Warren doesn’t just frighten billionaires – she scares the whole establishment | Robert Reich | Opinion

On Thursday, the New York Times reported on a study showing that Elizabeth Warren’s proposed wealth tax (and presumably Bernie Sanders’ even more ambitious version) would reduce economic growth by nearly 0.2% a year, over the course of a decade. Under the headline “Warren Wealth Tax Could Slow the Economy, Early Analysis Finds”, the Times […]

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Trump promised to shrink the economic trade gap but it’s still growing

Trump promised to shrink the economic trade gap but it’s still growing

The overall US trade deficit widened in the first nine months of 2019 to nearly $500bn (£388bn), a sign that the Trump administration’s approach to trade has so far done little to make a dent in the imbalance. The trade deficit for both goods and services in the first three quarters of the year jumped by 5.4 per cent, […]

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‘I had breakdowns’: recovering from the 2018 government shutdown as another looms | US news

capital & main logo It has been almost a year since Donald Trump shut down part of the US government for 35 days – the longest period in US history – because it wouldn’t fund the border wall he once said Mexico would pay for. But to Oyawele “Oya” Dumas, it could have been yesterday. […]

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If Americans are better off than a decade ago, why doesn’t it feel that way? | US news

capital & main logo Jimmy Wilson, a 49-year-old cook who works at a Detroit bar, was sitting outside on his break and fuming. “This doesn’t affect me at all,” he said, speaking about the televised August Democratic 2020 presidential candidates debate, which had been streaming on the bar’s TVs. “I still have to go to […]

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US economy adds 128,000 jobs in October despite lengthy GM strike | Business

US employers added a solid 128,000 jobs in October, a figure that was held down by a now-settled strike against General Motors that caused several thousand workers to be temporarily counted as unemployed. The labor department says the unemployment rate ticked up from 3.5% to 3.6%, still near a five-decade low. For the second straight […]

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Trump says US-China trade deal is close, but market nosedives | Business

A trade deal between the US and China is imminent and only delayed by the need to find a venue for a signing ceremony, according to Donald Trump. After almost two years of wrangling over US import tariffs on Chinese goods, which sparked a tit-for-tat row between the world’s largest trading nations, the two sides […]

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Federal Reserve cuts US interest rates for third time this year | Business

The US central bank has cut interest rates for the third time this year in an attempt to keep the longest running period of growth in the country’s history continuing into the crucial election year of 2020. But the Federal Reserve put itself on a potential collision course with Donald Trump when it signalled to […]

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US economy expands 1.9 per cent, but slowdown under Trump takes hold

US economy expands 1.9 per cent, but slowdown under Trump takes hold

The US economic growth slowed in the third quarter of the year, giving Donald Trump a headache as he gears up for his 2020 re-election campaign.  Gross Domestic Product (GDP) expanded at an annualised rate of 1.9 per cent growth in the third quarter of the year, the US Commerce Department on Wednesday. That was down marginally from […]

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The 2020 US election hinges on the economy – it’s time to start talking about it | Business

A year from now, the US will elect its next president. The stakes are high and the outcome will reverberate across the world in a number of spheres, not least the economy. Yet, thus far, most discussions of candidates’ economic policy proposals have been based more on feelings or ideology than rigorous analysis. Barring a […]

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Trump’s weaponisation of the dollar could threaten its dominance | Jeffrey Frankel | Business

The language of international monetary policy has turned militaristic. The phrase “currency war” has been popular for a decade and the US government’s more recent “weaponisation” of the dollar is generating controversy. But ironically, a martial approach could end up threatening the US currency’s global dominance. This is a good time to gauge the relative […]

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