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Articles written by Martin Crutsinger

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Q&A: Should anyone worry about a $22 trillion national debt?

WASHINGTON (AP) — The government surpassed a dubious milestone this week: Its debt topped $22 trillion — that's trillion, with a "t'' — for the first time. Piles of federal debt have been growing ever higher for years, fueled by accumulating...

 

National debt hits new milestone, topping $22 trillion

WASHINGTON (AP) — The national debt has passed a new milestone, topping $22 trillion for the first time. The Treasury Department's daily statement showed Tuesday that total outstanding public debt stands at $22.01 trillion. It stood at $19.95...

 

Fed Chairman Powell says prosperity not felt in all areas

ITTA BENA, Miss. (AP) — Federal Reserve Chairman Jerome Powell traveled Tuesday to a historically black university in the Mississippi Delta to deliver a message that the nation's prosperity has not been felt in many such areas around the country....

 

Treasury lifts sanctions against 3 Russian companies

WASHINGTON (AP) — The Treasury Department on Sunday announced it was lifting sanctions on three companies connected to Russian oligarch Oleg Deripaska. The move comes despite an effort in Congress to block the action with many lawmakers concerned...

 

Fed survey finds businesses worried by political uncertainty

WASHINGTON (AP) — The Federal Reserve said Wednesday business contacts in many regions of the country are expressing less optimism amid a host of adverse developments, from plunging stock prices to uncertainty about a widening trade war. In its lat...

 

Worries grow about impact of a prolonged government shutdown

WASHINGTON (AP) — With President Donald Trump warning that it "could be a long time" before the partial shutdown of the government ends, concerns are rising about potential economic damage given that the shutdown is coinciding with other threats....

 

Powell says he would reject any Trump request to resign

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Friday that he will not resign if asked to do so by President Donald Trump, and that he is prepared to be patient in deciding when to raise interest rates again. Both of those messages...

 

Fed lifts rates for 4th time this year but sees fewer hikes

WASHINGTON (AP) — The Federal Reserve raised its key interest rate Wednesday for the fourth time this year to reflect the U.S. economy's continued strength but signaled that it expects to slow its rate hikes next year. Despite the forecast for...

 

Senate confirms Kansas bank regulator Bowman for Fed board

WASHINGTON (AP) — The Senate on Thursday confirmed Michelle Bowman, a Kansas banking regulator, as a member of the Federal Reserve board. Bowman was approved on a 64-34 vote to fill the spot on the seven-member board reserved for someone with...

 

Trump predicts he'll make trade deal with China

WASHINGTON (AP) — President Donald Trump expressed confidence he can reach a deal to end a burgeoning trade war with China, saying he will meet his Chinese counterpart at the Group of 20 meetings in Argentina in about a month. "I think we'll make...

 

US economy grew at strong 3.5 percent rate in Q3

WASHINGTON (AP) — The U.S. economy grew at a robust annual rate of 3.5 percent in the July-September quarter as the strongest burst of consumer spending in nearly four years helped offset a sharp drag from trade. The Commerce Department said...

 

Trump escalates his attacks on Fed: 'My biggest threat'

WASHINGTON (AP) — Stepping up his attacks on the Federal Reserve, President Donald Trump declared Tuesday that the Fed is "my biggest threat" because he thinks it's raising interest rates too quickly. Trump said he doesn't speak with Chairman...

 

Fed raises rates for 3rd time this year with 1 more expected

WASHINGTON (AP) — The Federal Reserve signaled its confidence Wednesday in the U.S. economy by raising a key interest rate for a third time this year, forecasting another rate hike before year's end and predicting that it will continue to tighten...

 

Fed survey finds concerns about rising trade tensions

WASHINGTON (AP) — The Federal Reserve reported Wednesday that its latest survey of business conditions nationwide found rising concerns over the impact Trump administration trade policies could have on the economy. The Fed's 12 regional banks said...

 

US consumer spending up a solid 0.4 percent in July

WASHINGTON (AP) — U.S. consumer spending rose a solid 0.4 percent in July, the sixth straight month of healthy gains. At the same time, a key gauge of inflation posted its sharpest annual gain in six years, likely keeping the Federal Reserve on...

 

US consumer confidence rises to 18-year high

WASHINGTON (AP) — Americans' consumer confidence rose in August to the highest level in nearly 18 years as their assessment of current conditions improved further and their expectations about the future rebounded. The Conference Board reported Tues...

 

Powell signals more hikes ahead if US economy stays strong

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell signaled Friday that he expects the Fed to continue gradually raising interest rates if the U.S. economic expansion remains strong. Powell added that while annual inflation has risen to near...

 

Trump administration considering tax break on capital gains

WASHINGTON (AP) — The Trump administration is studying the idea of implementing a big tax break for wealthy Americans by reducing the taxes levied on capital gains, but no decision has been made yet on whether to proceed. Administration officials...

 

US economy grew at a brisk 4.1 percent rate last quarter

WASHINGTON (AP) — The U.S. economy accelerated last quarter at an annual rate of 4.1 percent, the government estimated Friday, as consumers spent tax-cut money, businesses stepped up investment and exporters rushed to ship their goods ahead of...

 

US wholesale prices shoot up 3.4 percent over past year

WASHINGTON (AP) — U.S. wholesale prices rose 0.3 percent in June, a slight slowing from May. But the 12-month gain was the fastest in more than six years, adding to evidence that inflation is beginning to rise after years of weak price gains. The...

 

Fed raises key rate and sees possible acceleration in hikes

WASHINGTON (AP) — The Federal Reserve took note of a resilient U.S. economy Wednesday by raising its benchmark interest rate for the second time this year and signaling that it may step up its pace of rate increases. The Fed now foresees four rate...

 

Business economists worry about possible recession in 2020

WASHINGTON (AP) — A group of top business economists believes the major tax cuts President Donald Trump pushed through Congress will give a significant boost to economic growth this year and next year. But they worry that by 2020, the country could...

 

Fed minutes: Another rate hike likely 'soon'

WASHINGTON (AP) — Federal Reserve officials earlier this month suggested that another rate hike was on the way soon, while also noting several risks facing the economy, ranging from rising wage pressures to potential harm from the Trump...

 

US, China say Beijing commits to buying more American goods

WASHINGTON (AP) — Just-ended U.S.-China trade talks produced a commitment by Beijing to "significantly increase" its purchases of American goods and services, according to a joint statement Saturday from the rival economic powers trying to lower...

 

Economic talks between US-China result in truce in trade war

WASHINGTON (AP) — The trade war between China and the United States is being put on hold. The economic truce came Sunday after a few days of talks aimed at bringing down America's massive trade deficit with Beijing. Treasury Secretary Steven...

 

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