Ben Bernanke

Lots of doom and gloom in economic outlook

Lots of doom and gloom in economic outlook

A U.S. economy that plodded along in the first three months of the year likely grew even less in the April-June quarter. And most economists no longer think growth will strengthen much in the second half of 2012. Weaker hiring, nervous consumers, sluggish manufacturing and the overhang of Europe’s debt crisis might be pointing toward […]

Jobless claims up as weak economy continues

Jobless claims up as weak economy continues

The slowdown in the economy persisted early in the third quarter as factory activity in the U.S. Mid-Atlantic region contracted in July for a third straight month and new claims for jobless aid surged last week. Other reports on Thursday showed home resales slumped to their lowest level in eight months in June and a […]

For some, foreclosure doesn’t mean an end to dream of home ownership

For some, foreclosure doesn’t mean an end to dream of home ownership

When Jennifer Anderson’s family could no longer afford their mortgage and lost their home, she expected many years to pass before they would again become property owners. But less than two years later, in March, they purchased a $297,000 house outside Phoenix, Arizona, after qualifying for a loan backed by the U.S. government. They joined […]

Retail sales up slightly

Retail sales up slightly

Sales at U.S. retailers rose slightly less than expected in December, while underlying inflation remained tame, suggesting the recovery was strengthening modestly with little price pressure building. A separate report on Friday showed a surprisingly large gain of 0.8 percent in output at the nation’s factories, mines and utilities in December, but cold weather was […]

Bernanke says economy may be hitting stride

Bernanke says economy may be hitting stride

The U.S. economy may finally be hitting its stride even if growth remains too weak to put a real dent in the nation’s jobless rate, Federal Reserve Chairman Ben Bernanke said on Friday. Offering no real clues on the future direction of monetary policy, Bernanke sounded cautiously more upbeat than he had in his most […]

Jobs report shows momentum for new year

Jobs report shows momentum for new year

The government is expected to report Friday that businesses stepped up hiring in December, a trend likely to gain momentum in 2011. Economists are predicting that employers added a net total of 145,000 jobs last month and that the unemployment rate dipped to 9.7 percent. Some are even more optimistic after a private payroll firm […]

Palin to Bernanke: ‘Cease and desist’

Palin to Bernanke: ‘Cease and desist’

Tea Party favorite Sarah Palin on Monday weighed in on the global debate over the Federal Reserve’s $600 billion plan to buy up government debt, suggesting Fed Chairman Ben Bernanke should “cease and desist.” “We shouldn’t be playing around with inflation,” Palin, who is widely seen as a prospective 2012 Republican presidential candidate, said in […]

Weak jobs report expected today

Weak jobs report expected today

Newly elected members of Congress will get a reminder Friday of the economic challenges they face in January: The jobs report for October is expected to show hiring weak and unemployment still high. The outlook for 2011 isn’t much better. Economists expect the Labor Department to report that employers added just 60,000 jobs in October, […]

Stimulus? We don’t need no stinkin’ stimulus

Stimulus? We don’t need no stinkin’ stimulus

Federal Reserve officials clashed on Thursday over whether the central bank should be more aggressive in supporting the stumbling economy and one said the Fed’s current policy may be contributing to worryingly low levels of inflation. The Fed’s promise to hold benchmark interest rates exceptionally low for an extended period — a vow aimed at […]

Bank bill passes but work remains

Bank bill passes but work remains

In the end, it’s only a beginning. The far-reaching new banking and consumer protection bill awaiting President Barack Obama’s signature now shifts from the politicians to the technocrats. The legislation gives regulators latitude and time to come up with new rules, requires scores of studies and, in some instances, depends on international agreements falling into […]