Weekly Digest – 31 May 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Biden, McCarthy reach final deal to prevent default, now must sell to Congress

President Biden and House Minority Leader Kevin McCarthy have reached a final deal to prevent the US from defaulting on its debt. The deal must now be sold to Congress, who will need to pass it in order to avoid a potential economic crisis.

House Committee Passes Six Bills Favoring Main Street

The House Committee recently passed six bills that are designed to help small businesses. These bills focus on providing access to capital, increasing access to federal contracts, and providing tax relief. The bills are expected to help Main Street businesses and create jobs.

US Stock Futures, Asian Equities Rise on Debt Deal: Markets Wrap

US stock futures rose on Tuesday as the dollar weakened and investors looked ahead to the Federal Reserve’s policy meeting. The S&P 500, Nasdaq and Dow Jones Industrial Average futures were all up, with the Nasdaq leading the way. Investors are expecting the Fed to keep interest rates unchanged and provide an update on its economic outlook.

Tight labor market has increased demand for teens in summer jobs

The tight labor market has increased the demand for teen summer jobs, with employers looking to hire more teens than in previous years. This is due to the low unemployment rate, which has made it difficult for employers to find workers. Teens are taking advantage of the opportunity to gain work experience and earn money.

The dangers of money market funds

Money market funds are a popular investment option, but they can be risky. They are not insured by the FDIC, and their value can fluctuate, leading to losses. Investors should be aware of the risks before investing in money market funds.

The Recession Keeps Getting Postponed. It May Never Come

The US economy has been growing for over 10 years, and many economists are predicting that a recession may never come. Despite the fact that the economy is slowing down, it is still growing and there are no signs of a recession in the near future.

Russia’s war in Ukraine is spurring investments in renewable energy

Russia is investing heavily in renewable energy, with plans to increase its clean energy capacity by 40% by 2035. This is part of a larger effort to reduce its reliance on fossil fuels and become a leader in the global clean energy market… read more

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