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Former Federal Reserve Chairman Alan Greenspan warns that government spending “extremely dangerous” to the future of the US economy. Greenspan decried a rise in entitlement costs, which he contended have pressured the U.S. economy.
The US economy grew at an annualized pace of 2.3% in the three months to June, official figures have shown. The figure - the first estimate of growth in the second quarter - followed an upwardly revised growth rate of 0.6% in the first three months of the year. The Commerce Department said growth was boosted by increased consumer spending and cheaper fuel prices.
The United States Federal Reserve on Wednesday decided to leave its benchmark federal funds interest rate unchanged at between 0 percent and 0.25 percent, while it offered an optimistic assessment of the world's biggest economy and hinted that a rate hike remains on the short-term horizon.
The U.S. Justice Department and Carnival Corp. have reached a comprehensive, landmark settlement agreement under the Americans with Disabilities Act (ADA) to advance equal access for individuals with disabilities who travel on cruise ships, the Justice Department announced Wednesday.
Argentina asks if Iran nuke-deal includes delisting Iranian wanted in major bomb attack in Buenos Aires
Argentina's foreign minister is asking U.S. Secretary of State John Kerry and European Union Foreign Affairs representative, Federica Mogherini to clarify whether Washington's nuclear deal with Iran includes removing from Interpol's list an Iranian wanted in a major bomb attack in Buenos Aires that took place in 1994 and remains unsolved.
With the recently concluded nuclear deal between Iran and the P5+1 countries, oil prices have already started heading downward on sentiments that Iran's crude oil supply would further contribute to the already rising global supply glut. The economic crisis in Greece, OPEC's high production levels and China's market turmoil have created more pressure on oil prices, making a price rebound look highly unlikely in the near future.
The number of US citizens filing new applications for unemployment benefits last week dropped to its lowest level in more than 41 and a half years (1973), suggesting the labor market maintained a sturdy pace of job growth in July.
The White House said it was in the final stage of drafting a plan for closing the Guantánamo prison for foreign terrorism suspects, racing against time to resolve one of President Barack Obama's most intractable problems. Spokesman Josh Earnest said the administration hoped to short circuit opposition from Republicans in Congress who have blocked Obama from closing the prison.
U.S. Secretary of State John Kerry on Monday called the restoration of diplomatic relations with Cuba a new beginning but said many differences remain between the two nations and warned that the full normalization of ties will be a long process. He spoke hours after ceremonies were held in Havana and Washington to mark the restoration of ties after more than five decades of hostility.
Comparing FIFA to the mafia is almost insulting to the mafia, a US senator said, turning up the heat on football's corruption-tainted world governing body to reform. Richard Blumenthal made the remark at a Senate subcommittee hearing scrutinizing FIFA, after US authorities in May indicted 14 people - including top football officials over tens of millions of dollars of alleged bribes for media rights contracts.