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US Senate officially passes $1 trillion infrastructure bill

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Biden

We’ve been talking about it for months, but the day is finally here

The US Senate has officially passed the $1 trillion dollar infrastructure bill in what is a major win for Biden and the American people.

The bill was first on the list of Biden’s priorities, with Senators voting 69-30 to advance the big spend to the House of Representatives for further consideration.

It’s unclear how the bill will be viewed in the House… with a number of progressive Democrats already flagging that it isn’t progressive enough or as wide-reaching as it should be.

It follows Speaker Nancy Pelosi saying she won’t agree to the trillion-dollar spend until the Senate also passes part two of the infrastructure plan – a $3.5 trillion package.

Regardless, the current bill gaining bipartisan support in the Senate is a significant victory for Biden’s presidency.

In a joint statement, those who led the negotiations say:

“Congress has talked about truly modernizing our nation’s infrastructure for as long as we can remember… the United States Senate delivered so that we can finally give the American people the safe, reliable, and modern infrastructure they deserve”.

The bipartisan bill includes around $550 billion in new spending… which will be invested in infrastructure projects like roads, bridges, broadband, water and rail.

Vice President Kamala Harris says it won’t be the middle class who pay for the package.

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Money

Markets ignore Israeli-Iranian conflict but risks remain high

Markets remain optimistic despite the escalating Israel-Iran conflict, raising concerns of potential complacency among investors.

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Markets remain optimistic despite the escalating Israel-Iran conflict, raising concerns of potential complacency among investors.

In Short:
Market analysts warn that global investors are underestimating the conflict between Israel and Iran, despite resilient stock market gains. Analysts highlight the potential for prolonged conflict and significant impacts on energy markets, cautioning against complacency.

Global investors are currently underestimating the potential impact of the ongoing conflict between Israel and Iran, according to market analysts.

Despite four days of escalating fighting, which has resulted in significant casualties, global stock markets have shown resilience. Stocks in Europe, Asia-Pacific, and the U.S. have all seen gains, indicating a disconnect between market performance and geopolitical developments.

Investment director Russ Mould highlighted the risk of a broader conflict affecting energy markets. He noted that the situation is complex and the ramifications could extend beyond financial concerns.

Heightened risks

Strategist David Roche suggested the conflict may last longer than typical Israeli responses, posing heightened risks. Torbjorn Soltvedt from Verisk Maplecroft expressed that the current situation resembles an open-ended war, with severe implications for the region and global energy markets.

Energy prices have already reacted to the unrest, with crude oil experiencing significant price fluctuations. Analysts caution that a period of calm might lead markets to mistakenly believe in lasting peace, potentially creating buying opportunities in energy assets.

Conversely, some analysts, like Deutsche Bank’s Jim Reid, maintain a more cautious outlook, noting that retaliatory actions between Iran and Israel have yet to escalate dramatically. He indicated that historical patterns suggest a typical market recovery from such shocks.

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Money

Australia’s stalled economy forces businesses to innovate or die

Australia’s economy is slowing with 0.2% GDP growth; experts suggest interest rate cuts, prompting businesses to adapt for growth.

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Australia’s economy is slowing with 0.2% GDP growth; experts suggest interest rate cuts, prompting businesses to adapt for growth.


Australia’s economy is slowing fast, with GDP growth at just 0.2% and output per person in decline. Experts are now predicting steep interest rate cuts to avoid recession.

What can businesses do to adapt and grow in this climate? Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#AustralianEconomy #RBA #InterestRates #BusinessStrategy #EconomicNews #GDP #TickerNews #AustraliaFinance

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World Bank predicts U.S. growth cut by tariffs

World Bank forecasts U.S. growth halving due to tariffs; global economy also faces significant slowdown, especially in exports.

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World Bank forecasts U.S. growth halving due to tariffs; global economy also faces significant slowdown, especially in exports.

In Short:
The World Bank has downgraded U.S. growth projections to 1.4% for 2025 due to President Trump’s tariff policies, warning that increased tariffs could worsen the global economic slowdown. The report highlights a decline in growth for multiple economies, with a particular emphasis on the negative impact on living standards and the need for negotiated trade barriers.

The World Bank has downgraded its growth projections for the U.S. economy, forecasting an increase of just 1.4% in 2025, down from the previous year’s 2.8%. This reduction is attributed to President Trump’s tariff policies, which are anticipated to hamper both U.S. and global growth.

The World Bank’s latest report highlights an expected slowdown in multiple economies, including the eurozone, Japan, and India. Mexico is projected to experience the most significant impact, with growth dropping to 0.2% from 1.5%.

Exacerbate the slowdown

Amid these forecasts, the World Bank warned that a further rise in tariffs could exacerbate the slowdown. If tariffs were raised by an additional 10 percentage points, global growth could plummet to 1.8% this year and 2% in 2026. Such an escalation would lead to reduced trade, declining confidence, and increased market turmoil.

Indermit Gill, the World Bank’s chief economist, noted that if a course correction is not made, the negative effects on living standards could be severe. The Organisation for Economic Cooperation and Development has also voiced concerns about the implications of tariffs, predicting a U.S. growth rate of 1.6% with inflation approaching 4%.

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