The nation's employers added 271,000 jobs in October, and the unemployment rate ticked down slightly to 5 percent in a solid report on labor market conditions. Wages grew 2.5 percent over the past year, their strongest yearly performance since the recession officially ended in June 2009.
No one knows how tomorrow's October jobs report will affect Federal Reserve policymakers' views about whether to start raising interest rates in December. But here are some things to consider in assessing whether the job market is making the "continued progress toward maximum employment" that the Fed wants to see.
One of the biggest problems with the language surrounding credit cards is the obscurity and disconnect around credit card APR. Looking through different card offers, you'll generally see credit card APR vary from 10% to 20% -- ValuePenguin research indicates the average sits at around 17.5%.
We want to know why the Federal Reserve, funded and heavily run by the banks, is keeping interest rates so low that we receive virtually no income for our hard-earned savings while the Fed lets the big banks borrow money for virtually no interest.
statement. They are still worried, so they will watch the next month's worth of data on labor markets and inflation before they make up their minds. What?!
Back in 2008, the global economy was severely injured, and policymakers have been struggling to provide the right medicine to heal it.
Last week, the Democrats received an unexpected gift from the Federal Reserve Board. Lael Brainard, a member of the Fed's Board of Governors, gave a speech in which she questioned the need for the Fed to raise interest rates.
Even former Fed Chair Ben Bernanke has been irked by right wing conservatives for doing just the thing that most conservative economists, such as Martin Feldstein, and even arch-free market theorist Milton Friedman, said was the right thing to do during recessions--inject more money into the economy.
The fiscal implications of the sharp decline in commodity prices are very large. The deterioration in the 2015 primary balance in commodity exporting countries is about 5 percentage points of GDP on average, with countries like Saudi Arabia and Venezuela experiencing a particularly sharp decline.
Last week, Republican presidential candidate Donald Trump released his plan for changing the tax code. Many of the reports on the plan commented on the growth assumption and pointed out that few, if any, economists took it seriously. As a practical matter, we have seen this story before.
Investors, traders, savers and homebuyers - young and old - were fixated on last week's Federal Reserve interest rate announcement, especially in the wake of recent market volatility.
Investors have lost faith in Brazil, and rightfully so. The currency has lost 36% of its value against the U.S. dollar this year, plunging nearly 7% in the last week alone. Yields on its bond issues are spiking, as investors demand higher and higher rates to loan Brazil or Brazilian companies money.
Last May, I mused on the possibility of a tech bubble and projected that the NASDAQ would plateau for the remainder of 2015. Midway through these expectations, let's calibrate my crystal ball...
Inflation won't happen in the near future because it's as much due to misguided government policies by the modern Austerians that have stopped eurozone growth by demanding draconian cuts in government spending and budget deficits that would create growth.
The U.S. economy has been slowly rebuilding itself for more than a decade, and the Federal Reserve has played an important role. Now, however, it is a virtual certainty that the interest rate will begin increasing before the end of the year, and perhaps even by the end of September.
Will those edgy portfolio investors stampede indiscriminately out of--and wreak havoc among--middle- and low-income countries if the Fed lifts interest rates this September, for the first time in almost a decade?