Oct. 15, 2010 at 9:40 a.m.
Filed under:
Economy,
Government
By Tribune newspapers
Fed Chairman Ben Bernanke. (AP)
Federal Reserve Chairman Ben S. Bernanke on Friday laid out a case for the central bank to take further action to bolster growth, citing the risks of prolonged high unemployment and a U.S. economy slipping into a deflationary spiral.
In a much-anticipated speech in Boston, Bernanke did not spell out details of how and when the Fed would take action. But the first option that he mentioned was a program of buying additional assets, namely government bonds, in an effort to drive down long-term interest rates and stimulate economic growth.
The central bank is widely expected to announce such a program, known as quantitative easing, at its next policymakers’ meeting on Nov. 2 and 3. Get the full story »
Oct. 15, 2010 at 8:24 a.m.
Filed under:
Economy,
Government
By CNN
Social Security beneficiaries will see no increase in their benefit checks next year, the federal government said on Friday. For more than 58 million seniors and other Social Security beneficiaries, 2011 will mark the second in a row without an inflation adjustment. Get the full story »
Oct. 15, 2010 at 7:41 a.m.
Filed under:
Consumer news,
Economy,
Government
By CNN
Consumer prices are up slightly over last year driven by climbing food and energy costs, according to a government report released Friday.
The Consumer Price Index, a key measure of inflation, rose 1.1 percent over the last 12 months ending in September, the Bureau of Labor Statistics said Friday. Any number above zero means prices are rising, but a rate around 1 percent is considered very slow growth. Get the full story »
Oct. 15, 2010 at 7:38 a.m.
Filed under:
Autos,
Economy
By Associated Press
Retail sales posted a third monthly increase in September as solid gains at auto, furniture and hardware stores helped to offset weakness at clothing and department stores. Get the full story »
Oct. 14, 2010 at 3:28 p.m.
Filed under:
Economy,
Policy,
Politics
By Reuters
America’s corporate leaders are profoundly more pessimistic this fall about prospects for the U.S. economy and their own profitability than they were this spring, according to a survey of CEO sentiment released on Thursday. Get the full story »
Oct. 14, 2010 at 3:20 p.m.
Filed under:
Banking,
Economy
By Reuters
JPMorgan Chief Executive Jamie Dimon said on Thursday he worries a widening probe into foreclosure practices could be a drag on the housing recovery.
“It may slow it down,” he said. “But we’re hoping it won’t kill it.”
Dimon made the comments after a press conference at the Chicago meeting of The Business Council, a group of 150 top U.S. CEOs that convenes several times a year to discuss issues facing the U.S. economy. Dimon is one of the group’s leaders. Get the full story »
Oct. 12, 2010 at 1:14 p.m.
Filed under:
Economy,
Government
By Associated Press
A new program to pump up the U.S. economy through the purchase of government debt dominated Federal Reserve officials’ discussions at their September meeting.
Minutes of the closed-door deliberations, released Tuesday, suggest Federal Reserve Chairman Ben Bernanke and his colleagues were closing in on a consensus to launch such a program. Get the full story »
Oct. 12, 2010 at 11:18 a.m.
Filed under:
Economy,
Labor,
Management
By Reuters
Few bosses need worry that their employees want their jobs as most workers are just happy to be employed, and one fifth would even have a fling with their boss if it helped their career, according to a U.S. survey.
The U.S. recession has driven bosses and their employees closer together and only 30 percent of employees want their boss’s stressful job, recruitment firm Adecco Staffing U.S. found in a poll tied to National Boss Day in mid-October.
But the survey found that some people are willing to go to greater lengths to keep their jobs in a tough market. Get the full story »
Oct. 12, 2010 at 9:43 a.m.
Filed under:
Economy,
Policy,
Politics,
Real estate
By Reuters
The White House on Tuesday expressed opposition to a broad moratorium on home foreclosures, warning there could be some unintended consequences for the housing market. Get the full story »
Oct. 11, 2010 at 5:31 p.m.
Filed under:
Economy,
Policy,
Politics
By Associated Press
The Federal Reserve’s new vice chairwoman warns that record-low interest rates may give companies an incentive to take excessive risks that could be bad for the economy. Get the full story »
By Reuters
A U.S. labor economist awarded the Nobel Prize in economics on Monday said a “dysfunctional” lending environment has made it hard for small service businesses — the source of most jobs — to finance hiring.
Northwestern University professor Dale Mortensen, whose work focused on labor market inefficiencies that make it difficult for workers to match up to job openings, said employers have fewer jobs to offer and government can do only so much about it.
“To bring unemployment down we need to create service jobs,” Mortensen said, speaking to reporters from Aarhus University in Denmark, where he is a visiting faculty member. Get the full story »
Oct. 11, 2010 at 4:24 p.m.
Filed under:
China,
Economy,
International
By Reuters
President Barack Obama’s administration faces a deadline on Friday on whether to formally declare for the first time that China manipulates its currency, following an election-year vote in Congress to get tough with Beijing. Get the full story »
Oct. 11, 2010 at 11:58 a.m.
Filed under:
Economy,
Policy,
Politics
From the Milwaukee Journal Sentinel | Marquette University announced Monday that economics professor Abdur Chowdhury has been appointed to the Federal Reserve Bank of Chicago’s Academic Advisory Council.
Oct. 11, 2010 at 9:33 a.m.
Filed under:
Economy,
Investing
By Reuters
Half of financial professionals on Wall Street expect to get a higher bonus this year, and some of those expect a much bigger payout, according to an annual survey by financial job board, eFinancialCareers.com.
Eleven percent expect bonuses that are at least 50 percent higher than those paid out at the start of 2010, according to eFinancialCareers, a unit of Dice Holdings Inc, even though 2010 was seen as a “sideways” year for the stock market. Get the full story »
Oct. 8, 2010 at 3:14 p.m.
Filed under:
Consumer news,
Economy,
Stock activity
By Reuters
U.S. stocks finished higher Friday, with the Dow closing above the 11,000 mark for the first time in five months, as a surprisingly weak jobs report strengthened the case for more stimulus from the Federal Reserve. Get the full story »
