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Economy

U.S. Deficit, Pegged at $1.7 Trillion, Effectively Doubled in 2023

Evan Harrington

America’s federal budget deficit effectively doubled in the 2023 fiscal year as slumping tax receipts, rising interest rates and persistent demand for expiring pandemic relief benefits strained the nation’s finances.The…

Economy

The Multimillion-Dollar Machines at the Center of the U.S.-China Rivalry

Evan Harrington

They are smooth white boxes, roughly the size of large cargo vans, and they are now at the heart of the U.S.-Chinese technology conflict.As the United States tries to slow…

Economy

The Federal Deficit Is Growing. This Is Why.

Evan Harrington

America’s federal budget deficit appears to have roughly doubled over the year to $2 trillion, a surprising jump given the strength of the economy.The deficit is the gap between how…

Economy

Jon Stewart’s Show on Apple Is Ending

Evan Harrington

Jon Stewart’s show on Apple’s streaming service is abruptly coming to an end, according to several people with knowledge of the decision, the result of creative differences between the tech…

Economy

Powell Says Strong Economic Data ‘Could Warrant’ Higher Rates

Evan Harrington

Jerome H. Powell, the chair of the Federal Reserve, reiterated the central bank’s commitment to moving forward “carefully” with further rate moves in a speech on Thursday. But he also…

Economy

Those Doritos Too Expensive? More Stores Offer Their Own Alternatives.

Evan Harrington

The snack chips had become pretty pricey.For years, customers stopping at Casey’s General Stores, a convenience store chain in the Midwest, hadn’t thought twice about snagging a soda and a…