Top News


Bernanke and Bond-Buying
09:35:43 - 07/23/2013
The Federal Reserves main goal at this point is to slowly start cutting back on quantitative easing towards the end of the year and completely eliminate it by mid 2014. “Federal Reserve Chairman Ben S. Bernanke in September will trim the Fed’s monthly bond buying to $65 billion from the current pace of $85 billion,” according to a growing number of economists surveyed by Bloomberg News.
Officials try to Reassure Residents over Detroit Bankruptcy
13:03:53 - 07/22/2013
The governor of Michigan had an emergency meeting to reassure the jittery residents that essential services would continue, despite the nation’s largest municipal bankruptcy filing. Business is supposed to continue as usual. People will come to work throughout the week and get paid just as before. Though, the tension is still high as the city of roughly 700,000 citizens is in a very nervous state.
Detroit Files For Bankruptcy
09:57:37 - 07/19/2013
The United States is making a magnificent recovery from the market crash of 2008. We are making such a magnificent recovery that the Federal Reserve has opted to slow down their bond-buying at the end of the year and completely eliminate it mid 2014.
Bernanke Plays Down Jobless Rate
08:43:32 - 07/18/2013
The Federal Reserve Chairman Ben Bernanke played down the unemployment rate’s weight in the central bank’s calculations of when they will start raising short-term borrowing cost. This is a perfect example of the challenge that the Fed faces explaining its monetary policies to the public.
Feds Wild Card
09:15:47 - 07/17/2013
The Federal Reserve plans to wind down its bond-buying program depending on if they can solve the economic puzzle that is the Job market, inflation rate and fiscal policy. Federal Reserve Chairman Ben Bernanke will get another chance to explain what the central bank’s thinking when he talks in front of Congress today and Thursday. These talks come after weeks of market volatility largely generated by the Fed’s plans to cut back bond buying.
Consumers Cut Back on Their Spending
08:46:26 - 07/16/2013
Consumers cut back on their spending in the month of June. Consumers bought more cars but cut back on other nonessentials, a clear sign that the economy is running through a rough patch in the middle of the year.
Business Confidence Declines
15:14:51 - 07/15/2013
Businesses around the world became gloomier about their prospect in June. This is a clear indication that they are unlikely to increase their investment spending and hiring. According to Wall Street Journal, “Of 11,000 manufacturers and services providers in 17 countries surveyed between June 12 and 26, the proportion expecting an increase in activity over the coming 12 months exceeded the proportion expecting a decline by 30 percentage points—down from 39 percentage points in February.” The slipping of business confidence is a clear indication that there is unlikely to be a considerable pickup in global economic activity this year.
June Budget Surplus
09:33:45 - 07/12/2013
The U.S. government posted the biggest June budget surplus on record after receiving big dividend payments from Fannie Mae and Freddie Mac. The month of June left the government on track for its smallest full-year shortfall since 2008! Revenues outpaced spending by $116.50 billion last month, compared with a $59.74 billion deficit a year earlier, according to the Treasury Department of the United States.
Federal Reserve in Continued Debates
09:12:19 - 07/11/2013
As we all know the current major hot topic for the economy is whether the Federal Reserve will start to slow down their stimulus program at the end of the year. The recent release of the Feds minutes of policy makers June meeting showed them debating whether or not to stop bond-buying starting in 2013.
Italy Credit Rating Cut to BBB
09:04:30 - 07/10/2013
Italy’s credit rating was lowered to BBB, which is two levels below junk by Standard & Poor. Standard & Poor see that the Italian economy has weakening economic prospects and a poor financial system.
Consumers Boost Borrowing
20:52:08 - 07/09/2013
Americans took on more debt in the month of May, in particular for education and cars. This is a sign that consumer spending is driving this lukewarm economic recovery. Consumer borrowing and spending are key indicators of economic health and recovery. The indicator is fairly straightforward.
Job Strength Keeps Fed On course
08:57:33 - 07/08/2013
Five years after the market crash and going through unconventional measures and policies aimed to support the economy, the Federal Reserve has finally seen a strong month. The month of June has shown the Federal Reserve that their efforts are finally paying off. According to the Wall Street Journal, “The jobs figures mean the Fed is likely to stay on the course Chairman Ben Bernanke plotted last month and begin to scale back its $85 billion-per-month bond-buying program later this year.
Big U.S. Banks Facing Tougher Standards
09:09:13 - 07/03/2013
Financial regulators have been stating that more action is needed to reduce risks posed by the nation’s largest banks. Well, the Federal Reserve outlined a plan for reining in the biggest banks during a meeting in which it unanimously approved a new capital framework for all banks. This information is all new as the decision was made on Tuesday and the details have yet to come to light.
Are Extended Unemployment Benefits Bad?
08:48:11 - 07/02/2013
Are extended unemployment benefits leading to higher rates of long-term unemployment? A new study released by the Federal Reserve asked this very same question and results showed a very interesting answer. The direct answer to the question was no, but with the way unemployment is measured it is still not clear how much these extra benefits are effecting rates.
China Manufacturing Falls
09:06:03 - 07/01/2013
Manufacturing is slowing down in china, a clear sign that the economy is struggling. Manufacturing fell in June, underscoring a sustained slowdown in the nation’s economy as policy makers seek to control financial speculation and real estate prices. According to Bloomberg News, “Weaker gains in manufacturing and a cash squeeze in the banking system add to odds that Li Keqiang will become the first premier to miss an annual growth target since the Asian financial crisis in 1998.

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