Economy
04 October 2008 Financial Rescue Bill Boosts Hope as Bush Signs It into Law The president signed into law a $700 billion financial rescue bill within hours of its passage by the House of Representatives. The congressional chamber reversed itself October 3 and approved a revised version of the $700 billion rescue it had rejected four days earlier.
• President's Radio Address
02 October 2008 U.S. Senate Endorses Financial Rescue Plan The U.S. Senate approved a revised version of the $700 billion plan to shore up the U.S. and global financial systems, reviving hope that the measure will be passed by the other congressional chamber, which rejected the plan days earlier. Senators voted overwhelmingly October 1 in favor of the bill.
01 October 2008 Statement by the President on Senate Vote in Favor of the Financial Rescue Plan
01 October 2008 Treasury Official at Foreign Press Center on Financial Turmoil Under Secretary McCormick briefs on U.S. actions to stabilize markets.
30 September 2008 Corruption Worldwide Remains High Despite Reforms Despite increasing government oversight, corruption continues to be widespread throughout Southeastern Europe and Central Asia, according to a new report released by Transparency International, a nongovernmental anti-corruption group with offices worldwide.
30 September 2008 President Bush on the Economic Rescue Plan Bush urges Congress to act.
29 September 2008 House of Representatives Rejects Massive Financial Rescue Plan The U.S. House of Representatives rejected the initial version of a $700 billion plan to shore up the U.S. and global financial systems, which have been jeopardized by the fallout from the U.S. mortgage crisis.
28 September 2008 Statement by the President on Bipartisan Agreement on Economic Rescue Legislation
27 September 2008 President's Radio Address
24 September 2008 President's Address to the Nation on the Financial Crisis President Bush said, “Our economy is facing a moment of great challenge. But we've overcome tough challenges before -- and we will overcome this one ... together, we will show the world once again what kind of country America is -- a nation that tackles problems head on, where leaders come together to meet great tests, and where people of every background can work hard, develop their talents, and realize their dreams.”
24 September 2008 U.S. Partners May Act Individually on Global Financial Woes U.S. Treasury Secretary Henry Paulson and other U.S. officials have been trying to persuade governments of developed countries to help the American effort to clean up the balance sheets of banks with bad loans.
22 September 2008 Statement by the President on Legislation to Address Crisis in Financial Markets "Over the weekend, members of my Administration and congressional leaders worked on legislation to address the crisis in our Nation's financial markets. They made good headway toward a bill that can pass the House and Senate in a timely manner, and the American people appreciate their efforts."
• Fact Sheet: Confronting Economic Challenges Head On
22 September 2008 G7 Finance Ministers, Central Bank Governors on Financial Turmoil The G-7 held a conference call today to discuss global financial markets. We reaffirm our strong and shared commitment to protect the integrity of the international financial system and facilitate liquid, smooth functioning markets, which are essential for supporting the health of the world economy.
19 September 2008 Bush Seeks Quick Congressional Action on Financial Crisis Saying "hundreds of billions" of taxpayer dollars are needed to buy bad mortgage loans and shore up the U.S. financial system, Treasury Secretary Henry M. Paulson Jr. pledged to spend the weekend of September 20 working with Congress on legislation he hoped would be passed as early as the following week.
• Statement by President Bush on U.S. Economy
18 September 2008 Central Banks Pump Billions into Short-Term Credit The U.S. Federal Reserve, in coordination with other central banks, has taken steps to provide additional funds to support financial markets after bank lending froze to nearly a standstill, threatening the stability of the global economy, President Bush said.
• Statement by Bush on U.S. Economy and Financial Markets
17 September 2008 Federal Reserve Holds Funds Rate Steady Amid Market Turmoil The Federal Reserve is keeping its critical benchmark interest rate steady at 2 percent. The move comes amid global financial market turbulence stemming from the announcement that the major investment banking firm Lehman Brothers was seeking bankruptcy protection."
16 September 2008 Bush Says U.S. Markets are Flexible, Resilient The Federal Reserve is keeping its critical benchmark interest rate steady at 2 percent. The move comes amid global financial market turbulence stemming from the announcement that the major investment banking firm Lehman Brothers was seeking bankruptcy protection.
07 September 2008 Statement by the President on appointing new leadership by the Federal Housing Finance Agency "Today, the Federal Housing Finance Agency (FHFA), the regulator of Fannie Mae and Freddie Mac, determined that these housing mortgage companies cannot continue to operate safely and soundly, and fulfill their public mission -- posing an unacceptable risk to the broader financial system and our economy. FHFA announced that it will place the companies in conservatorship and appoint new leadership."
• Statement by Secretary Henry M. Paulson, Jr. on Treasury and Federal Housing Finance Agency Action to Protect Financial Markets and Taxpayers
08 July 2008 G8 Declaration on the World Economy
16 June 2008 Treasury Removes 60 Names from Narcotics Traffickers List The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today removed from its list of Specially Designated Narcotics Traffickers 60 individuals who, since their designation, have severed ties with Colombia's notorious Cali drug cartel and are assisting Colombian authorities.
15 May 2008 Global Financial Markets Today and the U.S. Response Remarks by Reuben Jeffery III, Under Secretary of Economic, Energy and Agricultural Affairs to the British-American Business Council in London.
11 April 2008 Rising Global Food Prices Likely to Continue, Say Experts Sharply rising costs for food staples and fuel are leading to deadly clashes in impoverished countries and likely will continue for some time, say international experts. "The problem is very serious around the world due to severe price rises and we have seen riots in Egypt, Cameroon, Haiti and Burkina Faso," says Jacques Diouf, director-general of the U.N.'s Rome-based Food and Agriculture Organization.
07 April 2008 Debate Begins over U.S. Government Role in Capital Markets A Bush administration proposal for sweeping financial institution regulatory reform is stirring debate about the role of government in capital markets. Almost all experts, both inside and outside government, agree that the current system, a patchwork of poorly coordinated agencies with often overlapping authorities, is convoluted and inefficient. Some of the agencies date back to the Civil War of the 1860s, although most were established during the Great Depression in the 1930s. The experts say these agencies have not kept pace with globalization and evolution of the financial industries. Many believe that gaps in the regulatory system have allowed troubles in the capital markets to reach crisis proportions before regulators could notice them and react.
04 April 2008 Federal Reserve's Moves Calm Markets, Create Controversy Unorthodox steps taken by the U.S. Federal Reserve have calmed the troubled capital markets but have brought on a debate about the central bank's future role, according to experts. In mid-March, the central bank took the most dramatic action since the housing and related credit crises erupted in 2007. It facilitated a takeover of Bear, Stearns and Company Inc. -- a faltering Wall Street investment firm -- and at an emergency meeting cut the interest rate on direct loans to banks. Also, for the first time since the 1930s, the central bank provided access to short-term borrowing through its "discount window" to investment houses it does not regulate.
14 March 2008 President Bush Visits the Economic Club of New York
26 January 2008 President Bush Previews the Main Themes of the 2008 State of the Union Address
24 January 2008 Economic Growth Decline Predicted for 2008, with Rebound in 2009 The pace of U.S. economic growth will slow somewhat through 2008, and an economic rebound is likely to begin early in 2009 as the housing and financial sectors improve, says a Congressional Budget Office forecast. Peter Orszag, director of the nonpartisan Congressional Budget Office, said in testimony before several congressional budget and finance committees that the current economic weakness was created by tight credit, a housing crisis and rising oil prices. The CBO provides Congress at least two economic outlook forecasts annually.
24 January 2008 Fact Sheet: New Growth Package Meets Criteria to Keep Our Economy Healthy Today, President Bush announced his Administration reached a bipartisan agreement with House leadership on an economic growth package, and he encouraged Congress to deliver a bill to his desk as soon as possible to bolster the economy this year. The President's advisors and many outside experts expect that our economy will continue to grow over the coming year, but at a slower rate than we have enjoyed for the past few years – and there is the risk of a downturn. The agreement reached today meets the criteria the President set forward last week to provide an effective, robust, and temporary set of incentives to protect the health of our economy and encourage job creation.
22 January 2008 Bush, Congressional Leaders Meet on Economic Stimulus Package President Bush and congressional leaders agree that a short-term, temporary set of economic measures is needed to stimulate the U.S. economy at a time of slowing growth. They share a sense of urgency to get money into the economy quickly, Treasury Secretary Henry Paulson says.
18 January 2008 U.S. Economy Is Fundamentally Strong, President Says President Bush and Federal Reserve Chairman Ben Bernanke have emphasized to world economic markets that the U.S. economy remains fundamentally resilient and concerns about a slowdown in growth could be ameliorated by a short-term stimulus package.
• President Bush Discusses Economy, Growth Package
• Fact Sheet: Taking Action to Keep Our Economy Healthy
17 January 2008 Statement of Ben Bernanke, Chairman of the Board of Governors of the Federal Reserve System before the U.S. House of Representatives Committee on the Budget (PDF, 8 pages).
01 November 2007 U.S. Economy Ranks as World’s Most Competitive The U.S. economy has regained its ranking as the world's most competitive, largely as a result of its efficient markets and corporate innovation, according to a major report.
17 October 2007 Finance Officials Challenged by Turbulent Economic Conditions The finance ministers and central bank governors from the Group of Seven (G7) countries must address a growing credit crisis and other challenges that experts say could cause a downturn in the global economy.
09 October 2007 Roundtable With Secretary Rice and Trade and Economic Journalists
20 September 2007 New $5 bill unveiled The U.S. government digitally unveiled a new, more secure design for the $5 bill that will be issued and enter circulation in early 2008.
11 July 2007 President Bush Discusses the Budget
26 June 2007 Charitable Donations by Americans Reach Record High Americans increased their charitable donations significantly in 2006 to more than $295 billion -- a record, according to a study released by the Giving USA Foundation, which reports on charitable contributions.
27 April 2007 All Countries Can Gain from Globalization, Strong Institutions Even the least developed countries can accelerate growth and poverty reduction by embracing trade and building strong institutions, a U.S. central bank governor says. Opening domestic markets to foreign goods weakens the political power of entrenched business interests and frees financial resources for investment by reducing corruption, said Frederic Mishkin, a member of the Board of Governors of the Federal Reserve System.
19 April 2007 U.S. Presses for Broader Use of Targeted International Sanctions The United States is expanding its use of targeted sanctions aimed at halting nuclear proliferation, terrorism and money laundering, and encouraging other countries to do likewise, U.S. officials say.
15 April 2007 Treasury Chief Says IMF Must "Re-Invent Itself" To Stay Relevant U.S. Treasury Secretary Henry Paulson has expanded his call for far-reaching reform of International Monetary Fund policies and procedures, most critically in the area of foreign exchange surveillance.
12 April 2007 U.S. Seeks Boost in Monetary Fund Currency Market Surveillance The International Monetary Fund needs to boost its surveillance of currency markets and better adapt to the increase of dynamic, emerging economies, says Treasury Under Secretary Timothy Adams.
04 April 2007 IMF Urged To Engage Private Sector To Avert Financial Instability Geopolitical instabilities, large trade imbalances and increased use of new, untested financial instruments are putting pressure on global financial markets and call for more cooperation among governments, public institutions and the private sector, says a leading financial organization in Washington.
23 March 2007 Assistant Secretary David Bohigian Visits UK to Launch “Invest in America”
26 March 2007 Invest in America David Bohigian Assistant Secretary for Market Access and Compliance at the Dept. of Commerce, talks about “Foreign Direct Investment in the US.” at the U.S. Embassy in London
 (MP3 4 MIN 11 SEC)
23 March 2007 Assistant Secretary David Bohigian Visits UK to Launch “Invest in America”
16 March 2007 Russian, Chinese Capital Markets Need Democratic Institutions The U.S. and other democracies can help nondemocratic governments realize that press freedom and the rule of law are essential to healthy capital markets, the head of the U.S. securities regulatory agency says.
06 March 2007 Business Integrity Essential for Healthy Markets, U.S. Official Says Protecting the freedom and integrity of businesses in the U.S. and around the world by fighting corruption and ensuring fair competition are among the top priorities of U.S. federal law enforcement, says U.S. Attorney General Alberto Gonzales.
01 March 2007 U.S. Treasury Secretary Warns Against Economic Isolationism Free trade remains the cornerstone of U.S. economic success and the main tool for expanding global prosperity, says Treasury Secretary Henry Paulson.
14 February 2007 Oil Prices Likely To Remain High, Says U.S. Central Bank U.S. oil prices have dropped considerably over the last six months, but are likely to remain at historically elevated levels in 2007 due to political uncertainties affecting supplies, according to the U.S. Federal Reserve’s semi-annual report to Congress on monetary policy.
31 January 2007 President Bush Delivers State of the Economy Report
30 January 2007 Transnational Capital Markets Challenge U.S., European Regulators As global financial markets become integrated and crossborder capital flows become easier, securities regulators are struggling to maintain investor protection while encouraging international foreign direct investment.
28 November 2006 Treasury Secretary Hank Paulson's Speech To CBI Annual Conference 2006 The United States and Great Britain have enjoyed a close bond for many years. This relationship is built on a foundation of shared principles and values rooted in individual, political, and economic freedom. Among these are strong support for free markets and confidence in the power of trade and commerce to improve lives.
The U.S. Budget FY 2009
Terrorist Financing
Money Laundering
The 2008 Economic Report of the President
Treasury Bulletin
The Treasury Bulletin is
issued quarterly by the US Department of the
Treasury. It provides information on Treasury issues and Federal financial
operations through special reports, tables and charts.
Each issue contains a useful Profile of
the Economy and a summary of economic indicators including GDP and consumer prices.
| 
Economy
