The Monday Mix: Oct. 17 – 23, 2022

hand holding a coffee cup and newspaper

Top-of-mind economic news as we start the week:

U.S. industrial production reached its highest level in 14 years in September, according to the Federal Reserve.

The U.S. federal budget deficit is 50% smaller for fiscal year 2022, the biggest annual drop ever, after two years of massive COVID-related spending.

A federal district court temporarily blocked student loan forgiveness; 50% of those eligible — some 22 million Americans — applied in first week.

After six weeks in office, British Prime Minister Liz Truss resigned as her plan for massive tax cuts temporarily sank the pound and U.K. bond prices.

The U.S. Dept. of Energy will award $2.8 billion to projects aiming to strengthen U.S. production of components used in the battery supply chain for electric vehicles and the electric grid.

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