This week, House Republicans called for a criminal probe of Jon Corzine, the former New Jersey governor and former CEO of MF Global. Republicans allege that Corzine may have committed perjury when testifying in front of Congress after his firm’s collapse. Actually, Corzine personally ran MF Global into the ground. In October 2011, MF Global…
On Tuesday, Federal Reserve Bank of Chicago President Charles Evans announced that he wouldn’t be surprised if the central bank begins to taper its $85 billion monthly bond-buying program in September. Evans is the third official this week to signal a QE taper. Richard Fisher, president of the Dallas Fed, and Dennis Lockhart, president of…
The harder we work, the less we make. That seems to be the mantra of the Obama recovery. That is, if we have a job. In the last four years, real median household income has fallen during both the recession and the recovery. Amazing. It’s like still standing in the muck after the ebb tide.…
On July 21, the Dodd-Frank Act turned three years old.
But, unlike most three-year-olds who can walk and talk, this one hasn’t gotten out of the crib yet…
With Ben Bernanke prepared to step down as Federal Reserve chairman within the next year, the human resource debacle of locating the next Federal Reserve chair is underway.
U.S. and global companies may be sitting atop piles of cash as the stock market hovers near all-time highs, but total capital expenditures likely will fall over the next two years.
Reductions in capital expenditure in heavy spending commodity sectors, such as energy and mining, will drive down inflation-adjusted spending by 2 percent in 2013 and 5 percent in 2014, according to Standard and Poor’s.
Capital expenditures, the money used by businesses to purchase or upgrade physical assets, are one of four ways that companies typically spend profits.
Despite stocks soaring over the last few months, mixed feelings over the global economic recovery, falling commodity prices, and profit margin pressures are holding back company spending on much-needed project development for future growth, according to the ratings agency.
The stock market was rattled on Tuesday by underperforming manufacturing data.
The Richmond Federal Reserve Index, which measures manufacturing performance in the upper Southeast and mid-Atlantic regions, fell to -11 in July, down from a 7 in June. This signals a significant drop in new orders and shipments.
This comes just a week after the Philadelphia Federal Reserve Index reached a two-year high, which had rallied the market. Such a drastic swing in confidence in the manufacturing sector suggests that uncertainty will stretch into the late summer.
The data comes at a pivotal time for the Obama administration. For the eleventh time in his presidency (by ABC News’ count), Obama announced that he will pivot back to the economy in an effort to create jobs, with a strong emphasis on U.S. manufacturing.
Even though the New York Stock Exchange (NYSE) recently touched all-time highs, American companies are reluctant to hire, particularly with greater uncertainty on the horizon. Perhaps if the President wishes to create new jobs, the administration should address the primary reasons why companies are not hiring in ways that would reflect strong economic growth, as the markets falsely reflect.
Here are five reasons why companies are not hiring right now.
On August 2, the Bureau of Labor Statistics will report the official unemployment rate. But this number doesn’t tell the accurate story of the jobs picture here in the United States.
Last week, four senators that include Elizabeth Warren (D-Mass.) and John McCain (R-Ariz.) introduced a bill to reinstate the Glass-Steagall Act.
Elizabeth Warren (D-Mas.s) , John McCain (R-Ariz.), Maria Cantwell (D-Wash.), and Angus Kin (I-Maine) introduced legislation that would again separate bank’s traditional activities (like deposits currently backed by the Federal Deposit Insurance Corp.) from riskier activities like investment banking, insurance underwriting, swap dealing, and hedge funds.