Latest Government securities News

Congressional Budget Office says inflation to last into 2023

May. 25, 2022 18:16 PM EDT

WASHINGTON (AP) — The Congressional Budget Office released an economic outlook Wednesday saying high inflation will persist into next year, likely causing the federal government to pay higher interest rates on its debt. The nonpartisan agency expects the consumer price index to...

Fed officials signal rates may head to 'restrictive' levels

May. 25, 2022 15:20 PM EDT

WASHINGTON (AP) — Federal Reserve officials agreed when they met earlier this month that they may have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which is near a four-decade high. At the same time, many of the...

China becomes wild card in Sri Lanka's debt crisis

May. 20, 2022 01:18 AM EDT

COLOMBO, Sri Lanka (AP) — China says its initiative to build ports and other infrastructure across Asia and Africa, paid for with Chinese loans, will boost trade. But in a cautionary tale for borrowers, Sri Lanka's multibillion-dollar debt to Beijing threatens to hinder efforts to resolve a...

'Corrupt to core' Caribbean premier gets bond in drug case

May. 11, 2022 18:17 PM EDT

MIAMI (AP) — The premier of the British Virgin Islands, whom U.S. prosecutors described as “corrupt to the core,” was given a $500,000 bond that could see him released from prison as he awaits trial on charges tied to a U.S. narcotics sting. In a surprise decision, federal...

EXPLAINER: Recession fears grow. But how high is the risk?

May. 09, 2022 13:13 PM EDT

WASHINGTON (AP) — Inflation is at a 40-year high. Stock prices are sinking. The Federal Reserve is making borrowing much costlier. And the economy actually shrank in the first three months of this year. Is the United States at risk of enduring another recession, just two years...

Rising interest rates in US will hinder foreign economies

May. 05, 2022 00:23 AM EDT

WASHINGTON (AP) — When the Federal Reserve raises interest rates — as it did Wednesday — the impact doesn’t stop with U.S. homebuyers paying more for mortgages or Main Street business owners facing costlier bank loans. The fallout can be felt beyond America’s borders,...

Biden showcases deficit progress in bid to counter critics

May. 04, 2022 14:02 PM EDT

WASHINGTON (AP) — President Joe Biden on Wednesday highlighted new figures showing the government's red ink will grow less than expected this year and the national debt will shrink this quarter as he tried to counter criticism of his economic leadership amid growing dismay over inflation going...

How to save more when inflation makes your money count less

May. 04, 2022 14:00 PM EDT

When it comes to spending power, inflation means that things cost more and that your money becomes less valuable. When a period of high inflation hits — like right now — you may want to consider changing up the way you handle your finances to help protect the value of your cash. ...

EXPLAINER: What's the latest in Russia's dance with default?

May. 03, 2022 19:49 PM EDT

Russia appeared to dodge default on its foreign debt by dipping into its scarce dollar reserves. But Moscow's debt drama is far from over. Russia's finance ministry abandoned its proposal to use rubles instead of dollars to make overdue payments on two government bonds, saying...

Sri Lankan protesters mark new year near president's office

Apr. 14, 2022 04:23 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lankans shared milk rice and oil cakes to celebrate their traditional new year on Thursday opposite President Gotabaya Rajapaksa’s office, where they camped out for a sixth day demanding his resignation over the worst economic crisis in memory. ...