Government Policy

  • 2019-10-11 12:04


    By Evan Ryser

    WASHINGTON (MNI) - The U.S. Treasury Department said on Friday it will seek comments from primary dealers about a potential 20-year bond.

    "As part of the quarterly refunding process, Treasury is asking primary dealers for their views on the likely demand, pricing, liquidity, and ideal structure/auction schedule of a potential 20-year bond," a Treasury official said.

    The Treasury Department is scheduled to make its next quarterly announcement on debt Oct. 30.

    --MNI Washington Bureau; +1 202 371 2121; email: evan.ryser@marketnews.com

    [TOPICS: M$U$$$,M$$FI$,MFU$$$,MGU$$$]

  • 2019-10-10 13:57


    Partial China Deal Could Include October Tariff Delay

    WASHINGTON (MNI) - The United States Chamber of Commerce said the U.S. and China are making progress in trade talks and could be working toward an "early harvest" deal on intellectual property, market access, and agricultural purchases, with the possibility of a currency deal this week.

    "There is even the possibility of a currency agreement this week.

  • 2019-10-09 09:48


    By Brooke Migdon

    WASHINGTON (MNI) - As the U.S. and China prepare for their 13th round of trade talks in Washington Thursday, negotiators on both sides of the table should not expect to gain any significant concessions, former trade advisors told MNI.

    Despite U.S. "wins" in trade deals this year with Japan, Mexico and Canada, the U.S. and China will most likely seek a "mini deal" calling for large-scale purchases of U.S. goods and the end of tariffs on imported Chinese goods, according to experts.

    "It's a mistake for the U.S. to go into these negotiations thinking that China is desperate for a deal. That is just simply not true," former Treasury and World Bank economist David Dollar told MNI.

  • 2019-10-09 09:15


    By Alexandra Kelley

    WASHINGTON (MNI) - U.S. Democrats will support ratifying the trade pact President Donald Trump negotiated with Mexico and Canada in the next few weeks because of stronger labor and environment rules, former Trump staffer and Chairman of the Pass USMCA Coalition Rick Dearborn told MNI.

    Democrats have been waiting on updates regarding labor and environmental protection and enforcement, primarily concerning Mexico, and Dearborn said any revisions included in their counterproposal will include these issues.

  • 2019-10-04 08:30


    Remarks on smaller cities falling behind; no comment on Fed interest rates

    WASHINGTON (MNI) - Boston Fed President Eric Rosengren said new policies must be tried to address economic inequality between different parts of the U.S.

    "The lack of economic progress in many regions of New England, and the country - regions that continue to have significant populations - calls for new solutions," Rosengren Friday said in prepared remarks.

    Rosengren in his prepared remarks was mum on interest rates and monetary policy.

    Economists have traditionally been skeptical about links between geography and inequality, Rosengren said, because people are mobile.

  • 2019-09-19 15:33


    Trade pact with Mexico and Canada will boost U.S. exports

    WASHINGTON (MNI) - Secretary of Agriculture Sonny Purdue urged Congress to ratify the United States-Mexico-Canada Agreement as soon as possible, saying it would help farmers by boosting exports.

    "Support for USMCA crosses political boundaries," Purdue said at a press conference Thursday where he was joined by predecessors Tom Vilsack, Dan Glickman and John Block.

    President Trump's Republican administration has been urging Congress for months to ratify the agreement, with most resistance coming from Democrats. The pact to replace NAFTA has already been approved by Mexico while Canadian leaders have delayed completing the deal to see how fast the U.S. acts.

  • 2019-09-10 14:50


    Senators question whether plan will make mortgages more expensive

    WASHINGTON (MNI) - Senators questioned whether U.S. Treasury Secretary Steven Mnuchin's proposal to overhaul the housing finance system could address affordability concerns, hinting at a roadblock in the Trump administration's bid to privatize Fannie Mae and Freddie Mac.

    Fannie and Freddie back half of the nation's mortgages and have an obligation to provide low-income borrowers with approximately a quarter of the home loans they back. Under the Treasury plan proposed last week, they would pay an annual fee to the government in exchange for loans that are federally guaranteed, reducing the risk of a bailout.

  • 2019-08-14 06:49


    --U.S., Other Sherpas Push For G7 Reassurance As Global Economy Deteriorates

    LONDON (MNI) - French President Emmanuel Macron is pushing for G7 leaders to abandon their customary communique following their summit in Biarritz, France, next week in a bid to try and avoid the embarrassing disputes over wording which pitted U.S. President Donald Trump against the rest of the group's leaders at last year's Charlevoix, Canada, gathering.

    But sources close to France and the EU say that some G7 sherpas, including the U.S.

  • 2019-07-29 15:18


    WASHINGTON (MNI) - The U.S. Treasury Monday estimated it will borrow $433 billion of net marketable debt in the third quarter of 2019, assuming a $350 billion cash balance on September 30.

    Previously, the Treasury estimated it would borrow $160 billion in the quarter, with a $85 billion cash balance at the end of September.

    The larger borrowing estimate was due to "changed in cash balance assumptions," the Treasury said.

    In the second quarter of 2019, Treasury borrowed $40 billion, while the end-of-quarter cash balance was $264 billion.

  • 2019-07-09 15:45


    --Trump adviser makes comments with bilateral negotiations opening this week

    WASHINGTON (MNI) - Donald Trump's main economic adviser said there is no time limit on Chinese trade talks and in the meantime President Xi Jinping must keep a promise to import more American farm products.

    Negotiations must undo two decades of China's unfair practices and the remaining 10% of issues such as alleged technology theft are the most difficult, Larry Kudlow said at a CNBC event Tuesday. Xi must oversee major purchases of U.S. goods such as soybeans, wheat and possibly energy, he said.

    "President Xi is expected we hope, in return for our accommodations, to move immediately, quickly, while the talks are going on, on the agriculture front," Kudlow said.