Fed’s Yellen Still Sees “Headwinds”
Fed No.2 Janet Yellen left the door wide open for a shift toward QE3, which has appeared more likely since the May jobs report. She noted “headwinds” in her comments before the Boston Economic…
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Newest first · Page 351Fed’s Beige Book Remains Positive & Ignores Most Recent Weakness
The Beige Book released today from May sounds a bit out to lunch. Maybe it is because the data is old, but the general trend here is more positive than negative. While none of…
Have America’s Most Crippled Regions Begun to Recover?
The Bureau of Economic Analysis released its data on GDP growth by state for 2011. One of the trends the data show are that many of the states most badly hurt by the recession…
U.S. Factory Orders Go Negative
The economic reports keep trickling in either near recession levels or already hitting recession levels. The slowdown in China is worse than it is being reported according to bear Marc Faber, and the European…
Retirement Age Will Rise to 80?
Robert Benmosche, the ailing CEO of AIG (NYSE: AIG), has suggested the retirement age in the United States could rise well above 65. If he is right, the impact on unemployment among young Americans…
Chicago Puchasing Managers Signals Recession Bias
For a Purchasing Managers report to be in recession and/or true contraction, the reading needs to be under 50.0. The May report from the Chicago Purchasing Managers Index came in at 52.7. Bloomberg had…
Everyone Still Unemployed California and Nevada
Unemployment in urban areas improved in most U.S. cities during April. Joblessness fell in 356 of the 372 largest U.S. metro areas, according to the Labor Department. Figures in most states improved as well. The worst…
Memorial Day as a Litmus Test for the Econony
The AAA issues a forecast of Memorial Day driving each year. It believes the rise will be 1.2% this weekend, helped in part by lower gas prices and an improved economy. The increase may…
Fed’s Dudley Downplays Inflation Risk
New York Federal Reserve Bank President William Dudley said today that he believes that the 2% inflation “objective” the Fed has adopted will eventually be higher than the real inflation rate: More generally, there…
Durable Goods & Weekly Jobless Claims Act From Mixed to Spoilers
We are seeing some caution in Durable Goods for April this morning, while the weekly jobless claims held very little surprise either way. Durable Goods looks in line with estimates on the surface, but…
NABE Outlook Survey Improves
The latest NABE Outlook Survey shows improved expecations for the economy. The data is based on the consensus of macroeconomic forecasts from a panel of 54 professional forecasters and covers the outlook for 2012…
Obama Summer Jobs
President Obama promised that new programs would provide 110,000 jobs for inner city youngsters this summer. The jobs will be added because of funds put through local programs in Philadelphia, Chicago, and San Francisco.…
Roubini Worries About Iran Crisis
Nouriel Roubini has come up with a new reason for concern that the global economy will come close to collapse next year. He told an audience at Milken Institute Global Conference that a military…
Richmond Fed President Lacker Attacks Rate Policy
Richmond Fed President Lacker went public with his objections to the Federal Reserve’s decision to keep rates low through 2014. He issued this statement: “The Federal Open Market Committee released a statement following its…
Laid-Off Workers Cause Little Pessimism
The presence of unemployed workers should make people who currently have jobs nervous. As the economy has rebounded, the number of people who have been out of work for more than a half a…