Fiscal policy

A man walks past a banner showing Saudi King Salman, right, and his Crown Prince Mohammed bin Salman, outside a mall in Jiddah, Saudi Arabia, Saturday, March 7, 2020. (AP Photo/Amr Nabil)
1010 WINS Newsroom
March 19, 2020 - 3:57 am
DUBAI, United Arab Emirates (AP) — Saudi Arabia said the government will cut spending by 5%, or about $13.3 billion, to offset the impact of plunging oil prices and the effects of the new coronavirus on its economic outlook and deficit. In a statement carried by the state-run Saudi Press Agency...
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Senate Majority Leader Mitch McConnell, R-Ky., walks to the chamber as lawmakers negotiate on the emergency coronavirus response legislation, at the Capitol in Washington, Wednesday, March 18, 2020. (AP Photo/J. Scott Applewhite)
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March 18, 2020 - 4:11 pm
WASHINGTON (AP) — The Treasury Department said Wednesday it wants to dedicate $500 billion to start issuing direct payments to Americans by early next month as the centerpiece of a $1 trillion plan to stabilize the economy as the coronavirus epidemic threatens a body slam to taxpayers and...
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Mike Mastrian, Director of the Senate Radio and Television Gallery, cleans down the podium before a news conference with Senate Majority Leader Mitch McConnell of Ky., on Capitol Hill in Washington, Tuesday, March 17, 2020. (AP Photo/Susan Walsh)
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March 17, 2020 - 11:26 pm
WASHINGTON (AP) — In a massive federal effort Tuesday, President Donald Trump asked Congress to speed emergency checks to Americans, enlisted the military for MASH-like hospitals and implored ordinary people — particularly socially active millennials — to do their part by staying home to stop the...
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President Donald Trump speaks during a press briefing with the coronavirus task force, in the Brady press briefing room at the White House, Monday, March 16, 2020, in Washington. (AP Photo/Evan Vucci)
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March 17, 2020 - 1:35 pm
WASHINGTON (AP) — Ahead of an expected surge in coronavirus cases, President Donald Trump on Tuesday moved to blunt the impact of the pandemic on the U.S. economy, fundamentally altered by a push for a nation to stay home. As the global markets fluctuated amid fears of a recession, the president...
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Trader Peter Tuchman works on the floor of the New York Stock Exchange Monday, March 16, 2020. (AP Photo/Craig Ruttle)
1010 WINS Newsroom
March 17, 2020 - 12:07 am
BANGKOK (AP) — Shares reversed early losses in Asia on Tuesday after the U.S. stock market plunged to its worst day in more than three decades and huge swaths of many economies came to a standstill as businesses and travel shut down due to the virus outbreak. Tokyo's Nikkei 225 reversed early...
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FILE - In this May 8, 2019, file photo, New Zealand's Reserve Bank Governor Adrian Orr speaks to the media in Wellington, New Zealand. New Zealand's central bank on Monday, March 16, 2020 cut the benchmark interest rate to a record low 0.25%. The cut of 0.75% came outside of the bank's normal schedule for changing rates. The Reserve Bank of New Zealand said in a statement that the negative impact of the pandemic on the New Zealand economy will be significant. For most people, the new coronavirus causes only mild or moderate symptoms. For some, it can cause more severe illness, especially in older adults and people with existing health problems. (AP Photo Nick Perry, File)
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March 16, 2020 - 10:56 pm
WELLINGTON, New Zealand (AP) — New Zealand's government said Tuesday it would spend billions of dollars supporting hard-hit companies as it tries to shore up an economy headed for recession because of the coronavirus. The stimulus package is equivalent to 4% of GDP. A large chunk of the new...
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In this Tuesday, March 10, 2020, security guards patrolling the quiet Wangfujing shopping, a usually popular tourist spot before the new coronavirus outbreak in Beijing. China's consumer spending and other business activity fell even more than expected in January and February due to its virus outbreak, adding to the ruling Communist Party's challenges as it tries to revive the world's second-largest economy. (AP Photo/Andy Wong)
1010 WINS Newsroom
March 16, 2020 - 3:52 am
BEIJING (AP) — China’s consumer spending and factory activity fell more than expected in January and February as it fought a virus outbreak, prompting some forecasters to warn this year’s economic growth might slump to its lowest level since the 1970s. Retail sales fell 20.5% from a year ago after...
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Federal Reserve Chair Jerome Powell pauses during a news conference, Tuesday, March 3, 2020, while discussing an announcement from the Federal Open Market Committee, in Washington. In a surprise move, the Federal Reserve cut its benchmark interest rate by a sizable half-percentage point in an effort to support the economy in the face of the spreading coronavirus. Chairman Jerome Powell noted that the coronavirus "poses evolving risks to economic activity." (AP Photo/Jacquelyn Martin)
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March 15, 2020 - 8:48 pm
WASHINGTON (AP) — The Federal Reserve took massive emergency action Sunday to try to help the economy withstand the coronavirus by slashing its benchmark interest rate to near zero and saying it would buy $700 billion in Treasury and mortgage bonds. The Fed’s surprise announcement signaled its...
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The display board with the curve of the DAX photographed behind a pictogram for a fire extinguisher in the trading room of the Stock Exchange in Frankfurt, Germany, Thursday, March 12, 2020. This was again triggered by concerns about the economic consequences of the coronavirus pandemic. For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. (Boris Roessler/dpa via AP)
1010 WINS Newsroom
March 15, 2020 - 12:37 pm
FRANKFURT, Germany (AP) — When the global economy melted down in 2008, world leaders swiftly created an international forum to boost economies by spending more and keeping trade open. Central banks announced rate cuts within seconds of each other. But so far, nations' approach to the economic shock...
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A broker watches his screens at the stock market in Frankfurt, Germany, Friday, March 13, 2020. For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. (AP Photo/Michael Probst)
1010 WINS Newsroom
March 13, 2020 - 2:19 pm
WASHINGTON (AP) — The Federal Reserve and the European Central Bank have taken large steps this week to try to calm financial markets and restore some degree of confidence. So far, it hasn't quite worked. The central banks are facing a crisis only partly responsive to the medicine they can provide...
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