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WASHINGTON 鈥?After the Federal Reserve cut interest rates Wednesday for the first time in a decade, Chairman Jerome Powell made a striking acknowledgement: In the Trump era, the Fed faces a steep learning curve.The Fed is supposed to set interest rates based on gauges of inflation and employment. But President Donald Trump has injected a wild card into the mix with his combative trade wars and tariffs on imports. The resulting economic uncertainties, Powell said, had significantly influenced the Fed decision to cut rates.Trade is unusual, the Fed chairman told reporters at a news conference Wednesday. There isn ;t a lot of experience in responding to global trade tensions. So it is something that we haven ;t faced before and that we are learning by doing.Compounding the problem is that cutting loan rates 鈥?especially when they ;re already low 鈥?isn ;t likely to ease uncertainties from a prolonged trade conflict.A survey by the American Chamber of Commerce in South China ha
stanley cup s found that U.S. manufacturers suspended nearly half their investment projects valued
stanley cup above $250 million because of uncertainty in U.S.-China trade relations. Powell acknowle
stanley cup dged that some companies have delayed investments because of the tariffs. But he didn ;t make a case for why a rate cut might cause some of them to reverse course.In the big scheme of things, interest rates are not driving the manufacturing economy, said Timothy Ohpc U.S. declares Iran s guard force a terrorist organization
WASHINGTON AP 鈥?The Democrats ; idea for a new billionaires ; tax to help pay for President Joe Biden social services and climate change plan has quickly run into criticism as too cumbersome, with some lawmakers preferring the original plan of simply raising the top tax rates on corporations and the wealthy.With the revenue side of the package deeply in flux, Democrats are
adidas campus at a standstill trying to wrap up negotiations on Biden overall package. But party leaders insisted Tuesday a broad deal remains within reach as they rush to show progress before the president departs later t
adidas campus his week to global overseas summits.House Speaker Nancy Pelosi told lawmakers during a caucus mee
yeezy ting they were on the verge of 8220 omething major, transformative, historic and bigger than anything else ever attempted in Congress, according to a person who requested anonymity to share the private remarks. Senate Majority Leader Chuck Schumer opened the Senate with a simple message: We ;re working to get it done.READ MORE: Whats in, and whats out, as Democrats trim Biden infrastructure billHowever, vast differences among Democrats remain over the basic contours of the sweeping proposal and how to pay for it. It now estimated to total at least $1.75 trillion over 10 years, and could still be more. Resolving the revenue side is key as the Democrats scale back what had been a $3.5 trillion plan, insisting all the new spending will be fully p
