Government debt

Builders work on ascaffolding in London, Wednesday, June 17, 2020. After the easing of lockdown during the COVID-19 pandemic, most construction companies have restarted their business but official figures show that the British economy shrank by a colossal 20.4% in April, the first full month that the country was in its lockdown. (AP Photo/Frank Augstein)
June 18, 2020 - 10:50 am
LONDON (AP) — The Bank of England unveiled another big stimulus for the U.K. economy as it tries to limit the scale of the coronavirus recession, which it now thinks will be “less severe” than it thought last month. In a statement Thursday, the bank’s policy making panel said it was increasing its...
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This May 22, 2020 photo shows the Federal Reserve building in Washington. The Federal Reserve said Monday, June 15, 2020 that it will begin purchasing corporate bonds as part of a previously-announced program to ensure companies can borrow through the bond market during the pandemic The program will purchase already-issued bonds on the open market and will seek to build a “broad and diversified” portfolio that will mimic a bond-market index. (AP Photo/Patrick Semansky)
June 15, 2020 - 8:35 pm
WASHINGTON (AP) — The Federal Reserve said Monday that it will begin purchasing corporate bonds as part of a previously announced plan to ensure companies can borrow through the bond market during the pandemic. The program will purchase existing bonds on the open market, as opposed to newly issued...
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President Donald Trump listens during a roundtable discussion about "Transition to Greatness: Restoring, Rebuilding, and Renewing," at Gateway Church Dallas, Thursday, June 11, 2020, in Dallas.(AP Photo/Alex Brandon)
June 12, 2020 - 5:51 pm
President Donald Trump said Friday he wants “a new and updated” Republican Party platform after the Republican National Committee voted this week to carry over the 2016 document. But Trump may be stuck with the old platform, which is peppered with jeremiads about the “current administration” that...
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A woman walks past an electronic stock board showing Japan's Nikkei 225 index and New York Dow index at a securities firm in Tokyo Friday, June 12, 2020. Asian shares were moderately lower Friday after an overnight rout on Wall Street as investors were spooked by reports of rising coronavirus cases in the U.S. (AP Photo/Eugene Hoshiko)
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June 11, 2020 - 11:18 pm
Asian shares were moderately lower Friday after an overnight rout on Wall Street as investors were spooked by reports of rising coronavirus cases in the U.S. Fear that a so-called “second wave,” is already coming has punctured bubbling optimism that a quick economic recovery was already underway...
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FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve says it will keep buying bonds, Wednesday, June 10, to maintain low borrowing rates and support the U.S. economy in the midst of a recession. And it says nearly all the Fed’s policymakers foresee no rate hike through 2022. .(AP Photo/Jacquelyn Martin, File)
June 10, 2020 - 6:32 pm
WASHINGTON (AP) — Confronted with an economy gripped by recession and high unemployment, the Federal Reserve signaled Wednesday that it expects to keep its key short-term interest rate near zero through 2022. At the same time, the Fed said it will keep buying about $120 billion in Treasury and...
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Treasury Secretary Steven Mnuchin speaks during a Senate Small Business and Entrepreneurship hearing to examine implementation of Title I of the CARES Act, Wednesday, June 10, 2020 on Capitol Hill in Washington. (Kevin Dietsch/Pool via AP)
June 10, 2020 - 6:14 pm
WASHINGTON (AP) — Treasury Secretary Steven Mnuchin on Wednesday said he believes the U.S. economy will need more help to pull out of the recession, but added that the next round of support should be more targeted to the hardest hit parts of the economy. Mnuchin, testifying before the Senate Small...
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FILE -- In this Thursday, March 12, 2020 file photo the President of European Central Bank Christine Lagarde looks up prior to a press conference following a meeting of the ECB governing council in Frankfurt, Germany. The European Central Bank has boosted its pandemic emergency support program by 600 billion euros to 1.35 trillion euros ($1.5 trillion) in an effort to keep affordable credit flowing to the economy during the steep downturn caused by the virus outbreak. (AP Photo/Michael Probst, file)
June 04, 2020 - 9:03 am
FRANKFURT, Germany (AP) — The European Central Bank has boosted its pandemic emergency support program by an unexpectedly large 600 billion euros to 1.35 trillion euros ($1.5 trillion) in an effort to keep affordable credit flowing to the economy during the steep downturn caused by the virus...
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FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve will issue the first loans under its groundbreaking Main Street Lending program in a “few days,” Powell said Friday, May 29. (AP Photo/Jacquelyn Martin)
May 29, 2020 - 2:21 pm
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell acknowledged Friday that the Fed faces a major challenge with the launch in the coming days of a program that will lend to companies other than banks for the first time since the Great Depression. The Fed's Main Street Lending is geared toward...
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May 27, 2020 - 12:06 am
SAN JUAN, Puerto Rico (AP) — A federal control board that oversees Puerto Rico’s finances prepared to vote Wednesday on a revised fiscal plan as it warned the island’s surplus could plunge by 65% and that the government is unable to pay current debt obligations. The plan will serve as a blueprint...
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May 26, 2020 - 9:59 pm
SAN JUAN, Puerto Rico (AP) — A federal control board that oversees Puerto Rico’s finances said Tuesday that the island could be hit with a deficit earlier than expected and see its surplus plunge by 65% in upcoming years, warning the government cannot afford to pay current debt obligations. The...
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