Tag: US Congress

• Wednesday, May 25th 2011 - 15:37 UTC

  OECD forecasts risks for world economy including ‘staginflation’

  

  The global economic recovery still faces many risks, which could lead to “stagflation”, the OECD has said in its latest economic outlook. World growth is forecast to be 4.2% this year, down from 4.9% last year, before rising to 4.6% in 2012.

• Tuesday, April 19th 2011 - 14:00 UTC

  Geithner warns US budget trimming battle in Congress has a deadline

  

  United States Treasury Secretary Timothy Geithner said he was confident Congress would raise the country’s debt limit and that it may need to do so before a deal is reached to rein in future budget deficits.

• Friday, July 23rd 2010 - 22:44 UTC

  US economy faces “strong headwinds” and fiscal challenge, says Obama

  

  Obama administration warned the US economy had encountered “strong headwinds” and the country's fiscal challenge remained grave, but it lowered an estimate for the budget deficit this year.

• Thursday, July 22nd 2010 - 09:10 UTC

  Outlook of US economy remains “unusually uncertain” says Bernanke

  

  US Federal Reserve chairman Ben Bernanke has warned that the outlook for the US economy remains “unusually uncertain”. In testimony before the Senate Banking Committee, Mr Bernanke said record low interest rates would still be needed to support economic recovery.

• Friday, July 16th 2010 - 03:46 UTC

  US Senate approves biggest overhaul of financial regulation in decades

  

  United States Senate has given final approval to the biggest overhaul of US financial regulation in decades. The reforms are intended to avert a repeat of the 2008 crisis that brought the world economy to the brink of collapse.