US will hit debt limit on Tuesday, Yellen says in letter
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said that the government would reach its statutory borrowing limit on Tuesday and would begin employing “extraordinary measures” to keep from breaching the cap and triggering a potential catastrophic default. Yellen, in a
IMF’s board approves second review of Ethiopia’s $3.4 billion program
WASHINGTON (Reuters) – The executive board of the International Monetary Fund on Friday approved the second review of Ethiopia’s current financing program, the fund said, paving the way for a disbursement of about $250 million. The East African nation struck the
CBO sees US 2025 deficit flat at $1.9 trln before any Trump tax changes
By David Lawder WASHINGTON (Reuters) – The Congressional Budget Office on Friday forecast a $1.865 trillion U.S. budget deficit for fiscal 2025, largely flat with last year and indicating no major deterioration in government finances before President-elect Donald Trump takes office
US mid-sized banks ride industry upswing on robust fee income
By Manya Saini, Niket Nishant (Reuters) -A raft of U.S. banks reported higher fourth-quarter profits on Friday, extending a winning streak for the industry as an upswing in capital markets alleviated a hit from weaker loan demand. Long believed to be the
