June 15, 2012 |
WASHINGTON — Wall Street is betting that the Federal Reserve and other central banks are ready to roll out programs to help protect the global economy from financial market turmoil. Investors have been piling into the stock market this week on hopes that more stimulus programs might be in the works amid negative U.S. economic snapshots and continued uncertainty in Europe. Stocks in the U.S. rallied Thursday, with the Dow Jones industrial average charging up 155.53 points, or 1.2%, to 12,651.91.
June 18, 2011 |
This isn't where Federal Reserve Chairman Ben S. Bernanke hoped to be in mid-2011. Just as the Fed is wrapping up its $600-billion bond-buying program aimed at boosting the economy, the recovery is weakening again, stock prices are slumping and Greece's fiscal meltdown is threatening to fuel another global financial crisis. And the other Washington entity with the power of the purse — Congress — seems in no mood to talk stimulus. Just the opposite: Some Republican leaders are threatening to block an increase in the federal debt limit, and risk defaulting on the government's debts by early August, unless the White House agrees to massive spending cuts.
August 8, 2011 |
If there is anything about which the average American has no doubt, it's that the state of the economy is a five-alarm emergency. Consumer demand, already weak, is destined to ebb even more as Americans watch their retirement savings and other investments shrivel in the global markets meltdown. Businesses won't hire in this kind of environment, no matter how much cash is sitting on their balance sheets. And the cycle continues to roll, downhill. These are the times when Americans look to Washington for leadership and solutions.
September 12, 2012 |
WASHINGTON - Most market participants expect the Federal Reserve to announce another round of stimulus Thursday, but nearly 6 in 10 doubt it will lower unemployment. Those were the findings of a CNBC survey of 58 money managers, strategists and economists. The poll, released Wednesday, also found financial professionals prefer Republican Mitt Romney over President Obama in November's election 53% to 18%. But if they had to bet, they'd put their money on the incumbent. Asked who they expected to win, 46% of respondents said Obama and 24% said Romney, with the rest unsure.
July 17, 2009 |
Massive stimulus spending and record bank lending lifted China's economic growth rate in the second quarter to 7.9%, a sign that the Chinese economy is defying the recessionary forces that are weighing down most other countries. The surprisingly robust numbers released Thursday by China's National Bureau of Statistics are an improvement from the 6.1% growth in gross domestic product in the first three months this year.
November 27, 2009 |
What was once the bustling Evergreen Pulp mill is today a forlorn factory of smokestacks and tan buildings clustered quietly beside the still, gray waters of the Arcata harbor near Eureka, Calif. Entrepreneur Bob Simpson bought the closed facility in February with the hopes of reopening it as a environmentally friendly toilet paper plant. He planned to spend $400 million rehabbing the factory and rehiring 215 workers who lost their jobs when the old pulp mill shut down in October 2008.
April 3, 2013 |
The recent improvement in the labor market and other signs that the recovery is gaining speed have surprised economists, fueling speculation that the Federal Reserve will soon pull back from its massive monetary stimulus. One of the Fed's policymaking participants, John C. Williams, said in an interview with The Times that he can envision the central bank dialing back some of its bond purchases this summer before halting them entirely by the end of the year. Williams, president of the Federal Reserve Bank of San Francisco, is a self-described centrist on a panel of 19 Fed officials who meet regularly to discuss the economy and policy options.
July 12, 2009 |
President Obama says that the $787-billion stimulus program must be given a chance to work before consideration is given to a second jolt for the still-ailing economy. Obama acknowledged in his weekly radio and Internet address that people were getting nervous about continuing high joblessness -- the unemployment rate hit 9.5% in June -- but said that reversing payroll losses takes time. He asked Americans to be as patient as possible. Republicans have labeled the $787-billion stimulus a failure.
June 25, 2009 |
Billionaire investor Warren Buffett said the U.S. may need a second economic stimulus package as unemployment is poised to continue rising. "It looks like we're going to need more medicine, not less," Buffett said in a Bloomberg Television interview. "We're going to have more unemployment. The recovery really hasn't got going." Buffett is chairman and chief executive of Berkshire Hathaway Inc., which is based in Omaha.
June 20, 2010 |
The gig: As California's inspector general for American Recovery and Reinvestment Act funds, Laura Chick is the watchdog making sure that the state's $85 billion in stimulus dollars are spent wisely. Appointed last year by Gov. Arnold Schwarzenegger, Chick defines her mission as the 3 Ds: deter, detect and disclose any waste or fraud. California was the first state to create such an oversight position for federal stimulus funds. (Chick's position shouldn't be confused with that of California's other inspector general, David Shaw, who oversees the Department of Corrections and Rehabilitation.