China reported economic growth sank to a post-global crisis low as finance officials launched a media blitz Friday to shore up confidence in its sagging stock market.
Banking & Finance
The latest coverage of the banking and financial sectors.
By Gabriella Muñoz - The Washington Times
Treasury Secretary Steven Mnuchin announced Thursday that he will not represent the U.S. at the Future Investment Initiative summit in Saudi Arabia. Published October 18, 2018
Former Federal Reserve Chairman Alan Greenspan said Thursday that the best thing for Fed employees is to "put on earmuffs" and ignore presidential criticism.
Quietly, President Donald J. Trump is putting together one of the greatest performances on the economy and trade in modern presidential history. This is indeed happening quietly because both the actions and results of Mr. Trump's economic policies are grossly under-reported in the press.
The Trump administration's effort to root out leakers in the federal government bagged a top-level Treasury employee who was charged Tuesday with giving a reporter confidential information about suspicious financial transactions involving former Trump campaign officials Paul Manafort and Rick Gates, accused Russian agent Maria Butina and the Russian Embassy.
The U.S. took steps Wednesday to withdraw from a global system of postal rates that allows China and other countries to ship packages to America at a steep discount, costing U.S. taxpayers as much as $300 million per year and allowing a flow of illegal narcotics.
The Trump administration informed Congress on Tuesday that it intends to pursue new trade deals with Japan, the U.K. and the European Union.
A U.S. International Trade Commission (ITC) judge recently did something extraordinary and virtually unprecedented. He found a patent valid and infringed, but recommended that there should be no remedy. This is an incredibly troubling development that should concern anyone who believes, as did the Framers of the U.S. Constitution, that patent rights are important for the advancement of the country.
What will it take to keep the planet habitable? According to some eco-warriors, all that's necessary is to end capitalism — the one economic system that has lifted billions from poverty and suffering.
This month marks the 10-year anniversary of the housing market meltdown that led to the Great Recession. Is another crisis looming around the corner?
For those on the left and right who were certain that Donald Trump's presidency meant the end of global free trade ... think again. Though President Trump's critics have dismissed the significance of the new Mexico and Canada trade deal, it's hard to deny it's a welcome advance for the economy on the entire continent.
Saudi Arabia warned Sunday it will respond to any "threats" against it as its stock market plunged following President Donald Trump's warning of "severe punishment" over the disappearance of U.S.-based Saudi journalist Jamal Khashoggi.
Responding to big losses on Wall Street, President Trump said Thursday that he understands the economy better than the Federal Reserve.
A team of experts from the International Monetary Fund will travel to Islamabad in the coming weeks to discuss a possible financial assistance package for Pakistan -- despite warnings from U.S. lawmakers and the Trump administration that the money would be used to pay off massive debts Pakistan has run up with China.
U.S. stocks are sinking again a day after their biggest drop since February. Some early relief over a tame report on inflation gave way to renewed selling.
European markets sank in early trading Thursday ahead of U.S. inflation data that may lift bond yields and possibly push interest rates higher.
On Aug. 11, 2016, the U.S. Department of Justice under the Obama administration reaffirmed that marijuana is a Schedule One drug — dangerous because of its high abuse potential and public health concerns — and that the illegal distribution and sale of marijuana is a serious crime. The United States Department of Justice has confirmed it is committed to enforcing the Controlled Substances Act consistent with these determinations.
President Trump blamed the plummeting stock market Wednesday on Federal Reserve policy that has raised interest rates six times since he took office, most recently in September.
The Justice Department announced charges Wednesday against a Chinese government operative who authorities say tried to steal tried secrets from U.S. aviation and aerospace companies, including GE Aviation.
Morgan Stanley's chief global strategist said Monday that the belief in American exceptionalism has never been higher among global investors.
This historic and most interesting city has never looked better, even during its earlier pre-eminence in the late 1700s when Adam Smith lived and died here. The current economy is largely based on financial services, research and tourism -- all of which are "clean" industries -- resulting in the end of the historic smoky image of Edinburgh.
Nearly two years after Donald Trump was elected president with promises to rework America's relationship with its trading partners, and less than two months after he agreed to a new trade deal with Mexico, the president succeeded in bringing Canada on board a new trilateral North American trade arrangement.
Having emerged from one of the world's worst currency implosions of the new century, Argentine consumers are suddenly confronting a reprise.
The U.S. has ratcheted up the pressure on Nicaragua's leftist government for its crackdown on political opponents, with Treasury Department officials warning American banks to be wary of corrupt officials moving cash from the embattled Central American country into the U.S. financial system.
Tesla shares fell 5 percent Friday after CEO Elon Musk taunted the U.S. Securities and Exchange Commission from his Twitter account, taking aim at the agency in the wake of reaching a multimillion dollar settlement surrounding a previous tweet.
At the U.N. General Assembly, President Trump stood up for the sovereign responsibility of each government to put its national security and citizens first.
North Korean hackers renown for conducting online bank heists have successfully breached at least 16 victims in 11 countries in the last four years, making millions of dollars for Kim Jong-un's regime in spite of international sanctions, a U.S. cybersecurity firm reported Wednesday.
While paying off $1,700 in credit card debt in 2014, Jamie Griffin cut up his card. To tackle the remaining $90,000 in student loans he and his wife carried, he read personal finance experts' tips and turned to cash and a spreadsheet to budget. Now that most of their debt is paid off, he's giving credit cards a cautious second chance.
Amazon is boosting its minimum wage for all U.S. workers to $15 per hour starting next month.
The federal government's fiscal year 2018 is over. In some ways, it was a banner year: Economic growth quickened, average paychecks fattened, and there were more jobs available than there were people looking for work. But there are clouds on the horizon. Washington's soaring deficit and debt could wipe out the progress being made, hitting working Americans the hardest.
The CPSC has released a report that found unacceptable levels of lead in an accessory worn by Boy Scouts.
President Trump and Japan Foreign Minister Shinzo Abe agreed Wednesday to negotiate a new trade deal between the two countries.
Our justifiable efforts to halt Russian interference in our domestic political affairs should not come at the expense of American workers and businesses. And yet, two bills currently making their way through Congress would do exactly that. As a former U.S. ambassador to Latvia, a neighbor to Russia, I have firsthand experience that the way to increase leverage on Russia is by strengthening American enterprise in the region — not by erecting counterproductive sanctions.
President Trump told the United Nations on Tuesday that the U.S. is guided by patriotism instead of globalism, rejecting the authority of world bodies.
The remaining members of the 2015 Iranian nuclear accord say they're committed to finding ways to bypass economic sanctions being reimposed on Tehran by the U.S. following President Trump's withdrawal from the Obama-era deal.
In the latest escalation of the U.S.-China trade war, Beijing on Monday accused Washington of "economic bullying" just as trade tariffs on $200 billion of Chinese made goods came into effect.
China and the United States imposed new tariff hikes on each other's goods Monday and Beijing accused Washington of bullying, giving no sign of compromise in an intensifying battle over technology that is weighing on global economic growth.
Even at this late hour, Donald Trump can save the Republican Congress in November — if they want to be saved. To understand how, we need to rewind back to this time last year.
China's No. 2 leader appealed Wednesday for support for free trade and promised to improve conditions for foreign companies following tit-for-tat U.S. and Chinese tariff hikes in a battle over Beijing's technology policy.
President Trump on Tuesday got tough on China with tariffs, but a bipartisan group of senators want to get tougher, pushing legislation to crack down on Chinese cellphone giant ZTE.
China is forced to retaliate against President Trump's new tariffs, the country's Commerce Ministry said in a statement Tuesday.
President Trump took aim at China Tuesday, warning there will continue to be "great and fast economic retaliation against China" if Americans are targeted by unfair trading practices.
President Trump on Monday announced new tariffs on $200 billion of Chinese imports, ratcheting up pressure on Beijing to stop unfair trade practices.
President Trump on Monday said his get-tough tariffs give the United States the edge in trade bouts, as he prepares to slap more duties on $200 billion of Chinese goods.
The Trump administration ripped up federal regulations at a record pace this year and saved taxpayers $1.3 billion, double the goal set by the president, according to an American Action Forum analysis.
American consumers have not felt widespread price increases months after the Trump administration started rolling out tariffs, and economist Robert Scott says the doomsday predictions might never materialize.
China's "Belt and Road" global financing strategy is sporting its first serious potholes, as backlash from smaller nations across Asia mounts amid frustration over opaque and predatory lending practices.
Slumping approval ratings, growing skepticism of his reform agenda and his "Jupiterian" approach to government, a term French President Emmanuel Macron adopted during his campaign to describe his goal of reshaping French society, have taken the shine off the 40-year-old president.
Republican officials said Sunday it was disappointing to see both President Obama break the past example of recent ex-presidents by re-entering the political scene last week with a stinging rebuke of his successor, and for Mr. Obama to try to take credit for a burgeoning economy under President Trump.
This past week I asked a friend at the White House about how the president was holding up against the onslaught of media attacks. "They didn't even deliver a glancing blow," was the response. It wasn't for a lack of trying.
The Trump administration's drive to crush Iran's oil exports has moved forward after Secretary of State Mike Pompeo said Washington will help India to reduce its dependence on crude imports from the Islamic Republic.
The Obama-era Consumer Financial Protection Bureau faced a legal challenge at the Supreme Court on Thursday to its singe-director format, a setup that Supreme Court nominee Brett M. Kavanaugh has consistently ruled against for placing too much power in the hands of one unaccountable bureaucrat.
Sen. Bernard Sanders, a frequent critic of Amazon, introduced a bill Wednesday that would tax employers if their workers required public assistance, naming it the Stop BEZOS Act.
President Trump called on Congress Wednesday to approve work requirements for people receiving food stamps, as part of a massive farm bill that lawmakers are negotiating.
Supporters of California's move toward the nation's first-ever corporate gender quotas have insisted the bill will be good for business, but that's not what happened in Norway.
The White House on Tuesday highlighted President Trump's economic record and credited his pro-growth policies with creating millions of jobs and putting more money in workers' pockets.
Last week, the Federal Reserve announced that it had reached its goal of a 2 percent inflation rate. Why not 1 percent or 4 percent or better yet, zero? The act creating the Federal Reserve back in 1913 tasked the Fed with the goal of price stability — which in normal (not Washington) speak should mean an inflation rate of zero.
Major banks that took taxpayers' money in the Wall Street bailout shouldn't venture into setting social or public policy requirements for customers, notably when it comes to gun rights, says a GOP senator who's eyeing legislation to bring the banks to heel.
The farm bill last year sent $15,488 in subsidies to the homes of Hollywood's elite, and Congress is back at the drawing board this year.
For ten years his Mike Rowe's foundation has worked tirelessly to ensure that the next generation sees the value in the kind of jobs he performed on "Dirty Jobs" and "Somebody's Gotta Do It."
President Trump has released a rousing proclamation for Labor Day that reveals his admiration for the nation's workforce. The declaration is no short sound bite. This proclamation is nine paragraphs long and includes some strategic references to Mr. Trump's productive labor policies.
Recent Opinion Columns
He's back! President Obama has emerged from his supposed cloistered life to attack President Trump. Mr. Obama broke with a tradition apparently only modern Republican ex-presidents follow, which is not to speak ill of your successor.
This past week, Alexandria Ocasio-Cortez, a self-proclaimed socialist, won the Democratic primary for a congressional seat in New York. Why would a sane person advocate a political movement that was responsible for well over a hundred million deaths in the last century, as well as untold misery? By her comments, Ms. Ocasio-Cortez revealed a couple of things about herself. The first is an ignorance of history — because it is unlikely that she really meant to be an advocate for a cause that often results in mass death and destruction — and that she is unable to think beyond stage 1, or the first order effect of a policy.
The left is quickly running out of excuses for why President Trump's economic policies have caused a boom — rather than the bust they predicted with such great certainty.
In the early days of the Internet, Despair.com came up with a popular series of "demotivational posters" that spoofed the motivational posters supposed to inspire office workers throughout the 1990s. (Like the kitten who just needs to "hang in there!")
For all the talk of America's decline, the United States offers the world one product that no country seems able to replicate — universally accepted money. If a multinational needs cash to drill for oil in Nigeria or rich Indians want to import BMWs, the dollar is often the currency contracted for payment.
Despite liberal hysterics, Republicans' recent tax cut raised top earners' share of America's tax burden. This seemingly "squared circle" is simply due to a fact true before the legislation and even truer after: Middle- and upper-income earners shoulder the overwhelming tax load. Equally obvious: Even so large a share is not enough for an insatiable left.
Freedom of the seas is critical to America's economic and political security, enabling the transportation of goods manufactured in the United States to other places around the world, and enabling Americans to obtain things otherwise unobtainable here, like bananas every day of every year. What would life be without the freedom to enjoy an occasional banana split?
President Trump is delivering a powerful message to global elites like the World Economic Forum. America First is about unmasking the cynical con the most privileged have played on ordinary working folk.
From The Vault
Pot is hot -- the legal marijuana market in the U.S is expected to hit $11 billion in consumer spending by the end of 2018, and over $23 billion by 2022, according to projections from a new survey released Thursday.
On Wednesday, the U.S. Patent and Trademark Office (USPTO) marked the granting of the nation's 10 millionth patent. Patent filings and issuances are at historically high levels, with more than 2.8 million active patents in the United States, which is both good and troubling news.
The White House said Tuesday night that President Trump will sign into law a sweeping overhaul of bank regulations "as soon as possible" to help boost the economy by spurring more lending from community banks to small businesses.
The Supreme Court decided in favor of employers Monday, ruling that they can enforce arbitration clauses in contracts and head off employees' attempts at class-action lawsuits.
A majority of Americans give President Trump credit for the strong economy, according a new poll published on Sunday.
Sen. John Barrasso credited President Trump and Republicans on Tuesday for changing policies to get the economy moving.
The federal government took in a record tax haul in April en route to its biggest-ever monthly budget surplus, the Congressional Budget Office said, as a surging economy left Americans with more money in their paychecks -- and this more to pay to Uncle Sam.
The Senate on Thursday approved former CIA Director Mike Pompeo to be the nation's next secretary of state, overcoming heavy resistance once again from Democrats to a top Trump nominee.
President Trump confirmed Thursday that Larry Kudlow will be his new economic adviser.
U.S. employers went on a hiring binge in February, adding 313,000 jobs, the most in any month since July 2016, and drawing hundreds of thousands of people into the job market.
In "Hamlet," Shakespeare pens one of the most familiar lines — and best advice — ever written. Before Laertes leaves for Paris, his father, Polonius, tells him: "Neither a borrower nor a lender be "
The federal government will run a $5 trillion deficit three decades from now, the Congressional Budget Office predicted Thursday, saying nearly 30 percent of the country's economy will be consumed by Washington's spending.
Leading Wall Street regulator Ben Lawsky, who heads up the New York Department of Financial Services, warned that the United States should be preparing for a massive cyberattack on banks -- that it's inevitable, and looming.