Government Policy

  • 2015-05-24 08:00

    By Johanna Treeck

    SINTRA, PORTUGAL (MNI) - European Central Bank Governing Council member Patrick Honohan Saturday called on fellow central bankers to remove obscure language on structural reforms and offer clearer policy advice.

    Honohan's spoke at the ECB Forum on Central Banking in Sintra, Portugal that was kicked off with a speech by Mario Draghi Friday in which the ECB President defended the Bank's frequent calls for a shift in national policies.

    "Structural reforms that reverse the downward drift in potential growth are now vital for the euro area, which is why I believe, as the guardian of the currency, we have a legitimate interest in talking about them," Draghi said, adding that "structural reforms" are mentioned in about a third ECB Executive Board member speech

  • 2015-05-22 21:25

    --Senate Approves Key Trade Bill In 62 37 Vote
    --Senate Adopts Amendment Urging Admin To Work On Currency

    WASHINGTON (MNI) - The Senate approved Friday night legislation to renew Trade Promotion Authority for the president, sending the bill to the House where it will be taken up next month.

    The Senate approved the TPA bill on a 62 to 37 vote.

    Due to parliamentary disputes, the Senate only voted on a handful of the 200 amendments that were filed to the bill.

    The Senate narrowly rejected a high profile currency amendment sponsored by Republican Sen. Rob Portman and Democratic Sen. Debbie Stabenow.

  • 2015-05-22 14:02

    WASHINGTON (MNI) - The following is the text of a readout provided by the U.S. Treasury Department, of a call between Secretary Jack Lew and Greece Prime Minister Alexis Tsipras Friday:

    U.S. Treasury Secretary Jacob J. Lew spoke with Greek Prime Minister Alexis Tsipras to discuss the latest economic developments in Greece. Secretary Lew noted that the Treasury Department continues to closely monitor developments in Greece and remains engaged with all parties involved.

  • 2015-05-22 09:35

    By Martin Baccardax

    LONDON (MNI) - European investors will head into a holiday shortened session next week focused on developments in the ongoing negotiations between Greece and its international creditors and concerns over the strength of the single currency's economic recovery.

    With Germany signalling the increasing likelihood of a slow second quarter, there are concerns that growth outside of the region's largest economy may not be strong enough to maintain the 0.4% pace of expansion recorded in the first three months of the year.

    This week also saw a string of sobering sentiment indicator releases, with the readings from ZEW's investor confidence survey, Markit Economics' PMI all undershooting market expectations.

  • 2015-05-21 18:07

    --Senate Majority Leader Says Final TPA Vote To Be This Week
    --Sen. McConnell: Working To Arrange TPA Amendment Votes

    WASHINGTON (MNI) - Senate Majority Leader Mitch McConnell said Thursday evening the Senate will vote to approve legislation to renew Trade Promotion Authority before beginning its Memorial Day recess.

    In remarks on the Senate floor, McConnell said the final Senate vote on TPA will likely be either Friday or Saturday.

    "We're going to finish TPA," he said.

    McConnell added the Senate will also pass a two month highway bill and a FISA extension before leaving for the week-long Memorial Day recess.

    McConnell said Senate Finance Committee Chairman Orrin Hatch and Sen.

  • 2015-05-21 17:26

    --House Financial Services Chief Slams Fed For Leak Response
    --Rep Hensarling: Fed Has Not Taken Panel's Probe Seriously

    WASHINGTON (MNI) - House Financial Services Committee Chairman Jeb Hensarling said Thursday his panel has issued a subpoena to the Federal Reserve Board for "its failure to comply with document requests from the committee for information concerning the leak of market-sensitive Fed deliberations to a private financial newsletter."

    In a sharply worded statement, Hensarling said the Fed has refused to provide his panel with requested documents concerning the leak of confidential, market-sensitive information from the October, 2012 Federal Open Market Committee meeting.

    "This leak is another troubling example of the growing nexus between gov

  • 2015-05-21 14:00

    --EMU Needs Fiscal Integration -- Big Future Challenge

    By Steven K.

  • 2015-05-21 12:09

    --House Speaker Denies Any Commitment To Help Senate Vote

    WASHINGTON (MNI) - House Speaker John Boehner said Thursday he has not made a commitment for a House vote to renew the Export-Import Bank if the Senate were to vote to expend the bank.

    At a briefing, Boehner said he was not involved in any of the negotiations in the Senate that appeared to link Trade Promotion Authority legislation and the renewal of the Export-Import Bank.

    Boehner said he was contacted by one of the Senate's top Ex-Im supporters, Sen.

  • 2015-05-21 11:14

    --Senate Majority Leader Says Vote 'Another Step Forward'
    --Senate Finance Chief: Vote Was 'Major Step Forward'

    WASHINGTON (MNI) - The Senate voted Thursday to end debate on legislation renewing Trade Promotion Authority, and supporters of TPA said the vote was a significant step toward passing the bill.

    The Senate voted 62 to 38 to cut off debate.

    The supporters of TPA had needed to secure at least 60 votes in the Senate.

    Now that the motion to end the debate was approved, the Senate could still debate the matter for 30 more hours and there are still 200 amendments that have been filed to the bill.

  • 2015-05-21 09:37

    --TPA Supporters Need 60 Votes To End Debate
    --Senate Finance Chief Urges Vote To End Debate
    --Sen. Hatch: 'Bipartisan Majority' Supports TPA

    WASHINGTON (MNI) - The Senate will vote at 10 a.m. ET Thursday to end debate on legislation renewing Trade Promotion Authority, a key test as to whether procedural and legislative process fights have eroded support for the measure.

    The supporters of TPA must secure 60 votes in the Senate to end the debate.

    Even if the motion to end the debate passes, the Senate could still debate the matter for 30 hours and there are still a number of amendments that have been filed to the bill.