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On Dec. 18, the Federal Reserve made its third consecutive cut of 2024, reducing the federal funds rate by 0.25 percentage points. Yet the Fed also projected a slower pace of cuts in 2025, a move ...
However, under current rules, oil can only be pumped from the reserve at a maximum rate of “4.4 million barrels per day for up to 90 days,” according to the Department of Energy. Student loan ...
The U.S. now exports more petroleum than it imports, but the reserve remains and has been tapped for various reasons, from offsetting the impact of hurricanes and ship-channel closings to raising ...
The Federal government provided $11.2 billion in immediate assistance to the Government of New York City in September 2001, and $10.5 billion in early 2002 for economic development and infrastructure needs. [18] The 9/11 attacks had great impact on small businesses in Lower Manhattan, located near the World Trade Center.
The Biden administration said on Friday it has bought its last batch of oil for the Strategic Petroleum Reserve after selling a record amount from the facility in 2022 to counter fuel prices that ...
Federal offshore areas withdrawn from oil and gas leasing. The United States offshore drilling debate is an ongoing debate in the United States about whether, the extent to which, in which areas, and under what conditions, further offshore drilling should be allowed in U.S.-administered waters.
The dollar has risen by 7.4% in nominal terms, relative to a basket of trading-partner currencies, since 2022, CEA said, citing Federal Reserve data, and the real trade-weighted value of the ...
The 1990 oil price shock occurred in response to the Iraqi invasion of Kuwait on August 2, 1990, [1] Saddam Hussein's second invasion of a fellow OPEC member. Lasting only nine months, the price spike was less extreme and of shorter duration than the previous oil crises of 1973–1974 and 1979–1980, but the spike still contributed to the recession of the early 1990s in the United States. [2]