The Federal Reserve escalated its efforts to get the U.S. economic recovery back on track Wednesday, again entering the realm of risky and untested policy in response to the worst downturn in generations.
The plan to pump $600 billion into the financial system is designed to stimulate the economy in large part by lowering mortgage and [...]
Posts Tagged ‘unemployment rate’
Fed to buy $600 billion in bonds in effort to boost economic recovery
November 3rd, 2010 by Financial Writer
Tags: economic recovery, Federal Reserve, financial crisis, financial system, money, mortgage market, unemployment rate
more...Bernanke’s Caution Doesn’t Dim View On Asset Buys
October 16th, 2010 by Financial Writer
BOSTON (MarketWatch)–While Federal Reserve Chairman Ben Bernanke was regarded as cautious about a second round of bond-buying to stimulate the economy, economists on Friday said the underlying message was still that some sort of program would be enacted.
“Bernanke knows that the market is allocating more than a 90% probability [of a second round of bond [...]
Tags: economists, economy recovery, Federal Reserve, inflation, loans, monetary, money, unemployment rate, us economy
Wall Street feeling some of Main Street’s economic woes
October 12th, 2010 by Financial Writer
Analysts have recently slashed earnings estimates for a number of big players, and several firms have quietly fired staff. Many more layoffs are expected by early next year.
Reporting from New York — For a while, Wall Street seemed impervious to the economic woes clobbering Main Street, with bank profits, bonuses and share prices rebounding sharply.
Not [...]
Tags: business investment, economic growth, financial crisis, financial services, loans, unemployment rate, us economy, wall street
MIT prof among 3 Nobel economics winners
October 11th, 2010 by Financial Writer
A bleary-eyed Massachusetts Institute of Technology professor Peter Diamond was being driven home from Logan Airport by his wife early Monday when a colleague called to congratulate him on winning the 2010 Nobel economics prize.
It was the first Diamond had heard of the decision, on the last leg of a long trip from New Zealand.
“I [...]
Tags: economists, financial markets, financial system, unemployment rate, us economy
Economy shed 95,000 jobs in September
October 10th, 2010 by Financial Writer
A sharp falloff in local government payrolls, mostly at schools, added an ominous new weight to the depressed labor market last month as the American economy lost 95,000 jobs and the unemployment rate remained at 9.6 percent.
In the last monthly employment report before the Nov. 2 midterm elections, which many see as a referendum on [...]
Tags: Dow Jones Industrial, economic indicators, economists, economy activity, lower interest rates, unemployed americans, unemployment rate
Stocks drop on global economic worries
August 24th, 2010 by Financial Writer
NEW YORK — Stocks retreated Tuesday as worries continue to mount about the pace of a global recovery.
U.S. traders braced for another disappointing report on the housing market later in the day. Overseas markets tumbled.
The Dow Jones industrial average fell more than 100 points in morning trading. Broader indexes also fell more than 1 percent. [...]
Tags: Dow Jones Industrial, economic growth, global recovery, home sales, housing market, interest rates, mortgage rates, Nasdaq composite, stock market, unemployment rate
Yen Weakens on Speculation Japan Will Curb Gains
August 12th, 2010 by Financial Writer
The dollar gained against the yen and euro after U.S. jobless-insurance claims unexpectedly rose, fueling appetite for the currency’s safety amid speculation the world’s largest economy may be slow to recover.
The euro weakened versus the dollar, after dropping the most in almost 22 months yesterday, as a report showed European industrial production unexpectedly contracted in [...]
Tags: bank of japan, economists, economy activity, japan's economy, japanese business, unemployment rate
Unemployment report portrays stagnant job market
August 6th, 2010 by Financial Writer
Private business added only 71,000 new net jobs in July as payrolls fell for a second straight month nationally, the Labor Department reports.
The employment picture in the U.S. remained bleak last month as the nation’s payrolls fell for a second straight month, with private-sector businesses adding a disappointingly scant number of new jobs. The jobless [...]
Tags: business, economic indicators, economists, financial system, Global Economy, money, unemployment, unemployment rate, us economic, us economy
Geithner Says U.S. Unemployment May Rise Again Before Declining
August 3rd, 2010 by Financial Writer
Treasury Secretary Timothy F. Geithner said U.S. unemployment may rise again before it falls and the economy isn’t recovering rapidly enough.
“It’s possible you’re going to have a couple months where it goes up,” he said on ABC’s “Good Morning America” program. “People start to come back into the labor force, and that can cause the [...]
Tags: businesses, commerce department, economists, economy recovery, financial system, money, unemployment rate, us, us economy, US Treasuries
Imports slow second-quarter growth
July 31st, 2010 by Financial Writer
Economic growth slowed in the second quarter as a capital investment drive by businesses sucked in imports at the fastest pace since the first quarter of 1984.
Gross domestic product expanded at a 2.4 percent annual rate, the Commerce Department said in its first estimate on Friday, after an upwardly revised 3.7 percent growth pace in [...]
Tags: business investment, businesses, commerce department, economic growth, financial crisis, financial system, taxpayers, unemployment rate, us stocks