Latest Fiscal policy News

UK avoids recession but economy growing at near decade lows

Nov. 11, 2019 7:45 AM EST

LONDON (AP) — The British economy avoided falling into recession in the third quarter of the year, but annual growth is running at a near-decade low rate as a result of ongoing uncertainty related to Britain's departure from the European Union and a subdued global backdrop, official figures showed Monday....

UK parties attack rival spending plans in election feud

Nov. 10, 2019 9:11 AM EST

LONDON (AP) — Britain's biggest political parties traded allegations of financial recklessness on Sunday as they vied to win voters' trust on the economy ahead of the country's Dec. 12 election. The main opposition Labour Party accused the governing Conservatives of spreading fake news with an eye-catching...

Election official rejects effort to recall Alaska governor

Nov. 4, 2019 8:22 PM EST

JUNEAU, Alaska (AP) — Supporters of an effort to recall Alaska Gov. Mike Dunleavy vowed to take their fight to court after an election official on Monday rejected their bid to move forward with seeking to oust him from office. Division of Elections Director Gail Fenumiai said she based her decision on...

As economy slows, new ECB head Lagarde faces big challenges

Oct. 31, 2019 10:59 AM EDT

FRANKFURT, Germany (AP) — Europe's economy is losing steam. Top officials at the European Central Bank are at odds over policy. And it's even unclear whether they can do much to help anyway. It adds up to a full in-tray for Christine Lagarde as she takes over as ECB president on Friday. The former head of...

China pledges support for private market, no stimulus plans

Oct. 31, 2019 7:09 AM EDT

BEIJING (AP) — China's leaders affirmed support Thursday for private business within its state-dominated economy but gave no sign of initiatives to boost sagging growth following a planning meeting. The annual gathering of the Communist Party's Central Committee came as companies and investors are watching...

US economy grows at modest 1.9% rate in third quarter

Oct. 30, 2019 4:43 PM EDT

WASHINGTON (AP) — The U.S. economy slowed to a modest growth rate of 1.9% in the summer as consumer spending downshifted and businesses continued to trim their investments in response to trade war uncertainty and a weakening global economy. The Commerce Department reported Wednesday that the July-September...

Trump's Rust Belt revival is fading. Will it matter in 2020?

Oct. 30, 2019 10:01 AM EDT

TOLEDO, Ohio (AP) — President Donald Trump once promised that coal and steel would be the beating heart of a revived U.S. economy — a nostalgic vision that helped carry him to victory three years ago in the industrial Midwest. But a year away from Election Day, that promised renaissance is not...

Draghi stepped in during euro's darkest hour

Oct. 28, 2019 12:32 PM EDT

FRANKFURT, Germany (AP) — Mario Draghi leaves as head of the European Central Bank credited with having rescued the eurozone from disaster with a well-timed phrase and bold action to back up his words. He expanded the bank's arsenal of crisis-fighting tools with new and unconventional policies, measures...

Argentina's center-left Peronists poised to return to power

Oct. 28, 2019 1:56 AM EDT

BUENOS AIRES, Argentina (AP) — Conservative President Mauricio Macri conceded defeat in Argentina's election Sunday night, paving the way for the country's Peronist center-left to return to power under Alberto Fernández as frustrated voters rejected the incumbent's handling of a bruising economic...

US deficit hits nearly $1 trillion. When will it matter?

Oct. 25, 2019 7:08 PM EDT

WASHINGTON (AP) — The Trump administration reported a river of red ink Friday. The federal deficit for the 2019 budget year surged 26% from 2018 to $984.4 billion — its highest point in seven years. The gap is widely expected to top $1 trillion in the current budget year and likely remain there for...