Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
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Target CEO Brian Cornell still thinks the U.S. consumer is strong and spending. Target's latest quarterly results showed the big-box retailer is benefiting from that.Retailread more
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President Trump insists the economy is healthy and says the only thing holding U.S. growth back is the Federal Reserve.Marketsread more
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The rule could defy a 2015 Flores Settlement Agreement court order that says families cannot be held in detention for more than 20 days.Politicsread more
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In a second-round of tweets aimed at the U.S. central bank, the president asked, "WHERE IS THE FEDERAL RESERVE?"Marketsread more
J.P. Morgan Chase customers will no longer be able to pay with their phones in stores beginning next year.Marketsread more
Senate Majority Leader Mitch McConnell said Thursday that he "would not expect to see" Senate Republicans take up partisan welfare and entitlement reform next year.
The Senate GOP would "have to have Democratic involvement" in changing those programs, the Kentucky Republican told Axios on Thursday.
House Speaker Paul Ryan has signaled that House Republicans want to turn to what he calls "entitlement reform" next year after the GOP's successful passage of a tax overhaul this week. Some Republicans have identified cutting spending as a way to address concerns about the roughly $1.4 trillion in tax cuts under the GOP plan.
"We're going to have to get back next year at entitlement reform, which is how you tackle the debt and the deficit," Ryan said on a radio show earlier this month.
"Frankly, it's the health-care entitlements that are the big drivers of our debt, so we spend more time on the health-care entitlements — because that's really where the problem lies, fiscally speaking," he added.
Democrats would not support cuts to programs like Medicare and Medicaid.
Senate Republicans, set to have 51 seats in the chamber next year, would need to win nine Democratic votes to pass legislation under normal rules of operation. The GOP could choose to make changes to the programs using budget reconciliation rules that require only a simple majority vote.