April 15, 2013 |
WASHINGTON -- Economist Mark Zandi reportedly is being considered by the Obama administration to head the federal agency that oversees taxpayer-owned Fannie Mae and Freddie Mac as the White House seeks a candidate who could avoid Republican opposition in the Senate. Zandi, chief economist at Moody's Analytics and a former economic advisor to 2008 Republican presidential nominee John McCain, is being looked at as a nominee for director of the Federal Housing Finance Agency, the Wall Street Journal reported Saturday.
April 5, 2013 |
Japan's central bank took a massive bet to reset its economy and pull out of nearly two decades of deflation. The Bank of Japan announced an aggressive and ambitious plan Thursday to expand its purchase of long-term bonds and double the amount of money in circulation, all in an effort to boost inflation to 2% within two years and stimulate consumer and business spending. The move stoked the Japanese stock market, which gained 2.2% on Thursday and continued rising early Friday, and sent the yen plunging against the dollar.
March 27, 2013 |
Proposed legislation to raise the state minimum wage could eliminate tens of thousands of jobs and harm the California economy, a small-business advocacy group said. The measure, AB 10, could wipe out more than 68,000 jobs over 10 years and cost $5.7 billion in lost production of goods and services, according to a study released Tuesday by the National Federation of Independent Business. More than 63% of the lost jobs would be in the small-business sector, NFIB researchers said.
March 22, 2013 |
Despite a slight uptick in the unemployment rate in January, Los Angeles County appears poised for steady improvement in 2013 along with the rest of the Golden State. The seasonally adjusted jobless rate in the county rose at the beginning of the year to 10.4% from 10.3% in December, according to data released Friday by the state Employment Development Department. That compares with 9.8% in January for California as a whole, unchanged from the month before. Los Angeles has lagged behind many other coastal counties, such as Orange, San Diego and San Francisco, in the recovery.
March 14, 2013 |
Piece by piece, evidence has begun to accumulate that after four years of lackluster performance, the U.S. economy is on track for stronger growth than many people had expected. The latest support for that view comes from data on consumer spending, which grew at a surprisingly quick pace in February, pushed upward by robust demand for cars and building materials. The report this week from the Commerce Department came just a few days after employment figures showed faster improvement than most economists had projected, in large part because of the strong rebound of the market for housing.
March 13, 2013 |
The U.S. economy is ready to stage an earnest comeback this year - led by housing starts and auto sales - and California stands to grab a large proportion of the gains, UCLA economists said Wednesday. Although employment growth slowed at the end of last year, the employment picture this year is expected to brighten, helping the U.S. and California shake off their economic doldrums, according to the quarterly UCLA Anderson Forecast. Join us for a live video chat at 1:30 p.m. on the state of the California economy.