Articles written by martin crutsinger
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American Airlines extends Boeing plane flight cancellations
WASHINGTON (AP) — American Airlines said Sunday that it will keep the Boeing 737 Max plane off its schedule until Nov. 3, which is two months longer than it had planned. In a statement, American said the action will result in the cancellation of abou...
US budget deficit jumps 23% through June
WASHINGTON (AP) — The U.S. budget deficit increased by $140 billion during the first nine months of this budget year to $747.1 billion as government revenues and spending both hit records. The Treasury Department reported Thursday that the deficit f...
Powell's message to Congress: Rate cut is likely coming soon
WASHINGTON (AP) — Pointing to a weaker global economy, rising trade tensions and chronically low inflation, Chairman Jerome Powell signaled Wednesday that the Federal Reserve is likely to cut interest rates late this month for the first time in a d...
Trump says US should start manipulating the dollar
WASHINGTON (AP) — President Donald Trump on Wednesday accused China and Europe of playing a "big currency manipulation game." He said the United States should match that effort, a move that directly contradicts official U.S. policy not to m...
Trump says he will tap economists for 2 key Fed vacancies
WASHINGTON (AP) — President Donald Trump, who has criticized the Federal Reserve for not cutting interest rates, said Tuesday that he intends to nominate two economists to fill influential positions on the central bank's Board of Governors. Trump s...
US economy grew at solid 3.1% rate in first quarter
WASHINGTON (AP) — The U.S. economy grew at a healthy 3.1% rate in the first three months of this year, but signs are mounting that growth has slowed sharply in the current quarter amid slower global growth and a confidence-shaking trade battle b...
Powell says economy facing growing uncertainties
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Tuesday the outlook for the U.S. economy has become cloudier since early May, with rising uncertainties over trade and global growth causing the central bank to reassess its next move o...
Fed leaves its key rate unchanged but hints of future cuts
WASHINGTON (AP) — The Federal Reserve left its key interest rate unchanged Wednesday but signaled that it's prepared to start cutting rates if needed to protect the U.S. economy from trade conflicts and other threats. The Fed kept its benchmark rate...
Powell hints Fed will cut rates if needed over trade wars
WASHINGTON (AP) — Chairman Jerome Powell said Tuesday that the Federal Reserve is prepared to respond if it decides the Trump administration's trade conflicts are threatening the U.S. economy. Investors read his remarks as a signal that the Fed w...
US does not brand China as currency manipulator
WASHINGTON (AP) — The Trump administration has again decided not to label China or any other country as a currency manipulator. But in a report to Congress on Tuesday, the administration is keeping China on a list of countries whose trade s...
US government records $160.3 billion April surplus
WASHINGTON (AP) — The federal government recorded a $160.3 billion surplus in April as revenues for the month jumped to an all-time high. But even with a flood of tax receipts, the deficit so far this year is running 37.7% higher than a year ago. T...
Fed signals neither a rate hike nor a cut is likely soon
WASHINGTON (AP) — The Federal Reserve left its key interest rate unchanged Wednesday and signaled that it's unlikely to either raise or cut rates in coming months amid signs of renewed economic health but unusually low inflation. The Fed left its b...
US economy grew at strong 3.2% rate in first quarter
WASHINGTON (AP) — The U.S. economy grew at a solid 3.2% annual rate in the first three months of the year, a far better outcome than expected, overcoming a host of headwinds including global weakness, rising trade tensions and a partial government s...
Global finance officials pledge to tackle economic slowdown
WASHINGTON (AP) — Global finance officials are pledging closer cooperation in efforts to lift the world economy out its current slowdown, but tensions persist between the United States and other nations over trade and other issues. Officials w...
Leading finance officials acknowledge global slowdown
WASHINGTON (AP) — Finance officials from the world's major powers acknowledged Friday that the global economy is in a slowdown, but they forecast that growth will pick up by the second half of this year, thanks to interest-rate policies from the F...
Trump to nominate conservative Stephen Moore for Fed board
WASHINGTON (AP) — President Donald Trump said Friday that he will nominate Stephen Moore, a conservative economic analyst and frequent critic of the Federal Reserve, to fill a vacancy on the Fed's seven-member board. Moore, a well-known and often p...
Federal Reserve foresees no interest rate hikes in 2019
WASHINGTON (AP) — The Federal Reserve left its key interest rate unchanged Wednesday and projected no rate hikes this year, reflecting a dimmer view of the economy as growth weakens in the United States and abroad. The Fed said it was keeping its b...
Minutes show Fed officials noted number of rising threats
WASHINGTON (AP) — Federal Reserve policymakers last month noted greater threats to the U.S. economy, ranging from adverse effects of the government shutdown to rising trade tensions, and decided to emphasize that they would be "patient" in raising in...
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 annua...
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 t...
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. P...
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 t...
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 lates...
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. M...
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 c...
