Martin’s Recent Stories
Economy Nov 19Mnuchin rejects renewal of some Federal Reserve emergency loan programs
The central bank said it "would prefer that the full suite of emergency facilities established during the coronavirus pandemic continue to serve their important role as a backstop for our still-strained and vulnerable economy.
Politics Nov 05Federal Reserve keeps interest rate at record low
The Fed announced no new actions after its latest policy meeting but left the door open to provide further assistance in the coming months.
Economy Oct 29U.S. economy grew at 33 percent rate in third quarter, but recovery is incomplete
The U.S. economy grew at a sizzling 33.1% annual rate in the July-September quarter — by far the largest quarterly gain on record — rebounding from an epic plunge in the spring, when the eruption of the coronavirus closed businesses…
Economy Oct 16U.S. budget deficit hits all-time high of $3.1 trillion
The federal budget deficit hit an all-time high of $3.1 trillion in the 2020 budget year, more than double the previous record, as the coronavirus pandemic cut revenues and sent spending soaring.
Economy Oct 15IMF warns global economy could be permanently scarred
The global economy's recovery from the pandemic recession is tentative and uneven and "marked by significant uncertainty" as confirmed coronavirus cases spread in many countries, global finance ministers warned Thursday.
World Oct 14G-20 suspends poor nations’ debt payments for 6 more months
The Group of 20 nations, representing the world’s biggest economies, say they have agreed to extend the suspension of debt payments by an additional six months to support the most vulnerable countries in their fight against the coronavirus pandemic.
Economy Oct 13IMF envisions a sharp 4.4 percent drop in global growth for 2020
The International Monetary Fund foresees a steep fall in international growth this year as the global economy struggles to recover from the pandemic-induced recession, its worst collapse in nearly a century.
Economy Oct 05Service sector grows for the 4th consecutive month
The index had fallen sharply for three months starting in March as shutdowns aimed at containing the virus closed many businesses and put millions of Americans out of work. But starting in June, the index has resumed rising.
Economy Sep 23WATCH: Senate budget committee holds hearing on updated CBO outlook
The Treasury Department said that the U.S. budget deficit hit an all-time high of $3 trillion for the first 11 months of this budget year.
Politics Sep 22WATCH: Powell and Mnuchin voice optimism about economy but back more aid
Both officials stressed that major sectors of the economy were still suffering.