tom Barkin offered insights into the possibility of a recession, highlighting resilience in the face of inflation and economic challenges.
The Federal Reserve recently unveiled the FedNow® Service, an instant payment system that offers customers and businesses immediate money transfers anytime and on any day.