The US hit the debt ceiling of $31.4 trillion on January 19 and as early as June 1, the US government may run out of money to pay its bills if Congress does not raise or suspend the debt ceiling. US treasury secretary Janet Yellen reaffirmed that defaulting on the US debt obligation would be a “catastrophe” and would put into question Washington’s “global economic leadership”. The debt ceiling refers to the maximum amount of money the government can borrow to meet its financial obligations.
Hackers seem to have acquired a new heft and respect even from the State actors. Hackathons are conducted to crack the codes. Friends spy not only on enemies and adversaries but also on friends, proving that there are no permanent friends or enemies but interests. Any leaks, therefore, cause international embarrassment and can make friendly leaders even more nervous as many understandings and assessments are made and shared even at the highest level in great confidence.
Tanking stock markets may not be the best background in which to discuss curbing portfolio inflows into India. But to insulate Indian policymaking from the fickle twists and turns of the US Fed and regain monetary autonomy, India must impose capital controls on short-term portfolio flows.
Trump was big loser in US midterms, but real winner was hypocrisy
Harsh V Pant Prime Minister (PM) Narendra Modi has embarked on his first foreign tour in six months to engage directly with the Joe Biden administration in the United States (US). Given the trajectory of India-US ties in recent decades,…