US President Joe Biden (File image: Reuters) As Americans deal with the highest inflation in decades, President Joe Biden has declared that combating rising costs is a priority for his administration. Lately, he has cited one policy in particular as an inflation-fighting tool: shrinking the nation’s budget deficit. “Bringing down the deficit is one way to ease inflationary pressures in an economy,” Biden said this month. “We reduce federal borrowing and we help combat inflation.” The federal budget deficit — the gap between what the government spends and the tax revenue it takes in — remains large. But Biden has pointed out that it shrank by $350 billion during his first year in office and is expected to fall more than $1 trillion by October, the end of this federal budget year. Rather than stemming from any recent budget measures by his administration or Congress, the deficit reduction largely reflects the rise in tax receipts from strong economic growth and the winding … [Read more...] about Biden’s curious talking point: Lower deficits offer inflation relief
Banks to raise interest rates
Leading executives share 16 tips that nurture corporate finance
The success of a well-run business is not determined by its financial performance levels alone, and that is why leaders need to take a holistic approach and consider how each area of the establishment and decisions made about specific contributions to the company can build it up or weigh it down. advertisement advertisement As you work towards achieving your financial goals, it’s also important to find the right balance and prioritize how to maintain a steady cash flow and make wise choices about how and where to invest your time and money to elevate the organization. Below are 16 members of Fast Company Executive Board to share some of the best practices they’ve received about how to manage their company finances. 1. DEVELOP A LONG-TERM PERSPECTIVE. advertisement As Warren Buffet says: “Think long-term.” As a manager, you have to live months or years ahead of where your company is now. Ask where you want to be in a year and invest … [Read more...] about Leading executives share 16 tips that nurture corporate finance
Crude hovers around $110, India has a lot to worry about
Representative image Oil prices continue to surge over fears of supply disruption as Russia faced collective sanctions from the US and allies following its invasions of Ukraine. On March 2, Brent crude futures rose by as much as $8 and touched $113.02 a barrel, the highest since June 2014, before easing to $111.75, news agency Reuters reported. Such elevated prices have wide ramifications for India, given that about 85 percent of the crude processed by domestic refiners is imported. High prices can put upward pressure on inflation, increase the cost of inputs for various industries, make transportation expensive, raise the import bill and lead to deterioration of the current account. The Economic Survey of 2021-22 had flagged the risk of imported inflation, arising from elevated global energy prices but the Budget for 2022-23 and the Reserve Bank of India’s monetary policy committee have taken a relatively benign view on crude oil prices—they have estimated that it would … [Read more...] about Crude hovers around $110, India has a lot to worry about