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Hundreds of thousands of Americans have enrolled in federally financed training programs in recent years, only to remain out of work, says the NYT.
Now that the Senate has passed President Obama’s Wall Street reform legislation, the financial industry’s representatives are combing through the legislation and trying to figure out exactly who their new regulators in Washington will be.
The government says consumer prices dipped 0.1 percent in June. Less expensive energy bills were a big factor behind the drop. Prices for some food items and airlines fares also fell.
Council of Economic Advisors Chair Christina Romer reported that the “stimulus” had “created or saved 3 million jobs since its inception (and only half the money has been spent to date! Guess it is a delayed stimulus).
With the final financial regulation vote just hours away, Sen. Bob Corker, (R-Tennessee), told CNBC Thursday that President Obama lacked the leadership skills needed to create jobs and to drive the country out of the recession.
Facing fresh criticism of his handling of the economy, President Barack Obama travels to Michigan on Thursday to promote investments in the electric vehicle battery industry, a sector the administration sees as a bright spot in the sagging recovery.
Industrial production edged up 0.1 percent, but manufacturing activity dropped amid fears that the economic recovery is stalling.
Governments stopped the world from falling into double-dip recession and authorities around the world did not make the same mistake as where made in the 20s and 30s, Mark Mobius, the executive chairman of Templeton Asset Management said Thursday.
Does the Federal Reserve mean it could take up to five to six years to get the economy performing to its potential? It does not mean we will be in recession that entire time. In fact, the Fed sees growth of 3 percent this year, accelerating to 4 percent in 2012.
Two barometers of the US economy are moving in different directions, sending mixed messages about the depth, breadth and speed of the recovery.
The tax-free growth offered by a Roth IRA can help stretch retirement savings—and that's good news for all Americans, half of whom are at risk of running out of retirement money.
When Treasury man Tim Geithner told me last week in a CNBC interview that the Obama administration wanted a 20-20 limit on the tax rates for investor capital gains and dividends, it may have turned stock markets around 180 degrees from the nasty bear correction that began in late April. No one, most of all me, wants to see any increase in these tax rates. But the Geithner pledge created a lot more certainty, especially on dividends, which will not go up to the 40 percent personal tax rate on ordinary income.
The key to the job growth and recovery in the US is a small business rebound, Milton Ezrati, chief economist at money management firm Lord Abbett, told CNBC Tuesday.
Investors do not see Portugal's rating downgrade by Moody's as an event that will shake the markets, but it confirms the fact that the outlook for the euro zone is still cloudy.
Moody's slashed Portugal's credit rating by two notches to A1, citing a deterioration of the country's debt ratios and weak growth prospects, the ratings agency said Tuesday.
Credit is gradually loosening up for small business, Federal Reserve Governor Elizabeth Duke told CNBC Monday.
The Treasury Department says businesses have added 4.5 million workers under a new program that provides tax breaks for hiring unemployed workers.
With the economy weakening and fears growing of a double-dip recession, the Federal Reserve is under pressure from some quarters to do more to help the economy. But even Fed officials seem to be split over how the central bank could or should respond.
Inventories held by wholesalers rose for a fifth consecutive month in May but sales fell for the first time in more than a year, sending a cautionary signal about the strength of the recovery.