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China’s navy showed off its J-15T fighter jet at the 2024 Zhuhai Air Show on Nov. 12, 2024. Nurphoto | Nurphoto | Getty Images China on Wednesday increased its defense spending by 7.2% this year, the same growth rate as in the prior two years, as Beijing seeks to “firmly safeguard” its national security. In…

Pictured here is a residential complex under construction in Hangzhou, China, on Dec. 16, 2024. Nurphoto | Nurphoto | Getty Images BEIJING — China on Wednesday announced plans to raise its fiscal deficit to “around 4%” of gross domestic product, a rare increase that marks a meaningful shift in policy. The target was confirmed in…

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FILE PHOTO: Office of Management and Budget (OMB) Acting Director Russell Vought testifies before House Budget Committee on 2020 Budget on Capitol Hill in Washington, U.S., March 12, 2019.  Yuri Gripas | Reuters The Consumer Financial Protection Bureau on Tuesday dismissed its lawsuit against the operator of the Zelle payments network and the three U.S. banks…

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Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. Aly Song | Reuters BEIJING — China “firmly rejects” additional U.S. tariffs on Chinese goods and will take countermeasures, the Ministry of Commerce said in a statement Tuesday. The duties will…

Alberto Musalem, President and CEO of the Federal Reserve Bank of St. Louis, speaks to the Economic Club of New York, in New York City, U.S., Feb. 20, 2025. Brendan McDermid | Reuters WASHINGTON — The risks for higher inflation are on the rise, St. Louis Federal Reserve President Alberto Musalem said Monday. During a…