After a year-and-half of fraught negotiations that has slowed global growth and hurt American farmers and consumers, the United States and China have reached an interim trade deal bypassing an economic calamity -- for now.
President Donald Trump is approaching the end of another year without closing on either of the two big trade priorities he campaigned on in 2016 -- a comprehensive deal with China and a renegotiated North American Free Trade Agreement.
After meeting for dinner in December 2018 on the sidelines of a major international summit in Argentina, President Donald Trump and Chinese leader Xi Jinping raised the prospect of an imminent deal to end their tit-for-tat trade war.
The US budget deficit ballooned to nearly $1 trillion for the 2019 fiscal year, according to data released by the Treasury Department on Friday, the biggest gap since 2012 -- despite President Donald Trump's promises to shrink or even eliminate it.
President Donald Trump is reviving last year's promise to slash taxes for America's middle class as he seeks to bolster his reelection bid against Democratic pledges to help people suffering under piles of student loan debt and wrestling to pay oversized medical bills.
The Congressional Budget Office raised its estimate of the projected federal budget deficit Wednesday and is now predicting that the deficit will reach $960 billion for the 2019 fiscal year, which ends on September 30, and reach $1 trillion for the 2020 fiscal year.
President Donald Trump is trying to outrun a possible recession as he runs for reelection in 2020, but his efforts to keep the economy going now might make any downturn harder to fix.
Fears of a brewing global recession were renewed this week as markets whipsawed over President Donald Trump's trade war with China as well as disappointing economic data from both Germany and China.
President Donald Trump enjoyed a brief stock market bounce after deciding to delay his threatened tariffs on Chinese-made cell phones and toys, but Wednesday's very bad day for the US stock market underscored the grim economic reality facing the President as he runs for reelection.
The US budget deficit widened to $867 billion for the first 10 months of the fiscal year, an increase of 27% over this time last year, the Treasury Department reported Monday.
President Donald Trump's trade war just got more complicated -- and it's far from clear whether he'll win a deal before American voters head to the polls next November.
President Donald Trump on Monday accused China of
Two regional Federal Reserve presidents publicly dissented Friday over this week's interest rate cuts, issuing separate statements arguing that economic conditions didn't warrant easing.
President Donald Trump on Tuesday cautioned China not to delay finalizing a trade deal until after the 2020 presidential election, threatening there would be a much tougher offer on the table or no deal at all if he wins.
In May of 2011, then-Treasury Secretary Tim Geithner issued a stark warning letter to Congress: the US government had hit the debt limit and would no longer be able to pay its bills past August 2. That gave Congress exactly 11 weeks before America's wallet would be empty.
The top Democrat on the Senate Finance Committee is dialing back his threat to block Treasury Department nominees, saying he will allow hearings on three nominees to proceed.
Treasury Secretary Steven Mnuchin on Friday issued a warning that the US government is at risk of running out of cash sooner than expected.
The US budget deficit jumped 23.1% in the first nine months of the fiscal year compared with the same period a year ago, according to the US Treasury.
Federal Reserve Chairman Jerome Powell defiantly said Wednesday he would not accept being fired by President Donald Trump, who has waged an unprecedented public pressure campaign on the central bank.
President Donald Trump on Friday continued his public pressure campaign on the Federal Reserve to cut interest rates to juice the US economy. The irony is he already has the economy that he wants.
Federal Reserve Chairman Jerome Powell on Tuesday hailed the independence of central banks, a signature of the financial system established more than a 100 years ago.
The nation's federal debt is now projected to balloon to
The Treasury Department's inspector general said Monday it will review the Trump administration's decision to delay the release of the redesigned $20 note with the image of abolitionist Harriet Tubman.
President Donald Trump's on-again, off-again relationship with corporate America was on full display this week as he sparred publicly with the country's most powerful business lobby over his rinse-and-repeat use of
