2023 US recession now expected to start later than predicted
WASHINGTON (AP) — A majority of the nation’s business economists expect a U.S. recession to begin later this year than they had previously forecast, after a series of reports have pointed to a surprisingly resilient economy despite steadily higher interest rates.Fifty-eight percent of 48 economists who responded to a survey by the National Association for […]
China accuses Washington of wanting ‘technology hegemony’
BEIJING (AP) — China’s government accused Washington on Tuesday of pursuing “technology hegemony,” following reports the United States might step up pressure on tech giant Huawei by blocking all access to American suppliers.The Biden administration is weighing further limiting the Chinese tech giant’s ability to purchase essential components from U.S. suppliers, which could restrict Huawei’s […]
US Treasury buys time for Biden and GOP on debt limit deal
WASHINGTON (AP) — The U.S. government bumped up against its debt limit Thursday, prompting the Treasury Department to take “extraordinary” accounting steps to avoid default — as friction between President Joe Biden and House Republicans raised concern about whether the U.S. can sidestep an economic crisis.The Treasury Department said in a letter to congressional leaders […]