Tag: United States Economy

Tariffs on China Don’t Cover the Costs of Trump’s Trade War

WASHINGTON — President Trump on Monday portrayed America as being on the winning end of his trade war, saying tariffs are punishing China’s economy while generating billions of dollars for the United States, an economic victory that will allow him to continue his fight without domestic harm. “We’ve taken in tens of billions of dollars […]

Read More

People in Coal Country Worry About the Climate, Too

Dwayne Thomas, who is 70 years old and president of his local chapter of the United Mine Workers of America in southwestern Pennsylvania, spent 43 years working in Appalachian coal mines. For generations, in mines and the nearby steel mills that coal made possible, his family, like many others, has relied on jobs in the […]

Read More

As Nations Look to Tax Tech Firms, U.S. Scrambles to Broker a Deal

WASHINGTON — For most of the 21st century, wealthy nations have engaged in a race to the bottom on corporate taxes, cutting rates in an effort to poach business activity across borders. Very quickly, that script has flipped. Developed countries are now moving to impose new taxes on technology companies, like Facebook and Google, that […]

Read More

Why Stocks Are Soaring Amid Rising Economic Fears: ‘There Is No Alternative’

.nyttech-stock-chart { margin-left: auto; margin-right: auto; } .viewport-small .nyttech-stock-chart { max-width: 300px; } .viewport-medium .nyttech-stock-chart { max-width: 630px; } .nyttech-stock-chart img { max-width: 100%; } The S&P 500 Bad news is cheered. Good news makes investors nervous. Welcome to Wall Street. The S&P 500 rose above 3,000 for the first time in its history on […]

Read More

Time for the Fed to Cut Interest Rates

Even as the Federal Reserve has engineered the nation’s recovery from the 2008 financial crisis, Fed officials have lived in fear that too much job growth, too much wage growth — too much prosperity — would spark dangerous inflation. That is one reason there has not been enough job growth, wage growth or prosperity. In […]

Read More

S&P 500 Touches 3,000 as Stock Rally Powers On

The stock market hit a new high in its decade-long rally on Wednesday, as the benchmark S&P 500 stock index traded above 3,000 for the first time. Investors are cheering the potential for an interest-rate cut, which would make stocks more appealing. In prepared testimony before Congress on Wednesday, Jerome H. Powell, the Federal Reserve […]

Read More

Fed Chair Powell Signals Openness to Rate Cut and Stock Market Rallies

WASHINGTON — Federal Reserve Chair Jerome H. Powell signaled that an interest-rate cut may come soon, sending stocks to a new high as the benchmark S&P 500 stock index traded above 3,000 for the first time. Mr. Powell, testifying before the House Financial Services Committee, highlighted continuing risks to the United States economy, including trade […]

Read More

Fed Chair Powell Signals Openness to Rate Cut by Underlining Risks

WASHINGTON — Jerome H. Powell, the Federal Reserve chair, highlighted continuing risks to the United States economy in prepared testimony to lawmakers on Wednesday, the latest signal that an interest-rate cut may come soon. Fed officials said in June that they would monitor incoming data, including the impact of President Trump’s trade war, and act […]

Read More

Trump Administration Will Allow Some Companies to Sell to Huawei

WASHINGTON — The Trump administration is following through with plans to allow American companies to continue doing business with Huawei, the Chinese telecom equipment giant, just weeks after placing the company on a Commerce Department blacklist. On Tuesday, Commerce Secretary Wilbur Ross said the administration will issue licenses for American companies that want to do […]

Read More

Trump Dealt the Fed a Losing Hand. Now It’s Powell’s Play.

WASHINGTON — The Federal Reserve’s meeting this month was never going to be an easy one given that officials remain split over when — or whether — to cut interest rates. The last few weeks could set the Fed up for an even more difficult call. President Trump has put the Fed under a microscope, […]

Read More

Global Recession Risks Are Up, and Central Banks Aren’t Ready

Central bankers have a favorite mantra: Patch the roof while the sun is shining. But 10 years after the Federal Reserve worked alongside the European Central Bank and the Bank of Japan to bring the global economy back from the brink, their ability to prevent the next downturn is limited. Whether the world’s central banks […]

Read More

Trade War May Be Slowing Business Spending and Factories, Fed Says

WASHINGTON — Federal Reserve officials worry that the uncertainty caused by the trade war between the United States and China could be constraining business spending and may be contributing to a manufacturing slowdown that is dragging on growth. The concerns were outlined in the Fed’s semiannual Monetary Policy Report, released on Friday as Jerome H. […]

Read More

The Good News: The Job Market Is Solid. The Bad News: The Job Market Is Solid.

The best news to be found in June jobs numbers, released Friday morning, is in what they don’t show. After the May numbers showed a steep pullback in the rate of job creation, there was reason to worry that a turning point for the economy had arrived, and that a major slowdown or even recession […]

Read More

What to Expect From the June Jobs Report

A question has hung over the American economy for the past month: Was the sharp slowdown in job growth in May just another soft patch in a recovery that has set records for its durability? Or was it a warning of more significant trouble? Friday’s jobs report will help provide the answer. Economists expect the […]

Read More

Interest Rates Just Keep Falling. Economic Orthodoxy Is Falling With Them.

ImageTraders at the New York Stock Exchange. Recent movements in bond markets suggest that very low inflation is likely to be the norm indefinitely, despite the low jobless rate.CreditBryan R. Smith/Agence France-Presse — Getty Images American borrowing costs keep plunging, and that is signaling something important: Some of the basic assumptions of the most influential […]

Read More

Trump Is Losing His Trade Wars

Donald Trump’s declaration that “trade wars are good, and easy to win” will surely go down in the history books as a classic utterance — but not in a good way. Instead it will go alongside Dick Cheney’s prediction, on the eve of the Iraq war, that “we will, in fact, be welcomed as liberators.” […]

Read More

Lagarde Departure Stirs Succession Speculation at I.M.F.

WASHINGTON — With Christine Lagarde, the current leader of the International Monetary Fund, poised to become the next president of the European Central Bank, the big questions on Wednesday were who would succeed her and whether the United States would break with tradition and try to install an American in the post. On Tuesday, European […]

Read More

Is Biden Doomed?

Listen and subscribe to our podcast from your mobile device: Apple Podcasts | Spotify | Google Play | RadioPublic | Stitcher Was Kamala Harris’s debate-stage takedown the beginning of the end for Joe Biden’s front-runner status? This week on “The Argument,” the columnists take stock of the 2020 Democratic primary so far. Biden’s shakiness on […]

Read More

Trump’s Decision to Tap Shelton Creates Political Risk for the Fed

WASHINGTON — On a steamy afternoon in late May, Judy Shelton was camped out in the lobby of the Trump Hotel in Washington, holding court with reporters from her perch on a high-backed couch. She had chosen the location, a symbolic backdrop for a big moment in her career. Her name had surfaced as being […]

Read More