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U.S. Economy

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Financial crisis panel tells NV leaders to be bold (AP)
Thu, 09 Sep 2010 01:11:07 GMT

AP - From mortgage problems to education and budget issues, Nevada leaders on Wednesday delivered a sobering assessment of the state's future as a result of the Great Recession during seven hours of testimony before a federal panel investigating the country's financial meltdown.

Obama: U.S. can't afford to extend tax cuts for rich (Reuters)
Thu, 09 Sep 2010 00:33:16 GMT

Reuters - President Barack Obama, fighting to keep Democrats in charge of Congress, said on Wednesday the United States could not afford to extend Bush-era tax cuts for the rich and accused Republicans of being fiscally irresponsible.

Obama: Democrats in trouble if election based on economy (AFP)
Wed, 08 Sep 2010 23:55:41 GMT

AFP - President Barack Obama admitted Wednesday if US voters in the upcoming midterm elections make their choices based on their opinion of the economy, his Democratic Party could be in big trouble.

Obama sees Democratic pain if vote hinges on economy (Reuters)
Wed, 08 Sep 2010 23:20:46 GMT

Reuters - President Barack Obama said on Wednesday that Democrats risked punishment in November's congressional elections if they allow the vote to be just about the U.S. economy, rather than the two parties' policies.

Wind-whipped fires add to Detroit's economic woes (AP)
Wed, 08 Sep 2010 23:14:18 GMT

AP - For a city already struggling with high unemployment, widespread foreclosures and deep budget cuts, here was another crisis: Wind-whipped fires tearing through row after row of homes, some of them abandoned.

More stimulus needed for economy: Geithner (Reuters)
Wed, 08 Sep 2010 22:43:31 GMT
Reuters - Treasury Secretary Timothy Geithner said on Wednesday the United States needed more incentives to stimulate job growth and bolster a slow recovery from a "savage" recession.

Fed survey sees slower growth in East and Midwest (AP)
Wed, 08 Sep 2010 22:07:53 GMT
AP - The economy lost strength in late summer as factory production weakened in areas of the East Coast and Midwest.

Summary Box: More places see slower growth (AP)
Wed, 08 Sep 2010 22:06:42 GMT
AP - ECONOMY LOSES SPEED: A Federal Reserve survey found "widespread signs" that economic growth had slowed in the late summer.

Obama seeks to mend frayed bond with voters (AFP)
Wed, 08 Sep 2010 22:02:52 GMT

AFP - US President Barack Obama Wednesday admitted some of his policies were unpopular and had not revived the economy quickly enough, but sought to rekindle his frayed bond with American voters.

Highlights from the Fed's latest economic survey (AP)
Wed, 08 Sep 2010 21:53:49 GMT
AP - Highlights from the Federal Reserve's survey of economic conditions nationwide. The survey, released Wednesday and known as the Beige Book, is based on information collected from the Fed's 12 regional bank districts.

Consumers cut back on credit card use once again (AP)
Wed, 08 Sep 2010 21:49:27 GMT
AP - Consumer borrowing fell again in July as households cut back on their credit card use for a 23rd consecutive month, adding more drag on an economy struggling to mount a sustained rebound.

Fed sees 'widespread' signs US economy is slowing (AFP)
Wed, 08 Sep 2010 21:43:40 GMT

AFP - The US economic recovery is showing "widespread" signs of slowing, the US Federal Reserve warned Wednesday, as it gears up for a key policy meeting later this month.

A look at economic developments around the globe (AP)
Wed, 08 Sep 2010 20:36:02 GMT
AP - TOKYO — Japan's machinery orders, a key gauge of future business investment, rose the most in seven months, a sign that companies are more confident in the economic recovery.

Geithner: U.S. scarred by "savage" recession (Reuters)
Wed, 08 Sep 2010 20:28:28 GMT
Reuters - Treasury Secretary Timothy Geithner said on Wednesday the United States is recovering slowly from a "savage" recession that has caused deep job cuts and a loss of confidence.

Fed report shows widespread signs growth easing (Reuters)
Wed, 08 Sep 2010 19:45:27 GMT

Reuters - The economy has shown "widespread signs" of slowing over recent weeks, the Federal Reserve said on Wednesday in a report suggesting that while the recovery has been faltering, the economy may skirt a second recession.

Obama tells Ohio audience of own family struggles (AP)
Wed, 08 Sep 2010 19:13:36 GMT

AP - President Barack Obama is getting a little personal about the sluggish economy, telling a Cleveland audience about his own family's struggles and hardships.

Fidel Castro says Cuban model no longer works (Reuters)
Wed, 08 Sep 2010 18:28:32 GMT

Reuters - Fidel Castro said Cuba's economic model no longer works, a U.S.-based journalist reported on Wednesday following interviews with the former president last week.

Summary Box: Canada ups key interest rate to 1 pct (AP)
Wed, 08 Sep 2010 18:26:34 GMT
AP - BANK OF CANADA UPS KEY RATE: Canada's central bank raised its benchmark interest rate by a quarter point to 1 percent, after similar moves in June and July.

(AP)
Wed, 08 Sep 2010 19:00:38 GMT
AP - Consumer borrowing falls again in July as credit card use falls for 23rd straight month.

Hungary won't seek to renew IMF, EU loans (AP)
Wed, 08 Sep 2010 17:04:50 GMT
AP - Hungary will not seek any more loans from the International Monetary Fund or the European Union and will be able to meet its financing needs by selling bonds to international and domestic investors, Economics Minister Gyorgy Matolcsy said Wednesday.