Fri, Apr 19, 2024 4:09 PM
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A Flip by Avya Verma
President Joe Biden said on Wednesday that "xenophobia" from China to Japan and India is hobbling their growth, as he argued that migration has been good for the U.S. economy. "One of the reasons why our economy's growing is because of you and many others. Why? Because we welcome immigrants," Biden said at a Washington fundraising event for his 2024 re-election campaign.
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Financial services secretary Vivek Joshi on Tuesday met private sector general insurance companies and discussed critical issues that have implications for the general insurance sector. The meeting with the General Insurance Council and leaders and CEOs of private sector general insurance companies discussed the concerns of the insurance industry.
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The U.S. Fed held interest rates steady on Wednesday and signaled it is still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings and suggested a possible stall in the movement towards more balance in the economy. It also announced it will scale back the pace at which it is shrinking its balance sheet starting on June 1.
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