House Republicans have opened a probe into the Federal Emergency Management Agency’s (FEMA) Emergency Food and Shelter Program (EFSP) due to allegations that funds are being illegally used to facilitate illegal immigration. The investigation is being spearheaded by House Committee on Oversight and Accountability Chairman James Comer (R-Ky.), Subcommittee on National Security, the Border, and…
FEMA’s Emergency Food and Shelter Program Faces GOP Scrutiny
May 15, 2023
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Microsoft Wins EU Antitrust Approval for Activision Deal
May 15, 2023
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The European Union (EU) gave its approval to Microsoft’s $69 billion acquisition of gaming giant Activision Blizzard. The decision comes just weeks after the United Kingdom’s merger regulator stunned the gaming industry by vetoing the deal. The EU’s analysis indicated that the acquisition would not harm competition, especially as Microsoft has made a commitment to…
Russia Strikes Ukrainian Arms Depot, Prompting Speculation of Possible Fallout
May 15, 2023
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Moscow says its forces have destroyed a large munitions depot in Ukraine’s western city of Khmelnytskyi. “One AFU [Armed Forces of Ukraine] ammunition depot has been destroyed close to Khmelnytskyi,” the Russian Defense Ministry stated in its daily briefing for May 14. Khmelnytskyi, the target of Russian strikes in February, is located roughly 170 miles…
Manufacturing Levels Plummet to 2023 Lows, Shatter Expectations
Manufacturing activity in New York State fell sharply in May 2023, according to the Empire State Manufacturing Survey released by the Federal Reserve Bank of New York. The headline general business conditions index plunged 43 points, to -31.8, drastically falling below the expected level of -2.5. The survey reveals that new orders and shipments also…
Manufacturing Levels in New York State Plummet to 2023 Lows, Shatter Expectations
Manufacturing activity in New York State fell sharply in May 2023, according to the Empire State Manufacturing Survey released by the Federal Reserve Bank of New York. The headline general business conditions index plunged 43 points, to -31.8, drastically falling below the expected level of -2.5. The survey reveals that new orders and shipments also…
Manufacturing Levels in New York State Plummet to 2023 Lows, Far Below Expectations
Manufacturing activity in New York State fell sharply in May 2023, according to the Empire State Manufacturing Survey released by the Federal Reserve Bank of New York. The headline general business conditions index plunged 43 points, to –31.8, drastically falling below the expected level of –2.5. The survey reveals that new orders and shipments also…
Fed Report Shows Record-High Annual Increase in Credit-Card Balances
May 15, 2023
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Americans find themselves increasingly burdened by credit-card debt as the relentless grip of chronic inflation tightens its hold on the cost of essential goods. The Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit was just released, showing a record high 17 percent year-over-year increase in credit-card balances during the first quarter…
US Credit Card Debt Hits a Record High of Nearly $1 Trillion
May 15, 2023
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Americans find themselves increasingly burdened by credit-card debt as the relentless grip of chronic inflation tightens its hold on the cost of essential goods. The Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit was just released, showing a record-high 17 percent year-over-year increase in credit-card balances during the first quarter of…
US Credit Card Debt Holds at Record High of Nearly $1 Trillion
May 15, 2023
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U.S. credit card balances failed to decline in the first three months of 2023 as Americans find themselves increasingly burdened by the relentless grip of chronic inflation. Total credit card debt stood at $986 billion in the first quarter, according to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit…
Top Republican Demands Transcribed Interviews With State Department Officials on ‘Chaotic’ Afghanistan Withdrawal
The House Foreign Affairs Committee has requested transcribed interviews with five current and former State Department officials regarding the Biden administration’s withdrawal from Afghanistan. In his May 14 press release, Committee Chairman Michael McCaul (R-Texas) announced his panel’s request for on-the-record interviews, which he asked that the witnesses arrange by May 22. Interviews were requested…
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