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In a trend that bodes badly for the U.S. jobs outlook, productivity in the world's biggest economy is probably not headed for a sharp slowdown, according to research from the Federal Reserve Bank of San Francisco.
High deficits and a lack of job growth underpin Obama's awful poll numbers, but the foul mood is buttressed by a fundamental disagreement with policies the president has pursued that should be winners.
It’s the consumer, stupid. That was the message of Bill Dunkelberg, chief economist for the National Federation of Independent Business (NFIB), who told CNBC Monday that the consumer needs to come back for the economy to improve.
Dueling sentiments are tugging at President Obama as he is set to address the nation on CNBC Monday. One is that he’s been “too nice to Wall Street,” according to a CNBC poll; the other is that he’s anti-business, a consensus discussed on CNBC Monday.
Strong investor demand for junk bonds has pushed the average price on such corporate debt to its highest level since June 2007, when companies could borrow with ease at the height of the credit boom, the Financial Times reports.
President Obama lacks the popularity and credibility now to give Americans confidence about the economy, Washington Post reporter Neil Irwin told CNBC Friday.
In a scathing criticism of the Obama administration, Home Depot co-founder Bernie Marcus told CNBC Friday that Treasury Secretary Geithner should have a reality-TV show about small business, because it would illustrate how out of touch the Obama administration is with the private sector.
The percentage of Americans struggling below the poverty line in 2009 was the highest it has been in 15 years, the Census Bureau reported Thursday, and interviews with poverty experts and aid groups said the increase appeared to be continuing this year, the New York Times reports.
Had the Republicans taken control of Congress in 2008, the country would have sunk into a depression, House Speaker Nancy Pelosi (D-Calif.), told CNBC Thursday.
New York's financial services sector shed 4,400 year-over-year in August, weighing on the state's unemployment rate, according to the New York Department of Labor's August report released Thursday.
The budget problems that come from federal spending and entitlements, such as Social Security, pale in comparison with the challenges of containing health care costs and maintaining Medicare at the level of treatment Americans expect, Robert Reich, the former Labor Secretary, told CNBC Thursday.
The economy almost certainly will not re-enter recession but will grow only slowly in the years ahead, keeping interest rates low and markets subject to rapid change, Goldman Sachs analyst Abby Joseph Cohen told CNBC.
Reinstating federal estate taxes at the 65 percent rate will result in some 1.6 million jobs lost, Douglas Holtz-Eakin, president of the think tank the American Action Forum, told CNBC Thursday.
The number of people living in poverty has climbed to 14.3 percent of Americans, with the ranks of working-age poor reaching the highest level since at least 1965.
Maintaining tax cuts for top earners should take a back seat to other more pressing measures, economic advisor Larry Summers said, in a signal the administration could be digging its heels on the issue.
As a main character in Michael Lewis’s bestseller, “The Big Short,” Eisman is best known for getting the subprime crisis right. But at the time, his attempts to warn regulators were ignored. This time they’re listening, especially after he capitalized on his role in the book with a report last June at an investment conference headlined, “Subprime Goes to College.”
To those that knew what their strategies were doing, to those that contributed to the downfall, I reserve the most substantial level of scorn.
Investors caught between fears of the future and wanting to catch the gains of the present should try to use a "safe-risk spread" that guards against the lingering potential of an economic double-dip, Pimco's Mohamed El-Erian said.
Governments that bolstered their countries’ ailing institutions impacted by the financial crisis need to step back and give the private sector a chance to innovate and rebuild, former UK Prime Minister Tony Blair told CNBC Tuesday.
Of the 15 most important world economies, the United States ranks in the middle in terms of economic and business dynamism, said Hamid Moghadam, chairman and CEO of AMB Property, an international industrial realty developer which focuses on distribution.