Economy

West side view of the United States Capitol building.

An Increase in Minimum Wage Could Cost Business $15 Billion

The Congressional Budget Office released a report that claims that an increase in the national minimum wage to $10.10 will cost American businesses $15 billion in 2017. The debate about ...
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Smokestacks

Surge in Philly Fed Reading Contradicts Empire State Report

The Federal Reserve Bank of Philadelphia's Business Outlook Survey jumped from a reading of 9.0 in March to 16.6 in April. That was the strongest reading since last September, and ...
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Another Solid Week for Jobless Claims

The U.S. Labor Department has released its tally on weekly jobless claims, and the figure rose by 2,000 to 304,000. The prior week's reading was revised higher to 302,000 from ...
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Federal Reserve

Fed Beige Book Reflects Improved U.S. Economy

U.S. economic activity increased in most of the 12 Federal Reserve districts since the March report according to the April version of the Beige Book released Wednesday afternoon. Eight Fed ...
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Janet_yellen

Janet Yellen Talks Up Progress in Labor Market, Addresses Inflation

Federal Reserve Chair Janet Yellen spoke at the Economic Club of New York on Wednesday, April 16, regarding monetary policy and the economic recovery. The initial reaction was that the ...
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WMT strike Black Friday 2012

Workers Say Walmart Chairman Owes $7.8 Billion Tax

A new report from a coalition called Americans for Tax Fairness (ATF) claims that Wal-Mart Stores Inc. (NYSE: WMT), Chairman Rob Walton and the entire Walton family owe the United ...
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Inflation

Consumer Inflation Ticks Higher in March

The Consumer Price Index (CPI) in the month of March did not follow the exact same gains as last week's Producer Price Index. That generally takes two months or even ...
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Graphene Crystal

Over Half of Americans Think Taxes Too High

In the midst of a period when the U.S. government is cutting expenses and looking for more revenue to close the budget gap and slow the ballooning of the national ...
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Detroit Sells Homes for $1,000

Detroit has started to auction homes for as little as $1,000 each. Its Building Detroit website launched Monday with 15 homes and a series of rules buyers must follow once ...
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West side view of the United States Capitol building.

Budget Deficit Continues Shrinking

The Congressional Budget Office (CBO) released its updated estimate of the U.S. federal budget deficit on Monday afternoon. The agency now estimates that the fiscal year 2014 deficit will fall ...
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Russia

Russian Economy May Fall From World’s Top Ten

Russia is the world's seventh largest economy based on gross domestic product (GDP). The CIA World Factbook puts its GDP for 2013 at $2.55 trillion. An even modest contraction would ...
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shopping

Consumer Sentiment Rises to Nine-Month High

The preliminary April read on the Thomson Reuters/University of Michigan Consumer Sentiment Index rose to a nine-month high of 82.6. A survey of economists by Bloomberg had a consensus estimate ...
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factory

Inflation Finally Arrives — at Least at the Wholesale Level

If the Federal Reserve ever wanted to see some inflation -- as they keep claiming (careful what you wish for) -- the Labor Department just gave a first piece of ...
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Map of United States

Minnesota Raises Minimum Wage

Yet one more state is about to raise the minimum wage. At the current rate at which states are taking this action, the move by some members of Congress to ...
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Treasury Deficit at Decade Low in March

The U.S. Treasury may have had a successful 30-year Treasury Bond auction, but the Treasury budget deficit is alive and well. That means more deficits ahead. The Treasury's budget deficit ...
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