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What is ‘X-date,’ and what happens if US defaults on debt?
A prolonged default could be devastating, with crashing markets and panic-driven layoffs if confidence in a cornerstone of the global economy ends.
By Josh Boak
Latest "federal reserve" stories
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Does time spent at Federal Reserve count for CSRS retirement?
The Civil Service Retirement System is a defined benefit, contributory retirement system
By Reg Jones
States banking big bucks as Fed fights inflation
States ranging from Democratic-led Massachusetts to Republican-led Texas as well as politically divided Minnesota all are sitting on large surpluses.
Federal contract workers call for wages to keep pace with inflation
Employees working for the largest federal food service contractor are raising concerns about lagging wages to Congress.
Federal Reserve tackles inflation with most diverse leadership ever
There are more female, Black and openly gay officials contributing to the central bank’s interest-rate decisions than at any time in its 109-year history.
Biden to keep Powell as Fed chair, Brainard gets vice chair
President Joe Biden announced Monday, Nov. 22, 2021 that he's nominating Jerome Powell for a second term as Federal Reserve chair.
By Christopher S. Rugaber