The world went on a debt binge last year. There could be a nasty hangover
CNN
Desperate to save their economies from complete collapse, governments borrowed unprecedented amounts of money on the cheap to support workers and businesses during the pandemic. Now, with recovery in sight, a big risk looms: interest payments.
Spurred on by rock-bottom rates, governments issued $16.3 trillion in debt in 2020, and they're expected to borrow another $12.6 trillion this year, according to S&P Global Ratings. But fears are growing that an explosive economic comeback starting this summer could generate inflation, potentially forcing central banks to raise rates sooner than expected. Should that happen, the cost of servicing mountains of sovereign debt will jump, eating up government funds that could otherwise be spent on essential services or rebuilding weakened economies. US lawmakers approved a mammoth $1.9 trillion stimulus package on Wednesday that could send prices higher and increase pressure on the Federal Reserve.
Jeffrey Epstein’s longtime employee and attorney Darren Indyke testified on Thursday that he “had no knowledge whatsoever” of the convicted sex offender’s wrongdoing and rejected “any suggestion” he assisted or facilitated his former boss’ crimes.
Democratic Sen. John Fetterman cast the deciding vote Thursday to advance Markwayne Mullin’s nomination to serve as US Department of Homeland Security secretary, crossing party lines to send President Donald Trump’s nominee to the full Senate for consideration.
A US F-35 fighter jet made an emergency landing at US air base in the Middle East after it was struck by what is believed to be Iranian fire, according to two sources familiar with the matter.
In 2025 a record number of more than 22,000 Cubans arrived in Uruguay, according to to the National Migration Agency. CNN’s Dario Klein reports.
For over a month, Transportation Security Administration employees have been showing up to work at US airports without getting paid.
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Both President Donald Trump and first lady Melania Trump have encouraged Susie Wiles to take the time she needs away from the White House to deal with her treatment, but Wiles argued she does not plan to do so, people familiar said.
A transparency law passed by Congress has forced the release of more Epstein files than ever before, but some lawmakers and victims are exploring ways to push the Justice Department to disclose even more information from the voluminous trove that’s being withheld.
Former US National Counterterrorism Center Director Joe Kent sat Wednesday for an extensive interview with former Fox News host and right-wing podcaster Tucker Carlson, his first public comments since he resigned from his post, citing concerns about the war with Iran.
When Attorney General Pam Bondi and Deputy Attorney General Todd Blanche arrived on Capitol Hill Wednesday afternoon, they hoped to boost members’ confidence on their handling of the Jeffrey Epstein investigation. Within half an hour, Democratic lawmakers had walked out.
Cuba is going dark under US pressure. How the crisis unfolded and why its troubles are far from over
Almost three months after the US effectively imposed an oil blockade on Cuba that worsened its energy crunch, nearly every aspect of Cuban society has been feeling the strain.
The Department of Homeland Security has been ensnared by a partial government shutdown as Congress did not act to fund the agency by the end of Friday. But nearly all DHS workers will remain on the job — even if many won’t get paid until the lapse ends — and the public probably won’t notice much of a change.
The USS Gerald R. Ford aircraft carrier is moving away from operations tied to the Iran war and sailing to the US Navy’s base in Crete for repairs after a fire broke out in the ship’s laundry area last week, a US official said.