FOMC Decision on Rates — Kicking the Can Down the Road
The decision on interest rates from the Federal Open Market Committee (FOMC) has finally been made. As we expected, no rate hike was seen.
Economy
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California Now World’s Sixth-Largest Economy
If the state of California were its own country, it would have the sixth-largest economy in the world, ahead of India and France.
Empire State Manufacturing Posts Unexpected Big Gain
Wednesday's barrage of economic reports included the June reading for the Empire State Manufacturing Survey.
Industrial Production and Capacity Utilization Scream Weakness Into Fed Decision on Interest Rates
If the investing community wanted good news on the reports for industrial production and capacity utilization, they are going to have to search elsewhere.
Sustained Growth Remains Elusive: Business Roundtable
The Business Roundtable CEO Economic Outlook Index increased from 69.4 in the first quarter of this year to 73.5 in the second quarter, according to the latest survey.
Import and Export Prices Heading Up
Import prices rose more than expected in May, which will give the Federal Reserve at least some hope of price increases — and that they were not just tied to oil.
Business Inventories Continue Muted Gains
Business inventories remained quite subdued in the month of April. That shows a continued muted inventory climate in which businesses just do not seem eager to restock.
Small Business Optimism Up Slightly in May
The National Federation of Independent Business (NFIB) Tuesday morning reported that its small business optimism index for May rose but remains well below the index's 42-year average.
Charitable Donations Hit $383 Billion, With $265 Billion From Individuals
Annual charitable giving reached another annual record last year, and the bulk of the donations continued to be from individual donors.
8 Reasons the Brazil Olympics Should Be Cancelled
The Rio de Janeiro Olympic Games are just weeks away, and still there is a chance the games could be ruined or should be cancelled.
Wholesale Inventories Rise More Than Expected
Wholesale inventories increased sharply in April, a positive surprise at a time when more economic weakness has been seen than strength.
Weekly Jobless Claims Not Signaling Any Major Changes Either Way
The U.S. Department of Labor has released yet another weekly jobless claims report and the news did not get worse, as other labor data have suggested of late.
Income of Top 1% Increases 188%: CBO
The rich did get richer, with the income of the top 1% of Americans rising 188% between 1979 and 2013, according to the Congressional Budget Office.
US Credit Card Debt to Hit $1 Trillion in 2016
Total credit card debt at the end of last year had reached $919.1 billion, and at current growth rates, should wind up 2016 at roughly $1 trillion.
Washington DC Approves $15 Minimum Hourly Wage
The Washington, D.C., city council on Tuesday approved unanimously a measure to raise the city's minimum hourly wage to $15 by 2020.