July 17, 2013 |
TRENTON - Democratic gubernatorial candidate Barbara Buono has unveiled her economic plan for the state, and it contrasts sharply with Gov. Christie's policies. Buono's plan, unveiled early Monday, focuses on shoring up the middle class. It provides tax breaks to small businesses, pledges to make higher education more affordable, and restores safety net cuts made by Christie during his first term. The former chairwoman of the state Senate budget committee says her plan "reflects an understanding that economic growth begins with the middle class.
June 27, 2013 |
WASHINGTON - The U.S. housing recovery is strengthening. Factories are fielding more orders. And Americans' confidence in the economy has reached its highest point in 51/2 years. That brightening picture, captured in four reports Tuesday, suggests that the economy could accelerate in the second half of the year. It underscores the message last week from the Federal Reserve, which plans to slow its bond-buying program this year and end it next year if the economy continues to strengthen.
June 23, 2013
The economy is slowly healing, and the time is coming for the Federal Reserve to unwind its massive efforts to right what was once a sinking ship. Given comments by Fed Chairman Ben Bernanke after the Fed's meeting last week, we now know that the policies that gave us extraordinarily low interest rates are coming to an end. If you borrow or invest, you have a big stake in how and when the Fed raises those rates. Making monetary policy is challenging even in normal times. In crazy circumstances, and that's what we had in 2008, it can be near impossible.
June 18, 2013 |
NEW YORK - Investors are playing a guessing game with the Federal Reserve. On Monday, they guessed that the central bank will continue trying to prop up the economy, and stocks went higher. The major indexes all rose about 1 percent in early trading and stayed there for most of the day before dipping slightly in the afternoon. The Standard & Poor's 500 index rose 12.31 points, or 0.8 percent, to 1,639.04. The Dow rose 109.67 points, or 0.7 percent, to 15,179.85. The Nasdaq composite rose 28.58, or 0.8 percent, to 3,452.13.
June 18, 2013 |
SLIGO, Ireland - President Obama this week will visit a European continent deeply worried about its economy, the worsening conflict in Syria, and the uncertain direction of American leadership abroad in the fifth year of his administration. As he arrives Monday in Northern Ireland for his first trip to Europe in two years, Obama will be confronting the diplomatic fallout from his actions and inaction on some of the most urgent concerns of his European counterparts. His long delay in more aggressively supporting Syria's beleaguered opposition forces - a move his administration announced in the form of expanded military aid on the eve of his visit here - has frustrated the leaders of France and Germany.
June 15, 2013 |
NEW YORK - Disappointing reports about the U.S. economy helped push the stock market lower Friday. Concerns that the Federal Reserve could announce plans to cut back its stimulus program next week also weighed on the mood. Americans' confidence in the economy weakened in June and was lower than economists had estimated, according to the Thomson Reuters/University of Michigan survey out Friday. Another report said factories were not as busy as expected. The Standard & Poor's 500 index sank 9.63 points, or 0.6 percent, to 1,626.73.
June 12, 2013
By Rémy Raisner Five years after the beginning of the global financial crisis, the French and U.S. economies present drastically different pictures. While America seems on the path to full recovery, France still faces challenges, and its economy is in recession for the second time in four years. The national mood is one of the most pessimistic in Europe, and Francois Hollande, one year after his election as president, is seeing record-low popularity. Why? Part of the explanation lies in a combination of weak growth, competitiveness issues, high joblessness, and high public spending, totaling 57 percent of gross domestic product - vs. about 40 percent for the United States.
June 8, 2013 |
The U.S. economy gained a better-than-expected 175,000 jobs in May, adding to a string of solid, if unspectacular, employment reports that promise continued slow growth. Economists found little to cheer about in Friday's report from the Bureau of Labor Statistics, which also said the unemployment rate rose to 7.6 percent in May from 7.5 percent in April as 420,000 more people looked for work. "They're decent but not great," John D. Worrall, an economics professor at Rutgers-Camden, said of the job numbers.
June 3, 2013 |
The economic impact on the Philadelphia region of this month's U.S. Open Golf Championship could approach $100 million, sports and hospitality-industry observers predict. Businesses within easy reach of Merion Golf Club - from limousine and catering services, to restaurants, to bed and breakfasts - are reporting significant spikes in bookings for tournament week June 10-16, as are some Center City hotels. "In terms of sheer volume and global reach, this is probably the biggest sporting event in the area in years," said Larry Needle, executive director of the Sports Congress, a division of the Philadelphia Convention and Visitors Bureau.
May 31, 2013 |
WASHINGTON - The U.S. economy grew at a modest 2.4 percent annual rate from January through March, slightly slower than initially estimated. Consumer spending was stronger than first thought, but businesses restocked more slowly, and state and local government spending cuts were deeper. The Commerce Department said Thursday that economic growth in the first quarter was only marginally below the 2.5 percent annual rate the government estimated last month. That's still much faster than the 0.4 percent growth during the October-December quarter.