Don’t expect big interest rate hikes, Fed chief Powell says
Federal Reserve chief Jerome Powell said Wednesday he regards current interest rates at nearly a neutral level.
Economy
House lawmakers introduce first bipartisan carbon tax bill in a decade
A small group of Democratic and Republican House lawmakers introduced Tuesday night the first bipartisan carbon tax legislation in nearly a decade as a way to combat climate change.
European politicians call for new sanctions on Russia over Ukraine
Several senior European politicians on Tuesday raised the possibility of new sanctions against Russia to punish it for capturing three Ukrainian vessels at sea, an incident the West fears could ignite a wider conflict.
$9 trillion corporate debt bomb is ‘bubbling’ in the US economy
At first glance, it looks like a $9 trillion time bomb is ready to detonate, a corporate debt load that has escalated thanks to easy borrowing terms and a seemingly endless thirst from investors.
Trump stands behind Saudi Arabia despite murder of Khashoggi
President Donald Trump vowed on Tuesday to remain a ‘steadfast partner’ of Saudi Arabia despite saying that Saudi Crown Prince Mohammed bin Salman may have known about the plan to murder dissident journalist Jamal Khashoggi last month.
China calls for open world economy but work remains on landmark trade pact
China will further open its economy in the face of rising protectionism, Premier Li Keqiang said as he arrived in Singapore on Monday for meetings with Asia-Pacific leaders that will focus on speeding up work on a major new trade pact.
Iran President Warns of ‘War’ as US Sanctions Resume
Iran greeted the re-imposition of U.S. sanctions on Monday with air defense drills and an acknowledgement from President Hassan Rouhani the nation faces a ‘war situation,’ raising Mideast tensions as America’s maximalist approach to the Islamic Republic takes hold.
Netanyahu praises Trump for Iran sanctions renewal: ‘We’re already seeing results’
Prime Minister Benjamin Netanyahu on Saturday praised US President Donald Trump for reenacting all sanctions on Iran that had been lifted under the 2015 nuclear deal.
How Evangelical Christians Helped Elect Brazil’s New President
Brazil has elected far-right Congressman Jair Bolsonaro has their new president and evangelical Christians played a major role in his victory.
Trump warns voters of economic setback if Democrats take Congress
The sizzling economy underpins President Trump’s final blitz for Republicans in the midterms, with dire warnings that the jobs boom and higher wages will slip away if Democrats seize Congress.
Brazil elects right-wing candidate Jair Bolsonaro as president
Brazil’s Supreme Electoral Tribunal declared Sunday that far-right congressman Jair Bolsonaro, a champion of traditional Brazilian values, has won the country’s election for the presidency of Latin America’s biggest country and the world’s fourth-largest democracy.
GOP warns economy will tank if Dems win
Republicans are turning positive economic news into attacks on Democratic candidates, warning of dire consequences if the minority party wins control of Congress in the midterm elections.
U.S. tops World Economic Forum’s ‘Global Competitiveness Report’ for first time in a decade
Organizers of the annual Davos conference ranked the United States first in their ranking of the world’s most competitive economies for the first time in a decade Wednesday, saying the No. 1 spot reflects a new methodology and long-term factors more than recent policies of the Trump administration.
Seeds of next global financial crisis being sown, top officials warn
Rising US interest rates, tanking emerging market currencies and a bitter US-China trade spat could push the world towards its next financial crisis but there is still time to avert disaster, global finance chiefs have said.
Britain sees Brexit progress, again calls on EU to ‘meet us halfway’
Brexit minister Dominic Raab voiced confidence on Tuesday that Britain and the European Union would make progress on their divorce at a summit next week, but again asked the bloc to meet London ‘halfway’ on the most difficult areas.
Study: Economic Boom Largely Ignored as TV’s Trump Coverage Hits 92% Negative
In four weeks, Americans go to the polls for the midterm elections that the news media are casting as a referendum on the Trump presidency. Over the summer, the broadcast networks have continued to pound Donald Trump and his team with the most hostile coverage of a President in TV news history — 92 percent negative, vs. just eight percent positive.
IMF downgrades global growth outlook, places responsibility on US-China trade tensions
The IMF has cut its global economic forecast for 2018 and 2019, citing above all rising import tariffs between the US and China. A fall in trade volumes and manufacturing orders could hit Germany particularly hard.
Chinese stocks fall almost 5% in market bloodbath as investors digest a week of bad news in a single day
Chinese stocks took a hammering Monday as traders returned to work after a weeklong holiday in the world’s second-largest economy.
Iran, US in tense wait for world court sanctions ruling
The International Court of Justice will hand down an eagerly awaited decision this week on Iran’s demand for the suspension of debilitating nuclear-related sanctions imposed by the United States.
Iran video threatens missile strikes on UAE, Saudi Arabia
An Iranian media outlet close to the hard-line Revolutionary Guard published a video Tuesday threatening missile attacks on the capitals of Saudi Arabia and the United Arab Emirates, further raising tensions after a weekend militant attack on an Iranian military parade.