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US President Joe Biden announces that his top economic advisor is set to leave the White House today. Indeed, Gene Sperling is reportedly leaving the administration in order to help Vice President Kamala Harris’ presidential campaign. Sperling is looking to help Harris overcome Donald Trump heading into the November elections. The move comes at a rather surprising time. Concerns over a potential recession in the United States have driven panic in global markets. Both Taiwan’s and Japan’s stock markets have suffered their largest losses since 1967 and 1987, respectively. JUST IN: President Biden's senior economic advisor, Gene Sperling, to leave the White House today. pic.twitter.com/WoVPyFa9LX — Watcher.Guru (@WatcherGuru) August 5, 2024 Also Read: U.S. Dollar Rises After Joe Biden Ends Presidential Campaign White House Loses Top Economic Advisor Amid Market Crash The first Monday in August has arrived with turmoil for the global finance sector. Stock market...

Treasury Seeks Delay In Payments With less than two weeks remaining before the looming deadline, the White House is urgently seeking avenues to buy more time for negotiations between President Biden and House Speaker Kevin McCarthy to raise the federal debt ceiling. In the early part of June, the federal government faces the possibility of missing a payment for the first time in modern history if additional borrowing, increased tax collection, or spending reductions are not implemented. advertisement Read More: Stocks And Crypto May Crash Within Weeks Of Debt-Ceiling Deal; Here’s Why According to reports, Treasury officials have reached out to counterparts in other federal agencies to inquire about the possibility of delaying payments due before early June. However, it is important to note that the Treasury has not requested federal agencies to postpone payments beyond their original due dates. Earlier last week, senior members of the Treasury Departme...