The government’s surging deficit can be cut, easy. Getting it done? Almost impossible. Economic recovery and the end to stimulus spending will do the heavy lifting in Treasury's plan to slash the deficit.
More than two thirds of Americans who've been unable to sell their home and buy one that better fits their needs have cut back on household expenses such as food, entertainment and clothing in order to pay their mortgage, a survey released Tuesday shows.
I want a different regime. I’m calling it cowboy monetarism. What do I mean by that? I want Wall Street to be scared to death of the Federal Reserve. I don’t want them lying around in bed with the Fed — I want them running scared.
Phrases like “green shoots,” “animal spirits” and “real consumer spending” are dominating analysts’ weekend reports as they track economic recovery. Yet, the economists with National Bureau of Economic Research are reluctant to declare the recession over.
Who do you listen to? When do they move markets? And do they move them up or down? The award goes to Fed chairman Ben Bernanke.
He may very well be the greatest central banker of all time. But with all due respect, Volcker’s call this week for a European-style VAT (as well as a carbon tax) is itself a historic mistake.
The Chinese government is very close to announcing a revision of its currency policy in the coming days that will allow greater variation in the value of its currency combined with a small but immediate jump in its value against the dollar, the New York Times reported.
The central bank basically sees no inflation at all on the horizon. They’re showing no imminent sign of ending their ultra-easy money for an extended period any time soon. But my message to them and to investors is this: Are you sure about this low-growth recovery?
The US recovery is "sustainable" and the economy is unlikely to see another dip, Jeffrey Lacker, President of the Federal Reserve Bank of Richmond, told CNBC Tuesday.
It is in the interests of all parties to support a strong financial services sector, one that can provide the lending required by businesses and individuals to drive the economic recovery forward.
President Obama said Friday’s positive employment report indicates that the worst of the recession is over. What is the economic outlook going forward? David Wyss, chief economist at Standard & Poor’s, and Howard Ward, portfolio manager at Gamco Growth Fund, shared their insights.
Creditors can secure a court order to seize part of the debtor’s paycheck or the funds in a bank account, a procedure called garnishment. Such pay seizures are rising fast in some areas, the NY Times reports.
Russian consumers are able to spend, the Russian government has significant room to maneuver, and there is no need to endure a long and painful process of systemic deleveraging - all of which make Russia a smart play for growth-oriented investors.
Friday, the Labor Department will release March employment data, and economists have been optimistic the economy is finally gaining jobs and the recession has ended.
"We're just at the point now where the economy's likely to start creating jobs on net," Treasury Secretary Timothy Geithner told NBC's "Today" show . "The unemployment rate is still terribly high, and it's going to stay unacceptably high for a long period of time," he added.
When the financial crisis froze markets and drove the U.S. economy deeper into recession, the Federal Reserve stepped in. Now it is stepping out , and that leaves two important questions for investors.
We are facing an across-the-board tax-hike assault from federal, state, and local sources. This, despite a precarious outlook of a return to long-term economic prosperity after an especially deep and painful recession.
Gains in personal spending will sustain the torque present in the economy, leading to job growth. Torque dictates movement, and there is a large amount of torque evident in some specific areas, says bond expert Tony Crescenzi.
Home prices showed the smallest annual decline in almost three years in January, indicating there are surprising areas of strength in the housing market.
Richard Bernstein, former chief investment strategist at Merrill Lynch and CEO of Richard Bernstein Capital Management, told CNBC today that he sees the economy charging ahead, as if "on steriods."