Republican lawmakers in Arizona pushed back on aspects of Gov. Katie Hobbs’ proposed fiscal 2025 budget, particularly its targeting of rising costs for the state’s universal school voucher program. The spending plan, which was unveiled by the Democratic governor Friday and had its first airing Tuesday before the Republican-controlled legislature’s Joint Appropriations Committee, aims to
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Prospective home buyers visit a home for sale during an Open House in a neighborhood in Clarksburg, Maryland on September 3, 2023. Homeownership feels increasingly out of reach for younger generations of Americans, who are squeezed by student debt and childcare costs in an era of slower economic growth. The pressures come as President Joe
Stay informed with free updates Simply sign up to the UK inflation myFT Digest — delivered directly to your inbox. UK inflation unexpectedly accelerated in December raising questions over how soon the Bank of England will start cutting interest rates. Consumer prices rose at an annual rate of 4 per cent in December, up from
The state of Wisconsin is embarking on a flurry of debt-related activity as the year begins, with a cash defeasance and three refunding deals that may include tenders on the table in the first quarter. The defeasance was made possible by the state’s 2023-25 biennial budget, which included $400 million to pay down outstanding general
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is author of ‘Black Wave’, distinguished fellow at Columbia University’s Institute of Global Politics and an FT contributing editor Lebanon’s caretaker foreign minister, Abdallah Bou Habib, made a startlingly frank admission of powerlessness
The Federal Reserve should be able to “methodically and carefully” lower its interest rate target this year, if inflation continues to moderate, Federal Reserve Gov. Christopher Waller said Tuesday. “When the time is right to begin lowering rates, I believe it can and should be lowered methodically and carefully,” Waller said in a Brookings event.
Former U.S. President Donald Trump arrives to speak to the press after attending the civil fraud trial against the Trump Organization in New York State Supreme Court, in New York City on Jan. 11, 2024. John Lamparski | AFP | Getty Images The top court in New York State on Tuesday rejected an appeal by
Stay informed with free updates Simply sign up to the US foreign policy myFT Digest — delivered directly to your inbox. Those parochial Democrats. Those globalist Republicans. Last week, when US forces struck Houthi rebels in Yemen, some Congressional left-wingers objected to the action itself or to the lack of legislative consent for it, or
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump is expected to win the first ballot of the 2024 presidential race, as voters in Iowa gather on Monday night for caucuses that will set the pace for the Republican campaign for the
Stay informed with free updates Simply sign up to the German economy myFT Digest — delivered directly to your inbox. German output contracted 0.3 per cent last year as high inflation, rising interest rates and elevated energy costs made Europe’s largest economy one of the weakest performers in the world, according to an initial estimate
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Security officials from 83 countries gathered in Davos on Sunday to discuss Ukraine’s demands for ending the war with Russia, in talks marked by rising non-western participation but limited progress towards peace. Held on
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump is the first choice of just under half of likely Republican caucus goers, according to a new poll that underscores the former president’s dominance heading into the Iowa caucuses on Monday. The poll,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. China’s military has vowed to “smash” any Taiwan independence “plots”, sending a stark reminder of its threat to use force against the island just hours before Taiwanese voters head to the polls to elect a
Chesnot | Getty Images The Securities and Exchange Commission pushed for bitcoin ETFs to have a key difference from major stock funds, and that decision’s impact on how the funds trade will only become clear over time. The bitcoin funds that launched on Thursday are using a share redemption process that turns the underlying crypto
Washington state’s rating outlook was revised to positive from stable Thursday by S&P Global Ratings, citing the state’s growing economy and strong reserves. The outlook revision means there is a one-in-three chance the state could have its AA-plus rating upgraded to AAA by S&P over the two-year outlook period, said Oscar Padilla, an S&P director.
California’s budget shortfall is $30 billion less than the $68 billion deficit forecast by the legislative analyst’s office in November, Gov. Gavin Newsom said Wednesday as he unveiled his proposed $291.5 billion budget for fiscal year 2024-25. Even his estimated $37.9 billion deficit will still require some tough choices as Newsom and lawmakers work on
Stay informed with free updates Simply sign up to the Oil myFT Digest — delivered directly to your inbox. Crude oil prices rose on Friday after the US and UK launched air strikes against Yemen-based Houthi rebels whose attacks against ships in the Red Sea threatened the flow of goods through one of the world’s
Marina Wiant has been appointed by State Treasurer Fiona Ma to replace Nancee Robles as executive director of the California Debt Limit Allocation Committee and the California Tax Credit Allocation Committee. Wiant, who started in those posts Wednesday, fills the positions that had been vacant since Robles announced in July that she would be retiring
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. An oil tanker linked to a dispute between Iran and the US has been seized off the coast of Oman, in a raid UK maritime authorities said was carried out by individuals in black military-style
A sharp drop in mortgage interest rates in December may have kickstarted this year’s spring housing market early. Rates are about a full percentage point lower than they were in October, and consumers expect they will fall even more. Optimism about mortgage rates increased sharply in December, according to a monthly consumer survey by Fannie
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