It turns out millennials are actually really good at saving money - Washington Post

The higher saving rates might also be spurred by a feeling among millennials that they are on their own for retirement. Workers between the ages of 25 and 37 expect to receive 32 percent of their income in retirement from personal savings and ...

Friday, October 24, 2014

The U.S. dollar is on top of the world - CNNMoney

They predict that one euro will be worth $1.15 by the end of 2016, compared with around $1.27 now. The dollar has already gained more than 8% against the Euro in the past six months. So what does a stronger dollar mean for the average American?

Friday, October 24, 2014

Economists Say We Should Tax The Rich At 90 Percent - Huffington Post

All Americans, including the rich, would be better off if top tax rates went back to Eisenhower-era levels when the top federal income tax rate was 91 percent, according to a new working paper by Fabian Kindermann from the University of Bonn and Dirk ...

Friday, October 24, 2014

Outlook for U.S. Economic Growth Still Solid Even as Global Growth Slows - CNNMoney

WASHINGTON, Oct. 23, 2014 /PRNewswire/ -- Real economic growth in the U.S. appears ready to exceed 3.0 percent for the second half of the year, providing a sound basis for growth in 2015, according to Fannie Mae's (OTC Bulletin Board: FNMA) ...

Thursday, October 23, 2014

US economy: Consumer prices rise on shelter costs, but inflation muted - GMA News

WASHINGTON - US consumer prices rose marginally in September, painting a weak inflation picture that should give the Federal Reserve ample room to keep interest rates low for a while. The Labor Department said on Wednesday its Consumer Price Index ...

Wednesday, October 22, 2014

States Ease Interest Rate Laws That Protected Poor Borrowers - New York Times

Over the last two years, lawmakers in at least eight states have voted to increase the fees or the interest rates that lenders can charge on certain personal loans used by millions of borrowers with subpar credit. The overhaul of the state lending laws ...

Wednesday, October 22, 2014

US banks capitalise on deserted euro bond market - Reuters

Senior unsecured supply from eurozone's banks has plummeted since the summer, with the region's lenders having sold only a paltry 3bn from September till now. This compares to UK, US, Swiss and Nordic issuers that have sold over 15bn in the same ...

Wednesday, October 22, 2014

Unemployment rates fall in 31 US states last month - The Detroit News

Washington — Unemployment rates fell in 31 U.S. states in September, including in many where incumbent governors and senators face tough re-election campaigns. The report is the final data on state unemployment before the Nov. 4 elections. Tuesday's ...

Tuesday, October 21, 2014

Slower Global Economy Not Likely To Change Federal Reserve Policy - International Business Times

Despite a stronger U.S. dollar and forecasts of slowing global economic growth that shook financial markets this month, Federal Reserve officials won't likely change their outlooks on the U.S. economy as they prepare for their policy meeting next week.

Tuesday, October 21, 2014

Solid data, earnings push world stocks higher - Reuters

LONDON (Reuters) - Global stocks climbed on Monday, moving further away from eight-month lows hit last week, as strong U.S. data and encouraging third-quarter earnings eased concerns about the pace of global economic recovery. The MSCI world equity ...

Monday, October 20, 2014

Businesses Upbeat About Jobs, Economic Growth - The Fiscal Times

... albeit at a marginally subdued pace from that of the second quarter,” said NABE President John Silvia, chief economist for Wells Fargo Securities, adding that respondents reported “strong expectations for continued economic growth” in the fourth ...

Monday, October 20, 2014

Fading inflation good for consumers but hints at lurking threats - MarketWatch

Lower gas prices are also expected to reduce inflationary pressure over the next six months or so, effectively giving consumers a badly needed raise. Since workers aren't getting much in the way of actual pay raises, lower prices are the next best thing.

Monday, October 20, 2014

Drop In Unemployment Raises Debate On Optimal Rate - NPR

The U.S. unemployment rate has been falling steadily over the years. Down from the recession peak of 10 percent in 2009, it reached 5.9 percent in September. That's getting close to what economists call the natural unemployment rate — the normal level ...

Saturday, October 18, 2014

In 2014, US Budget Deficit Falls To Pre-Recession Level - NPR (blog)

"The President's policies and a strengthening U.S. economy have resulted in a reduction of the U.S. budget deficit of approximately two-thirds — the fastest sustained deficit reduction since World War II," Treasury Secretary Jacob J. Lew said in a ...

Thursday, October 16, 2014

Beige Book: Modest economic growth, no inflation - USA TODAY

The Federal Reserve's Beige Book, a summary of economic activity in all 12 Fed districts, shows a moderate to modestly growing economy with little sign of inflation. The Beige Book, so called because of the color of its cover, is a largely anecdotal ...

Thursday, October 16, 2014

What's The Panicky Stock Market's Next Move? - Forbes

After a brief pause on Tuesday, U.S. stocks continued their steep sell-off on Wednesday due to ebola fears, deteriorating global economic data, and liquidation selling. U.S. government bonds spiked significantly in a typical “flight to safety” manner ...

Thursday, October 16, 2014

Fear Rises in Stock Market as Dow Drops 400 Points - ABC News

Fear is spreading in the stock market. A monthlong drop in U.S. stocks intensified in afternoon trading Wednesday, sending the Dow Jones industrial average down more than 400 points and putting the index on track for its biggest loss in more than a year.

Wednesday, October 15, 2014

US Budget Deficit Narrows to Six-Year Low - NASDAQ

The annual deficit for fiscal year 2014 fell 29% to $483.35 billion, the Treasury Department said Wednesday. The federal fiscal year starts each Oct. 1. That was less than the $506 billion forecast last month by the Congressional Budget Office and was ...

Wednesday, October 15, 2014

Mortgage applications jump 5.6% on lower interest rates - Housing Wire

“Growing concerns about weak economic growth in Europe caused a flight to quality into US assets last week, leading to sharp drops in interest rates. Mortgage rates for most loan products fell to their lowest level since June 2013,” said Mike ...

Wednesday, October 15, 2014

Fed official warns against raising interest rates 'prematurely' - Los Angeles Times

Even though a global slowdown threatens the U.S. recovery, the biggest risk facing the nation's economy would be decision by the Federal Reserve to raise interest rates too soon, according to a top central bank policymaker. The Fed should be patient in ...

Monday, October 13, 2014

Dollar falls on concerns over global growth, Fed comments - Reuters

"If the U.S. is not going to raise rates as aggressively as the market anticipated ... you can make the case for being short dollars," said Richard Scalone, co-head of foreign exchange at TJM Brokerage in Chicago. He said Germany's signs of weakness ...

Monday, October 13, 2014

U.S. stocks drop; S&P 500 falls below 1900 - MarketWatch

NEW YORK (MarketWatch) — After big losses last week triggered by global economic growth concerns, the U.S. stock market continued its decline on Monday, with the S&P 500 falling below a key technical level. After opening higher, stocks moved into the ...

Monday, October 13, 2014

Earnings under pressure from stronger U.S. dollar - MarketWatch

SAN FRANCISCO (MarketWatch) — Investors will start finding out if a stronger U.S. dollar really dents quarterly results this week as earnings season ramps up with the financial sector providing the bulk of reports and a few key players in tech posting ...

Monday, October 13, 2014

U.S. Economy Set to Shrug Off Wall Street Growth Worries - Bloomberg

The U.S. economy looks better able to withstand the hit from a stronger dollar and weaker global growth than the stock market did last week. Foreign sales last year accounted for 46.3 percent of revenues for companies in the Standard & Poor's 500 Index ...

Monday, October 13, 2014

Applications for US Unemployment Aid Fall to 287K - ABC News

Slightly fewer Americans sought unemployment benefits last week, pushing the average number of applications in the past month to an eight-year low. The Labor Department said Thursday that weekly applications fell 1,000 to a seasonally adjusted 287,000 ...

Thursday, October 09, 2014

China surpasses US as world's largest economy based on key measure - RT

China has surpassed the US in terms of GDP based on purchasing power parity (PPP), becoming the largest in the world by this measure, International Monetary Fund estimates show. In 2014 China reached $17.6 trillion or 16.48 percent of the world's ...

Wednesday, October 08, 2014

Why the Fed should raise interest rates soon - Fortune

The Federal Reserve, which has indicated before that it would consider raising interest rates once the job market improves, is now at a crucial crossroads in this process and needs to decide which aspects of America's economy will have greater impact ...

Wednesday, October 08, 2014

IMF warns period of ultra-low interest rates poses fresh financial crisis threat - The Guardian

One concern is that much of the high-risk investment has taken place in emerging markets, leaving them vulnerable to rising US interest rates. “Accommodative policies aimed at supporting the recovery and promoting economic risk taking have facilitated ...

Wednesday, October 08, 2014

Economic growth worries weigh on markets - U.S. News & World Report

An American flag flies in front of the New York Stock Exchange, Wednesday, Oct. 8, 2014 in New York. Stocks are moving between gains and losses in early trading as traders digest the latest corporate earnings news. Later Wednesday the Federal Reserve ...

Wednesday, October 08, 2014

On balance, a little inflation is better than a lot of unemployment - Washington Post

We learned last Friday that in September the unemployment rate fell below 6 percent. This is, of course, good news. But “irrational exuberance” — to quote a former Federal Reserve chair — over the unemployment rate's rapid decline may undermine the ...

Tuesday, October 07, 2014

Stocks lower as investors wait on interest rate news - Albany Times Union

Some encouraging corporate news failed to give the broader stock market a boost on Monday, and stocks edged lower as investors waited for word on the Federal Reserve's interest rate policy. Hewlett-Packard jumped after announcing that it is splitting ...

Tuesday, October 07, 2014

U.S. Creates 248000 Jobs In September; Unemployment Rate Falls To 5.9% - Huffington Post

The only other uninterrupted four-year run came during the Reagan administration in 1986-1990. The unemployment rate dropped to 5.9 percent from 6.1, the first time unemployment has been below 6 percent since July 2008 before the financial crisis.

Monday, October 06, 2014

First take: Time to think about the Fed - USA TODAY

The strong September jobs report means that investors should be looking for the Federal Reserve to start nudging interest rates higher by mid-2015 — which could warrant caution in both stocks and bonds in the short term. Make no mistake: This was a ...

Monday, October 06, 2014

William Dudley on interest rates and regulatory scrutiny - Marketplace.org

As Marketplace celebrates its 25th birthday this year, we are looking at the surprising, sometimes delightful and sometimes destructive ways that prices have changed during that quarter century. And that means an examination of our old friend inflation.

Monday, October 06, 2014

These charts show just how historically bad the recession was for US consumers - Washington Post

The job market, as today's numbers show, has been crawling steadily upward since the Great Recession . But household consumption had withered after the crisis, long enough for economists to wonder: Was something different about 2007? Have American ...

Friday, October 03, 2014

US unemployment rate hit a six-year low in September - BBC News

The US unemployment rate dipped to 5.9% in September, a six-year low, official figures have shown. The rate fell from 6.1% in August and is the lowest recorded since July 2008. US Labor Department also said that employers added 248,000 jobs last month, ...

Friday, October 03, 2014

How the Jobless Rate Underestimates the Economy's Problems - New York Times

I'll get into some details in a moment, but first, why is it important to gauge the amount of slack in the economy? For one thing, it's a critical input into the thinking of the Federal Reserve. They've been providing extensive monetary stimulus to the ...

Thursday, October 02, 2014

Falling Oil Prices Drag US Stock Market Lower - ABC News

U.S. stocks fell for a fourth straight day Thursday, adding to big losses the day before, as energy companies dragged down the broader market. Investors also worked through a report that showed fewer Americans applied for unemployment benefits. KEEPING ...

Thursday, October 02, 2014

Road Salt Supply Low, Demand High as Winter Looms - ABC News

The reward for surviving last winter's frigid temperatures and record snowfall, several states are learning, is drastic price increases for road salt — and that's if they can even get it. Replenishing stockpiles is proving challenging, especially for ...

Thursday, October 02, 2014

Oil supply and demand shuffled as new tight shale makes impact felt – Peak Oil - North Denver News

World markets for petroleum and other liquid fuels have entered a period of dynamic change—in both supply and demand. Potential new supplies of oil from tight and shale resources have raised optimism for significant new sources of global liquids.

Wednesday, October 01, 2014

Dollar Gains Bolster Fed's Patience on Interest Rates - Bloomberg

Atlanta Fed President Dennis Lockhart, New York's William C. Dudley and Chicago's Charles Evans have all said in the past week they are watching the dollar as officials debate the timing of the first interest-rate increase since 2006. A strong dollar ...

Wednesday, October 01, 2014

Fed: End of unemployment benefits boosted job market this year - Washington Times

In the battle in Congress over the benefits, Democrats argued that the loss of benefits would hurt the economy because unemployed workers have less money to spend on necessities such as groceries and rent. But Republicans argued that the availability ...

Wednesday, October 01, 2014

U.S. stocks: Here's what to expect over the next three months - MarketWatch

For the first time in a long time, rising rates in the year ahead appear to be a certainty. Stock markets are pricing in the first rate hike to arrive sometime in June 2015. The Fed, however, is data dependent, so investors will be watching economic ...

Wednesday, October 01, 2014

Unemployment Benefits Extension 2014: Economy Q2 Rebound Faster than ... - The Epoch Times

Fewer people sought U.S. unemployment benefits last week, as jobless claims remain at relatively low levels that point toward stronger economic growth. This file photo shows an employment application form on a table during a job fair at Columbia-Greene ...

Tuesday, September 30, 2014

Job Woes Linger in 29 States as U.S. Recovers Unevenly - Bloomberg

Even as the U.S. economy reached a milestone in May with employment exceeding the prerecession peak, 29 of 50 states have yet to match that accomplishment, according to Labor Department data compiled by Bloomberg. New Mexico, for instance, still ...

Tuesday, September 30, 2014

US Stocks Head Lower, Following Drops Overseas - ABC News

The U.S. stock market slid to start the week, following European markets down. Indexes recovered some of their losses by late morning. KEEPING SCORE: The Dow Jones industrial average fell 81 points, or 0.5 percent, to 17,033 as of 10:58 a.m. Eastern ...

Monday, September 29, 2014

Factory construction boosts economy - USA TODAY

After years of factory closings shrank the nation's industrial footprint, a mini-boom in plant construction is beginning to reverse the trend and fuel faster economic growth. A 12.6% surge in spending on non-residential structures — notably new and ...

Monday, September 29, 2014

Business Economists See Lower Interest Rates than the Fed Sees in Late 2015 - Wall Street Journal (blog)

Business economists are skeptical that the Federal Reserve's benchmark interest rate will top 1% by the end of next year as central bank officials project. The poll of 46 professional forecasters by the National Association for Business Economics ...

Monday, September 29, 2014

Buoyant Dollar Recovers Its Luster, Underlining Rebound in US Economy - New York Times

Yet the recent rally in the dollar — it has gained about 3.2 percent against the euro since Aug. 20, and about 8 percent against the yen since July 1 — underscores expectations that the United States economy will continue to grow at a faster clip ...

Friday, September 26, 2014

Stocks rally on strong GDP news - USA TODAY

Calm returned to Wall Street Friday morning as stocks rallied from the opening bell as traders reacted to news of the fastest economic growth since 2011. Following Wednesday's 264-point plunge, the Dow Jones industrial average was up about 70 points, ...

Friday, September 26, 2014

Get ready for rising interest rates — and stocks - MarketWatch

There is increasing evidence the Federal Reserve will tighten monetary policy in the next year, ending its bond-buying efforts and positioning itself to raise interest rates. Quantitative easing is effectively over, with the stimulus program scheduled ...

Friday, September 26, 2014

The American economy's great growth slowdown - Fortune

Like clockwork, it happens every year: public-sector forecasters like the Federal Reserve or the Congressional Budget Office revise down their projections for U.S. economic growth. In June, the Fed amended its projections for annual GDP growth in 2014 ...

Wednesday, September 03, 2014