Economic Crisis in US

Stark warning for U.S.

editor — Fri, 30 Jul 2010 17:41:48 +0000

A top U.S. Federal Reserve official warned Thursday the U.S. economy is close to sliding toward Japanese-style deflation, and the current policy of keeping interest rates at near-zero for an extended period might exacerbate matters. James Bullard, president of the Federal Reserve Bank of St. Louis, said in a policy paper the best way to avoid [...]

U.S. economic growth slows to 2.4%

editor — Fri, 30 Jul 2010 14:28:05 +0000

The U.S. economy continued to grow during the second quarter, but the pace slowed even more than economists were expecting, according to a government report Friday. Gross domestic product, the broadest measure of the nation’s economic activity, rose at a 2.4% annual rate during the three months ended June 30, the Commerce Department said. The sluggish pace [...]

US economy improved in recent months

editor — Thu, 29 Jul 2010 15:37:36 +0000

Overall economic activity in the US improved in recent months but certain districts witnessed slowdown, according to the Federal Reserve. The apex bank also noted that manufacturing activities slowed down in certain parts of the country. These comments are part of the Federal Reserve’s latest Beige Book, which provides a snapshot of economic activities in 12 states, [...]

A crossroads for the U.S. economy

editor — Thu, 29 Jul 2010 14:13:59 +0000

The U.S. economy is out of the ditch. But is there enough gas left in the engine to reach highway speed? The recovery faces a crucial test over the next couple of months: Either it will pick up vital momentum from increased consumer spending and investment or stall out, dipping into a period of anemic growth [...]