Category: Economy

It’s Definitely Time for Big Banks to Beware

It’s Definitely Time for Big Banks to Beware

The Senate Banking Committee held a confirmation hearing for Janet Yellen this morning, who has been nominated to be the 15th Chair of the Federal Reserve (and the first woman). Though Fed chairman and...

Walmart Sales Dip as Low-Income Americans Close Wallets

Walmart Sales Dip as Low-Income Americans Close Wallets

Walmart posted its third straight quarterly decline in United States sales on Thursday, pushing its stock price down 1.3 percent in pre-market trading and signaling a reluctance to spend among the company’s low-income customer...

Despite Mixed Headlines, Today’s Jobs Report is Still a Bummer

Despite Mixed Headlines, Today’s Jobs Report is Still a Bummer

The October jobs report came as a bit of surprise for analysts who were expecting the government shutdown to severely affect job growth, as the Labor Department announced the economy added a pretty robust...

Coporate America’s Hidden Hand in Government Programs

Coporate America’s Hidden Hand in Government Programs

A glitch earlier this month that kept food stamp recipients in 17 states from accessing their benefits drew attention to the role office giant Xerox plays in electronic benefits transfers. Last week, USA Today...

U.S. Unemployment Aid Applications Drop to 350,000

U.S. Unemployment Aid Applications Drop to 350,000

The number of people seeking U.S. unemployment benefits dropped 12,000 to a seasonally adjusted 350,000 last week, though the total was elevated for the third straight week by technical problems in California. The Labor...

DC’s Debt Deal Gets a ‘C-’

DC’s Debt Deal Gets a ‘C-’

The federal government is up and running after a last-minute deal between Republicans and Democrats ended the shutdown. The agreement also raised the debt ceiling so the government can pay its bills—for now. Washington...

Student Loans Are Becoming a Drag on the US Economy

Student Loans Are Becoming a Drag on the US Economy

The housing recovery remains on track. But high levels of student debt threaten to hang over the residential real estate market for many years, acting as a drag on both household formation and higher...

S&P Says Government Shutdown Cost U.S. Economy $24 Billion

S&P Says Government Shutdown Cost U.S. Economy $24 Billion

The ratings agency said more than two-week long government shutdown has cost the economy $24 billion — or $1.5 billion per day — reducing S&P’s September forecast of 3 percent annualized fourth-quarter 2013 GDP...

Tomorrow Isn’t the Ultimate Deadline for Lifting the Debt Ceiling (But It’s Coming Soon)

Tomorrow Isn’t the Ultimate Deadline for Lifting the Debt Ceiling (But It’s Coming Soon)

Lawmakers in Washington are scrambling to get a deal done to raise the debt ceiling deal done before tomorrow, when the Treasury Department says it will have exhausted the extraordinary measures it has been...