Greenspan warns trade deficits threaten U.S. economy
Fed Chair Alan Greenspan warns that persistent U.S. current account deficits could pose risks as foreigners might lose interest in dollar assets. He notes the deficit reached 166.2 billion dollars in the second quarter and cautions against complacency despite the economy's resilience.
MENTIONED IN THIS ARTICLE
Washington, D.C
U.S
Federal Reserve
Alan Greenspan
Greenspan
Frankfurt
Germany
Washington
United States
Greenspan warns rising trade gaps threaten economy
Federal Reserve Chairman Alan Greenspan warned that widening U.S. trade deficits could hurt growth as the current account balance hit a record 166.2 billion dollars in Q2. He cited a weak dollar and rising rates, noting uncertainty about how deficits will adjust and where the dollar will land. Stocks fell on the news with the Dow down over 100 points.
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Wall Street
Greenspan
U.S
Lawmakers Agree On 577 Million To Keep Yucca Waste Project Alive
Lawmakers reached a funding compromise to sustain the Yucca Mountain nuclear waste program with 577 million dollars this fiscal year, far below the 880 million the Energy Department sought. The plan keeps the project alive but omits a resolution on radiation protection standards, risking later closure if unresolved. The White House and Congress must resolve the court-ordered standards and EPA revisions as the 2010 opening appears unlikely. Reid opposes changes to radiation requirements and plans to fight any alteration. The project aims to store 70,000 tons of waste near the Nevada Test Site with plans for a 2010 transportation program.
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D-Nev
Reid
Senate
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Tracey Kenworthy
Priscilla Denelly
SCARE
National Association of Realtors
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Bea
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