Hello. Welcome to AS USA’s live blog covering economic and financial news.
Negotiations between President Biden and Congressional Republicans will continue at the White House earlier this week. Both parties are under pressure to reach a deal as the U.S. Treasury reaches its debt ceiling and has only eight days left before it has enough money to pay its bills.. Both sides confirmed that the proposal would require bipartisan support, which House Speaker Kevin McCarthy, with his small majority, could find difficult.
We also provide updates on states that continue to send relief money to their residents.
As summer approaches, many people start planning their vacations. Airfares fell, but gas prices rose slightly, those planning to travel may encounter higher prices. However, like airfares, these, too, are likely to be lower than last year.
The Fed continues to assess the prospects for further rate hikes after announcing plans to suspend further interest rate hikes for a period of time. But with the unemployment rate dropping to 3.4% in April, the central bank may choose a more aggressive path. We will keep you updated on that as we learn more.