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 Joseph Lawler | 02/18/14 05:15 PM
Raising the minimum wage to $10.10 by 2016 would increase wages for 16.5 million workers but lead to a loss of about 500,000 jobs, according to an estimate from the Congressional Budget Office released Tuesday afternoon. The potential job losses projected by the CBO ranged from a "slight...
By Joseph Lawler | 02/17/14 08:17 AM
Are payday lenders and cash-checking businesses good at what they do? Many Americans view them with suspicion, thinking that they are ruthless in preying on the poor by charging outrageous interest rates to people who are in desperate need of cash. But some evidence suggests that these...
By Joseph Lawler | 02/14/14 02:51 PM
Following the legalization of retail marijuana in the states of Washington and Colorado, the Justice Department and the Treasury Department's Financial crimes Enforcement Network released guidance to banks on how they could allow marijuana businesses to hold accounts without running afoul of...
By Joseph Lawler | 02/13/14 09:29 AM
The question of whether the largest U.S. banks remain "too big to fail" is one that "fundamentally can only be answered in a financial crisis," Treasury Secretary Jack Lew said in an interview with Charlie Rose on Wednesday night.
By Joseph Lawler | 02/12/14 01:50 PM
Over the course of 2013, 53.3 million Americans were hired, and there were 51.4 million total job separations, for a total of 1.9 million jobs created.
By Joseph Lawler | 02/12/14 12:26 PM
The days of low inflation may be coming to an end, if a new analysis from the Federal Reserve is right. While high unemployment has kept inflation low for the past few, according to researchers at the New York Fed, short-term unemployment has now returned to a normal level. And it's short-term...
By Joseph Lawler | 02/11/14 01:36 PM
In her first public appearance as chairwoman of the Federal Reserve, Janet Yellen fielded questions from members of the House Financial Services Committee on Tuesday. During the hearing on monetary policy, which was required by law, Yellen addressed questions about her plans for the Fed and...
By Paul Bedard | 03/09/14
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By Philip Klein | 03/06/14
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