Latest Economic policy News

Asian shares mixed after China cuts key rate, Japan GDP up

Aug. 15, 2022 02:25 AM EDT

BANGKOK (AP) — Shares were mixed in Asia on Monday after China's central bank cut a key interest rate and Japan reported its economy picked up momentum in the last quarter. Tokyo and Sydney advanced while Hong Kong, Shanghai and Bangkok fell. U.S. futures edged lower early Monday,...

China cuts interest rate to shore up sagging economy

Aug. 15, 2022 01:37 AM EDT

BEIJING (AP) — China’s central bank trimmed a key interest rate Monday to shore up sagging economic growth at a politically sensitive time when President Xi Jinping is trying to extend his hold on power. The decision suggested Beijing is temporarily setting aside worries over...

Climate bill: Could coal communities shift to nuclear?

Aug. 13, 2022 13:20 PM EDT

PROVIDENCE, R.I. (AP) — A major economic bill headed to the president has “game-changing” incentives for the nuclear energy industry, experts say, and those tax credits are even more substantial if a facility is sited in a community where a coal plant is closing. The...

In Biden's big bill: Climate, health care, deficit reduction

Aug. 12, 2022 19:27 PM EDT

WASHINGTON (AP) — The biggest investment ever in the U.S. to fight climate change. A hard-fought cap on out-of-pocket prescription drug costs for Medicare recipients. A new corporate minimum tax to ensure big businesses pay their share. And billions left over to pay down federal...

Inflation Reduction Act may have little impact on inflation

Aug. 12, 2022 18:08 PM EDT

WASHINGTON (AP) — With inflation raging near its highest level in four decades, the House on Friday gave final approval to President Joe Biden's landmark Inflation Reduction Act. Its title raises a tantalizing question: Will the measure actually tame the price spikes that have inflicted hardships...

Wall Street extends winning streak to 4th week

Aug. 12, 2022 17:00 PM EDT

Wall Street capped a choppy week of trading with a broad stock market rally Friday, as the S&P 500 notched its fourth consecutive weekly gain. The benchmark index closed 1.7% higher, for a 3.3% weekly gain. The S&P 500 hadn't posted such a good stretch since November. ...

Senate climate bill has West Virginia written all over it

Aug. 12, 2022 13:08 PM EDT

CHARLESTON, W.Va. (AP) — The sprawling economic package passed by the U.S. Senate this week has a certain West Virginia flavor. The package, passed with no Republican votes, could be read largely as an effort to help West Virginia look to the future without turning away entirely...

Latvia, Estonia leave China-backed East Europe forum

Aug. 12, 2022 12:15 PM EDT

BEIJING (AP) — Latvia and Estonia say they have left a Chinese-backed forum aimed at boosting relations with Eastern European countries, in what appears to be a new setback for China's increasingly assertive diplomacy. The move follows China’s boosting of its relations with...

Asian shares mixed after new signs of cooling inflation

Aug. 12, 2022 00:47 AM EDT

BANGKOK (AP) — Shares were mixed Friday in Asia after a muddled day on Wall Street, where benchmarks meandered following another encouraging report about inflation. Tokyo’s Nikkei 225 surged 2.5%, catching up on gains after being closed Thursday for a holiday. Hong Kong and...

Sweeping climate bill pushes American energy to go green

Aug. 11, 2022 20:37 PM EDT

WASHINGTON (AP) — After decades of inaction in the face of escalating natural disasters and sustained global warming, Congress hopes to make clean energy so cheap in all aspects of life that it’s nearly irresistible. The House is poised to pass a transformative bill Friday that would provide...