A ceasefire between the U.S. and Iran has eased tensions but gas prices remain high amid uncertainty over the Strait of Hormuz. Experts say any relief at the pump could take weeks and may reverse if the truce falters.
Posts tagged as “Moody’s Analytic”
Hurricane Idalia has caused immense destruction in Florida and other East Coast states, with an estimated $12-20 billion in damage and lost economic activity. President Biden has declared a major disaster and will be visiting the state to view the devastation firsthand. Homeowners are now turning to their insurance policies for help in the aftermath of the storm.
The United States Treasury Department has warned that the deadline to extend the debt ceiling or face the first U.S. default could be as early as June 1. Analysis from Moody's Analytics has revealed that tax receipts have been weaker than expected, leading to the revised timeline. Treasury Secretary Janet Yellen is urging Congress to act quickly in order to avoid a self-inflicted crisis, warning that "failure to act would have catastrophic economic consequences for every American."
Key takeaways: Moody’s Investors Service has cut its outlook on the entire US banking system to negative from stable Moody’s has downgraded or is reviewing…
At the end of 2022, the U.S. economy was on solid footing with a 2.9% annual growth rate, buoyed by consumer spending and businesses restocking supplies. However, economists are warning that the economy could slow further in the current quarter and slide into a mild recession by midyear. The Federal Reserve has indicated it is unlikely to raise interest rates this year, and may even lower them to help stimulate the economy.