The US has slapped new sanctions on eight members of Venezuela's Supreme Court, accusing them of abusing power and damaging their nation's democratic fabric as the Trump administration raises concerns that socialist president Nicolas Maduro is moving toward one-party, authoritarian rule.
The White House made its opening bid for what officials called the “biggest tax cut” in US history — with cuts that would benefit businesses, the middle class and certain high-earning individuals — but left unanswered questions about whether the plan would be paid for, or how.
Goldman Sachs is betting “Mr Market” is wrong in its recession warnings. While sliding stocks, declining long-term bond rates and higher credit yields are sounding the alert, the New York-based bank’s economics team, led by Jan Hatziusis, is more confident about the outlook for the developed world.
Former taoiseach Brian Cowen “already had a preference” for a “broad” bank guarantee before the infamous September 29, 2008, meeting which led to the multi-billion euro deal — and overruled then finance minister Brian Lenihan’s concerns.
Chancellor Angela Merkel’s government should raise infrastructure investments tenfold compared with a blueprint laid out in the 2014-17 budget plan to help euro-region members such as Italy, the International Monetary Fund said.
The United States has moved closer to the possibility of the first-ever default on the government’s debt as Speaker John Boehner adamantly ruled out a House vote on a straightforward bill to boost the borrowing authority without concessions from President Barack Obama.
Federal Reserve Bank of Boston president Eric Rosengren, a consistent backer of record stimulus who votes on policy this year, said the Fed refrained from tapering its bond purchases last month because growth was lower than forecast and fiscal policy posed a risk to the outlook.
President Barack Obama has said his nominee for Federal Reserve chairman will be someone who embraces the central bank’s dual mandate to promote price stability and maximum employment, and he has narrowed his choice “to some extraordinarily qualified candidates”.
President Barack Obama was cutting short his holiday and returning to Washington today as a senior Democrat warned that the US appeared to be heading over the year-end “fiscal cliff” of higher taxes and deep spending cuts that could spin the still-fragile economy back into a recession.
President Barack Obama and members of Congress prepared for one last try to avert across-the-board tax increases and spending cuts known as the fiscal cliff, as the US Treasury Department warned that it will begin taking action to prevent the government from hitting its debt limit.