Federal deficit rose to $984B in 2019, highest in 7 years: Budget office
The federal deficit rose to $984 billion in fiscal year 2019, the Congressional Budget Office estimated on Monday, an increase of $205 billion.
Economy
Economy added 136,000 jobs in September to bring unemployment to 5-decade low
The U.S. economy added 136,000 jobs in September, and the unemployment rate ticked down to 3.5%, a new 50-year low, according to federal data released Friday.
China shows global military ambition at parade marking 70 years of Communist rule
China’s Communist Party marked 70 years in power Tuesday with a military parade showcasing the country’s global ambitions and advancements in weapons technology.
U.S. consumer spending slows in August; incomes rise
U.S. consumer spending barely rose in August, suggesting that the economy’s main growth engine was slowing after accelerating sharply in the second quarter.
Rouhani claims Trump offered to drop sanctions in exchange for talks
Iranian President Hassan Rouhani said Friday that Trump had offered to drop all sanctions against the Islamic Republic in exchange for talks at the UN General Assembly, a claim Trump later vehemently denied.
Saudi prince: ‘Firm’ action needed against Iran to prevent devastating war
Saudi Arabia’s crown prince said in an interview aired Sunday that war with Iran would devastate the global economy and he prefers a non-military solution to tensions with his regional rival.
US Economy Grew at Modest 2% Rate in Second Quarter
The U.S. economy grew at a modest 2% annual rate in the second quarter, a pace sharply lower than the 3%-plus growth rates seen over the past year. Many analysts believe growth will slow further in coming quarters as global weakness and rising trade tensions exert a toll.
Trump: Mideast understands need for normalizing ties with Israel
U.S. President Donald Trump on Tuesday said there is a growing recognition in Middle East that countries must battle extremism, must have normalized relations between Israel and its neighbors.
Saudi defense ministry: Attacks “unquestionably sponsored by Iran”
The Saudi defense ministry presented evidence Wednesday that Iran was behind an attack over the weekend on its largest oil facility, though it said a launch point had not yet been determined.
Fed cuts interest rates, signals holding pattern for now
The U.S. Federal Reserve cut interest rates again on Wednesday to help sustain a record-long economic expansion but signaled a higher bar to further reductions in borrowing costs, eliciting a fast and sharp rebuke from President Donald Trump.
The European Central Bank cut rates to a surprise record low and launched a sweeping round of stimulus
The European Central Bank on Thursday announced a sweeping round of stimulus for the continent’s slowing economy, cutting interest rates to their lowest ever level and introducing a round of quantitative easing.
US adds new sanctions and reward to further pressure Iran
The Trump administration stepped up pressure on Iran on Wednesday, imposing sanctions on an oil shipping network with ties to Iran’s Revolutionary Guard and offering a reward of up to $15 million for anyone with information that could disrupt its faltering economy even further.
Iran warns EU over nuclear commitments as deadline for further steps looms
Iran said on Monday it would further reduce its commitments under a 2015 nuclear deal if European parties failed to shield Tehran’s economy from sanctions reimposed by the United States after Washington quit the accord last year.
Economy grew at 2.0% in second quarter, revised data show
The U.S. economy grew at a 2.0% annualized rate in the second quarter of 2019, the Bureau of Economic Analysis reported Thursday in a second estimate of gross domestic product.
Trump Previews Trade Talks with China ‘At a Different Level’
US President Trump said Thursday that trade negotiations with China scheduled to occur later in the day would be ‘at a different level,’ according to Fox News Radio.
U.S. economy slowing, but consumers limiting downside
U.S. economic growth slowed in the second quarter, the government confirmed on Thursday, but the strongest consumer spending in 4-1/2 years amid a solid labor market threw cold water on financial market expectations of a recession.
Tehran Not Open to Negotiating, Despite Economic Straits
US President Trump’s ‘maximum pressure policy’ against Iran does not seem to be persuading the Islamic Republic to come to the negotiating table.
‘A Blockbuster Economy’: Despite 500,000 Fewer Jobs and Tariff Trouble
The economy is on everyone’s mind this week as fears about a possible recession continue to capture headlines. Now, the Bureau of Labor Statistics has released some revised employment numbers showing 500,000 fewer jobs were created than initially reported.
Mexico and U.S. reach deal to end tomato tariff dispute
Mexican tomato producers struck a last-minute agreement with the Trump administration to avert an anti-dumping investigation and end a tariff dispute that has rumbled on for months, government officials said on Wednesday.
Trump looking at possible tax cuts amid economic jitters
President Donald Trump said on Tuesday his administration was considering potential tax cuts on wages as well as profits from asset sales, and sought to play down market anxieties that the world’s top economy could be heading for a recession.