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  2. 'Blinders on' but be prepared: In 2016, Fed took note of ...

    www.aol.com/news/blinders-prepared-2016-fed-took...

    Transcripts of the Fed's Dec. 13-14, 2016, meeting, before Trump had taken office, show Powell then said that because of the "expansionary fiscal stance" anticipated under the incoming ...

  3. Fiscal policy of the United States - Wikipedia

    en.wikipedia.org/wiki/Fiscal_policy_of_the...

    In fiscal year 2005, the deficit began to shrink due to a sharp increase in tax revenue. By 2007, the deficit was reduced to $161 billion; less than half of what it was in 2004 and the budget appeared well on its way to balance once again. Fiscal policy is the application of taxation and government spending to influence economic performance.

  4. Austerity - Wikipedia

    en.wikipedia.org/wiki/Austerity

    Policy choices had little to do with these deficit increases. This makes austerity measures counterproductive. Wolf explained that government fiscal balance is one of three major financial sectoral balances in a country's economy, along with the foreign financial sector (capital account) and the private financial sector.

  5. Government spending - Wikipedia

    en.wikipedia.org/wiki/Government_spending

    Government spending can be a useful economic policy tool for governments. Fiscal policy can be defined as the use of government spending and/or taxation as a mechanism to influence an economy. [13] [14] There are two types of fiscal policy: expansionary fiscal policy, and contractionary fiscal policy. Expansionary fiscal policy is an increase ...

  6. Fiscal policy - Wikipedia

    en.wikipedia.org/wiki/Fiscal_policy

    Neoclassical economists generally emphasize crowding out while Keynesians argue that fiscal policy can still be effective, especially in a liquidity trap where, they argue, crowding out is minimal. [8] In the classical view, expansionary fiscal policy also decreases net exports, which has a mitigating effect on national output and income. When ...

  7. Economic policy of the first Donald Trump administration

    en.wikipedia.org/wiki/Economic_policy_of_the...

    Fiscal year 2019 (FY 2019) ran from October 1, 2018, through September 30, 2019. It was the first fiscal year where Trump's tax cuts were in effect for the entire period. The Treasury Department reported on October 17, 2019, that the budget deficit rose from $778 billion in FY2018 to $984 billion in FY2018, an increase of $205 billion or 26%.

  8. House GOP fiscal hawks warn Trump tax cuts in danger of ...

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    The debate is putting top Republicans who will be in charge of crafting fiscal policy next year at odds, while both argue they are fighting for Trump's agenda.

  9. Modern monetary theory - Wikipedia

    en.wikipedia.org/wiki/Modern_Monetary_Theory

    Under MMT, expansionary fiscal policy, i.e., money creation to fund purchases, can increase bank reserves, which can lower interest rates. In mainstream economics, expansionary fiscal policy, i.e., debt issuance and spending, can result in higher interest rates, crowding out economic activity.