on Friday, which had been widely expected to go against Biden, comes just weeks after the White House and congressional Republicans struck a deal to lift the federal debt ceiling that included prohibiting any further extensions of the student debt payment hiatus put in place in early 2020 at the onset of the COVID-19 pandemic. The Education Department last week saidThat means U.S. households who collectively owe $1.
But questions remain about the resilience of consumer spending, a key driver of economic growth, especially with the prospect of more rate rises remaining on the table. Economists at Morgan Stanley, meanwhile, predict that reimposing loan repayments will have a tangible - but modest - impact on growth in the closing months of the year. Unlike Jefferies, the bank does not see a U.S. recession, but agrees personal expenditures will take a hit and the nation's gross domestic product growth is likely to be between 6 and 9 basis points lower than it would otherwise be.
Education Education Latest News, Education Education Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »