Economy News
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Fed should buy as many bonds as necessary: Rosengren
WASHINGTON - A top Federal Reserve official said on Tuesday the Federal Reserve should launch another bond-buying program of whatever size and duration is necessary to get the economy back on its feet, signaling support from some U.S. policymakers for aggressive steps to boost the flagging recovery.
House panel seeks alternatives to Volcker rule
WASHINGTON - A top Republican lawmaker on Tuesday asked the financial industry to suggest alternatives to the hotly debated Volcker rule in advance of a planned fall hearing.
Consumer credit posts tepid growth in June
WASHINGTON - U.S. consumer credit posted its weakest growth in eight months in June as Americans reduced credit card debt, a potentially negative sign for an economy that has struggled to create jobs.
Fed should buy as many bonds as necessary: Rosengren
WASHINGTON - A top Federal Reserve official said on Tuesday the Federal Reserve should launch another bond-buying program of whatever size and duration is necessary to get the economy back on its feet, signaling support from some U.S. policymakers for aggressive steps to boost the flagging recovery.
Revenues grow, but state budgets "remain vulnerable"
CHICAGO - Revenues are improving and budget shortfalls are disappearing, but states face both domestic and international economic threats that could cut short their nascent recoveries, according to a report released on Tuesday.
Hiring picks up but not enough to sideline Fed
WASHINGTON - Employers hired the most workers in five months in July, but an increase in the jobless rate to 8.3 percent kept prospects of further monetary stimulus from the Federal Reserve on the table. | Video
Fed's Rosengren favors more bond purchases: New York Times
- The U.S. Federal Reserve should expand its holdings of mortgage bonds and Treasury securities until the central bank is satisfied with the health of the economy, Eric Rosengren, president of the Federal Reserve Bank of Boston, told the New York Times.
As elections loom, Fed's Fisher sees policy minefield
DALLAS - New steps by the U.S. Federal Reserve to stimulate the economy so close to a presidential election would be a mistake, a top Fed official said on Monday, warning it could create a false impression of bowing to political pressure.
Federal Reserve says U.S. bank lending conditions easing
WASHINGTON - The Federal Reserve said on Monday banks continued to ease lending standards for larger firms in the last three months but small businesses are still having a hard time accessing credit.
Public pension investments post losses in second quarter
- Public retirement systems, already hobbled by the financial crisis and recession, saw their investments dip in the second quarter, with a median loss of 1.73 percent, largely because of their reliance on equities, according to a report released on Monday.
Markets
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| DOW | 13,168.60 |  +51.09 |
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| S&P; 500 | 1,401.35 | +7.12 |
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| NASDAQ | 3,015.86 | +25.95 |
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| TR US Index | 126.51 | +0.75 |
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Sector Summary
| Energy |  -0.23% |
| Basic Materials | +0.21% |
| Industrials | +0.10% |
| Cyclical Goods & Services | +0.04% |
| Non-Cyclical Goods & Services | -0.05% |
| Financials | -0.11% |
| Healthcare | -0.16% |
| Technology | -0.10% |
| Telecoms | -0.20% |
| Utilities | -0.10% |
Inequality and the crisis: the other missing link of macroeconomics?
James Galbraith of UT Austin says inequality gets short-shrift in economics, and that helps explain why the discipline failed to predict the financial crisis.
California’s historic shift on prisons
California's correctional system is undergoing two unprecedented shifts as it moves its incarcerated from state prisons to county jails and as it delegates some decisions on punishment to the communities where felons committed their crimes.
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