Don’t count on the economic growth spurt at the end of 2009 to carry into this year.
The economy grew at a blistering 5.7 percent pace in the final quarter of last year, according to a preliminary government estimate. And an updated estimate due out Friday is expected to produce the same figure, according to Wall [...]
Archive for February, 2010
Strong growth in Q4 likely to slow throughout 2010
February 26th, 2010 by Mortgage Writer
Tags: businesses, conomic activity, economy grew, home foreclosures, q4, unemployment, wall street
more...Economists React: Bernanke Has ‘No Interest in Surprising Markets’
February 25th, 2010 by Mortgage Writer
* Bernanke’s prepared testimony reaffirmed that an expected backdrop of low rates of resource utilization, subdued inflation, and stable inflation expectations is consistent with a low for long stance on policy interest rates. –David Hensley, J.P. Morgan Chase
* This is Bernanke reinforcing that rates are not moving in the near term, the Fed will need [...]
Tags: bernanke, congressional testimony, economists, federal reserve, jp morgan chase, surprising markets
Bernanke to outline exit path to skeptical Congress
February 24th, 2010 by Mortgage Writer
Ben Bernanke may have cleared the hurdles to his confirmation for a second term as Federal Reserve chairman, but that does not mean lawmakers will be any friendlier to him at high-profile hearings on Wednesday and Thursday.
The Fed chief’s semiannual report to Congress should feature both impassioned debate over financial regulation and lots of questions [...]
Tags: ben bernanke, central bank's, federal reserve, financial services, great depression, macroeconomic
Banks report small profit but ‘problem’ list jumps
February 23rd, 2010 by Mortgage Writer
America’s banks eked out a small profit in the fourth quarter as the economy recovered, but the number of banks considered troubled jumped to more than 700, the government reported Tuesday.
The Federal Deposit Insurance Corp. said banks essentially broke even in the October-December period. They earned $914 million, compared with a $37.8 billion loss in [...]
Tags: america's banks, economy recovered, FDIC, federal deposit, real estate loans
Stocks set to extend rally into fifth straight day
February 22nd, 2010 by Mortgage Writer
Stock futures rose modestly Monday as investors try to extend a market rally into a fifth straight day. Overseas markets were mixed.
Signs of a strengthening U.S. economy helped push stocks sharply higher last week. The Dow Jones industrial average rose for the second straight week, and posted its best weekly performance since early November after [...]
Tags: business economics, dow jones industrial, economic reports, stocks, US Economy, us sales
GE’s work force fell by 6 percent in 2009
February 20th, 2010 by Mortgage Writer
General Electric’s overall work force fell by about 6 percent worldwide in 2009 as it struggled to deal with the effects of the deep recession and financial crisis, according to a company regulatory filing Friday.
GE’s annual report shows the industrial and financial heavyweight reduced its overall employee head count by about 19,000 jobs to 304,000 [...]
Tags: capital lending, commercial real estate, financial companies, financial crisis, general electric, global downturn
Jobs, prices data flag hurdles for economy
February 18th, 2010 by Mortgage Writer
The number of U.S. workers filing new applications for unemployment insurance unexpectedly surged last week, while producer prices increased sharply in January, raising potential hurdles for the economic recovery.
Initial claims for state unemployment benefits increased 31,000 to 473,000, the Labor Department said on Thursday. That compared to market expectations for 430,000.
Another report from the department [...]
Tags: economic recovery, federal reserve, inflation, jobs, recession, unemployment, us stock, us workers
White House adviser says U.S. employment stable
February 17th, 2010 by Mortgage Writer
White House economic adviser Christina Romer said on Wednesday that the U.S. employment picture was stable, with job growth expected by spring.
Speaking on ABC’s Good Morning America program, Romer also said she believes there is bipartisan support in Congress to preserve jobs by providing new assistance to state governments struggling with yawning budget deficits.
President Barack [...]
Tags: economic adviser, employment growth, us employment, us jobless, white house
New York manufacturing picks up but China sells U.S. debt
February 16th, 2010 by Mortgage Writer
A regional U.S. manufacturing gauge published Monday hit its highest level since October, but also suggested a rebound in that sector might run out of momentum.
At the same time, U.S. capital flows data underscored analysts’ worry that the economic recovery could be stymied by a steep rise in bond yields, making borrowing more expensive for [...]
Tags: borrowing, business, economic recovery, homeowners, us capital flows, us debt
EU Leaders Meet to Avoid Greek Crisis
February 15th, 2010 by Mortgage Writer
After European Union leaders Thursday broadly pledged to support Greece, the bloc’s finance ministers are expected to hash out a more detailed contingency plan to ease the country’s debt crisis.
Nervous investors briefly were appeased by the EU leaders’ declaration, which called for countries that use the euro to take “determined and coordinated action, if needed, [...]
Tags: eu leaders, euro zone finance, european union leaders, greek crisis, Greek Economy
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