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US Economy

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  • Despite Drop in Rates, Mortgage Applications Sag Wednesday, 27 Feb 2013 | 7:08 AM ET

    Applications for U.S. home mortgages sagged for a third straight week last week, even as mortgage rates eased slightly, an industry group survey showed on Wednesday.

  • Bernanke: My Inflation Record Is One of the Best Tuesday, 26 Feb 2013 | 10:26 AM ET
    Federal Reserve Chairman Ben Bernanke.

    Federal Reserve Chairman Ben Bernanke strongly defended the U.S. central bank's bond-buying stimulus before Congress on Tuesday, saying that the bank sees little risk of higher inflation in the near term.

  • Here's Why Layoffs From Sequester Will Be Costly Tuesday, 26 Feb 2013 | 10:24 AM ET

    Hundreds of thousands of workers at firms with government contracts are expected to be laid off because of sequestration. But picking who stays and who goes could be complicated and costly.

  • New Home Sales Soar; Best Reading in Four Years Tuesday, 26 Feb 2013 | 10:02 AM ET

    U.S. new-home sales jumped in January from the previous month to the highest level since July 2008, while a separate report showed that consumer confidence picked up much more strongly than expected in February.

  • Sequestration 'Meat Cleaver' Is Irresponsible: Summers Tuesday, 26 Feb 2013 | 8:43 AM ET
    Former U.S. National Economic Council Chairman Larry Summers

    Former Clinton Treasury Secretary Lawrence Summers argued on CNBC for a "balanced approach" because President Barack Obama has agreed to more spending cuts.

  • Yen Slumps on Talk of ADB's Kuroda for BOJ Role Sunday, 24 Feb 2013 | 10:22 PM ET
    Haruhiko Kuroda

    Japan's government is likely to nominate Asian Development Bank President Haruhiko Kuroda, an advocate of aggressive monetary easing.

  • Which Tax Deductions Are Most Likely to Go? Sunday, 24 Feb 2013 | 11:19 AM ET

    Some tax loopholes and deductions are under immediate scrutiny in efforts to cut the deficit and raise revenues. But questions remain on whether closing or reducing deductions will raise revenues and make the tax code fairer.

  • Why the Middle Class Is Declining: Economist Sunday, 24 Feb 2013 | 10:41 AM ET
    In this Spet. 5, 2012, photo, delegates watch as former President Bill Clinton addresses the Democratic National Convention in Charlotte, N.C. The placards on display as Clinton addressed the DNC said, "Middle Class First." And indeed, speaker after speaker has evoked the party's devotion to the lot of middle-class Americans in 2012. The rich also have featured in the rhetoric, albeit as a punching bag. But the poor? Not so much. They've been mentioned only fleetingly. The discrepancy makes sens

    The American middle class is "hollowing out" as the U.S. economy fails to compete effectively in a globalized world, Harvard economist Michael Porter told CNBC.

  • Why Italy Continues to Rain on Europe's Parade Sunday, 24 Feb 2013 | 5:17 AM ET
    Supporters and activists from Livorno of the Movimento 5 Stelle, Five Star Movement go by bus to attend the last political rally of Beppe Grillo, leader of the Movimento 5 Stelle before the national election on February 22, 2013 in Rome, Italy.

    Change is in the air as Italy goes to the polls, but that change could also throw up a nasty surprise for the euro zone.

  • Texas Cities See Strongest Growth in Recovery Friday, 22 Feb 2013 | 3:09 PM ET
    Houston's skyline.

    Metropolitan areas in Texas saw the fastest economic growth as the recovery took hold in 2011, according to federal data released Friday.

  • 5 Reasons Not to Worry About the Dreaded Sequester Friday, 22 Feb 2013 | 1:32 PM ET

    "It's going to look more like the rounding error in GDP," says one economist. "I think there is a lot more noise than light being shed on the sequester."

  • Ouch: How Sequestration Might Impact You Friday, 22 Feb 2013 | 12:25 PM ET

    Long lines at the airport, food scarcities and a rise in identity theft are just some of the disasters awaiting Americans if sequestration goes through.

  • Pimco's Gross: Fed Not Vigilant Enough Friday, 22 Feb 2013 | 10:46 AM ET
    Bill Gross, co-chief investment officer of Pacific Investment Management Co.

    Pimco Founder Bill Gross called out the Federal Reserve on its vigilance in three major areas, during a CNBC interview.

  • John Williams, president of the Federal Reserve Bank of San Francisco.

    Despite an increasingly large Fed balance sheet, a top official at the central bank said the fear of losing money should not stop it from providing aggressive support to the U.S. economy now.

  • St. Louis Fed President James Bullard

    The Federal Reserve's "very aggressive" easy money policy is going to stay that way for a "long time," St. Louis Fed President James Bullard told CNBC on Friday.

  • Existing Home Sales Tick Up; Philly Fed Drops Thursday, 21 Feb 2013 | 10:01 AM ET
    A construction worker uses a hammer at a new housing development in San Mateo, California.

    U.S. home resales edged higher in January and left the supply of homes at its lowest level in 13 years, a sign that steam is gathering in the U.S. housing market.

  • Icelanders Question Their Lauded Economic Recovery Thursday, 21 Feb 2013 | 8:52 AM ET
    Iceland

    Iceland's biggest IT company CCP is what the island needs to leave its economic crisis behind. It is global, growing and employs hundreds but its tale is also one of frustration that echoes concerns about the country's future.

  • Euro Zone Recovery Hopes Dealt a Blow in February: PMIs Thursday, 21 Feb 2013 | 4:19 AM ET

    Hopes the euro zone might emerge from recession soon were dealt a blow on Thursday, as surveys showed the downturn in the region's businesses worsened unexpectedly this month - especially in France.

  • NJ's Revel Casinos Heads to Bankruptcy Court Wednesday, 20 Feb 2013 | 12:51 PM ET

    Less than a year after opening, Atlantic City's newest casino and resort, Revel, has found itself headed to bankruptcy court.

  • Detroit's Financial Crisis Now in Governor's Hands Wednesday, 20 Feb 2013 | 9:38 AM ET
    Governor Rick Snyder

    Governor Rick Snyder has 30 days to decide if Detroit needs an emergency manager to oversee its finances after the city's fiscal situation was deemed a financial emergency.

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