Federal Budget News
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As Japan’s cherry trees bloomed and the stock market soared, Kohetsu Watanabe flew to a blossom- viewing party in Tokyo hosted by Prime Minister Shinzo Abe to tell the premier personally how bad things really are.
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Federal Reserve policy makers say they want to avoid a sudden increase in interest rates when the time comes to start unwinding record monetary easing. A shrinking federal budget deficit is likely to help them meet that goal.
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The Standard & Poor’s 500 Index retreated from a record amid concern the Federal Reserve will scale back its stimulus efforts. Gold and silver advanced as Moody’s Investors Service warned the U.S. rating may be cut. The yen rebounded from the weakest level since 2008.
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Home sales probably rose in April to the highest level in more than three years, extending gains in residential real estate that are giving the U.S. expansion a lift, economists said before reports this week.
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The index of U.S. leading indicators climbed in April, a rebound from March that suggests the world’s largest economy will accelerate later this year.
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More Americans than projected filed claims for jobless benefits last week and manufacturing in the Philadelphia region unexpectedly shrank in May, signs the slowdown in growth is rippling through the U.S. economy.
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Russia’s government is split over charging the central bank to support the economy as part of efforts to revive growth, leaving President Vladimir Putin to decide, according to an official familiar with the proposals.
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Industrial production declined in April by the most in eight months, indicating American manufacturers will provide little support for an economy beset by weaker global markets and federal budget cuts.
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U.S. stocks rose, pushing benchmark indexes to fresh records, as data showing weakness in manufacturing fueled bets the Federal Reserve will be in no hurry to scale back stimulus.
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Enrollment in the U.S.-funded Medicare plans run by UnitedHealth Group Inc., Humana Inc. and other insurers may rise 50 percent in the next decade rather than declining as predicted earlier, U.S. budget analysts said.
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