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WASHINGTON | National debt hits new milestone, topping $22 trillion

WASHINGTON (AP) — The national debt has passed a new milestone, topping $22 trillion for the first time. The Treasury Department‘s daily statement showed Tuesday that total outstanding public debt stands at $22.01 trillion. It stood at $19.95 trillion when President Donald Trump took office on Jan. 20, 2017. The debt figure has been accelerating … Continue reading WASHINGTON | National debt hits new milestone, topping $22 trillion

ITTA BENA, Miss. | Fed Chairman Powell doesn’t see elevated recession risks

ITTA BENA, Miss. (AP) — Federal Reserve Chairman Jerome Powell does not feel the probability of a recession “is at all elevated,” and that the country is continuing to see solid economic growth. But in a visit to a historically black university in the Mississippi Delta, Powell says that many rural areas have not benefited … Continue reading ITTA BENA, Miss. | Fed Chairman Powell doesn’t see elevated recession risks

WASHINGTON | Mnuchin: Next round of trade talks this month

WASHINGTON —Jan 11, 2019—Treasury Secretary Steven Mnuchin says the next round of trade negotiations with China will likely occur later this month in Washington. Mnuchin told reporters that Vice Premier Liu He was expected to lead a delegation to Washington “later in the month.” The Treasury secretary says that the partial government shutdown “would have … Continue reading WASHINGTON | Mnuchin: Next round of trade talks this month

WASHINGTON | Fed minutes: Growing risks make rate hike path less clear

WASHINGTON — Federal Reserve officials expressed increasing worries when they met last month, as they grappled with volatile stock markets, trade tensions and uncertain global growth. The threats, they said, made the future path of interest rate hikes “less clear.” According to minutes of the Fed’s December gathering released Wednesday, officials believed that with inflation … Continue reading WASHINGTON | Fed minutes: Growing risks make rate hike path less clear

WASHINGTON | US service firms grew at slower pace in December

WASHINGTON — Jan 07, 2019—U.S. service firms grew in December at the slowest pace in five months, a possible indication that various headwinds from turbulent markets to trade tensions could be having an impact on economic activity. The Institute for Supply Management, which is composed of purchasing managers, reported Monday that its service index fell … Continue reading WASHINGTON | US service firms grew at slower pace in December

WASHINGTON | US economy grew at 3.4 percent rate in third quarter

WASHINGTON  — The U.S. economy expanded at a solid 3.4 percent annual rate in the third quarter, slightly slower than the previous estimate as consumer spending and exports were revised lower. The economy is expected to slow further in the current quarter. The Commerce Department said Friday that growth in the gross domestic product, the … Continue reading WASHINGTON | US economy grew at 3.4 percent rate in third quarter

WASHINGTON | Fed is expected to raise rates while Trump presses criticism

WASHINGTON — The Federal Reserve is expected Wednesday to raise its benchmark rate for a fourth time this year despite President Donald Trump’s repeated assertions that doing so would be a terrible idea. The president fired off two tweets this week objecting to a rate hike. In one of them, he called it “incredible” that … Continue reading WASHINGTON | Fed is expected to raise rates while Trump presses criticism

WASHINGTON | US consumer prices flat in November as energy plunges

WASHINGTON— U.S. consumer prices were unchanged in November, the best performance since prices actually fell eight months ago. The docile inflation reading reflected a big drop in the cost of gasoline and other energy products. The Labor Department said Wednesday that the unchanged inflation reading last month followed a 0.3 percent jump in prices in … Continue reading WASHINGTON | US consumer prices flat in November as energy plunges