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Barack Obama will try to keep steady pressure on Republicans on Monday when he announces that his $450 billion jobs plan is ready to be taken up by Congress, reiterating his call for lawmakers to quickly pass the bill. The FT reports.
One day after revealing his jobs package, President Obama has hit the road urging voters to do whatever it takes to make lawmakers pass his bill. Also, discussing whether the President can strike a compromise with Republicans, with Jacob Lew, White House Director of the Office of Management & Budget.
“We should pass this jobs plan right away,” said President Barack Obama as he addressed America and Congress, calling for an end to the political circus in Washington and action that would “actually help the economy.” With those words, the president threw down the gauntlet to his Republican opponents with a $447 billion dollar stimulus package aimed at boosting jobs before America goes to the polls late next year.
Democrats are asking President Obama to be tough in his jobs speech tonight. Discussing the President's plan, with Senator Robert Menendez (D-NJ) and CNBC's Maria Bartiromo.
Federal Reserve Chairman Ben Bernanke reiterated the central bank's commitment to providing stimulus for the wobbly US economy but offered no specific promises or details about what action could be taken.
The White House may pull the Postal Service back from the brink of insolvency, at least for a few months. The Postal Service faces a $5.5 billion payment to the Treasury at the end of September.
It would appear that capitalism has a developed a terrible dependency issue, turning hostile and violent when there’s nothing left in the punch bowl. Unfortunately, new fears of a double dip recession have emerged, the caked residue of weak economic growth and a soft job market. On the heels of a 30-year spending spree and the party of our lifetime, we find ourselves searching for our equilibrium once again.
With his approval ratings on the floor, President Barack Obama will on Thursday unveil an eagerly awaited speech on job creation that will define the 2012 battle for the White House.
As fall begins, the economy is a mess. Unemployment is at 9.1 percent. The U.S. economy failed to add jobs in August. Consumer confidence is at record lows. The housing market is in despair. Europe is imploding. And, our political leaders cannot seem to put their differences aside to create some certainty and progress.
Friday’s disappointing US non-farm payrolls data showed no jobs where created in the US in August sending stocks sharply lower as fears over a recession intensified.
After trickling forward in terms of job growth in the United States, the August numbers released Friday were met with alarm. The numbers suggest that companies have stopped hiring and are maintaining the status quo in terms of head count. Based on this release, data equity markets sold off and gold rallied as concerns arose about the strength of the US economic recovery. Banks in particular including much maligned Bank of America were hit as a result.
I’ve got a few thoughts on this so-called Obama jobs plan, scheduled for release next week. For starters, let’s be clear: Government doesn’t create jobs. It’s the private sector that creates jobs. And that’s precisely what President Obama has been missing for nearly three years now.
Pimco's manager in charge of the world's largest bond fund, Bill Gross, may have made a mistake when betting against US bond prices earlier this year, but the economy has deteriorated faster than anyone had appreciated, analysts told CNBC Tuesday.
With speculation growing that the Fed could pull the trigger on QE3 next month and the ECB buying up bonds in the euro zone, analysts at ING in Amsterdam have been asking if it is possible for a central bank to go bust.
Federal Reserve Chairman Ben Bernanke is unlikely to announce a third round of quantitative easing in his Jackson Hole speech this afternoon, Tony Fratto, the director of Hamilton Place Strategies, a public policy research firm, told CNBC.
The fact that Deven Shama, the president of Standard & Poor’s, has stood down from his job just a couple of days after the agency downgraded the United States' credit rating has raised questions over whether he is being made into a scapegoat to deflect political pressure on the credit ratings agency.
These mistakes are big, costly and spectacular. What are some of the more notable architectural failures in modern history?
He believes the Fed has created enough liquidity, but it's tax and regulatory barriers that have blocked growth and job creation. He also responds to GOP attacks on the Fed.
Richard Fisher, Federal Reserve Bank of Dallas president & CEO, discusses the day's market rout.
The Environmental Protection Agency is emerging as a favorite target of the Republican presidential candidates, who portray it as the very symbol of a heavy-handed regulatory agenda imposed by the Obama administration that they say is strangling the economy. The New York Times reports.