Economy News
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Fed's Fisher says U.S. "drowning in unemployment"
RICHARDSON, Texas - The United States is "drowning in unemployment," its economy is running at stall speed and inflation is "not a problem," but easier monetary policy is not the answer, one of the Federal Reserve's most hawkish policymakers said on Friday.
Wall Street banks not among Fed borrowers in Q3 2010
- The U.S. Federal Reserve on Friday named the banks that borrowed at its discount window during the third quarter of 2010 but the period showed limited activity and none of the biggest Wall Street firms had turned to the emergency facility for help.
Greece's 2013 budget to deepens cuts, sustain recession
ATHENS - Greece will unveil a draft budget for 2013 on Monday which will cut deeper into public spending to impress international lenders but also prolong the economic pain of the Greek people.
MGIC updates on Freddie Mac conditions
- MGIC Investment Corp said mortgage financier Freddie Mac has reduced the capital the mortgage insurer will need to add to its main unit, MGIC, in order to continue writing insurance throughout the United States.
Commerce chief sees good chance for U.S. investment boom
WASHINGTON - Abundant U.S. energy supplies and sluggish growth in Europe have created a "unique opportunity" for the United States to attract more business investment over the next several years, acting U.S. Commerce Secretary Rebecca Blank said on Friday.
Consumer sentiment gains to four-month high in September
NEW YORK - Consumer sentiment rose to its highest level in four months in September as Americans saw better prospects for the job market and economy, a survey released on Friday showed.
Pricey gasoline hits U.S. consumers, weighs on growth
WASHINGTON - U.S. households stretched to pay for costlier gasoline on meager income growth in August, undercutting spending on other items and pointing to lackluster economic growth.
Fed won't "enable" irresponsible fiscal policy-Bullard
WASHINGTON - The Federal Reserve will not "enable" bad fiscal policy by deliberately holding down borrowing costs to allow the U.S. government to go on a spending binge, a senior Federal Reserve official said on Thursday.
Pending home sales dip in August due to supply shortage
WASHINGTON - Contracts to buy previously owned U.S. homes slipped in August due to a shortage of lower priced inventory in most of the country, an industry group said on Thursday.
Fed balance sheet contracts in latest week
NEW YORK - The U.S. Federal Reserve's balance sheet shrank in the latest week with reduced holdings of agency and mortgage-backed securities despite the central bank's increased bond purchases, Fed data released on Thursday showed.
Markets
- U.S.
- Europe
- Asia
- Sectors
| DOW | 13,437.13 |  -48.84 |
-0.36% |
| S&P; 500 | 1,440.67 | -6.48 |
-0.45% |
| NASDAQ | 3,116.23 | -20.37 |
-0.65% |
| TR US Index | 130.22 | -0.56 |
-0.43% |
+78.09Sector Summary
| Energy | -0.78% |
| Basic Materials | -0.67% |
| Industrials | -0.63% |
| Cyclical Goods & Services | -0.86% |
| Non-Cyclical Goods & Services | -0.65% |
| Financials | -0.84% |
| Healthcare | -0.73% |
| Technology | -0.86% |
| Telecoms | -0.90% |
| Utilities | -0.47% |
Attempting to measure what QE3 will and won’t do
... the pressing question is whether a 0.32 percentage point reduction in the unemployment rate would be significant enough for the Fed to stop printing money.
Pay to play beyond Goldman Sachs
The SEC caught a big fish in muniland that was clearly breaking the “pay-to-play” rules. Pay-to-play is when municipal bond underwriters give contributions to politicians to win underwriting business.
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