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Japan stimulus measures should focus on economic growth, says head of ruling party tax panel

Japan stimulus measures should focus on economic growth, says head of ruling party tax panel

By Yoshifumi Takemoto

TOKYO, Oct 14 (Reuters)Japan must compile another extra budget to have enough funding to boost economic growth and paying for disaster preparations, a ruling party lawmaker said on Wednesday.

Akira Amari, the head of the Liberal Democratic Party’s tax panel, said any new stimulus measures should shift focus to boosting economic growth from providing support for current conditions.

Amari, speaking during a group interview with media, also said large businesses heavily reliant on foreign tourism could expect to start facing capital shortages next year.

His remarks came after local media reported on Tuesday that Prime Minister Yoshihide Suga plans to order his government to compile extra stimulus measures as early as November, a move that would highlight the government’s resolve to return growth to levels last seen before the COVID-19 crisis.

Japan has already rolled out a combined $2.2 trillion in two stimulus packages in response to the health crisis, including cash payments to households and small business loans to help them withstand the blow to demand.

(Reporting by Yoshifumi Takemoto; Writing by Daniel Leussink; Editing by Clarence Fernandez and Gerry Doyle)

((daniel.leussink@thomsonreuters.com; Twitter: @danielleussink; +81-3-4563-2747;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Gridlock over new stimulus measures is the biggest catalyst for market volatility right now, a chief strategist says

Gridlock over new stimulus measures is the biggest catalyst for market volatility right now, a chief strategist says

Pelosi Mnuchin
  • The lack of progress in reaching an agreement on US fiscal stimulus is the biggest “catalyst” of market volatility for stocks right now, National Securities’ chief market strategist Art Hogan told CNBC Wednesday. 
  • He said: “The No. 1 catalyst in this market causing the most volatility is the path of fiscal policy and whether we can get that out of the Beltway.” 
  • Hogan said markets are less concerned about the US election result. 
  • US president Donald Trump signaled an end to stimulus talks this week, but later called for a standalone bill to help the airline industry. 
  • Visit Business Insider’s homepage for more stories.

The gridlock in Washington DC between US lawmakers over a new economic stimulus package is the biggest catalyst for market volatility, rather than the upcoming election, National Securities’ chief market strategist Art Hogan told CNBC’s “Trading Nation” Wednesday. 

“The number one catalyst in this market causing the most volatility is the path of fiscal policy and whether we can get that out of the Beltway,” Hogan said. “We need more fiscal policy stimulus. We’ve heard that from the Fed. We’ve certainly heard that from economists.” 

US president Donald Trump ended talks between Democrats and Republicans until after the election on Tuesday. He later urged lawmakers to approve $1,200 stimulus checks for American taxpayers, small business aid, and direct assistance to airlines to prevent layoffs.

Democrats and Republicans have been stuck in a stalemate over the size of the next fiscal plan since July, although House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have signaled that they have made some progress in recent days.

But even though a full fledged fiscal plan is unlikely before the US election, markets watchers have been welcoming the prospects for a standalone bill for

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Bay Area political events: Debate watch party, ballot measures analysis

Bay Area political events: Debate watch party, ballot measures analysis

Upcoming political events in the Bay Area. Events take place online unless otherwise noted:

WEDNESDAY

Debate watch party: Online watch party for vice presidential debate between Mike Pence and Kamala Harris. Hosted by Manny’s. 5:30 p.m. More information is here.

Ballot measures: A nonpartisan analysis of San Francisco and state ballot measures, hosted by the League of Women Voters. 6 p.m. More information is here.

THURSDAY

Rep. Ro Khanna: Fremont Democrat holds a town hall meeting. Noon. Submit questions in advance here; join meeting here.

Eric Holder: Former U.S. attorney general on voter suppression and the election. Hosted by Mother Jones. 1 p.m. More information is here.

Immigration and public health: Writer Giuli Alvarenga shares his accounts as a volunteer at the U.S.-Mexican border in discussing how conditions there among immigrants is a public health concern. Hosted by the Commonwealth Club. 3 p.m. More information is here.

Boozy ballot breakdown: A rundown of everything that’s on the ballot, with Luna Reclipse and Tonya Turmeric. Hosted by Manny’s. 7 p.m. More information is here.

FRIDAY

RBG vigil: In honor of the late Justice Ruth Bader Ginsburg. Hosted by the Sisters of Perpetual Indulgence. 7 p.m. in person at Market and Castro streets, San Francisco; online here. More information is here.

MONDAY

Oakland City Council race: A virtual town hall forum with candidates for the Oakland City Council’s at-large seat. Hosted by Project Inquire. 4 p.m. More information is here.

TUESDAY

Reuniting the U.S.: The authors of “The Upswing: How America Came Together a Century Ago and How We Can Do It Again,” Harvard public policy Professor Robert Putnam and social entrepreneur Shaylyn Romney Garrett, talk about the lessons the U.S. can draw from earlier eras of reform. Hosted by the Commonwealth Club. 10 a.m. More information is here.

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