US economy

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Economists Lean Closer to the R-Word

Almost half on US panel predict recession, up from 25% last year

(Newser) - An panel of US economists leaned closer to predicting recession today after grappling with a slew of scary data, the AP reports. More than half of analysts at the National Association for Business Economics maintained that a downturn is still unlikely, but 45% expected recession in 2008; only a quarter...

Dollar Gains Slightly Against the Euro

Investors wait for latest read on vigor of US economy

(Newser) - European markets saw the US dollar edge higher against the euro, yen and British pound today as traders looked for clues as to whether the US economy would avoid a recession, reports the Associated Press. Today’s report on January sales of existing homes will likely cast some light on...

One-Man Beer Outfits Take Brewing Micro Indeed

Super-small operations cater to niches in US niche markets

(Newser) - Some so-called “microbreweries” have grown much too large to use that sobriquet, but as certain outfits outgrow the label, others are just growing into it. Portfolio's Lew Bryson introduces the future of beer: one-man brewing. In a market where once-boutique names like Sam Adams and Sierra Nevada now command...

'Retail Renting' or Stealing? Stores Crack Down

Shoppers who repeatedly buy and return merchandise face tougher policies

(Newser) - It’s called “wardrobing” or “retail renting,” when a consumer buys, uses, and then returns merchandise, and the National Retail Federation says it’s growing more popular with shoppers, the Boston Globe reports. It's also becoming a bigger headache for merchants as the economy tightens and businesses...

Poll Sees Texas Dead Heat, Slight Clinton Lead in Ohio

Races close ahead of March 4 primaries

(Newser) - Hillary Clinton and Barack Obama are running neck and neck in Texas, while Clinton holds a significant but tenuous lead in Ohio, according to a Washington Post-ABC News Poll. Heading into the crucial March 4 primaries, Clinton leads Obama 48% to 47% in Texas, and 50% to 43% in Ohio...

Fed Sees Slower Growth, Higher Unemployment

Reserve officials sharply reduce economic forecast

(Newser) - The Federal Reserve issued a bleak assessment of the economy today, predicting weak growth and rising unemployment this year. Fed officials expect the economy to grow between 1.3% and 2% in 2008, the slowest in five years, the New York Times reports. A separate report today showed consumer prices...

Inflation Spikes, Cut in Jeopardy
Inflation Spikes, Cut in Jeopardy
Feb 20, 2008 9:04 AM CST

Inflation Spikes, Cut in Jeopardy

Fed may have hands tied, as CPI soars past expectations

(Newser) - Core inflation bounded ahead of expectations in January, which is bad news for anyone betting on a big rate cut from the Fed–and for the Fed itself. The consumer price index rose 0.4%, with core CPI rising 0.3%, putting the year-over-year figures at 4.3% and 2....

Silicon Valley Deletes Middle-Income Jobs

Jobs rise in region overall, partly due to international influx

(Newser) - Silicon Valley is bleeding middle-income jobs, the New York Times reports. Clerks, secretaries, service reps and others earning $30,000 to $80,000 a year fell from 52% to 46% of workers from 2002 to 2006, according to a new report. The trend threatens the region's upward-mobility track, one author...

Fed Quietly Loans Billions to US Banks

New program opens floodgates for short-term funds

(Newser) - US banks, struggling with liquidity and hesitant to lend to each other in the wake of the subprime crisis, have hit up the Fed for nearly $50 billion, the Financial Times reports. The loans, issued under a 2-month-old program that, one analyst says, lets them "borrow money against all...

Stocks Sink on Fed Comments
Stocks Sink on Fed Comments
MARKETS
Feb 14, 2008 3:46 PM CST

Stocks Sink on Fed Comments

Bernanke sees weak growth because of credit trouble

(Newser) - The markets fell today after three days of growth as the Fed warned that continuing credit trouble will restrain the economy and several top brokerage firms saw their earnings estimates reduced, MarketWatch reports. The Dow slid 175.26 points to 12,376.98, the Nasdaq dropped 41.39 to 2,...

Bernanke Suggests Rate Cuts Ahead
Bernanke Suggests Rate Cuts Ahead
Feb 14, 2008 9:20 AM CST

Bernanke Suggests Rate Cuts Ahead

Fed chief sees threats from employment, housing, credit

(Newser) - Federal Reserve Chairman Ben Bernanke signaled today that further interest rate cuts might be necessary, citing continuing fallout from the credit and housing market collapses, reports the Wall Street Journal. Bernanke told the Senate Banking Committee he expected "a period of sluggish growth, followed by a somewhat stronger pace...

The Playbook for a Comeback
The Playbook for a Comeback
OPINION
Feb 13, 2008 12:43 PM CST

The Playbook for a Comeback

Strategists outline how they'd take back momentum for Clinton's campaign

(Newser) - Can she get back on her feet before she’s counted out? The Washington Post’s Chris Cillizza asked Democratic strategists how Hillary Clinton could regain momentum in her faltering campaign. The four-point play:
  • Follow Bill’s “It’s the economy, stupid” lead: Put out a "white paper"
...

Soaring Costs Force Workers Out of Key West

Few remain to service the island's tourists and millionaires

(Newser) - High Key West housing costs are sparking an exodus of residents and leaving the island's tourists with too few people to serve them, the Los Angeles Times reports. Some 2,000 workers have fled in the past 7 years, a crushing blow to a county that houses 75,000 residents...

Consumers Cut Credit Card Spending
Consumers
Cut Credit
Card Spending
Feb 8, 2008 10:49 AM CST

Consumers Cut Credit Card Spending

Delinquencies rise; economists see slowdown

(Newser) - Americans may be falling out of love with their credit cards, the Wall Street Journal reports, and banks seem to be returning the sentiment. As more and more consumers are delinquent on their payments, banks in turn are tightening borrowing standards, making it harder for them to extend their credit....

GOP Senators Block Dems' Stimulus Plan

Bill to give Americans tax rebates is now in legislative limbo

(Newser) - Democrats' efforts to expand a financial relief plan for Americans hit a roadblock in the Senate today, the AP reports. Republicans were able to stymie the bill, which they say is too expensive. Democrats hoped to add $40 billion to the plan that passed the House last week; it's now...

Will That Be Cash or Cash?
Will That Be Cash or Cash?
Feb 5, 2008 9:20 AM CST

Will That Be Cash or Cash?

Americans save more, pay upfront as times get tougher

(Newser) - The collapsing housing market, shaky employment security, and uncertain economic outlook are changing Americans' buying habits: They’re paying with cash. Plastic has become synonymous with debt, helping revive the pay-as-you-go mentality, reports the New York Times. The change could have a major impact on an economy, and a culture,...

Worry Over Economy Highest in 14-Plus Years

Finances are top concern among voters: poll

(Newser) - Americans' concern over the domestic economy is at a level not seen in nearly 15 years, and voters doubt the Bush stimulus package will avert a recession, a new Washington Post-ABC News poll shows. Eight in 10 Americans rate the economy as "not so good" or "poor,"...

As US Job Growth Stalls, an Era Ends

Employment stats point to sea change in once-certain growth patterns

(Newser) - Workers who’ve lost a job are having a tougher time finding a new one as the economy contracts, marking an end to more than a decade and a half of rapid, sometimes phenomenal, US job growth, writes Business Week’s Peter Coy. The loss of 17,000 jobs in...

Pork Shortage Plagues China
Pork Shortage Plagues China
Feb 3, 2008 6:09 PM CST

Pork Shortage Plagues China

Beijing dips into pork preserve to avoid crisis

(Newser) - Pigjacking is China's latest crime. Sounds like a joke? Crooks are scoffing the swine thanks to a boom economy and a pig shortage that has hogs highly valued. With a record winter storm stranding thousands and sparking unrest, Beijing is dipping into its official pork preserve—hoping to calm a...

Bush: Trade Key to US Recovery
Bush: Trade Key to US Recovery
Jan 31, 2008 11:21 AM CST

Bush: Trade Key to US Recovery

Prez urges quick action on international deals, offers help to affected workers

(Newser) - Saying "free trade means good-paying jobs for Americans," President Bush yesterday urged Congress to approve proposed deals with Colombia, Panama, and South Korea, the core of a trade agenda he feels can revitalize a shaky US economy. Bush also offered to help lawmakers reshape benefits for workers who...

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