US Trade Deficit No Cause for Alarm-Evans
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U.S. Commerce Secretary Don Evans on  Tuesday brushed off financial market concerns about America's  massive trade deficit and stressed that a recent sharp uptick  was fueled in part by surging energy prices.
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WASHINGTON (CBS.MW) - A strong euro and a strong hurricane helped cut the US trade deficit by 3.7 percent to $51.6 billion in September.
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The U.S. trade deficit declined slightly in July, helped by record exports that offset the biggest foreign oil bill in nearly a year. But even a spate of recalls did not stop the deficit with China from climbing to the second-highest level on record.
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U.S. budget deficits pose a problem for both the domestic and world economies, but there seems little political will to fix them, Federal Reserve Board Governor Edward Gramlich said on Saturday.
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The US trade deficit widened to $54 billion in August, the second-highest in a string of record monthly trade gaps that shows no sign of abating.
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The record level of debt being carried by American households and soaring home prices do not appear to represent serious threats to the US economy, Federal Reserve Chairman Alan Greenspan said Tuesday.
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The U.S. current account deficit shrank more than expected in the fourth quarter of 2006 to $195.8 billion, as lower oil prices took a bite out of imports and U.S. exports continued to rise, a Commerce Department report showed on Wednesday.
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WASHINGTON - The US trade deficit continues to swell to new records, hitting $55.5 billion US in October. The US Commerce Department said Tuesday that the trade deficit grew by 8.9 per cent from September, even
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Federal Reserve chief Alan Greenspan says the US trade deficit cannot be sustained indefinitely.
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Sharp falls on the currency markets have not jolted Washington's commitment to a strong dollar, the Treasury says.
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ALBUQUERQUE, N.M.  - High oil prices will probably  brake U.S. growth but will not derail the economy provided  there is not another sharp spike upwards, a top Federal Reserve  policymaker said on Tuesday.
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The U.S. trade deficit, propelled by a record foreign oil bill, surged to $54 billion in August, the second highest level in history. The politically sensitive deficit with China hit a new high as American retailers upped their orders for cell phones, toys and televisions.
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Record consumer debt won't become ''destabilizing&quot; to the US economy so long as there isn't a ''significant fall&quot; in home prices or household incomes, an unlikely prospect, Federal Reserve chairman Alan Greenspan said.
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A top European Union (EU) economic official said on Monday that the current level of the euro against the US dollar posed no threat to the eurozone economic recovery.
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ALBUQUERQUE, N.M.  - High oil prices will probably  brake U.S. growth but will not derail the economy provided  there is not another sharp spike upward, a top Federal Reserve  policymaker said on Tuesday.
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Federal Reserve chairman Alan Greenspan says the US is on track to stabilise and even reduce the trade deficit.
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High oil prices will probably brake U.S. growth but will not derail the economy provided they do not rise sharply from current levels, top Federal Reserve policymakers said on Tuesday.