Economy News
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Hiring picks up but not enough to sideline Fed
WASHINGTON - Employers hired the most workers in five months in July, but an increase in the jobless rate to 8.3 percent kept prospects of further monetary stimulus from the Federal Reserve on the table. | Video
Senate confirms top Treasury Department tax official
WASHINGTON - The Senate has confirmed Mark Mazur as the Treasury Department's assistant secretary for tax policy, making him a top tax official in the Obama administration as major tax policy decisions lie ahead.
Majority of Wall Street dealers still expect Fed QE3
NEW YORK - Despite improved hiring last month, most Wall Street economists still expect the Federal Reserve to do more to stimulate growth this year, with the majority looking for action as soon as September.
Get a jump on the tax-change stalemate
- Thanks to the cliffhanger in Washington over looming tax changes, financial planners have a tough few months ahead.
U.S. service sector growth gains modestly in July: ISM
NEW YORK - The pace of growth in the vast services sector edged up in July as new orders gained, but employment fell to its lowest level in nearly a year, according to an industry report released on Friday.
U.S. future economic growth gauge falls: ECRI
NEW YORK - A measure of future economic growth fell in the latest week, while the annualized growth rate rose, a research group said on Friday.
Lacker says Fed rate hike could come before late 2014
WASHINGTON - The Federal Reserve may need to raise official interest rates before late 2014, Richmond Fed President Jeffrey Lacker said on Friday, justifying his dissent against the central bank's latest decision.
IRS leader's exit worries officials amid tax uncertainty
WASHINGTON - The chief of the Internal Revenue Service is expected to step down soon and some former officials of the tax-collecting agency expressed concern on Thursday about what that means for major tax policy issues in the coming months.
Economic data underscores weakening activity
WASHINGTON - The number of Americans filing new claims for jobless benefits rose last week and manufacturers suffered an unexpected drop in orders in June, suggesting the economy is struggling to break out of a soft patch. | Video
Fed says economy may need help, keeps policy on hold
WASHINGTON - The Federal Reserve stopped short of offering new monetary stimulus on Wednesday even as it signaled more strongly that further bond buying could be in store to help a economic recovery that it said had lost momentum this year. | Video
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Does the European crisis need to get worse to get better?
Because Spain and Italy must first request formal bailouts in order for the ECB to reactivate its bond buying program, things may have to get worse before they get better.
The slow rebound of municipal bond insurers
All the bond insurers blew up during the financial crisis. Now a new firm called Build America Mutual, or BAM, has sprung up. Structured as a "mutual" insurance firm for municipalities, it is set up well, with policyholders jointly sharing risks for their debt commitments.
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