U.S. Government

  • 2015-06-08 09:26

    By Denny Gulino

    WASHINGTON (MNI) - The head of the research arm of the U.S. Financial Stability oversight Council Monday acknowledged that market liquidity "appears to have become increasingly brittle," but said the exact causes are still under study.

    "Although liquidity in these markets looks adequate during normal conditions, it seems to disappear abruptly during episodes of market stress, contributing to disorderly price changes," Office of Financial Research Chief Richard Berner told the Brookings Institution.

    "None of these episodes disrupted U.S.

  • 2015-06-08 09:23

    WASHINGTON (MNI) - The following is an excerpt from the joint G-7 Leaders' declaration Monday following their meeting in Schloss Elmau, Germany:

    Foreign Policy

    Acting on Common Values and Principles

    We, the G7, emphasise the importance of freedom, peace and territorial integrity, as well as respect for international law and respect for human rights. We strongly support all efforts to uphold the sovereign equality of all States as well as respect for their territorial integrity and political independence.

  • 2015-06-08 09:17

    WASHINGTON (MNI) - The following is an excerpt from the joint G-7 Leaders' declaration Monday following their meeting in Schloss Elmau, Germany:

    State of the Global Economy

    The global economic recovery has progressed since we last met. In some major advanced economies growth is strengthening and prospects have improved. The decline of energy prices has supportive effects in most of the G7 economies. However, many of our economies are still operating below their full potential and more work is needed to achieve our aim of strong, sustainable and balanced growth. Overall G7 unemployment is still too high, although it has decreased substantially in recent years.

  • 2015-06-05 13:21

    --House Passes $51 Bln Commerce-Science-Justice Spending Bill
    --But Dems Say Possible Shutdown Looms Unless Sequester Deal
    --OMB Chief, Top Hill Dems Call For Sequester Fix Talks

    WASHINGTON (MNI) - Proudly proclaiming that Republicans are determined to move aggressively to pass the 12 fiscal year 2016 spending bills, House Majority Leader Kevin McCarthy said this week the House will consider its appropriations bills at the earliest time since the current congressional budget process was created in 1974.

    Backing up McCarthy's claim, the House passed this week the $51 billion Commerce-Science-Justice spending bill for FY 2016 on a mostly party line, 242 to 183 vote.

    The House then began debating the Transportation-HUD spending bill which it's expected to vote

  • 2015-06-04 14:21

    --House Ways & Means Chief Says TPA Support Is Growing
    --Rep. Ryan: Modified Currency Provisions Go In Customs Bill

  • 2015-06-04 13:36

    By Brai Odion-Esene

    WASHINGTON (MNI) - The fight to degrade the Islamic State and the nuclear talks with Iran will be on the agenda when G7 leaders meet in Germany next week, but White House officials said President Barack Obama's main goal will be to ensure pressure is maintained on Russia for its role in Ukraine's ongoing conflict.

    During a briefing to preview the president's trip to the June 7-8 summit in Krun, a municipality in Bavaria, Deputy National Security Advisor For Strategic Communications Ben Rhodes said Obama will have a bilateral meeting with German Chancellor Angela Merkel to plan the meeting and make sure that "we are closely aligned."

    They will also review a number of regional and global issues, he added. Rhodes said Obama also plans to meet on the sid

  • 2015-06-04 12:33

    --House Speaker Says TPA Is Hard For Dems 'Politically'
    --Rep. Pelosi: It's Boehner's 'Responsibility' To Pass TPA

    WASHINGTON (MNI) - House Speaker John Boehner and House Minority Leader Nancy Pelosi Thursday intensified their vote count maneuvering on legislation renewing Trade Promotion Authority for the president.

    In back to back briefings, Boehner and Pelosi attempted to shift the onus to the other for passing TPA in the House.

    The Senate approved last month the TPA bill on a 62 to 37 vote. The bill also authorizes funds for the Trade Adjustment Assistance program.

  • 2015-06-03 17:05

    --Econ Weakness Is Transitory
    --Independent Views Critical To Superior Mon Pol

    ST. LOUIS (MNI) - The Federal Reserve should act to raise interest rates if economic data improves as expected over the next few months, St. Louis Federal Reserve Bank President James Bullard said Wednesday.

    Calling the economy's first-quarter weakness "transitory," Bullard said it should cause only a temporary delay in the timetable for raising rates. "I think the data will be better later in the year ... but I'd like to see that confirmed so we can get on with the normalization process," he said at a press conference ahead of the annual St.

  • 2015-06-03 14:00

    WASHINGTON (MNI) - The following is the third and final section of the summary portion of the latest Beige Book survey of economic conditions in all 12 of the Federal Reserve Districts, published Wednesday, prepared by the Dallas Fed through May 22:

    Banking and Finance

    Lending activity increased during the reporting period. Several districts, including Philadelphia, Richmond, Atlanta, St. Louis, and San Francisco reported modest to moderate increases in loan volumes. The New York District noted a strong, broad-based pick up in loan demand since the previous report; however, the Dallas District reported slower overall growth. Commercial and industrial loan demand improved in the Philadelphia, Cleveland, St.

  • 2015-06-03 10:54

    --Financial Services Panel Chief Says GOP 'Split' on Bank
    --Rep. Hensarling: Dem Support of Ex-Im is Disingenuous
    --Dem Rep Waters Hammers Hensarling for Ex-Im 'Games'

    WASHINGTON (MNI) - Adhering to a now well established tradition, it took the House Financial Services Committee about one minute Wednesday to break into partisan bickering during a hearing to consider the future of the Export-Import Bank.

    House Financial Services Committee Chairman Jeb Hensarling and Rep.