Trillion Dollar Stimulus

With the presidential election fast approaching, the White House is preparing a $1.8 trillion economic rescue plan to try to coax congressional Democrats into an agreement, according to media reports Friday.

Prime Minister Shinzo Abe's cabinet is likely to approve a 28 trillion yen ($273 billion) stimulus package on Tuesday, though direct fiscal spending will total only about 7 trillion yen, according to two people briefed on the matter.

Faith in the power of "quantitative easing" has prompted central banks, led by the Federal Reserve, to pump trillions of dollars of stimulus into the global financial system to cushion the impact of the 2007-08 market crisis and recession.

With the presidential election fast approaching, the White House is preparing a $1.8 trillion economic rescue plan to try to coax congressional Democrats into an agreement, according to media reports Friday.

Prime Minister Shinzo Abe's cabinet is likely to approve a 28 trillion yen ($273 billion) stimulus package on Tuesday, though direct fiscal spending will total only about 7 trillion yen, according to two people briefed on the matter.

Faith in the power of "quantitative easing" has prompted central banks, led by the Federal Reserve, to pump trillions of dollars of stimulus into the global financial system to cushion the impact of the 2007-08 market crisis and recession.