Economy

Biden, somehow, claims good news in jobs report

Biden, somehow, claims good news in jobs report

Vice President Joe Biden says the August jobs report, which underwhelmed many economists, is another step forward in the nation’s economic recovery. The economy generated only 142,000 jobs, the fewest in eight months. In the weekly White House radio and Internet address, Biden says job growth continues but warns that the wages of middle-class Americans […]

Obama hits road for political day trip

Obama hits road for political day trip

Drawing attention to his economic policies and courting a key Democratic constituency, President Barack Obama is embarking on a two-stop day trip to highlight technological developments and to raise money for the Democratic Party from a newly energized gay community. Obama on Tuesday was traveling to Pittsburgh, where he will visit a workshop designed to […]

Surge in consumer spending in April

Surge in consumer spending in April

U.S. consumers ramped up their spending in March at the fastest pace in 4½ years, a sign that the economy is gaining momentum after its winter slowdown. The Commerce Department said Thursday that consumer spending rose 0.9 percent, the largest monthly gain since April 2009. The department also revised up its estimate of the spending […]

Obama’s $4 trillion budget: Can it accomplish anything?

Obama’s $4 trillion budget: Can it accomplish anything?

President Barack Obama is unwrapping a nearly $4 trillion budget that gives Democrats an election-year playbook for fortifying the economy and bolstering Americans’ incomes. It also underscores how pressure has faded to launch bold, new attacks on federal deficits. Obama’s 2015 fiscal blueprint, which he is sending Congress Tuesday, was expected to include proposals to […]

Does low inflation hurt the economy?

Does low inflation hurt the economy?

Historically low inflation has taken hold across the developed world, from the United States to Europe to Japan. Economists say super-low inflation has likely slowed growth in those regions, which is why the world’s central banks would like prices to rise. Last year, overall U.S. prices inched up just 1.1 percent, according to the Federal […]

More weak data for America’s troubled economy

More weak data for America’s troubled economy

U.S. homebuilder confidence suffered its largest one-month drop ever in February, heightening concerns that recent signs of weakness in the economy reflect deeper problems than the severe weather that has gripped much of the country. The National Association of Home Builders said on Tuesday its Housing Market Index plunged by 10 points to 46 in […]