US Economy

Bannon Is Out, but Economic Nationalism Still Thrives at the White House

By Linette Lopez, Business Insider

Just because Steve Bannon is out of the White House, doesn't mean that his ideas are gone — especially when it comes to economics.
More Good News on Jobs Gives the Fed a Green Light to Start Unwinding

By Lucia Mutikani, Reuters

The number of Americans filing for unemployment benefits fell to near a six-month low last week, pointing to a further tightening in the labor market that could encourage the Federal Reserve to lay...
The Walls Are Closing In as Allies Abandon Trump

By Rob Garver

Things have looked grim for Donald Trump’s future more than once in his relatively brief career as a politician. But on Wednesday, the cracks in the edifice of his public standing were really...
Household Debt in the US Just Hit an All-Time High

By Jonathan Spicer, Reuters

Americans' debt level notched another record high in the second quarter, after having earlier in the year surpassed its pre-crisis peak, on the back of modest rises in mortgage, auto and credit card...
Trump Is Headed for a Collision With the Auto Industry as NAFTA Talks Loom

By David Lawder, Reuters

The Trump administration has set a collision course with the auto industry as it launches renegotiations of the 23-year-old NAFTA trade pact this week, aiming to shrink a growing trade deficit with...

Here’s Why Trump Deserves Credit for the Stock Market Surge

By Liz Peek

As of Tuesday, the Dow Jones Industrial Average had scored record highs for nine days in a row; the gains are driving anti-Trumpers crazy. Though the president’s boasts are not always accurate,...
Are You Rich? Tax Reform May Answer That Question for You

By YLAN Q. MUI, CNBC

Whether to raise taxes on the rich is one of the thorniest issues in tax reform. Underlying that debate is an even more fundamental question: Who exactly qualifies as wealthy? Everyone can agree that...
A New Report Shows Why The 10-Year Jobs Crisis Is Effectively Over

By Jacqueline Leo

A new report by the Hamilton Project at the Brookings Institution has good news: "With [yesterday's] employment report, we can report that the national jobs gap relative to November 2007 has closed (...
Is Wage Growth Finally Coming for American Workers?

By Jeff Cox, CNBC

Wage growth has been the missing link throughout a period that has produced more than 18.5 million new jobs, including 209,000 in July. But Amy Glaser, who helps run Adecco Staffing, believes the...
Trump May Be in a Legislative Slump, but His Energy Agenda Is Getting Lots of Hits

By Tom DiChristopher, CNBC

President Donald Trump may be fuming over Republicans' failure to repeal and replace Obamacare, but he can certainly take solace in the GOP's swift overhaul of the Obama administration's energy and...

BofA reports first quarterly loss since 2011 on lofty legal bill

By Peter Rudegeair and Tanya Agrawal, Reuters

(Reuters) - Bank of America Corp reported an unexpected first-quarter loss on Wednesday after it took a $6 billion charge to cover litigation expenses, a figure that far exceeded the legal...
Iran expects next payment under nuclear deal, signaling compliance

By Fredrik Dahl and Mehrdad Balali, Reuters

VIENNA/DUBAI (Reuters) - Iran expects to get a fifth installment this week of previously blocked overseas funds, a senior official was quoted as saying, a payment that would confirm Tehran's...
Euro zone inflation sticks in 'danger zone', keeps ECB under pressure

By Reuters

BRUSSELS (Reuters) - A drop in March euro zone inflation to its lowest level since November 2009 was confirmed on Wednesday, keeping pressure on the European Central Bank to intervene if prices do...
Mt. Gox set to liquidate as court denies rehabilitation

By Ritsuko Ando, Reuters

(Reuters) - Mt. Gox, once the world's biggest bitcoin exchange, is likely to be liquidated after a Tokyo court dismissed the company's bid to resuscitate its business, the court-appointed...
CME trading outage showed that man can still match the machine

By Cezary Podkul and Tom Polansek, Reuters

NEW YORK/CHICAGO (Reuters) - Just over a week ago, CME Group Inc suffered the worst-ever trading outage on the world's most important agricultural markets, plunging electronic screens into darkness...

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