A default could shatter the $24 trillion market for Treasury debt, cause financial markets to freeze up and ignite an international crisis.
economy
Posted inOp-Eds, Opinion
Maine Voices: Rethinking the future – how much growth do we want?
A population explosion is straining infrastructure, hurting the climate, driving up the deficit and fueling competition for housing. Federal officials should keep this in mind when making policy.
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Posted inBusiness, Nation & World, News
A slowdown in U.S. inflation eases some pressure on households
Gas and electricity prices have fallen, but grocery costs continue to be a sore spot.
Posted inTimes Record
Report: Out-of-state recruiting helps BIW drive Maine economy
An analysis from University of Southern Maine’s Center for Business and Economic Research found Bath Iron Works supported more than $1.8 billion in economic output in 2021, thanks in part to the shipyard’s push to draw out-of-state workers, a strategy labor experts say could help solve the problem of Maine’s shrinking workforce.
Posted inBusiness
At Michigan chip plant, Biden says unions ‘built middle class’
The president’s visit come amid lawmakers’ efforts to prevent a rail strike.
Posted inBusiness
U.S. stock indexes fall as lockdown protests spread in China
Investors have a busy week ahead as they continue monitoring the hottest inflation in decades and its impact on consumers.
Posted inBusiness, Nation & World, News
On election eve, the state of the U.S. economy is a blurry one
From certain angles, the nation’s economic picture looks like a healthy one, but it’s being photo-bombed by an unsightly intruder: Chronically high inflation.
Posted inBusiness, Nation & World, News
U.S. economy rebounds amid resilient consumers, businesses
The U.S. economy grew at a solid pace in the third quarter, marking the first advance this year.
Posted inBusiness, Nation & World, News
U.S. economy shrank at 0.6% annual rate from April through June
It marked the second consecutive quarter of economic contraction, one informal rule of thumb for a recession.
Posted inOp-Eds, Opinion
Marty Walsh: Actually, America’s workforce is stronger than ever
We shouldn’t emerge from the pandemic with a soured view of our national work ethic, the U.S. labor secretary says.