UK Suffers Credit Downgrade
Downgrades never come at a good time, but the Moody's decision makes the acute problem of Brexit worse.
Economy
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Halloween Spending to Reach Record $9.1 Billion, Says Retail Group
Americans plan to spend about $9 billion on Halloween-related items and activities this year, an increase of more than 8% from last year’s record.
Perhaps Markets and Investors Should Be Cheering S&P Downgrade of China
When investors hear that one of the world’s top credit ratings agencies has issued a sovereign downgrade of one of the world’s biggest nations, it tends to bring more than just some attention. On…
Maria Moves on to Dominican Republic After Destroying Puerto Rico
Hurricane Maria is moving on to the Dominican Republic after unleashing a torrent of wind and rain on the beleaguered island of Puerto Rico, which is still reeling from the fury of Hurricane Irma…
Forget the Fed Rate Hikes — It’s All About Shrinking the $4.5 Trillion Balance Sheet
Forget about being too nervous about the Federal Reserve hiking interest rates. In the September FOMC meeting, Janet Yellen and the FOMC have indicated that most Fed governors are expecting just one more interest…
How Investors and Economists Should View the Fed’s $4.5 Trillion Balance Sheet Reduction
Wednesday, September 20, 2017, will mark the Federal Reserve’s September Federal Open Market Committee (FOMC) meeting announcement. The announcement also will include forecasts by the Federal Reserve, and more importantly it should contain more detail on…
Maria Lands in Puerto Rico as Category 4 Hurricane, Takes Aim at Dominican Republic
Hurricane Maria, the latest in a parade of destructive storms, made landfall Wednesday morning as a strong Category 4 storm in southeastern Puerto Rico.
Hurricane Irma Property Damage Estimated at Up to $65 Billion
The total insured and uninsured loss for residential and commercial properties, including damage from flood and wind, from Hurricane Irma is estimated to be as much as $65 billion.
FOMC Target Inflation Rate Shows Up in Import & Export Prices
Though consumer prices and producer prices have been running below 2% for the most part, it turns out that the prices of imports and exports were both above 2% in the month of August.
Many Workers Will Get Tiny Raises in 2018
Despite an improved economy, new research shows most workers will not get an improvement in pay. To some extent, the move is a hangover from the Great Recession.
Hurricane Maria Looms in Caribbean as Busy Hurricane Season Grinds On
Hurricane Maria is stalking the same Caribbean islands that were ravaged by Irma earlier this month, as the tempest looks to put its stamp on the 2017 hurricane season, among the busiest in recent…
Nearly Half of Americans Plan to Make Substantial Purchase This Year
Nearly half of Americans say they are very likely to make a sizable purchase before the end of the year, according to a new .com report, an indication of continued consumer confidence and a…
Interior Secretary Endorses Shrinking 6 National Monuments
Interior Secretary Ryan Zinke is recommending that six of 27 national monuments under review by the Trump administration be reduced in size and proposes changes to several others.
How 2 Hurricanes Are Wrecking GDP Growth Hopes
While storms may drive a frenzy of buying goods tied to the home, the evidence has been mounting that two major storms are going to hurt GDP and industrial production.
August Retail Sales Sink on Weak Auto Sales
The U.S. Census Bureau reported Friday morning that August retail sales fell 0.2% month over month. Weak motor vehicle sales, which typically account for nearly a quarter of sales each month, get most of…