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Added on the 21/07/2018 08:37:21 - Copyright : Wochit
US Treasury Secretary Janet Yellen meets with Chinese Vice Premier Liu He in Switzerland. Yellen said close communication between the United States and China on economic issues is vital, ahead of the meeting. IMAGES
Beijing, Oct 14 (EFE/EPA).- China's central parity currency, the renminbi (yuan) rose 28 pips to 6.4386 against the US dollar on Friday. (Camera: WU HONG). SHOT LIST: WORKERS AT A WELDING PRODUCTION LINE AT THE SANY BEIJING ROTARY DRILLING RIG PLANT DURING A GOVERNMENT-ORGANIZED TRIP FOR JOURNALISTS, IN BEIJING, CHINA.
White House negotiations with Democrats over another pandemic aid bill have come to naught so far. Congress left town on Tuesday without passing another one, as virus cases surge across the nation, and the economic recovery threatens to grind to a halt. Business Insider reports that the prospect of more coronavirus aid is uncertain during a 'lame-duck session.' Such a session takes place in an even-numbered year, between the general election and the first session of the new Congress. The next deadline Congress faces is December 11. It must approve another spending bill to prevent a government shutdown. President Donald Trump supports another stimulus package. But his position has veered from cutting off relief negotiations to pressing for more money than Democrats.
US Senate Majority Leader Mitch McConnell (R-Ky.) has made it clear he isn't fond of the most recent $2.2 trillion Democratic stimulus plan. On Wednesday, Business Insider reports McConnell called it 'outlandish,' saying 'We're very, very far apart on a deal.' The plan included restoring the $600 federal unemployment benefit until January, another round of $1,200 direct payments to taxpayers. Sen. McConnell tore into the Democratic proposal, calling it a 'stunt,' and accused Democrats of 'refusing to get serious.' Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi met for 90 minutes on Thursday to discuss a possible compromise.
China’s central bank has been gently letting the yuan weaken after announcing last week it would manage the currency based on a basket of currencies rather than just the U.S. dollar. Meg Teckman reports.
The International Monetary Fund admitted the yuan into the SDR basket of currencies on Monday and the People’s Bank of China has pledged to keep the currency stable as it vies to be a major economic player. Meg Teckman reports.
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