Rising oil & food prices, unrest in the Middle East, declining house prices and a slew of other variables threaten to hamper a fragile US economic recovery.
Rising oil & food prices, unrest in the Middle East, declining house prices and a slew of other variables threaten to hamper a fragile US economic recovery.
Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that the outlook for the economy remains “unusually uncertain” as the US gauge of future economic activity dropped in June, the second decline in past 3 months, suggesting the economic recovery is weakening.
If the economy produces jobs over the next eight months at the same pace as it did over the past four months, the nation, under the Obama administration, will have created more jobs in 2010 alone than it did over the entire eight years of George W. Bush’s presidency.
Obama is beginning to look like a financial guru with investment performance that puts even the brightest Wall Streeters to shame. The Administration is presently making final preparations to sell its stake in the New York bank, according to one of my reliable industry sources. At Friday’s closing price for Citibank, the sale would net over $8 billion – by far the largest profit returned from any firm that accepted bailout funds
Daily update of talking points, central issues being discussed in Davos’ World Economic Forum 2010 by world leaders in politics, finance, central banks, corporate, energy, lobbyists and philanthropy.
China’s industrial production and trade surplus posted robust double-digit gains in October, indicating a strengthening recovery in the world’s third-largest economy. China, unlike the U.S. and other western industrial nations, has managed well in the advance of the global economic crisis.
Former Federal Reserve Bank Chair, Paul A. Volcker and Chair of President Obama’s Economic Recovery Advisory Board, has beed advocating for more aggressive reform and regulation of the financial industry, but is being resisted by the administration’s top economist – who have strong ties to Wall Street.
The Federal Reserve chairman, Ben S. Bernanke, speaking at a Brookings Institute Conference, said Tuesday that it was “very likely” that the recession had ended although he cautioned that it could be months before unemployment rates dropped significantly.
According to an article in today’s (2 Sept 2009) Wall Street Journal, Goldman Sachs’ Cheif U.S. Economist says that President Obama’s economic stimulus package is beginning to boost U.S. economic performance.
According to the most recent economic data released this week, the U.S. trade deficit in July hit the highest level in six months as a record rise in imports outpaced a third straight month’s increase in foreign demand for American products, according to government data released Thursday. This is a boon for the Obama recovery stimulus paln.
The world’s central bankers meeting for an annual Federal Reserve summer symposiun retreat say tougher regulatory reforms and oversight necessary for a full recovery, and agree to keep coordinated interest rates low to help boost global economic recovery.
Though you haven’t started hearing much about it yet in the MSM, there really are ‘gilmmers of hope’ on the economic horizon as President Obama’s aggressive stimulus and economic recovery agenda kicks into gear. Recent economic data is beginning to paint a bright pciture for recovery end of 09, into 2010.