WRKF

Scott Horsley

When Rep. Alexandria Ocasio-Cortez rolled out her "Green New Deal," calling for clean energy, universal health care and guaranteed jobs, one of the first questions she got was: How do you plan to pay for it?

The New York Democrat argued that ambitious programs can easily be financed through deficit spending.

Updated at 7:34 p.m. ET

Stocks rallied Wednesday as Federal Reserve Chairman Jerome Powell testified about challenges facing the U.S. economy, adding to expectations that the central bank will cut interest rates later this month.

The Fed had hinted at such a cut in June.

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The job market accelerated last month. U.S. employers added a net 224,000 jobs in June. That is far more than many analysts were expecting and also a sharp improvement over a disappointing May.

Updated at 9:25 a.m. ET

Hiring rebounded strongly in June as U.S. employers added 224,000 jobs. That's well above the pace many forecasters were expecting, and a sharp pickup after a disappointing May.

A monthly snapshot from the Labor Department showed unemployment rose slightly, to 3.7%, as more workers entered the job market.

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The U.S. and China have agreed to restart trade talks, and the Trump administration will hold off for now adding new and costly tariffs on some $300 billion in Chinese imports.

President Trump announced the trade truce after an 80-minute meeting with Chinese President Xi Jinping on the sidelines of the Group of 20 summit in Osaka, Japan.

"Basically we agreed today that we're going to continue the negotiation," Trump told reporters Saturday. "We're going to work with China on where we left off to see if we can make a deal."

Updated at 3:30 am ET

On his way to the Group of 20 summit in Japan, President Trump complained about all of its members that take advantage of the United States. But once he arrived in Osaka, he appeared to set aside those concerns, using a rapid-fire series of meetings to flatter his fellow leaders and boast about improving ties.

Summits like the G-20 being held this week in Japan are often a chance for geopolitical speed-dating. President Trump has meetings scheduled with at least eight world leaders over the next three days. None is more consequential than his sit-down Saturday with Chinese President Xi Jinping.

The two big, very different personalities will be jockeying for global power and economic might, with hundreds of billions of dollars in trade on the line.

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