Two federal judges, one in Kansas and another in Missouri, have recently blocked President Joe Biden’s administration from implementing a new student debt relief plan. At the urging of several Republican-led states, U.S. District Judge Daniel Crabtree in Wichita, Kansas, and U.S. District Judge John Ross in St. Louis, Missouri, issued injunctions preventing the Department
Economy
In a recent interview, two external members of the Reserve Bank of India’s monetary policy committee (MPC) expressed their views on the need for an interest rate cut to sustain high growth in India’s economy. Ashima Goyal and Jayanth Varma, both of whom voted to cut the benchmark rate at the last policy meeting, argued
The Bank of Japan held discussions in June regarding the possibility of a near-term interest rate hike, with one policymaker advocating for an immediate increase to address the risks of inflation surpassing expectations. The meeting summary revealed a growing awareness within the board of the escalating inflationary pressure in the world’s third-largest economy. This heightened
As the final trading week of the first half of the year commences in Asian markets, there is a mixed sentiment prevailing. From an equity perspective, Asia’s scorecard appears reasonably positive, while the outlook is more somber when viewed through a currency and bond lens. Chinese markets, in particular, are facing challenges as they strive
Chancellor Olaf Scholz of Germany’s coalition government recently announced in a television interview that his administration will prioritize its social agenda while also providing military aid to Ukraine. Despite facing budget negotiations, Scholz emphasized the government’s dedication to defending and further developing the welfare state in Germany. The coalition, comprising the Social Democrats (SPD), pro-business
The recent development between China and the European Union to start talks on the planned imposition of tariffs on Chinese-made electric vehicles (EVs) has stirred conversations on both sides. This agreement signals a significant step towards resolving trade issues between the two economic giants. Germany’s Economy Minister Robert Habeck stated that the EU’s door is
Germany’s Economy Minister, Robert Habeck, recently visited China to discuss the proposed European Union tariffs on Chinese imports. Contrary to popular belief, Habeck clarified that these tariffs were not intended as a punishment but rather as a means to combat what the EU considers unfair subsidies granted to Chinese companies. During a dialogue session in
The recent decisions made by central banks around the world have had a significant impact on currency markets. The Federal Reserve’s patient approach to cutting interest rates stands in stark contrast to the more dovish stances taken by other central banks. This divergence in monetary policy has led to fluctuations in the value of the
Despite a lower-than-expected inflation reading in Israel, many analysts argue that the central bank will not resume its rate cutting cycle anytime soon. The ongoing war against Hamas is seen as a significant constraint for policy makers. May’s inflation rate of 2.8% was below a consensus of 3.2%, surprising markets. However, the inflation rate is
Germany’s economy minister is set to embark on a journey to Asia, with South Korea being the first stop on the itinerary. The purpose of this visit is to enhance economic relations with the region’s fourth-largest economy, as Germany looks to reduce its trade exposure to China. Both Germany and South Korea are industrial powerhouses