Latest Economic policy News

President Donald Trump speaks at a campaign rally Friday, Oct. 30, 2020, in Rochester, Minn. (AP Photo/Bruce Kluckhohn)

Expect a lot more of the same if Trump wins a second term

Oct. 31, 2020 12:18 PM EDT

Expect to see a lot more of the same if there's a second Trump administration. President Donald Trump has consistently pointed to tax cuts and regulatory relief as key successes of his first four years in office. He has repeatedly pushed for the end of the Obama-era health law but has yet to deliver a plan to...

Democratic presidential candidate former Vice President Joe Biden holds his face mask during a rally at the Minnesota State Fairgrounds in St. Paul, Minn., Friday, Oct. 30, 2020. (AP Photo/Andrew Harnik)

Biden looks to restore, expand Obama administration policies

Oct. 31, 2020 6:59 AM EDT

Stop and reverse. Restore and expand. Joe Biden is promising to take the country on a very different path from what it has seen over the past four years under President Donald Trump, on issues ranging from the coronavirus and health care to the environment, education and more. The Democratic presidential nominee...

FILE - In this 2015 file photo, FirstEnergy Corp. President and CEO Charles

Ohio utility at center of $60 million bribery case fires CEO

Oct. 30, 2020 4:50 PM EDT

TOLEDO, Ohio (AP) — A power company under investigation for its role in an alleged $60 million bribery scheme involving one of Ohio’s most powerful politicians fired its chief executive following an internal review. FirstEnergy Corp. said its investigation found that CEO Chuck Jones and two other...

A passer-by walks past a store closing sign, right, in the window of a department store, Tuesday, Oct. 27, 2020, in Boston.  Americans may feel whiplashed by a report Thursday, Oct. 29,  on the economy's growth this summer, when an explosive rebound followed an epic collapse.  The government will likely estimate that the economy grew faster on an annualized basis last quarter than in any such period since record-keeping began in 1947.(AP Photo/Steven Senne)

US consumer spending rose a moderate 1.4% in September

Oct. 30, 2020 1:54 PM EDT

WASHINGTON (AP) — U.S. consumers increased their spending by 1.4% in September, a modest gain but far less than the big increases of late spring, adding to concerns that Americans remain cautious with the viral pandemic resurging across the country and impeding the economy. The September gain marked the...

FILE - In this Wednesday, Dec. 4, 2019, file photo, U.S. President Donald Trump, left, and Canadian Prime Minister Justin Trudeau arrive for a round table meeting during a NATO leaders meeting at The Grove hotel and resort in Watford, Hertfordshire, England. Trump spent four years upending seven decades of American trade policy. He started a trade war with China, slammed America’s closest allies by taxing their steel and aluminum and terrified Big Business by threatening to take a wrecking ball to $1.4 trillion in annual trade with Mexico and Canada. (AP Photo/Evan Vucci, File)

Most Canadians hope for Trump defeat after insults, attacks

Oct. 30, 2020 11:22 AM EDT

TORONTO (AP) — Donald Trump called Prime Minister Justin Trudeau “weak” and “dishonest” and attacked Canada's vital trade. He threatened tariffs on cars and imposed them on steel. The unprecedented tone of attacks on America’s closest ally the last four years left a...

President Donald Trump gives a thumbs up after arriving at Pope Army Field for an event with troops at Fort Bragg, Thursday, Oct. 29, 2020, in Pope Field, N.C. (AP Photo/Evan Vucci)

The Latest: Trump meets troops involved in al-Baghdadi raid

Oct. 29, 2020 9:29 PM EDT

WASHINGTON (AP) — The Latest on the presidential campaign (all times local): 9:30 p.m. President Donald Trump quietly met with U.S. Special Forces troops involved in last year’s raid to kill Islamic State leader Abu Bakr al-Baghdadi. Trump flew into Fort Bragg, North Carolina, on Thursday for what...

FILE – This April 4, 2017, file photo shows the entrance to FirstEnergy Corp.'s Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. A nuclear plant bailout law should be repealed immediately, Democratic members of the Ohio House announced Wednesday, July 22, 2020, as a bribery scandal involving one of the state’s most powerful lawmakers unfolded over the law’s passage. (AP Photo/Ron Schwane, File)

2 Ohio political operatives plead guilty in bribery probe

Oct. 29, 2020 4:52 PM EDT

COLUMBUS, Ohio (AP) — Two Ohio political operatives pleaded guilty Thursday to charges that they conspired as part of what another defendant called an “unholy alliance” aimed at bailing out two aging Ohio nuclear power plants, court documents show. Former Republican House Speaker Larry...

FILE - In this Sept. 25, 2020 file photo, a woman shops at a clothing store in New York. The U.S. economy grew at a sizzling 33.1% annual rate in the July-September quarter — by far the largest quarterly gain on record — rebounding from an epic plunge in the spring, when the eruption of the coronavirus closed businesses and threw tens of millions out of work.  (AP Photo/Mark Lennihan, File)

Surge in virus threatens to reverse global economic rebounds

Oct. 29, 2020 2:57 PM EDT

WASHINGTON (AP) — The resurgence of coronavirus cases engulfing the United States and Europe is imperiling economic recoveries on both sides of the Atlantic as millions of individuals and businesses face the prospect of having to hunker down once again. Growing fear of an economic reversal coincided with a...

A man wears a face mask as he passes the London Eye in London, Thursday, Oct. 29, 2020.  The International Monetary Fund has downgraded its growth forecasts for the British economy for this year and next, in its annual assessment published Thursday, following an acceleration in the number of coronavirus infections over the past couple of weeks.(AP Photo/Frank Augstein)

IMF blames resurgent coronavirus for UK growth downgrades

Oct. 29, 2020 2:35 PM EDT

LONDON (AP) — The International Monetary Fund has downgraded its growth forecasts for the British economy for this year and next, following an acceleration in the number of coronavirus infections over the past couple of weeks. In its annual assessment of the British economy published Thursday, the...

FILE - In this Sept. 11, 2020 file photo, European Central Bank (ECB) President Christine Lagarde attends a news conference during the Informal Meeting of Economics and Finance Ministers in Berlin, Germany.   The European Central Bank held off from strengthening its stimulus programs despite growing concern that a renewed surge in COVID-19 cases could stall the economy’s recovery from the deep downturn early this year.  The bank on Thursday, Oct. 29,  made no change to its 1.35 trillion ($1.58 trillion) pandemic emergency bond purchase program, which pumps newly created money into the economy to keep credit flowing to businesses and promote economic activity.   Hannibal Hanschke/Pool Photo via AP, File)

European Central Bank: Just wait until December

Oct. 29, 2020 12:33 PM EDT

FRANKFURT, Germany (AP) — The European Central Bank held off from strengthening its current economic stimulus but its President Christine Lagarde said there was “little doubt” that more action would be coming at its December meeting as surging coronavirus infections and new restrictions on...