Economy News
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Moody's warns may downgrade U.S. muni debt ratings
NEW YORK (Reuters) - Moody's on Wednesday warned it may downgrade some Aaa-rated U.S. states and municipalities if the country loses its top-notch rating or if federal funding falls significantly as part of a plan to reduce the nation's deficit.
Decline in home prices ebbs, consumers gloomy
NEW YORK (Reuters) - The plunge in U.S. home prices showed signs of leveling off in April, but worries about unemployment pushed consumer confidence to a seven-month low in June. | Video
Fed's Fisher: U.S. monetary policy "just about right"
ROUND ROCK, Texas (Reuters) - U.S. economic growth is poised to pick up next quarter, a top Federal Reserve official said on Tuesday, but faster growth does not necessarily dictate a need for tighter monetary policy.
Analysis: Bad old habits plague economic forecasting
LONDON/BANGALORE (Reuters)- Three years after the Great Recession ought to have challenged even the most basic assumptions made by economists, they have instead settled back into the costly habits of old.
Fed's Fisher: "fallow" demand capping price rises
ROUND ROCK, Texas (Reuters) - The recent rise in inflation is unlikely to continue because businesses will not be able to pass on higher costs to consumers, a top Federal Reserve official suggested on Tuesday.
Consumer spending breaks 10-month rising streak
WASHINGTON (Reuters) - Consumer spending failed to rise in May, breaking a string of 10 straight months of gains, as households struggled with rising prices and automakers could not deliver the models Americans wanted. | Video
Connecticut governor: Boost my budget-cutting power
NEW YORK (Reuters) - Connecticut Governor Dannel Malloy wants the state Legislature to give him more power to cut the budget and privatize state services, according to a plan issued on Wednesday.
Data points to underlying factory strength
WASHINGTON (Reuters) - New orders for U.S. manufactured goods and a gauge of business spending plans rose in May, easing fears of a sharp slowdown in factory activity. | Video
Fed's Kocherlakota says focused on core inflation
BIG SKY, Montana (Reuters) - Monetary policy decisions should be driven by the outlook for inflation rather than estimates of the "natural" rate of unemployment, a top Federal Reserve official suggested on Monday.
Obama call for stimulus may complicate debt talks
WASHINGTON (Reuters) - U.S. President Barack Obama called on Wednesday for new steps to spur job growth and tax hikes on the rich, hardening a stance that will likely complicate deficit reduction talks with Republicans. | Video
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| Utilities | +0.68% |
Give me liberty and give me cash!
Francis Fukuyama's controversial thesis that all states are moving inexorably towards liberal democracy gets some backing from a study by Russian investment bank Renaissance Capital into the link between economic wealth and democracy.
Don’t borrow in the dark, Governor Christie
Since there is so much demand in the muni bond market I was surprised to see that the State of New Jersey was going to set-up a “bridge loan” with J.P. Morgan Chase, one of Wall Street’s biggest banks. The specific details of the borrowing have not been announced but tidbits released in media suggest that the lending rate from the bank will be twice the rate from the muni bond markets.
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