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Economy, Government & Policy

  • China's property market could threaten Beijing's plan to manage a slowdown in growth, as evidence mounts of a rapid cooling in what had been one of the few strong spots in the world's second-largest economy. But marked decelerations in property investment and sales, and a contraction in housing starts in the first quarter, …

  • [$$] Treasurys Post Biggest One-Day Drop in April @ The Wall Street Journal - 18 minutes ago

    A pair of upbeat U.S. economic reports put Treasurys on the defensive in a shortened holiday session, fueling the market's sharpest one-day drop this month.

  • [$$] @ The Wall Street Journal - 18 minutes ago

    New Yorkers optimistic about finding work boosted the city's labor force in March to its highest level since 1976, state labor statistics show.

  • Kansas Tries to Shrink Its Way to Prosperity @ BusinessWeek - 2 hours 32 minutes ago

    Governor Sam Brownback turns his state into a budget-cutting, tax-slashing, Tea Party laboratory

  • African Monetary Union Stirs Criticism of France @ BusinessWeek - 2 hours 35 minutes ago

    Former French colonies use a franc tied to the euro that critics say hinders economic growth

  • Sen. Levin: hedge funds and private equity firms are escaping scrutiny.

  • The wealth effect isn’t what it once was for the U.S. economy. While the wealth of American households has jumped more than $25 trillion since early 2009 amid rising equity and home prices, the pass-through to consumer spending is lagging the $1 trillion fillip that would have been anticipated historically, according to …

  • Bullock proposes $45 million in oil-patch grants

    Gov. Steve Bullock proposed a $45 million grant program Thursday to ease strains on water and sewer systems in eastern Montana towns that have struggled to keep pace with the demands of the fast-growing ...

  • * Obama budget seen adding $1.4 trillion in revenue over 10 years * CBO analysis to feed campaign rhetoric for November elections (Adds comparison between White House and CBO deficit estimates) WASHINGTON, April 17 (Reuters) - President Barack Obama's fiscal 2015 budget request would boost U.S. tax revenue by nearly $1.4 …

  • Fewer than 1 percent of partnerships with more than $100 million in assets, including hedge funds and private equity firms, are audited by the U.S. Internal Revenue Service, a government report said on Thursday. Despite a surge in the number of partnerships over the last decade, the IRS did not conduct field audits for …

  • Italian Prime Minister Matteo Renzi’s government is scheduled to pass measures today to revive the nation’s economy, including payroll-tax cuts starting next month. Renzi and his ministers are due to meet in Rome a day after Parliament approved a multi-year budget plan that forecast a 0.8 percent economic expansion this …

  • Chile's central bank, as expected, took a break from its easing cycle to keep its key interest rate on hold at 4.0 percent on Thursday, following a recent bump in inflation and somewhat stronger-than-expected growth. Faced with flagging growth and cooling domestic demand, especially in investment, the bank had cut its …

  • Business Highlights Associated Press - 6 hours ago

    ___ China factories face new challenge as growth slows Chinese manufacturers are discovering that being an efficient low-cost producer is no longer enough to prosper in the face of the country's slowing ...

  • CBO Challenges White House Budget Numbers The Fiscal Times - 6 hours ago
    CBO Challenges White House Budget Numbers

    Continuing its streak of issuing reports that make the White House look bad, the Congressional Budget Office, released an analysis of the President’s budget for 2015 on Thursday that found the administration’s claims of future deficit reduction were significantly overblown. The White House budget, which was issued last …

  • State economists report that Arizona's unemployment rate was flat in March, remaining at 7.3 percent as the economy added 15,600 nonfarm jobs. The Department of Administration says nine of 11 economic ...

  • Brazil's labor force participation rate is lower than the U.S. rate at the height of the financial crisis in 2008-09.

  • By Michael Lombardi, MBA We are told that in the month of January, inflation in the U.S. economy increased by one-tenth of a percent. In February, prices increased by a similar percentage. In the entire ...

  • Even though jobless claims rebounded, they are still in line with pre-recession levels, when about 320,000 initial claims were filed each week.

  • The Senate is expected to begin debating the bill, which would raise the minimum wage to $10.10 hourly, in two weeks.

  • Brazil's jobless rate dropped unexpectedly in March as fewer people sought jobs, highlighting a trend that has helped keep unemployment near record lows despite weak economic growth. Brazil's non-seasonally-adjusted jobless rate declined in March to 5.0 percent from 5.1 percent in February, statistics agency IBGE said …

  • Venezuela will replace its three legal foreign-exchange rates with a single valuation of 45 per dollar next year, representing a devaluation of as much as 86 percent, according to Bank of America Corp. “The government faces no major electoral constraint to a large devaluation of the currency,” Francisco Rodriguez , senior …

  • A Senate Democratic bill gradually increasing the federal minimum wage to $10.10 hourly would require private businesses to spend $15 billion more in salaries when it takes full effect in 2017, the Congressional ...

  • A rebounding Southern California economy will increase revenue to Los Angeles by 5.1 percent next year, though locked-in employee costs are growing even faster, City Administrative Officer Miguel Santana said. In an analysis of Mayor Eric Garcetti’s budget proposal, Santana predicted that expenditures would exceed revenues …

  • In a shocking new model, two economists show why "secular stagnation" is possible.

  • Wisconsin unemployment drops to 5.9 percent Associated Press - 9 hours ago

    Wisconsin's unemployment is down to 5.9 percent, its lowest level since November 2008. The state Department of Workforce Development reported Thursday that the unemployment rate was 5.9 percent in March, ...

  • Kansas unemployment unchanged in March Associated Press - 9 hours ago

    Unemployment held steady in Kansas during March, staying at a seasonally adjusted rate of 4.9 percent in March, the same as in February. The Kansas Department of Labor says Thursday that the rate compares ...

  • Bangkok’s Democracy Monument was erected to commemorate the 1932 coup that ended Thailand’s seven-century reign of kings, and became a rallying point last year for protesters seeking to oust the government. “Because of the uncertainty, government projects are on hold and some have been canceled,” said Khushroo Wadia, managing …

  • Please, Not Another IMF... @ Seeking Alpha - 9 hours ago

    Copying a Bad Idea Why is there an IMF? It seems a good question, so here is the short answer: in the post gold standard world, central bank-supported fractional reserve banking has enabled the emergence ...

  • The Philadelphia Federal Reserve Bank also said factory activity in the U.S. mid-Atlantic region picked up in April at a faster clip than expected. The data comes a day after Federal Reserve Chair Janet Yellen took an optimistic tone on the economy but also stressed that interest rate increases, still far away, will depend …

  • New Jersey’s unemployment rate rose by 0.1 percentage point to 7.2 percent in March, the first increase since July 2012, according to preliminary estimates released by the state Labor Department. Nonfarm employment fell by 1,300 jobs, with losses in government as well as in professional and business services, information, …

  • The French government will call a meeting with the country's top bankers over 2013 compensation rises awarded to their chief executives, Economy Minister Arnaud Montebourg said on Thursday. He said earnings for the CEO at Credit Agricole, France's third-biggest listed bank, rose 38 percent while they were up 29 percent …

  • To fuel economic growth and to achieve its target inflation, the Fed kept the short-term interest helping bond markets until the end of 2013, when the bond buying reduced for the first time.

  • Japan is showing signs of investment recovery with its new economic policies coming into play.

  • The official nonpartisan take on President Obama's 2015 budget proposal is in: He would curb deficits even more than today's policies. Of course, the budget wheels for next year are already in motion in ...

  • Italy again pushes back balanced budget goal Associated Press - 11 hours ago
    Italy again pushes back balanced budget goal

    Italy has again pushed back its balanced-budget goal, now aiming for 2016. Finance Minister Pier Carlo Padoan wrote to the European Commission this week, saying that because of Italy's stubborn economic ...

  • Minnesota labor force surpasses 3 million Associated Press - 11 hours ago

    Minnesota's labor force now tops 3 million, while the unemployment rate for March held steady at 4.8 percent. The Department of Employment and Economic Development showcased the 3 million figure Thursday ...

  • NJ unemployment rate inches up to 7.2 percent Associated Press - 11 hours ago

    Preliminary data show New Jersey's unemployment rate inched up to 7.2 in March from 7.1 the previous month as the state lost 1,300 jobs. The report released Thursday by the state Labor Department shows ...

  • Report: Mass. gains more than 8K jobs in March Associated Press - 11 hours ago

    Preliminary estimates show Massachusetts gained more than 8,000 jobs in March while the state's unemployment rate dropped to 6.3 percent from 6.5 percent the previous month, the state office of Labor and ...

  • Layoff data point to stronger job growth @ MarketWatch - 11 hours ago

    Employers are maintaining a slow pace of layoffs and the economy may soon see a pick up in jobs growth, economists said Thursday after the government released a weekly report on jobless claims.

  • Kansas officials are preparing to issue a new fiscal forecast to guide legislators and Gov. Sam Brownback in making budget decisions. Forecasters were meeting Thursday afternoon to revise earlier revenue ...

  • At the height of the euro zone debt crisis, with Portugal's economy nearing collapse, the European Commission told the government in Lisbon that it had to slash wages if it was ever going to boost competitiveness and grow again. It is just one of many examples Philippe Legrain, a former adviser to Commission President …

  • At the height of the euro zone debt crisis, with Portugal's economy nearing collapse, the European Commission told the government in Lisbon that it had to slash wages if it was ever going to boost competitiveness and grow again. It is just one of many examples Philippe Legrain, a former adviser to Commission President …

  • The U.S. Treasury Department is forming a unit on state and local finance to coordinate its responses to developments in the country's $3.7 trillion municipal bond market, a Treasury spokesperson said on Thursday. According to the spokesperson, J.P. Morgan's Managing Director for Public Finance Northeast Region and Housing …

  • As Detroit moved closer to plugging its massive financial hole this week, a stark fact of life was hammered home for thousands of retirees: Civilian employees, including sanitation and office workers, ...

  • Italy's parliament approved slower debt reduction and a delay in balancing the public budget on Thursday in a vote on the government's multi-year economic forecasts. The document outlining the assumptions, which must be approved by the European Commission, raises the target for Italy's huge public debt, the second largest …

  • Georgia jobless rate drops to 7 percent Associated Press - 12 hours ago

    State labor officials say Georgia's unemployment rate has dropped to 7 percent, the lowest rate since September 2008. The Georgia Department of Labor announced the new seasonally adjusted jobless rate ...

  • President Barack Obama ’s proposed 2015 budget would increase taxes by $1.4 trillion over the next decade compared with current law, the budget agency said. In a fresh analysis of the White House budget ...

  • Average US 30-year mortgage rate falls to 4.27 pct

    Average U.S. rates on fixed mortgages fell this week for the second straight week as the spring home-buying season begins. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year ...

  • Argentine President Cristina Fernandez is reversing some of the populist policies that defined her first six years in power and will have little choice but to stick to the new, more pragmatic path over the remaining 20 months of her final term. Confronted by falling dollar reserves, a weak economy and high inflation, Fernandez …

  • Brazil unveils $11 billion in 'legacy' budget Associated Press - 13 hours ago

    Brazilian government officials announced Wednesday that almost $11 billion (24.1 billion Brazilian reals) will be spent on major transportation and environmental projects, which they argue are not related ...

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