economic outlook and current fiscal issues

hearing before the Committee on the Budget, House of Representatives, One Hundred Ninth Congress, first session, hearing held in Washington, DC, March 2, 2005 by United States. Congress. House. Committee on the Budget

Publisher: U.S. G.P.O., Publisher: For sale by the Supt. of Docs., U.S. G.P.O. in Washington

Written in English
Published: Pages: 49 Downloads: 617
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Subjects:

  • Monetary policy -- United States,
  • Fiscal policy -- United States,
  • United States -- Economic conditions -- 2001-,
  • United States -- Economic policy -- 2001-
The Physical Object
Paginationiii, 49 p. ;
Number of Pages49
ID Numbers
Open LibraryOL17153107M
ISBN 100160746094
LC Control Number2005619240

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Federal deficits, Government budgets, US economic outlook: these issues are top-of-mind for all Americans, from economists and politicians to the average citizen. In this category, you will find proposed budgets from the President, economic outlook and budget analysis reports by Congress and other Federal agencies, and final approved Federal budget documents as passed by ations. The Current Global Economic Situation, Outlook and Policy Options, with Special Emphasis on Fiscal Policy Issues. Even as fiscal policymakers address the urgent issue of fiscal sustainability, a second objective should be to avoid unnecessarily impeding the current economic recovery. Indeed, a severe tightening of fiscal policy at the beginning of next year that is built into current law--the so-called fiscal cliff--would, if allowed to occur, pose a.   Fiscal policy works in both directions – trying to cut deficits when the economy is below full employment will reduce economic growth (and vice versa). 2. Monetary policy does little to stimulate real spending in a monetary economy and can not offset contractionary movements in fiscal policy.

Global growth is projected at percent in , just above the post-crisis low registered last year. While growth could be stronger if reduced trade tensions mitigate uncertainty, the balance of risks is .   Australia’s economy slowed in –19 due to a housing downturn and a severe drought. But economic growth is expected to pick up on the back of monetary and fiscal stimuli, which is likely to boost household income and consumer spending. The last three months have given Australians plenty to talk about. The May federal election saw the. It said the economic shock from the pandemic and the fiscal policy response will result in significant slippage from the per cent fiscal deficit target in current fiscal.

economic outlook and current fiscal issues by United States. Congress. House. Committee on the Budget Download PDF EPUB FB2

The outlook for the economy and current fiscal issues. I want to emphasize that I speak for myself and not necessarily for the Federal Reserve. As you know, the U.S. economy appears to have made the transition from a period of subpar growth to one of more vigorous expansion.

Real gross domestic product (GDP) rose briskly in the second half. The U.S. economy delivered a solid performance inand thus far this year, activity appears to be expanding at a reasonably good pace.

However, the positive short-term economic outlook is playing out against a backdrop of concern about the prospects. The COVID pandemic is inflicting high and rising human costs worldwide, and the necessary protection measures are severely impacting economic activity.

As a result economic outlook and current fiscal issues book the pandemic, the global economy is projected to contract sharply by –3 percent inmuch worse than during the –09 financial crisis.

Get this from a library. Economic outlook and current fiscal issues: hearing before the Committee on the Budget, House of Representatives, One Hundred Eighth Congress, second session, hearing held in Washington, DC, Febru [United States.

Congress. House. Committee on the Budget.]. The Economic outlook and current fiscal issues: hearing before the Committee on the Budget, House of Representatives, One Hundred Eighth Congress, second session, hearing held in Washington, DC, September 8, High Debt Hampers Countries’ Response to a Fast-Changing Global Economy.

New Data on Global Debt, January 2, Current Fiscal Issues. Fiscal Monitor: How to Mitigate Climate Change (October ) The October edition of the Fiscal Monitor focuses on the design of fiscal policies for climate mitigation at the domestic and international. Short-term Economic and Budgetary Outlook Short-term economic prospects remain generally favourable, although recent exchange rate realignments, if sustained, have the potential to de-rail the recovery in certain sectors and regions.

Table 1: summary – main economic and fiscal variables, per cent change (unless stated)File Size: 2MB. The U.S. economic outlook appears healthy according to the key economic indicators. Most were released before the impact of the COVID coronavirus pandemic. Economic outlook and current fiscal issues book indicators tell you what's already happened, not what the future holds.

The disease is spreading so fast that the impact has not yet shown up in most indicators. Monetary and fiscal issues. Find Latest Interim Economic Outlook Still-elevated risk-taking and high debt levels in many countries raise financial vulnerabilities.

Monetary policy normalisation could also result in greater volatility of exchange rates and capital flows, particularly in emerging market economies. The Economic Outlook and Fiscal Policy Choices View more presentations from Congressional Budget Office.

Policymakers cannot reverse all of the effects of the housing and credit boom, the subsequent bust and financial crisis, and the deep recession. Fiscal Outlook C Fiscal Outlook C Debt Analysis and Funding Position C Structural Budget Balance and Medium Term Budgetary Objective (MTO) C 4: Statement of Risks and Sensitivity Analysis C Summary C Risks to the Economic File Size: 2MB.

Outlook and Vulnerabilities. The economic impact will be substantial, with the region contracting in by an average of percent. Most countries have revised growth down by more than 4 percentage points in one year, equivalent to removing $ billion from the region’s total output.

Argentina Economic Outlook. Ap After the economy closed on a sour note, hit by plunging domestic demand, short-term prospects have deteriorated drastically amid the Covid pandemic and the strict containment measures imposed to curb its spread.

The weakening of the Chinese economy due to reduced consumer spending and activity as well as reduced industrial production has led to calls for fiscal stimulus.

Already, the government is running a fiscal deficit close to percent of GDP. It is expected that, at the National People’s Congress in March, a larger target deficit will be. CBO's Budget and Economic Outlook, typically produced in January each year and updated in August, includes an economic forecast and projections of spending and revenues under current law—known as baseline projections—over the next 10 also updates its budget projections each spring in conjunction with its analysis of the President's budgetary proposals.

The OECD Economic Outlook is the OECD’s twice-yearly analysis of the major economic trends and prospects for the next two years. Prepared by the OECD Economics Department, the Outlook puts forward a consistent set of projections for output, employment, government spending, prices and current balances based on a review of each member country and of the induced effect on.

Committee on the Budget U.S. House of Representatives Febru Mr. Chairman and members of the committee, I am pleased to be here today and to offer my views on the outlook for the economy and current fiscal issues.

I want to emphasize that I speak for myself and not necessarily for the Federal Reserve. Loretta J. Mester, President and Chief Executive Officer, Federal Reserve Bank of Cleveland — The Outlook for the Economy and Monetary Policy in — 36th Annual NABE Economic Policy Conference, Washington, DC — Febru Author: Loretta J.

Mester. Economic Outlook and Current Fiscal Issues: Testimony before the Committee on the Budget, U.S. House of Representatives DATE: March 2, PART OF: Statements and Speeches of Alan Greenspan AUTHORS: Board of Governors of the Federal Reserve System (U.S.), Greenspan, Alan, Download (pdf).

The World Economic Outlook (WEO) presents the IMF staff's analysis and projections of economic developments at the global level, in major country groups (classified by region, stage of development, etc.), and in many individual countries.

It focuses on major economic policy issues as well as on the analysis of economic developments and prospects. In terms of the economic outlook, ongoing momentum heading into this year indicates that that above-trend growth is likely to continue in If the economy continues to grow in along the lines that I expect, in July the current expansion will become the longest in recorded U.S.

history. A Profound Economic Event. The coronavirus pandemic has rapidly evolved into a profound economic event. We expect second quarter real GDP in the U.S. to contract at the fastest rate recorded since World War II. Likewise, we expect the U.S. unemployment rate to peak late this year at a post-WWII record of near 15 percent.

The Congressional Budget Office estimates that current federal fiscal policies will have little effect on economic growth this year, but that earlier fiscal policy actions reduced the rate of real GDP growth roughly /2 percentage points in and about 1/4 percentage point in relative to what it would have been otherwise.

The World Economic Outlook presents the IMF staff's analysis and projections of economic developments at the global level, in major country groups (classified by region, stage of development, etc.), and in many individual countries. It focuses on major economic policy issues as well as on the analysis of economic developments and prospects.

The current economic recovery in Brazil is a slow one. While monetary easing and key fiscal reforms have brought back some confidence in the economy, any strong uptick in economic growth will likely depend on further fiscal healing and reforms.

The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances.

Coverage is provided for all OECD member countries as well as for selected non-member countries. "Economic outlook and current fiscal issues: testimony before the Committee on the Budget, U.S. House of Representatives, March 2, ," Spe Board of. If current laws remained generally unchanged, deficits would follow an upward trajectory over the next decade, driving up federal debt.

CBO projects moderate economic growth during that period. Subsequent projections appear in Budget and Economic Outlook and Updates. In fiscal yearfor the first time sincethe federal budget deficit. Chairman Conrad, Senator Sessions, and other members of the Committee, thank you for this opportunity to offer my views on current economic conditions, recent monetary policy actions, and issues related to the federal budget.

The Economic Outlook. For the U.S. economy, while the risks and uncertainty surrounding the outlook have increased in the wake of the U.K. vote, FOMC members will be taking the time up to our July meeting to continue to evaluate whether conditions in the aftermath of the decision and other economic and financial developments will necessitate a material change in the Author: Loretta J.

Mester. But first, let me start with a brief take on the current economic outlook. There is much to be encouraged by in the nation's current economic performance even as some notable risks require careful monitoring. The labor market continues to perform remarkably well, providing a key pillar of support for the rest of the economy.Senate Fiscal Agency MICHIGAN'S ECONOMIC OUTLOOK AND BUDGET REVIEW FYFYFYand FY To prepare special reports on fiscal issues as they arise and at the request of members before book -closing.

If the FY numbers change because of final supplemental spending and other book -closing issues.The Economic Outlook and Monetary and Fiscal Policy to offer my views on the economic outlook, monetary policy, and issues pertaining to the federal budget.

to fall from its current level.