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James Bullard said he dissented on this week's Fed decision to lower rates by a quarter percentage point because he didn't think the cut was big enough.The Fedread more
More than 400 Chinese products will be temporarily exempted from tariffs that President Donald Trump's administration imposed last year.China Economyread more
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The president of the World Bank on Saturday warned the United States was just "days away" from causing a global economic disaster unless politicians come up with a plan to raise the nation's debt limit and avoid default.
"We're now five days away from a very dangerous moment. I urge U.S. policymakers to quickly come to a resolution before they reach the debt ceiling deadline...Inaction could result in interest rates rising, confidence falling and growth slowing," World Bank President Jim Yong Kim said in a briefing following a meeting of the bank's Development Committee.
"If this comes to pass, it could be a disastrous event for the developing world, and that will in turn greatly hurt developed economies as well," he said.