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U.S. NEWS Monday 16 october 2017
Collins urges Trump to back effort to restore health subsidy

By HOPE YEN “The president is not going
Associated Press to continue to throw good
WASHINGTON (AP) — A money after bad, give $7
key moderate Republican billion to insurance com-
urged President Donald panies unless something
Trump on Sunday to back changes about Obam-
a bipartisan Senate effort acare that would justify
to shield consumers from it,” said Sen. Lindsey Gra-
rising premiums after his ham, R-S.C., who golfed
abrupt decision to halt fed- with Trump Saturday at the
eral payments to insurers, Trump National Golf Club in
calling the move “disrup- Sterling, Virginia.
tive” and an immediate “It’s got to be a good
threat to access to health deal,” Graham said.
care. In his decision last week,
“What the president is do- Trump derided the $7 bil-
ing is affecting people’s lion in subsidies as bailouts
access and the cost of to insurers and suggested
health care right now,” he was trying to get Dem-
said Sen. Susan Collins of ocrats to negotiate and
Maine, who has cast piv- agree to a broader effort to
otal votes on health care in repeal and replace former
the narrowly divided Sen- President Barack Obama’s
ate. “This is not a bailout Sen. Susan Collins, R-Maine, smiles during a news conference Friday, Oct. 13, 2017, in Rockland, health care law, a bid
of the insurers. What this Maine, after announcing she will remain in the U.S. Senate and not run for governor. that repeatedly crashed
money is used for is to help (Shawn Ouellette/Portland Herald via AP) in the GOP-run Senate this
low-income people afford ander, R-Tenn., and Patty for subsidized private insur- ance set to start Nov. 1. summer.q
their deductibles and their Murray, D-Wash., to at least
co-pays.” temporarily reinstate the
“Congress needs to step payments to avoid immedi-
in and I hope that the ate turmoil in the insurance
president will take a look market, even as Trump sig-
at what we’re doing,” she naled he wouldn’t back a
added. deal without getting some-
Her comments reflected an thing he wants in return.
increasing focus Sunday on The payments will be
the bipartisan Senate effort stopped beginning this
led by Sens. Lamar Alex- week, with sign-up season

Fed Chief Yellen sounds upbeat on
economy, signaling likely rate hike

By MARTIN CRUTSINGER to start picking up as the ef-
AP Economics Writer fects of temporary factors,
WASHINGTON (AP) — Fed- such as falling prices for
eral Reserve Chair Janet consumer cellphone ser-
Yellen on Sunday sketched vice, begin to fade.
a bright outlook for the U.S. “Economic activity in the
economy and for infla- United States has been
tion prospects in coming growing moderately so far
months, saying the impact this year, and the labor
of the recent hurricanes market has continued to
will likely slow economic strengthen,” Yellen said in
growth slightly but only a speech to a panel that
temporarily and should be included central bank of-
followed by a rebound by ficials from China, Japan
year’s end. Her comments and the European Central
suggested that the central Bank. Of the hurricanes
bank will soon resume rais- that struck Texas, Florida,
ing interest rates to reflect Puerto Rico and the Ca-
the strengthening econo- ribbean, Yellen noted that
my. Most economists fore- they caused enormous
see the next rate hike — the damage. But she added:
third this year — coming in “While the effects of the
December. hurricanes on the U.S.
Speaking to an interna- economy are quite notice-
tional banking seminar, able in the short term, histo-
Yellen acknowledged that ry suggests that the longer-
the persistence of undesir- term effects will be modest
ably low inflation this year and that aggregate eco-
has been a surprise. But she nomic activity will recover
said she expected inflation quickly.”q