Today, The Wall Street Journal reports that the Federal Reserve is looking at a symbolic policy change in light of the sagging recovery — something designed to restore confidence, rather than to attack primary problems like stagnant wages or high rates of joblessness.
Today, Treasury Secretary Timothy Geithner has an opinion piece in The New York Times entitled, awkwardly, “Welcome to the Recovery.” The article comes as economists project that unemployment might head back up into the 10 percent range, and on the day the Bureau of Economic Analysis released More…
Data released by the Bureau of Economic Analysis at the Commerce Department this morning shows that Americans earned a bit more, spent a bit less and saved more in June — all in line with economists’ expectations. Consumer spending drives about 60 percent of the economy, therefore, economists do More…
This morning, the Commerce Department said that the U.S. economy expanded at a 2.4 percent annual rate in the second quarter — about what economists expected. That rate is down from a 3.7 percent annual rate in the first quarter
Nonresidential fixed investment drove growth, increasing at a 17 More…
Yesterday, Treasury Secretary Timothy Geithner confirmed a well-known fact: The Obama administration and many congressional Democrats are in agreement that the bulk of the Bush tax cuts need to be kept in place, to keep the tax burden on middle-class families low. But to close the deficit, taxes need More…
Yesterday, the International Monetary Fund released a report on the world economy, revising upward its predictions for U.S. economic growth while lowering its projections for many Western European countries. It also cautioned that the global recovery is imperiled due to the sovereign debt crises in Europe:
Downside risks have
Well, it won’t be all doom and gloom here today. Consumer confidence — an important bellwether of increasing household spending — shot up last month.
The Conference Board says that consumers’ expectations about today’s and tomorrow’s economic conditions continue to improve from low lows. Consumers’ six-month outlook climbed to More…
Wondering what’s behind those recent jobless recovery numbers?
1. Fortune 500 companies tripled their profits to $391 billion in 2009.
2. They also slashed their payrolls by more than 800,000 jobs.
Here’s the video of the day: Neil Cavuto of Fox News reacting to the Dow Jones index’s recovery by asking his first guest whether former President George W. Bush should get credit.
“What was once the Bush recession is now the Bush recovery,” asks Cavuto, “or is that More…
One year after devastating floods in the Midwest, The Iowa Independent’s Lynda Waddington reports that government red tape continues to hinder recovery efforts.
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