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Mohamed El-Erian said the US debt-ceiling deadlock threatens more than Americans’ economic well-being.  “It also risks undermining further the country’s international reputation for sound economic management,” he said in a tweet.  Lawmakers have been sparring over the debt ceiling for months, despite the risk that the government could run out of money.  Loading Something is… Continue reading Mohamed El-Erian says the debt-cap deadlock threatens Americans’ economic well-being and the US’s international reputation

There’ll be a stock-market disaster if the debt-ceiling standoff isn’t resolved soon, 144 top execs have warned. “Action to end the pending debt crisis is necessary now,” they said in an open letter to president Joe Biden and congressional leaders. Goldman Sachs CEO David Solomon and Morgan Stanley boss James Gorman both signed Tuesday’s letter.… Continue reading There’ll be a stock-market disaster if the US debt crisis isn’t resolved soon, Goldman Sachs’ David Solomon and other top execs warn

Elon Musk slammed the Fed for operating with too much ‘latency’ in adjusting its policy to evolving economic circumstances. The Fed was slow to raise interest rates, and now they’re going to be slow to lower them, Musk said.  “You can think of raising the Fed rate as somewhat of a brake pedal on the… Continue reading ‘Too much latency’: Elon Musk slams the Fed for reacting too slowly to economic challenges

Google parent Alphabet’s market capitalization topped $1.5 trillion at Tuesday’s closing bell. It’s the first time since May 2022 that the tech giant has traded at that valuation. Alphabet, Apple, Microsoft, and Amazon are the four trillion-dollar US-listed companies. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed… Continue reading Google parent Alphabet rejoins the $1.5 trillion valuation club for the first time in a year as AI efforts spur rally

Janet Yellen just delivered some of her most alarming warnings about the potential consequences of a US debt default.  She warned a US default could “break” financial markets and risks triggering an economic “storm.”  “A default would crack open the foundations upon which our financial system is built,” Yellen said. Loading Something is loading. Thanks… Continue reading Janet Yellen ramps up warnings of a US debt default – saying it would break markets and lead to an ‘economic and financial storm’