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.
August 29, 2010 |
Republicans are on a roll. Swing voters have fallen out of love with President Obama and his party, and many are willing to give the opposition a chance. Washington's chief prognosticator, Charlie Cook, forecasts that Republicans are increasingly likely to win control of the House and even stand a chance of taking over the Senate, an idea that seemed far-fetched only a month ago. And weeks of bad economic news have only made the Democrats' problems worse. But do the Republicans have workable solutions?
June 20, 2013 |
Federal Reserve Chairman Ben S. Bernanke outlined a path for eventually ending the central bank's unprecedented stimulus efforts after Fed officials voiced surprising optimism about the economy. At the end of their two-day meeting Wednesday, Fed policymakers said the latest data indicate that economic activity is expanding "at a moderate pace" and that "downside risks" for the economy and the labor market have "diminished" since last fall. Still, the Federal Open Market Committee, in a 10-2 vote, decided for now to continue buying $85 billion worth of Treasury notes and mortgage-backed securities each month to push down mortgage and other long-term interest rates and improve broader financial conditions.
May 1, 2010
The refusal by most Republicans to have anything to do with clean energy or the fight against global warming means the job is being left almost entirely to Democrats, who have a strong grasp of environmental science but often a dim understanding of economics. That can undermine even the most well meaning of environmental initiatives, as a group of Senate Democrats seems determined to do with green-energy projects funded by stimulus dollars. Sens. Charles E. Schumer (D-N.Y.), Bob Casey (D-Pa.