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Fed official warns UK tax cuts increase risk of global recession

Fed official warns UK tax cuts increase risk of global recession

The British government’s budget plan has heightened economic uncertainty and raised the chances of a global recession, a senior US Federal Reserve official warned after the pound rose to a record high. Speaking as the pound soared as traders digested British Chancellor Kwasi Kwarteng’s £45billion tax cut package, Atlanta Fed Chairman Raphael Bostic said the …

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Bank managers call for Trump official to be fired amid ethics investigation

Bank managers call for Trump official to be fired amid ethics investigation

MIAMI (AP) — The executive directors of the Inter-American Development Bank voted unanimously Thursday to recommend firing a former Trump official as president of the Washington-based institution, a person familiar with the vote said. The move came after an investigation commissioned by the bank’s board of directors determined that Mauricio Claver-Carone had breached ethics rules …

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