FRIDAY, MAY 4, 2012   ECONOMICS: Jobs Report Will Provide Fodder for Campaigns (Wall Street Journal) By Laura Meckler and Sara Murray Politically speaking, Friday’s unemployment report will boil down to a simple set of numbers: two men, one job. Mitt Romney and President Barack Obama’s campaigns will be combing the figures on April job growth … Continue reading →

THURSDAY, MAY 3, 2012   ECONOMICS: Treasury: Tax receipts not changing deadline on $16.4T debt limit (The Hill) By Peter Schroeder Lawmakers will not have to re-fight their epic battle over raising the debt ceiling until after the November elections, according to the Treasury Department. April tax receipts have not moved Treasury’s debt-ceiling target date, and … Continue reading →

WEDNESDAY, MAY 2, 2012   ECONOMICS: Growth in Manufacturing Is Highest in Almost a Year (New York Times) By The Associated Press Manufacturing grew last month at the fastest rate in 10 months, suggesting that the economy is healthier than recent data had indicated. New orders, production and a measure of hiring all rose. The April … Continue reading →

TUESDAY, MAY 1, 2012   ECONOMICS: Krugman Says Fed ‘Reckless’ to Allow High Jobless Rate (Bloomberg) By Timothy R. Homan and Trish Regan Nobel Prize-winning economist Paul Krugman suggested Federal Reserve policy makers led by Ben S. Bernanke are “reckless” for refusing to pursue higher inflation, which he said could lower U.S. unemployment. “The reckless thing … Continue reading →

MONDAY, APRIL 30, 2012   ECONOMICS: Housing Ends Slide but Faces a Long Bottom (Wall Street Journal) By Nick Timiraos Nearly six years after home prices started falling, more U.S. housing markets appear to be nearing a new phase: a prolonged bottom. Hitting a bottom, of course, isn’t the same as a full-fledged recovery, which is … Continue reading →

FRIDAY, APRIL 27, 2012   ECONOMICS: U.S. Firms Add Jobs, but Mostly Overseas (Wall Street Journal) By Scott Thurm Thirty-five big U.S.-based multinational companies added jobs much faster than other U.S. employers in the past two years, but nearly three-fourths of those jobs were overseas, according to a Wall Street Journal analysis. Those companies, which include … Continue reading →

THURSDAY, APRIL 26, 2012   ECONOMICS: Fed Cuts U.S. Growth Forecast for 2013 and 2014 (New York Times) By Binyamin Appelbaum The Federal Reserve chairman, Ben S. Bernanke, on Wednesday dismissed proposals to escalate the Fed’s economic stimulus campaign as “reckless,” arguing that the costs would be high and the benefits uncertain. Mr. Bernanke spoke after … Continue reading →

WEDNESDAY, APRIL 25, 2012   ECONOMICS: Fed Officials Weigh Rules-Based Policy That Stay Flexible (Bloomberg Businessweek) By Steve Matthews and Jeff Kearns Federal Reserve officials are struggling to find consensus on a policy rule that’s predictable to investors yet flexible enough to adjust to shifts in the economy or markets. Vice Chairman Janet Yellen and Philadelphia … Continue reading →

TUESDAY, APRIL 24, 2012   ECONOMICS: OPINION: High Tax Rates Won’t Slow Growth (Wall Street Journal) By Peter Diamond and Emmanuel Saez The share of pre-tax income accruing to the top 1% of earners in the U.S. has more than doubled to about 20% in 2010 from less than 10% in the 1970s. At the same … Continue reading →

MONDAY, APRIL 23, 2012   ECONOMICS: Bernanke Charts New Mission for the Fed: Financial Stability http://www.americanbanker.com/issues/177_77/bernanke-fed-chairman-financial-stability-1048606-1.html While by law the Federal Reserve Board must worry about price stability and unemployment, Chairman Ben Bernanke appears to have charted a third mandate for the central bank: financial stability. In his speeches, lectures and testimony, Bernanke has steadily … Continue reading →