Treasury chief: No sanctions relief for Russian oligarch

Politics 01/10/19, 18:59

Treasury Secretary Steven Mnuchin plans to tell lawmakers in a classified briefing Thursday that the Trump administration will keep strict U.S. sanctions on the Russian oligarch Oleg Deripaska and any companies he owns. In one of Democrats' first oversight moves as the new majority in the House, seven committee chairmen wrote ...

House Democrats demand briefing on Russia sanctions decision

Politics 01/08/19, 18:05

The leaders of seven House committees are calling on Treasury Secretary Steven Mnuchin to explain why the United States is easing sanctions on companies linked to Russian oligarch Oleg Deripaska.  The Democrats wrote to Mnuchin on Tuesday to ask about a December announcement that the U.S. would lift sanctions on the ...

Trump: ‘I do’ have confidence Treasury Secretary Mnuchin

Politics 12/25/18, 12:30

President Donald Trump says he has confidence in Treasury Secretary Steven Mnuchin (mih-NOO'-shin), calling him a "very talented guy" and a "very smart person." Trump reiterated his view that the Federal Reserve is raising interest rates too fast, but called the independent agency's rate hikes a "form of safety" for an ...

Japan stocks plunge, other Asia markets fall after US losses

Business 12/25/18, 01:15

Japanese stocks plunged Tuesday and other Asian markets declined following heavy Wall Street losses triggered by President Donald Trump's attack on the U.S. central bank. The Nikkei 225 fell by an unusually wide margin of 4.8 percent to 19,189.00. The Shanghai Composite Index lost 2.3 percent to 2,469.28. Benchmarks in Thailand ...

Trump aide: White House, central bank tension not unusual

U.S. 12/23/18, 10:48

A White House official says tension between a president and the interest-rate setting Federal Reserve is "traditional as part of our system." Acting chief of staff Mick Mulvaney says it should come as no surprise that President Donald Trump is unhappy the central bank, an independent agency, "is raising rates and ...

Mnuchin says market’s negative reaction to Fed ‘overblown’

Business 12/20/18, 14:32

Treasury Secretary Steven Mnuchin said Thursday that the negative market reaction following the Federal Reserve's rate hike this week was "completely overblown."Mnuchin said the market overreacted, with computerized program trading taking over and driving stock prices down further. In a Fox Business interview, Mnuchin said that he believed markets were ...

China, US discuss plans for trade talks

Business 12/10/18, 23:09

China's economy czar and the U.S. Treasury secretary discussed plans for talks on a tariff battle, the government said Tuesday, indicating negotiations are going ahead despite tension over the arrest of a Chinese tech executive.Vice Premier Liu He and Treasury Secretary Steven Mnuchin talked by phone about "the promotion of ...

Trump task force recommends ways to boost Postal Service

Business 12/04/18, 17:59

A task force created by President Donald Trump to evaluate ways to stem billions of dollars in losses at the U.S. Postal Service suggested a range of options Tuesday, including proposals that could significantly boost the cost of sending non-essential mail. The report recommended that the Postal Service develop a new ...

Mnuchin announces sanctions against 9 individuals

Business 10/23/18, 06:58

Treasury Secretary Steven Mnuchin announced Tuesday that the United States and six other Middle East countries are taking action to expose and disrupt terrorist activities being conducted by the Taliban and Iran to undermine the government of Afghanistan.In the announcement from Riyadh, Saudi Arabia, Mnuchin said the seven countries had ...

New tax break rules for ‘opportunity zone’ investors

Business 10/19/18, 09:33

The Trump administration is proposing rules for investors in a new program that it says could have a big impact on economically depressed areas around the country. About 8,700 so-called "opportunity zones" have been set up in all 50 states to lure investors and developers with tax breaks.The rules from ...

Trump: ‘Severe’ consequences if Saudis murdered Khashoggi

Politics 10/19/18, 01:17

President Donald Trump acknowledged Thursday it "certainly looks" as though missing Saudi journalist Jamal Khashoggi is dead, and he threatened "very severe" consequences if the Saudis are found to have murdered him. His warning came as the administration toughened its response to a disappearance that has sparked global outrage.Before Trump ...

Mnuchin says he will not attend Saudi investment conference

World 10/18/18, 12:18

Treasury Secretary Steven Mnuchin says he will not attend an investment conference in Saudi Arabia. Mnuchin made the announcement on his Twitter account , saying that the decision was made after a White House meeting with President Donald Trump and Secretary of State Mike Pompeo. Mnuchin says in his tweet, "I will ...

Trump criticizes Fed for raising interest rates too quickly

Business 10/16/18, 16:45

President Donald Trump is criticizing the Federal Reserve for raising interest rates too quickly.The recent increase in interest rates has spooked investors who fear higher borrowing costs could slow down the economy.Trump has blamed the market's big sell-off on rising rates and has described the Fed as being "out of ...

Senators urge tough US response over missing Saudi writer

Politics 10/14/18, 14:50

Two leading Senate Republicans on Sunday threatened tough punitive action by Congress against Saudi Arabia, including a possible halt of military sales, if missing journalist Jamal Khashoggi was indeed killed inside the Saudi consulate in Istanbul.As Saudi Arabia warned of possible economic retaliation of its own, Sens. Marco Rubio and ...

US Treasury’s Mnuchin downplays fears of US-China trade war

Business 10/13/18, 01:07

U.S. Treasury Secretary Steven Mnuchin has downplayed widely voiced concerns over the risks that trade tensions with China could disrupt the world economy.Mnuchin also told reporters Saturday in Bali, Indonesia, that he doesn't lose sleep over the possibility that China might sell its huge hoard of U.S. treasuries in retaliation.Concerns ...

US Treasury issues new rules on foreign investments

Business 10/10/18, 07:22

The Treasury Department issued new rules Wednesday on foreign investments into American companies that will give the government more power to block foreign transactions on national security grounds.The rules, which represent the latest escalation in an intensifying economic conflict between the United States and China, will implement a program for ...

China promises not to weaken yuan, criticizes US concern

Business 10/09/18, 01:18

China promised Tuesday not to weaken its currency to boost exports during a tariff fight with Washington and rejected U.S. concern about the yuan's sagging exchange rate as groundless and irresponsible.Beijing has no intention of using "competitive devaluation," said a foreign ministry spokesman, Lu Kang.A U.S. official told reporters in ...

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