Sections SEARCH Skip to content Skip to site index New York Subscribe Log In Subscribe Log In Advertisement Supported by ByLisa W. Foderaro July 22, 2018 GROTON, Conn. — In the race for governor of Connecticut, there is one thing every candidate seems to agree on: The state’s economy is in serious disrepair. “Most folks on both sides don’t think Connecticut is working,” said Ned Lamont, who has the Democratic endorsement for governor. The Republican designee, Mark D. Boughton, echoed that assessment: “It’s puzzling as to how and why and where we lost our way, but we lost our way.” For a state that is still viewed — in the popular imagination, anyway — as a prosperous bedroom community, Connecticut has its share of serious problems. There’s negative economic growth, urban poverty, multibillion-dollar budget deficits and the flight of corporations to other states. Which … [Read more...] about Candidates for Connecticut Governor Agree It’s the Economy, Stupid
Economy
Hawaii town hopes lava tourism will help economy
HONOLULU (AP) — Stunning images of Hawaii’s erupting Kilauea volcano have captivated people around the world. But ironically it’s nearly impossible for residents and visitors on the ground to see the lava — a fact that’s squeezing the tourism-dependent local economy. Big Island businesses are calling for a lava viewing site, but authorities say they’re finding it difficult to set one up while keeping people safe. The risks posed by the volcano came into sharp focus this week when lava flowing into the ocean triggered an explosion that sent a hot rock the size of a basketball crashing through a tour boat’s roof. One woman broke her leg, while nearly two dozen others suffered minor burns and scrapes. Diane Ley, Hawaii County’s director of research and development, said she’s been working on setting up a lava viewing site for nearly two months, consulting with federal scientists and the county’s civil defense administrator. The … [Read more...] about Hawaii town hopes lava tourism will help economy
Tariffs Will Hurt Economy, IMF Warns, as Trump Threatens More
BUENOS AIRES — The International Monetary Fund warned world economic leaders on Saturday that a recent wave of trade tariffs would significantly harm global IMF Managing Director Christine Lagarde said she would present the G-20 finance ministers and central bank governors meeting in Buenos Aires with a report detailing the impacts of the restrictions already announced on global trade. "It certainly indicates the impact that it could have on GDP [gross domestic product], which in the worst case scenario under current measures ... is in the range of 0.5 percent of GDP on a global basis," Lagarde said at a joint news conference with Argentine Treasury Minister Nicolas Dujovne. In the briefing note prepared for G-20 ministers, the IMF said global growth might peak at 3.9 percent in 2018 and 2019, while downside risks have increased because of the growing trade conflict. Her warning came shortly after the top U.S. economic official, Treasury Secretary Steven Mnuchin, told … [Read more...] about Tariffs Will Hurt Economy, IMF Warns, as Trump Threatens More
Overall U.S. economy not harmed by trade battles, Mnuchin says
BUENOS AIRES, Argentina — U.S. Treasury Secretary Steven Mnuchin said Saturday that the overall U.S. economy has not been harmed by the trade battles set off by President Donald Trump's get-tough policies although some individual sectors have been hurt. He said the administration was exploring ways to help farmers and other specific industries that have been affected. Mnuchin spoke to reporters on the sidelines of meetings of finance ministers and central bank presidents from the Group of 20 nations, composed of traditional economic powers such as the United States, Japan and Germany and emerging economic powers including China, Brazil, India and Argentina. Mnuchin said that there had not been an adverse effect on overall growth from the tariffs but that certain industries were being harmed because other countries were retaliating by targeting specific industries. "Certain countries have targeted very specific levels of things that are not coincidental," Mnuchin told reporters. … [Read more...] about Overall U.S. economy not harmed by trade battles, Mnuchin says
Mnuchin: Overall US economy not harmed by trade battles
BUENOS AIRES, Argentina (AP) — U.S. Treasury Secretary Steven Mnuchin says the overall U.S. economy has not been harmed by the trade battles set off by President Donald Trump's get-tough policies although some individual sectors have been hurt. He says the administration was exploring ways to help farmers and other specific industries that have been affected. Mnuchin spoke to reporters Saturday on the sidelines of meetings of finance ministers and central bank presidents from the Group of 20 nations, composed of traditional economic powers such as the United States, Japan and Germany and emerging economic powers including China, Brazil, India and Argentina. Mnuchin said that there had not been an adverse effect on overall growth from the tariffs but that certain industries were being harmed because other countries were retaliating by targeting specific industries. Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or … [Read more...] about Mnuchin: Overall US economy not harmed by trade battles