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Global Trade Imbalances
This report discusses the International Monetary Fund's (IMF) July 2018 report on global trade imbalances that identifies countries with "excessive" current account balances and exchange rates that are "misaligned." The current account is a broad measure of a country's global economic engagement and is comprised of trade in goods, services, and official flows.
Federal Reserve: Legislation in the 115th Congress
The Federal Reserve (Fed) is the subject of legislation being considered in the 115th Congress. This report analyzes Fed bills that have seen committee or floor action and the policy debate surrounding them. The bills contain wide-ranging changes that can be grouped into five broad categories: Fed governance, oversight and disclosure, monetary policy rules (the Taylor Rule), the Fed's emergency lending powers, and the Fed's balance sheet.
Systemically Important or "Too Big to Fail" Financial Institutions
This report discusses the economic issues raised by "too big to fail" (TBTF) financial firms, broad policy options, and policy changes made by the relevant Dodd-Frank provisions, as amended.
Enforcing U.S. Trade Laws: Section 301 and China
This report discusses the Trump Administration's decision to proceed with a Section 301 case against China's intellectual property rights (IPR) policies and their intent to impose 25% ad valorem tariffs on $50 billion worth of Chinese products. It also looks at past use of Section 301 against China.
The European Union and China
This report discusses the political and economic relationship between the European Union (EU) and China. The EU and China have over 70 high-level and senior-level dialogues, working groups, and steering committees reflecting the wide-ranging scope of the relationship, including in areas such as cyber, transnational crime, economics, high-tech innovation, tourism, energy, and the environment.
Moldova: An Overview
This report discusses Moldova, one of three post-Soviet states, together with Ukraine and Georgia, seeking greater integration with the West as it copes with separatist territories occupied by Russian forces.
Enforcing U.S. Trade Laws: Section 301 and China
This report discusses the Trump Administration's decision to proceed with a Section 301 case against China's intellectual property rights (IPR) policies and their intent to impose 25% ad valorem tariffs on $50 billion worth of Chinese products. It also looks at past use of Section 301 against China.
The U.S. Trade Deficit: An Overview
This report provides an overview of the U.S. trade deficit, which is the numerical difference between a country's exports and imports of goods and services. Topics include the source of the trade deficit, trade agreements, unemployment, and issues for Congress.
Cuba: U.S. Policy Overview
This report discusses U.S. policy towards Cuba, including issues of government-to-government engagement, travel and commerce, change in U.S. immigration policy, continued human rights concerns, injuries of U.S. Embassy personnel in Havana, and Congressional action.
Enforcing U.S. Trade Laws: Section 301 and China
This report discusses the Trump Administration's decision to proceed with a Section 301 case against China's intellectual property rights (IPR) policies and their intent to impose 25% ad valorem tariffs on $50 billion worth of Chinese products. It also looks at past use of Section 301 against China.
The G-7 Summit in Charlevoix, Canada: Changing U.S. Leadership in Global Forums
This report covers the 44th annual Group of 7 (G-7) summit on June 8-9. Seven of the world's largest advanced economies meet annually to discuss and coordinate economic and foreign policies, with the 2018 agenda focusing on economic growth, gender equality, jobs, and the environment.
Economic and Fiscal Conditions in the U.S. Virgin Islands
This report discusses the fiscal and economic challenges facing the U.S. Virgin Islands (USVI) and related issues for Congress, such as: oversight of federal policies that could affect the USVI's long-term fiscal stability; further legislation that would extend or restructure long-range disaster assistance programs to mitigate those challenges and promote greater resiliency of infrastructure and public programs; and how responses to the USVI's fiscal distress could affect municipal debt markets more broadly.
Indexing Capital Gains Taxes for Inflation
This report discusses the debate over proposals to index capital gains for inflation. The proposed change would eliminate the part of capital gains that reflects inflation by increasing the basis (i.e., the amount subtracted from sales price to determine capital gains) by inflation occurring since acquisition of the asset.
The Section 179 and Section 168 (k) Expensing Allowances: Current Law and Economic Effects
This report examines the current status, legislative history, and main economic effects (including their efficacy as a tool for economic stimulus) of the Section 179 and bonus depreciation allowances.
Business Investment Spending Slowdown
This report discusses the slowdown in business investment spending over the last decade and various reasons why the slowdown may have occurred.
U.S. Trade Deficit and the Impact of Changing Oil Prices
This report provides an estimate of the initial impact of changing oil prices on the United States's merchandise trade balance.
Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) and House Legislation: Common Issue Areas
This report discusses the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) and compares its provisions with sections of bills passed in the House that proposed similar or identical changes to the law.
Federal Reserve: Legislation in the 115th Congress
This report provides an overview of the Federal Reserve and legislation related to it proposed or passed during the 115th Congress.
Section 232 Steel and Aluminium Tariffs: Potential Economic Implications
This report discusses the new tariffs imposed by President Trump on steel and aluminium imports and their potential economic impacts.
Financial Regulation: The Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155)
This report discusses the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) which was reported by the Senate Committee on Banking, Housing, and Urban Affairs on December 18, 2017. The bill generally aims to provide regulatory relief to banks, relax mortgage lending rules, and provide additional consumer protections related to credit reporting and other areas. This report briefly highlights major policy proposals.
Has the Economy Reached Full Employment? If So, Will It Stay There?
This report considers the question of whether the U.S. has reached full employment (defined as the lowest level of unemployment that is sustainable for the economy without over-inflating wages) and provides statistical charts of the unemployment rate and labor force participation rates along with analysis of the data.
What Causes a Recession?
This report discusses causes of recessions and provides data on the length of time economic expansions of the past have lasted.
Community Development Financial Institutions (CDFI) Fund: Programs and Policy Issues
This report discusses the Community Development Financial Institutions (CDFI) Fund which assists CDFI's which are business that provide financial products and services.
Monetary Policy and the Federal Reserve: Current Policy and Conditions
This report discusses U.S. monetary policy and the Federal Reserve. It provides an overview of monetary policy and recent developments, a summary of the Fed's actions following the financial crisis, and ends with a brief overview of the Fed's regulatory responsibilities.
Iran's Expanding Economic Relations with Asia
This report discusses Iran's economic relations with East Asia especially China, South Korea, and Japan. Trade and partnerships have been been rebounding after the January 2016 lifting of international sanctions on Iran.
Normalization of the Federal Reserve's Balance Sheet
This report answers questions about the Federal Reserve's (Fed's) September 20 announcement that it would begin to normalize its balance sheet in October by gradually reducing its asset holdings.
Iran Sanctions
This report analyzes U.S. and international sanctions against Iran and provides some examples, based on open sources, of companies and countries that conduct business with Iran. CRS has no way to independently corroborate any of the reporting on which these examples are based and no mandate to assess whether any firm or other entity is complying with U.S. or international sanctions against Iran. The sections are grouped by function, in the chronological order in which the themes have emerged
Trade Adjustment Assistance for Firms
This report discusses the Trade Adjustment Assistance for Firms (TAAF) program, which is administered by the Economic Development Administration (EDA) of the Department of Commerce. The TAAF program assists eligible American companies that have been harmed by increasing imports; this harm is defined by lower domestic sales and employment because of increased imports of similar goods and services. Through the TAAF program, EDA provides technical assistance, on a cost-sharing basis, to help eligible businesses create and implement business recovery plans that may allow them to remain competitive in a dynamic international economy.4 The TAAF program provides technical assistance through a partnership with a national network of 11 EDA-funded Trade Adjustment Assistance Centers (TAACs).
Cuba Sanctions: Legislative Restrictions Limiting the Normalization of Relations
This report outlines the various laws and sections of legislation that govern sanctions against Cuba and how they could be lifted or waived along with background information on the U.S. embargo of Cuba since the 1960s.
China's Economic Rise: History, Trends, Challenges, and Implications for the United States
This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise for the United States.
The G-20 and International Economic Cooperation: Background and Implications for Congress
This report analyzes why countries coordinate economic policies and the historical origins of the G-20; how the G-20 operates; major highlights from previous G-20 summits, plus an overview of the agenda for the next G-20 summit; and debates about the effectiveness of the G-20 as a forum for economic cooperation and coordination.
U.S. Trade in Services: Trends and Policy Issues
This report provides background information and analysis on U.S. international trade in services, as well as policy issues. It examines emerging issues and current negotiations, including the Trade in Services Agreement (TiSA), the Trans-Pacific Partnership (TPP), and the Transatlantic Trade and Investment Partnership (T-TIP).
Foreign Direct Investment in the United States: An Economic Analysis
This report discusses the foreign direct investment in the United States that declined sharply after 2000, when a record $300 billion was invested in U.S. businesses and real estate.
Monetary Policy and the Federal Reserve: Current Policy and Conditions
This report provides an overview of monetary policy and recent developments. It discusses issues for Congress, including transparency and proposals to change the Federal Reserve's (Fed's) mandate, and ends with a brief overview of the Fed's regulatory responsibilities.
Federal Reserve: Legislation in the 115th Congress
This report discusses bills in the 115th Congress regarding the Federal Reserve (Fed). Four major areas of interest are addressed by the bills; Fed governance, increased oversight and disclosure to Congress and the public, A monetary policy rule (known as the Taylor Rule) that would be used a standard for the Fed to compare their policies with, and reduction of their emergency lending powers.
China-U.S. Trade Issues
This report discusses the U.S.-China economic relationship and China's rapid expansion as a global economic market, within the context of the current global economic crisis. It also examines major U.S.-China trade issues and related legislation.
China-U.S. Trade Issues
This report provides background and analysis of U.S.-China commercial ties, including history, trends, issues, and outlook.
Monetary Policy and the Federal Reserve: Current Policy and Conditions
This report provides an overview of monetary policy and recent developments. It discusses issues for Congress, including transparency and proposals to change the Fed's mandate, and ends with a brief overview of the Fed's regulatory responsibilities.
Millennium Challenge Corporation
This report discusses the Millennium Challenge Corporation (MCC) which provides economic assistance through a competitive selection process to developing nations that demonstrate positive performance in three areas: ruling justly, investing in people, and fostering economic freedom.
China-U.S. Trade Issues
This report discusses the U.S.-China economic relationship and China's rapid expansion as a global economic market, both with respect to the current global economic crisis. It also examines major U.S.-China trade issues and related legislation.
Systemically Important or "Too Big to Fail" Financial Institutions
This report discusses the economic issues raised by "too big to fail" (TBTF) financial firms including broad policy options and policy changes made by the relevant Dodd-Frank provisions.
U.S. Trade in Services: Trends and Policy Issues
This report provides background information and analysis on U.S. international trade in services, as well as policy issues. It examines emerging issues and current negotiations, including the Trade in Services Agreement (TiSA), the Trans-Pacific Partnership (TPP), and the Transatlantic Trade and Investment Partnership (T-TIP).
Brazil in Crisis
This report briefly examines the political situation and discusses public opinion regarding the Rousseff Administration.
Economic Development Administration: FY2016 Appropriations
This report discusses budget issues for the Economic Development Administration (EDA), which was created pursuant to the enactment of the Public Works and Economic Development Act of 1965, with the objective of fostering growth in economically distressed areas characterized by high levels of unemployment and low per-capita income levels.
Brazil in Crisis
This report examines the current political and economic climate in Brazil, which is in the midst of severe economic and political crises that are closely intertwined and unlikely to be resolved quickly.
The Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA; H.R. 5278, S. 2328)
The report presents a brief description of Puerto Rico, its relationship with the federal government, and its fiscal challenges. It also includes a short overview of bill H.R. 5278, with a comparison with previous legislation involving control boards and a section-by-section description of the bill.
Economic Growth Slower Than Previous 10 Expansions
This report briefly discusses the recent pace of economic growth in the United States. A recent poll found that nearly 60% of U.S. adults believe that the economy is performing poorly. Although this expansion is already the fourth longest since the 1850's (34 quarters to date), the slow pace of economic growth means the overall gains have been relatively small.
Federal Reserve: Oversight and Disclosure Issues
This report provides an overview of existing Federal Reserve (Fed) oversight and disclosure practices, highlighting recent legislative changes and proposals. It also considers the potential impact of greater oversight and disclosure on the Fed's independence and its ability to achieve its macroeconomic and financial stability goals.
Honduras: Background and U.S. Relations
This report discusses various domestic issues in Honduras, including current political, economic and security conditions. It also examines the implications for U.S. policy.
Federal Reserve: Legislation in the 114th Congress
This report analyzes provisions and the policy debate surrounding a number of bills that would affect the Federal Reserve's (Fed's) monetary policy, lender of last resort, and regulatory responsibilities. The Fed's responsibilities as the nation's central bank fall into four main categories: monetary policy, provision of emergency liquidity through the lender of last resort function, supervision of certain types of banks and other financial firms for safety and soundness, and provision of payment system services to financial firms and the government.
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