• Tuesday, July 7, 2015 - 15:18

    WASHINGTON (MNI) - President Barack Obama spoke Tuesday with Greece Prime Minister Alexis Tsipras German Chancellor Angela Merkel to discuss the situation, and in both calls urged the importance of reaching an agreement on Greece, the White House said.

    "The President received an update from Prime Minister Tsipras on his ideas for a path forward between Greece and its creditors.

  • Tuesday, July 7, 2015 - 15:01

    --Senate Minority Leader Scorches GOP On Spending
    --Sen. Reid: 'No Need To Wait Until September' For Talks

  • Tuesday, July 7, 2015 - 14:10

    --Puerto Rico Faces Short-Term, Long-Term Challenges

    WASHINGTON (MNI) - As lawmakers awaken to the financial crisis that has been battering Puerto Rico for some time, the research unit of Congress recently released a report that suggests policymakers should distinguish between the territory's short-term financing woes and its longer-term economic challenges.

    The Congressional Research Service argues in the report that Puerto Rico faces difficult challenges that defy easy policy responses.

    "The government of Puerto Rico faces multiple fiscal challenges in coming weeks and months," the CRS report said.

  • Tuesday, July 7, 2015 - 13:41

    --US FSOC Has 'Critical Data Limitations'
    --State Stress Tests of Insurance Firms Inadequate

    WASHINGTON (MNI) - The International Monetary Fund Tuesday took its own measure of U.S. financial system stability, finding commercial bank risk has been mostly controlled by regulation, while asset management services and products, like mutual funds, exchange traded funds and even pension funds, are where systemic risk is elevating.

    The IMF's report on U.S.

  • Tuesday, July 7, 2015 - 12:04

    --House Minority Whip Says Talks Must Adjust Sequester
    --Rep. Hoyer: GOP Leaders Should Permit Ex-Im Vote

  • Tuesday, July 7, 2015 - 10:58

    --Underpinnings for Continued Growth Remain in Place
    --Fed Should Wait to Raise Rates Until See More Infl Pressures

    WASHINGTON (MNI) - With slower growth in the first quarter, the International Monetary Fund Tuesday downgraded its outlook for the U.S. economy and urged the Federal Reserve to wait to raise its policy rate until next year.

    "The U.S. economy's momentum in the first quarter was sapped by unfavorable weather, a sharp contraction in oil sector investment, and the West Coast port strike," the IMF said in a statement following its annual Article IV review of the U.S. economy.

  • Monday, July 6, 2015 - 20:18

    --Obama Spoke to Hollande, Lew to Tsipras and New Greece Fin Min
    --Deal Should Allow Resumption of Reforms, Debt Sustainablty

    WASHINGTON (MNI) - President Barack Obama and Treasury Secretary Jack Lew each spoke to key officials in Europe Monday and stressed the need for an agreement for Greece that would allow the country to resume reforms and achieve debt sustainability, within the eurozone.

    The Treasury Department said Lew spoke by telephone Monday afternoon with Greek Prime Minister Alexis Tsipras and newly-installed Finance Minister Euclid Tsakalotos on the situation in Greece.

  • Monday, July 6, 2015 - 14:42

    --House, Senate to Work on Education Overhaul Bills
    --House to Finish Work on FY 2016 Interior Spending Bill

    WASHINGTON (MNI) - Congress returns this week from its July 4 recess with a truckload of pending issues, including the fate of the Export-Import Bank, surface transportation programs, corporate tax reform, and the 12 spending bills for the 2016 fiscal year.

    The House and Senate return to session Tuesday and will work on major education reform bills this week.

    In addition, the House will attempt to pass its FY 2016 Interior-Environment spending bill, which will be the seventh spending bill to receive House approval.

  • Wednesday, July 1, 2015 - 14:05

    --Four-Fifths See Liquidity Less in Treasuries Market Vs 2010
    --A Third Saw Considerable Worsening for Treasuries

    WASHINGTON (MNI) - The Federal Reserve's quarterly survey of senior bank credit officers Wednesday showed wide agreement that liquidity has deteriorated compared to 2010, particularly in the Treasuries market but extending to residential mortgage backeds and corporate bonds - and that regulations as well as internal risk management are to blame.

    The special questions on liquidity and the functioning in markets for underlying collateral showed four-fifths of those in the Treasuries market, half of those in the RMBS market and two fifths of those participants in the corporate bond market acknowledged deterioration in the past five years.

    The dec

  • Wednesday, July 1, 2015 - 13:59

    --Hill Ponders Combo of Highways, Taxes, Export-Import Bank Bills
    --But Each Issue Has Its Own Complications, Complexities
    --Congress May Decide To Pass Short-Term Extensions

    WASHINGTON (MNI) - Congress, as has been manifestly evident for some time, often has enough trouble dealing with one complicated issue at a time.

    So when lawmakers and congressional staff begin to discuss scenarios that combine several major issues into a large package it makes sense to view these scenarios with considerable skepticism.

    Still, there is a chance that the month of July will see legislative sausage making of considerable proportions, driven by deadlines related to the Export-Import Bank, surface transportation programs, and the ongoing talks about corporate tax reform.