US central bank raises interest rates, warns of impact from Ukraine war
21 March 2022 | 10:08 am
The United States Federal Reserve has raised interest rates for the first time since 2018, as it tries to cool inflation, which is running at the highest level in 40 years. The Chair of the central bank, Jerome Powell, said the implications of the Russian invasion were "highly uncertain", pointing to the risk of disruption to supply chains. Also today, we look at details of the French government's plan to ease the economic impact of the war in Ukraine.
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The 2020 murder of George Floyd focused attention on police violence in the United States. Though the officers involved are serving time in prison, efforts to address police racism remain stalled.
The two Los Angeles residents are accused of scheming to revoke the tax-exempt status of a New York-based Falun Gong, an organization banned in China.
US President Joe Biden was optimistic about the US averting a technical default. Republicans have refused to raise the nation's debt limit unless Democrats make concessions on spending plans.
US President Joe Biden has announced that an agreement has been brokered with Republican House Speaker Kevin McCarthy to raise the government's debt ceiling This pivotal piece of legislation, now poised for a vote in Congress, requires a simple majority for its enactment. If passed, it would circumvent an unprecedented debt default potentially looming as early as June 5. President Biden characterises the proposed legislation as a "compromise", outlining a two-year budget plan which, in essence, holds non-defence spending steady for 2024.
As Sudan's warring generals make and break ceasefire agreements, tens of thousands of people continue to flee the country. People from the violence-stricken Darfur region in particular seek help — and hope — in Chad.
Bangladesh is scheduled to hold general elections by January 2024 and the US says it wants them to be free of electoral manipulation and misconduct.
Elon Musk, Chief Executive of Tesla, is making a visit to China this week. As the electric vehicle company's second-largest market and a crucial player in its supply chain, the country holds significant importance for Tesla. After a meeting with the Chinese foreign minister, Musk was reported to have expressed his opposition to the idea of "decoupling" the world's two leading economies.
The US debt ceiling deal still needs to pass in the voting round expected to take place in the House of Representatives.
The vote came just five days before the deadline to avoid a crippling default. The bipartisan agreement will now go to the Senate.
The US has signed a trade deal with Taiwan against vehement opposition from China. The move comes as Beijing has been stepping up pressure to intimidate the self-ruled island, which it sees as its own.
The annual inflation rate in the Eurozone dipped sharply in May to 6.1 percent, its lowest level since Russia invaded Ukraine last year. Despite this, European Central Bank Chief Christine Lagarde hinted at further, more gradual interest rate hikes to bring inflation down to its target of 2 percent.
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