Latest Economic policy News

Wall Street balks as Fed signals party's ending, but is it?

Dec. 02, 2021 13:23 PM EST

NEW YORK (AP) — The Federal Reserve's job, its longest-serving chairman once said, is to “take away the punch bowl just as the party gets going,” and that's exactly the message Wall Street took from comments by current Chair Jerome Powell this week. Stock prices...

Lawmakers reach deal on spending bill, but hurdles remain

Dec. 02, 2021 11:56 AM EST

WASHINGTON (AP) — Congressional leaders reached agreement Thursday on a spending bill that would keep the government running through mid-February, though a temporary federal shutdown was still possible this weekend because some Republican senators are objecting to the Biden administration's...

Ireland: UK-EU deal on Brexit trade spat unlikely this year

Dec. 02, 2021 10:33 AM EST

LONDON (AP) — The British and Irish governments expressed optimism Thursday that a thorny spat between the U.K. and the European Union over Northern Ireland trade can be resolved, but Ireland's top diplomat indicated that negotiations were likely to drag on into next year. ...

US long-term mortgage rates relatively flat this week

Dec. 02, 2021 10:19 AM EST

SILVER SPRING, Md. (AP) — The average interest rate for long-term mortgages in the U.S. remained flat this week, following the Federal Reserve suggesting that it would start tightening credit by raising its benchmark rate. Mortgage buyer Freddie Mac reported Thursday...

Erdogan replaces finance minister as Turkey's lira crashes

Dec. 02, 2021 10:15 AM EST

ANKARA, Turkey (AP) — Turkish President Recep Tayyip Erdogan appointed a new treasury and finance minister Thursday after the previous one stepped down as the country's currency has tumbled to record lows. Erdogan named deputy minister Nureddin Nebati to the post,...

GOP risks government shutdown to fight Biden vaccine mandate

Dec. 01, 2021 22:20 PM EST

WASHINGTON (AP) — The federal government could be heading for a temporary shutdown, with Republicans poised to stall a must-pass funding bill in their effort to force a debate in Congress on rolling back the Biden administration's COVID-19 vaccine mandates for some workers. ...

New Mexico governor seeks pay increase for public schools

Dec. 01, 2021 18:30 PM EST

SANTA FE, N.M. (AP) — Gov. Michelle Lujan Grisham announced Wednesday she will pursue a 7% pay increase for educators and staff at K-12 public schools as well as higher minimum salaries for teachers at various career stages. The proposal would boost salaries for more...

Fed survey finds supply-chain shortages boosting inflation

Dec. 01, 2021 17:18 PM EST

WASHINGTON (AP) — Many parts of the country were hit by supply chain disruptions and labor shortages in November, the Federal Reserve reported Wednesday. In a survey of business conditions around the country, the Fed's 12 regional banks found that the economy continued...

Science report: US should make less plastic to save oceans

Dec. 01, 2021 11:11 AM EST

America needs to rethink and reduce the way it generates plastics because so much of the material is littering the oceans and other waters, the National Academy of Sciences says in a new report. The United States, the world’s top plastics waste producer, generates more...

Asian shares mixed after omicron worries rattle Wall Street

Nov. 30, 2021 22:56 PM EST

TOKYO (AP) — Asian shares were mixed Wednesday amid nervous trading due to worries over the newest coronavirus variant. Japan's benchmark Nikkei 225 was up 0.8% in morning trading to 28,062.99, after gyrating earlier in the session. South Korea's Kospi jumped 1.1% to...