By Joseph Lawler | 03/03/14 11:00 AM
Bill Gates has reclaimed the top ranking in Forbes' magazine's list of world billionaires, ending Mexican communications magnate Carlos Slim Helu's four-year tenure as the richest man in the world. The net worth of the Microsoft founder and philanthropist soared to $76 billion in 2013,...
By Joseph Lawler | 03/03/14 07:51 AM
A jam-packed week for economics-related news in Washington is threatened by Winter Storm Titan, which is bearing down on the Mid-Atlantic region. Here’s what’s on the schedule: House budget Committee Chairman Paul Ryan, R-Wisc., is scheduled to publish a report Monday criticizing the U.S....
By Joseph Lawler | 02/28/14 04:08 PM
One of the Federal Reserve system's top advocates of looser money is calling for the Fed to continue easing even if inflation rises. Charles Evans, the president of the Federal Reserve Bank of Chicago, said at a meeting in New York Friday that the Fed to "do more" to boost the economy and let...
By Joseph Lawler | 02/28/14 12:41 PM
Benjamin Landy for the Century Foundation: This year, about 3 million students will graduate from high school. Of the 2 million who go on to attend college, more than 1.5 million will take the SAT. And, as usual, colleges will lean heavily on the results to assemble America's next educational...
By Joseph Lawler | 02/28/14 09:15 AM
The difference was mostly reductions in the Bureau of Economic Analysis' estimates of consumer spending, business inventories added, government outlays, and exports. Business investment was marked up.
By Joseph Lawler | 02/28/14 05:17 AM
The tax code overhaul proposed by House Ways and Means Committee Chairman Dave Camp will boost economic and job growth and reduce the deficit, according to a new analysis from the American Action Forum. Based on a review of the research on lowering tax rates and cutting tax loopholes, AAF...
By Joseph Lawler | 02/27/14 01:45 PM
Federal Reserve Chairwoman Janet Yellen lent credence Thursday to a Congressional Budget Office study of the minimum wage that White House economists had criticized for its finding that an increase favored by President Obama would cost 500,000 jobs. In an unusual criticism of the nonpartisan...
By Joseph Lawler | 02/27/14 01:22 PM
The Federal Reserve could halt the taper of its bond purchases if recent weak economic indicators reflect not just bad weather but underlying slow growth, Chairwoman Janet Yellen said Thursday morning. Yellen said at a Senate Banking Committee hearing that if there's a "significant change in...
By Joseph Lawler | 02/26/14 10:39 AM
New home sales spiked in January to the highest level since 2008, the federal government reported Wednesday. The 468,000 new single-family home sales in January was a nearly 10 percent increase over December's relatively weak reading, and better than last year's comparable number.
By Joseph Lawler | 02/25/14 05:20 PM
Robots aren't coming for our jobs, but they're probably lowering our wages. That's the takeaway from a new survey of top academic economists conducted by the Initiative on Global Markets Forum, affiliated with the University of Chicago's Booth School of Business.
By Joseph Lawler | 02/25/14 01:06 PM
A Tokyo-based exchange called Mt. Gox suspended trading and went offline Monday as evidence appeared to suggest that it was insolvent and unable to repay customers with accounts worth in the hundreds of millions.
By Joseph Lawler | 02/25/14 12:00 PM
Volunteering fell to the lowest rate in 2013 since the government has been measuring it, the Bureau of Labor Statistics reported Tuesday. Roughly 62.6 million Americans volunteered through or for an organization at least once between September 2012 and September 2013, according to the BLS, or...
By Joseph Lawler | 02/25/14 10:53 AM
Housing prices continued their upward climb through December, according to the S&P/Case-Shiller housing price index released Tuesday that showed 0.8 percent month-over-month growth. Although that rate was slightly slower than in the previous month, it beat analysts' expectations and...
By Joseph Lawler | 02/24/14 08:34 AM
Is the Federal Reserve's taper tightening the money supply? Both former Fed Chairman Ben Bernanke and current Chairwoman Janet Yellen have been careful to reassure markets that they have not been trying to tighten money conditions by reducing monthly bond purchases by $10 billion at recent...
By Joseph Lawler | 02/21/14 11:46 AM
With $2.5 trillion sitting idle on bank balance sheets and more than $2 trillion additional sitting on corporate balance sheets, we should expect the Federal Reserve to ask: What can more quantitative easing -- QE -- do that banks and corporations cannot do without it? The right answer is NOTHING.
By Charlie Spiering | 03/14/14
By Byron York | 03/15/14
By Michael Barone | 03/14/14
By Brian Hughes | 03/16/14
By Ashe Schow | 03/16/14