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Stimulus

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OPINION
October 17, 2009
As part of the $787-billion economic stimulus package enacted in February, Washington sent a $250 check to every adult on Social Security. every adult on Social Security. The same amount went to those enrolled in Veterans Administration, Railroad Retirement and Supplemental Security Income benefit programs. The purpose of the one-time payments was to boost consumer spending and help revive the economy. But in President Obama's view, once was not enough. On Wednesday, he urged Congress to spend $13 billion on a second round of $250 checks, saying, "Even as we seek to bring about recovery, we must act on behalf of those hardest hit by this recession."
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NEWS
February 17, 2014 | By David Lauter
WASHINGTON - Five years after its passage, White House officials and their Republican critics are still fighting over the merits of President Obama's economic stimulus law. Later this week, Obama will mark the fifth anniversary of signing the American Recovery and Reinvestment Act. Monday, his Council of Economic Advisers issued a 70-page report lauding the law's impact. Republicans, meanwhile, seized the anniversary to denounce the law for increasing the federal debt while failing to cure the economy's troubles.
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NEWS
September 21, 2011 | By Michael Muskal
The Federal Reserve may signal another round of stimulus Wednesday, which has already been condemned by Republicans in a rare move to further politicize the nation's central bank. The Federal Open Markets Committee is expected to announce it will replace about $1.6 trillion of short-term bonds with long-term ones, a form of quantitative easing designed to stimulate the economy. The Fed has already had two such rounds. Top congressional Republicans, however, question whether the previous rounds have done any good and whether a new move would be of economic value.
BUSINESS
February 17, 2014 | By Don Lee
WASHINGTON - Brutal winter weather contributed to a downturn in job growth and other economic data, raising questions about the strength of the recovery and testing the Federal Reserve's resolve in unwinding its key bond-buying stimulus program. Fed policymakers will have another month of data to consider when they next meet in mid-March. But if the views of John C. Williams are any indication, the Fed is likely to hold course. As president of the Federal Reserve Bank of San Francisco, one of the Fed's 12 district banks, Williams has a seat at the mahogany table where top Fed officials meet regularly to discuss the economy and make policy decisions.
BUSINESS
October 16, 2009 | Associated Press
Treasury Secretary Timothy F. Geithner said Thursday that the economy was in the midst of a recovery that could be imperiled if the government's support systems were removed too quickly. "A classic pattern in past financial crises is governments tend to put on the brakes too soon, withdraw support too early, and that's been a very costly mistake and we're going to be very careful to avoid that mistake," Geithner said at a conference sponsored by the Economist magazine. A robust recovery depends on businesses investing more in the economy, Geithner said, and it is the government's responsibility to give them the tools to do that.
NEWS
September 25, 2012 | By James Rainey
If he wins a second term, will President Obama try for another large infusion of government spending to turn an anemic economic recovery into something more robust? Los Angeles Times economic policy reporter Don Lee reminded us over the weekend about how the administration got less than half what it originally hoped for with $800 billion in tax cuts and government spending in 2009. The administration initially proposed a $1.8-trillion plan. Many economists on the Democratic side have been arguing vehemently that the threat from long-term debt is not nearly as great as the long-term damage from allowing the recovery to continue to sputter, costing millions of jobs and the tax receipts that come with them.
BUSINESS
October 15, 2012 | By David Pierson
BEIJING -- Inflation in China eased slightly in September, giving policymakers room to provide further economic stimulus packages as they try to stabilize the country's sharpest slowdown since the 2008 financial crisis. Consumer prices grew 1.9% from a year ago, down from 2% year-on-year growth in August. The gauge is closely watched because high inflation typically sows social discontent among China's massive working class. The diminishing inflationary pressure comes after China said over the weekend that export growth and the money supply had expanded in September more than expected.
OPINION
October 22, 2010
In the grand global experiment now underway as countries try to cope with the economic downturn, Europe and the United States are going in opposite directions. As the Obama administration and Congress have pumped up government spending to stimulate the economy, European countries have launched austerity programs to try to bring their crushing budget deficits under control. Time will tell which economic strategy is more successful, but meanwhile, one thing is becoming clear in Western capitals from Washington to Athens: No matter what national leaders do to try to solve the crisis, they'll suffer politically.
BUSINESS
September 13, 2012 | By Jim Puzzanghera
WASHINGTON -- The eyes of the business world are on Federal Reserve Chairman Ben S. Bernanke and his colleagues today as the central bank is expected to announce another round of economic stimulus at the conclusion of its two-day meeting. Expectations are high on Wall Street and in Washington that the Fed will launch a new bond-buying program to try to breathe more life into the faltering economic recovery. U.S. stock futures edged down early this morning as investors began the countdown to the central bank's decision.
NEWS
August 15, 2012 | By James Rainey
Paul Ryan really gets irritated about the way the federal government has driven the debt to new heights, trying to boost the economy with stimulus spending. But he's also of a mind that once the Bush and Obama administrations put the pork on the table, he wouldn't be doing his job if he didn't get some hunks for his Wisconsin constituents. The Boston Globe had one of those neat stories this week showing how politicians don't let the hobgoblin of consistency clutter up their minds or actions.
BUSINESS
February 7, 2014 | By Don Lee
WASHINGTON - Back-to-back months of sluggish hiring suggest the economic recovery may have lost some momentum and could give the Federal Reserve second thoughts about continuing to throttle back a key stimulus program. Employers added a modest 113,000 jobs in January after boosting payrolls by just 75,000 in December, the Labor Department said Friday. The two-month average was about half of last year's monthly pace of job growth and far below analysts' expectations. Although analysts blamed the weak December hiring largely on frigid weather, there was little evidence the cold contributed to January's numbers.
BUSINESS
February 4, 2014 | By Jim Puzzanghera
A top Federal Reserve official expects the central bank to continue reducing a key stimulus program even though he sees more modest growth this year than many analysts have projected. Jeffrey Lacker , president of the Federal Reserve Bank of Richmond, Va., said Tuesday he supported the decision by central bank policymakers in December to start reducing the monthly bond-buying program. The Fed now is purchasing $65 billion a month in bonds after the Federal Open Market Committee voted to cut the amount by $10 billion at its December and January meetings.
BUSINESS
January 29, 2014 | By Don Lee
WASHINGTON - Shrugging off the recent turbulence in financial markets, the Federal Reserve gave an upbeat take on the U.S. economy and went through with a second straight cut to its large bond-buying stimulus program. Although the decision to reduce its purchases was expected, Ben S. Bernanke won rare unanimous backing in his last meeting as Fed chairman Wednesday. The 10-0 vote to make another $10-billion-a-month cut in its bond purchases also cemented the central bank's plan to gradually dial back its unprecedented monetary stimulus.
BUSINESS
January 24, 2014 | By Andrew Tangel
NEW YORK - Wall Street took a drubbing for the second straight day as investors worry that an economic slowdown in emerging markets could trigger a correction in stocks. The Dow Jones industrial average suffered a drop of 318.24 points Friday, the worst one-day plummet since June of last year. The blue-chip index has plunged almost 500 points during the two-day rout, and follows big drops in European and Asian markets. QUIZ: How much do you know about the Dow? Investors were rattled by a confluence of problems around the world: A dour economic report in China, political unrest in Turkey and financial turmoil in Argentina.
OPINION
January 5, 2014 | By Ron Unz
California is home to both Silicon Valley and Hollywood, two of the world's greatest wealth-producing engines, and much of the state enjoys tremendous affluence. By some estimates, my own town of Palo Alto has the world's highest per capita concentration of billionaires. But California also has pockets of enormous poverty. The U.S. Census recently estimated that when both income and living costs are taken into account, 24% of Californians live in poverty, the highest poverty rate of any state.
BUSINESS
December 18, 2013 | By Andrew Tangel
NEW YORK -- Stocks initially rallied on Wall Street after the Federal Reserve announced Wednesday it would begin scaling back its stimulus program early next year. The Dow Jones industrial average added 200.1 points, or 1.3%, to 16,075.36, about an hour before the closing bell.  The broader Standard & Poor's 500 index gained 19.24 points, or 1.1%, to 1,800.24. The technology-focused Nasdaq composite rose 20.92 points, or 0.5%, to 4,044.60. QUIZ: How much do you know about the stock market?
BUSINESS
August 15, 2013 | By Andrew Tangel and Tiffany Hsu
NEW YORK - Encouraging signs for the labor market caused alarm on Wall Street as investors sped up a broad sell-off, fueled by worries the Federal Reserve will soon scale back its stimulus. Major U.S. indexes closed sharply lower Thursday as yet another hopeful sign of a recovering U.S. economy led traders to believe the central bank will begin slowing its morphine drip of easy money as early as next month. "Investors are waking up to the reality that this is going to be happening, and September is not very far away," said Jack Ablin, chief investment officer at BMO Private Bank.
OPINION
February 4, 2009
Re "GOP set to carve into stimulus," Feb. 3 Regarding the Senate taking up the economic stimulus bill passed by the House: I'd love to see bipartisanship rule the day. Post-partisanship, better still. But what I'd like to see even more: our battered country rescued and revived. Top corporate and individual tax rates have been cut repeatedly (led by Republicans, abetted by Democrats) starting under President Reagan in 1981. In the last 28 years, we've seen the wealth of working Americans redistributed to the richest and have felt our mighty economic engine shudder and backfire.
BUSINESS
December 18, 2013 | By Don Lee and Jim Puzzanghera
WASHINGTON - The Federal Reserve took its first step toward curtailing its unprecedented efforts to boost the economic recovery - a sea change in policy that over time will result in interest rates drifting higher for businesses and consumers alike. After months of skittishness among policymakers and intense anticipation across the globe, the central bank said Wednesday that it would pare its large bond-buying stimulus program by $10 billion a month, beginning next month. The decision marks what is expected to be the start of a gradual unwinding of the Fed's historic efforts to revive an economy debilitated by the financial crisis six years ago. The announcement was greeted with cheers on Wall Street and by many others in the financial industry.
BUSINESS
December 18, 2013 | By Jim Puzzanghera and Don Lee
WASHINGTON - Federal Reserve Chairman Ben S. Bernanke said Wednesday that central bank policymakers decided to modestly reduce a key stimulus program because of "meaningful" progress in the jobs market, but emphasized the economy "has much farther to travel. " "The recovery clearly remains far from complete," Bernanke said in his final scheduled news conference. To emphasize that point, Bernanke and his colleagues on the Federal Open Market Committee also decided to send a strong signal that they were committed to continuing to try to stimulate the economy.
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