Government Policy

  • 2019-10-09 08:15

    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 07:30

    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 14:33

    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 13:50

    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 05:49

    --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 14:18

    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 14:45

    --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.

  • 2019-07-05 13:34

    By Shen Lu

    WASHINGTON (MNI) - President Donald Trump said Friday that China has taken advantage of the United States in trade, a return to more hostile remarks days before the resumption of talks between the two nations.

    "We've lost our shirts with China, and now China's dying to make a deal. And we're taking, by the way, billions and billions of dollars of tariffs are coming in, and China is paying for it, not our people," Trump said.

    "Right now, we've put very big tariffs on," Trump said, adding China had "broken a deal" in May. "We have a lot more to put on if we want."

    China wasn't the sole focus of Trump's comments on trade. Much of his criticism was aimed at former U.S.

  • 2019-07-01 12:15

    By David Robinson

    LONDON (MNI) - Senior Conservative lawmaker George Young, speaking on behalf of the government in a House of Lords debate today, said that it was not planning to end the issuance of inflation-linked gilts based on the retail price index (RPI).

    Lord Young of Cookham said that the government was working hard on a response, but he heralded the government's answer to one hot issue by ruling out ending RPI-linked gilt issuance.

    The government "has no plans to stop issuing index-linked gilts linked to RPI," Lord Young said.

    He noted that demand for RPI linkers was high from pension funds and insurers and said that the Debt Management Office had to seek value for money.

  • 2019-05-17 00:51

    By Iris Ouyang

    BEIJING (MNI) - China's macro policies to boost the economy will help maintain stability through any escalation of the trade dispute with the U.S., the country's economic planning body said Friday.

    Here are the highlights from Friday's National Development of Reform Commission press briefing in Beijing:

    -The key for China through any trade dispute is to focus on its own business, Meng Wei, NDRC spokesperson said, with measures to ensure stable growth

    -China will continue with current macro, fiscal and monetary policies to help boost the domestic economy, with added focus on consumption in rural areas, the NDRC said.

    -The commission underlined that any fallout from the trade dispute was manageable as China's economy is resilient.

    -The gove