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Economy

“Congress passes $886 billion defense policy bill, Biden to sign into law”

“More than two-thirds of the U.S. House of Representatives voted in favor of a defense policy bill on Thursday that includes a record $886 billion in annual military spending and authorizes policies such as aid for Ukraine and push back… Continue Reading…

Stocks

“Dow slides 300 points as Fed policy meeting begins, rates surge”

“…The Dow Jones Industrial Average fell 340 points, or 1.1%. The S&P 500 shed 1% and the Nasdaq Composite slid 0.7%. The Federal Open Markets Committee begins its September meeting on Tuesday, where central bankers are expected to announce a… Continue Reading…

Banking

“In policy shift, the Fed projects three interest rate hikes in 2022”

“With inflation now running at its fastest pace in nearly 40 years and showing no signs of slowing down, the Federal Reserve on Wednesday abandoned its wait-and-see strategy and indicated that it could begin stepping on the economic brakes soon.… Continue Reading…

Business

“Amazon isn’t the only company that paid $0 in federal taxes last year”

“Under President Trump’s new tax law, 60 of America’s biggest corporations paid $0 in federal taxes in 2018, despite earning billions of dollars in profits. Amazon, Netflix, General Motors, Chevron, JetBlue, IBM and U.S. Steel were all among the companies… Continue Reading…