Fox Business - The Power to Prosper
Search Site

Red Ink Week

IMF: U.S. Cutting Budget Deficits Too Quickly

The International Monetary Fund on Monday said the United States was getting carried away with a government austerity drive, offering some of the institution's bluntest criticism yet of Washington's rush to cut its budget deficit.Despite high unemployment, Washington is on track to slash its budget shortfall this year by the most in nearly a half century."We think this is too much," Carlo Cottarelli, head of the IMF's fiscal affairs division, told a conference.The IMF has advised European governments embroiled in a debt crisis to shrink their deficits aggressively to win back the confidence of lenders who doubt their ability to pay back loans.But there is very little risk of similar turmoil will ensnare the United States anytime soon, Cottarelli said. Interest rates remain low in the United States, even when factoring in inflation, a sign that lenders still trust the U.S. government to make good on its debts."There is no need for the U.S. to move so quickly," he said.Cottarelli said a ...

Read More

  1. Analysis: UK trade may struggle to stand still after EU exit

    As British Prime Minister David Cameron struggles to accommodate euroskeptics in his own party, trade experts warn that quitting the European Union would force Brita...

  2. Novartis Considers Possible Bid for Actavis

    A heated takeover battle has erupted around generic-drug company Actavis Inc. (ACT) as industry players seek to shore themselves up amid increasing competition and f...

  3. Treasury Moves to Buy Time Under Debt Ceiling

    The U.S. Treasury on Wednesday announced the first of a potential series of emergency cash measures to allow the government to keep paying the nation's bills once a ...

  4. MARKET SNAPSHOT: U.S. Stocks Rise For Another Record Close

    U.S. stocks rose Wednesday, with hopes for ongoing central-bank stimulus bolstering sentiment amid economic reports illustrating a contraction in manufacturing."It s...

  5. When Can You Dip Into Your Roth IRA?

    You've been saving diligently for your retirement, but now you need some of that cash to cover today's expenses. Can you get to it without incurring Uncle Sam's tax ...

  6. MARKET SNAPSHOT: U.S. Stocks Rise; Another Record Close Possible

    U.S. stocks mostly rose Wednesday, with hopes for ongoing central-bank stimulus-bolstering sentiment amid economic reports illustrating a contraction in manufacturin...

  7. MARKET SNAPSHOT: Stocks Turn Higher As Builder Sentiment Rises

    U.S. stocks turned higher Wednesday after a gauge of home-builder sentiment gained in May, offsetting an unexpected contraction in New York-area manufacturing.Wednes...

  8. EU Leaders Say Deficit Targets Should Factor in Economic Woes

    The leaders of France and the European Union's executive body said the euro zone should remain open to relaxing budget restrictions in tough economic times after pre...

  9. MARKET SNAPSHOT: U.S. Stocks Trim Drop; Builder Sentiment Rises

    U.S. stocks moderated Wednesday losses after a gauge of home-builder sentiment gained in May, offsetting an unexpected contraction in New York-area manufacturing.The...

  10. MARKET SNAPSHOT: U.S. Stocks Edge Lower As Data Disappoint

    U.S. stocks declined on Wednesday, retreating a day after another record-setting rally, as data showed an unexpected contraction in New York-area manufacturing.The N...

  11. Gold Tumbles 1% as Dollar Advances

    Gold fell for the fifth straight session on Wednesday, hitting a three-week low as the dollar strengthened to a six-week high versus the euro after weak euro zone ec...

  12. Asian Shares Mixed, Nikkei Hits Fresh High

    Yen weakness pushed the Nikkei above 15,000 points for the first time in more than five years, with Sony Corp. jumping on a proposal to spin off its entertainment bu...

  1. What If There Was No IRS?

    "The third agency of government I would – I would do away with [is] Education, Commerce and, let's see. I can't. The third one, I can't. Sorry. Oops."I bet Texas Gov...

  2. Greece ETF: An Emerging Markets Star

    Last Friday, the Global X FTSE Greece 20 ETF (NYSE:GREK) surged over five percent on volume that was nearly six times the daily average. Much of that move can be att...

  3. BOE's King Says More Steps Needed for Growth

    The U.K. economy is in recovery but policy makers need to do more to lift growth, Bank of England Gov. Mervyn King said Sunday."We are seeing a recovery. But it's on...

  4. BOE's King: More Needs to Be Done for UK Recovery

    The U.K. economy is in recovery but policy makers need to do more to lift growth, Bank of England Gov. Mervyn King said Sunday."We are seeing a recovery. But it's on...

  5. Risks for Cyprus are 'unusually high', adoption of austerity plan imperative: IMF

    The IMF said on Friday that risks for Cyprus were "unusually high" given its weak banking sector and economy and the island's full adoption of an economic austerity ...

  6. Indonesia Sets Conditions for DBS Stake in Danamon

    Indonesia may allow DBS Group Holdings Ltd. to buy Temasek Holdings Pte. Ltd.'s entire 67% stake in PT Bank Danamon Indonesia if certain conditions are met, Bambang ...

  7. Vedanta Mulls Raising Cairn India Stake But Only After Reducing Debt

    UK-listed, India-focused Vedanta Resources PLC (VED.LN) has a grand vision of raising its stake in majority-owned oil and gas company Cairn India Ltd (532792.BY) by ...

‹ Prev12345Next ›
Freebase CC-BY
Source: Red Ink Week on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL