12/05/13 03:30 PM
WASHINGTON (AP) — The world's biggest economies need to do more to bolster financial rules to avoid a repeat of the disastrous 2008 financial crisis, Treasury Secretary Jacob Lew said Thursday. Lew said he will use a February meeting in Australia of the Group of 20 major industrial countries...
By Joseph Lawler | 12/05/13 12:33 PM
The U.S. economy grew at a better-than-expected 3.6 annual rate in the third quarter, up from an initial reading of 2.8 percent, the Bureau of Economic Analysis announced Thursday. That beat analysts' expectations, which were for around 3 percent. The report's headline result suggests that the...
By Timothy P. Carney | 12/05/13 11:36 AM
One reason corporate welfare is so hard to kill is the problem of "concentrated benefits and diffuse costs." A subsidy program might irk taxpayers, but how much time and money will taxpayers spend to kill a program that costs them each $20 per year? A lot less than the few lucky beneficiaries...
12/05/13 11:30 AM
WASHINGTON (AP) — Average U.S. rates for fixed mortgages rose sharply this week, making home-buying slightly less affordable. Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year loan jumped to 4.46 percent from 4.29 percent last week. The average on the 15-year fixed loan...
By Joseph Lawler | 12/05/13 11:26 AM
Treasury Secretary Jack Lew declared victory in ridding the financial system of banks that are too big to fail Thursday morning, following up on a promise he made earlier in the year to ensure that no banks remained in a position to receive taxpayer bailouts if they collapse. In a speech at...
12/05/13 11:00 AM
WASHINGTON (AP) — Creative industries led by Hollywood account for about $504 billion, or at least 3.2 percent of U.S. goods and services, the government said in its first official measure of how the arts and culture affect the economy. On Thursday, the U.S. Bureau of Economic Analysis and...
By Associated Press | 12/05/13 10:19 AM
The price of oil edged higher above $97 a barrel Thursday as investors reacted to a drop in U.S. stockpiles, but concerns of oversupply in the Middle East capped gains.
By Bloomberg News | 12/05/13 10:05 AM
U.S. companies could encounter higher borrowing costs under a congressional tax plan that would reverse a 29-year-old policy making it easier for other countries’ residents to invest in U.S. corporate debt.
By Bloomberg News | 12/05/13 09:30 AM
The mini-boom in Bitcoin software for smartphones is making it easier for consumers to use the virtual currency in place of cash for quick transactions, such as paying for food or splitting a bill. The widening appeal of the digital money is also fueling a rally that has lifted Bitcoins to record...
By Associated Press | 12/05/13 06:31 AM
Creative industries led by Hollywood account for about $504 billion, or at least 3.2 percent of U.S. goods and services, the government said in its first official measure of how the arts and culture affect the economy.
By Byron York | 12/08/13
By Richard Pollock | 12/06/13
By Timothy P. Carney | 12/07/13
By Philip Klein | 12/05/13
By Timothy P. Carney | 11/26/13