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USA Economy |
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FT.com - US and Canada, Economy & Fed
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FT.com - US and Canada, Economy & Fed
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Fed reports paper profit on Bear and AIG bail-outs
The US public's hope of getting repaid for the bail-outs of Bear Stearns and AIG in the financial crisis increased on Thursday after the Federal Reserve reported a paper profit for the first time on all the holdings of securities bought from the companies
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US consumers feel the economic strain
After speeding up from an annualised pace of 1.6 per cent in the fourth quarter of 2009 to 3 per cent in the first quarter of this year, consumer spending is expected to have risen by 2.4 per cent in the second quarter of 2010, validating concerns over cautious public spending
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US jobless claims drop more than expected
New claims for unemployment insurance fell in last week, offering a glimmer of hope that firings could be abating in the stricken labour market
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Senate fails to pass business lending bill
White House-backed effort to provide mini-stimulus to waning economic recovery breaks down after Democrats and Republicans trade familiar charges of bad faith
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Fed urged to opt for aggressive easing
James Bullard, president of the St Louis Fed, says promising to keep interest rates lower for longer increased the risk that the US would fall into Japan-style deflation
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Education is 'economic issue', says Obama
Barack Obama said education was "the economic issue of our time", linking America's declining public schools with its struggles to remain competitive
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Beige Book survey reports signs of slowdown
US economic activity has 'continued to increase' over the past seven weeks but there are signs of a slowdown, according to the Federal Reserve's latest Beige Book survey.
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US borrowers pay down mortgages
More homeowners are paying down their principal balances when they refinance their mortgages, reversing a trend that became popular during the housing bubble, when rising prices allowed borrowers to "cash out" by taking on more debt, Freddie Mac, the government-sponsored mortgage finance company, said
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Bernanke must end era of ultra-low rates
The market now thinks that whenever the financial sector's actions result in unemployment, the Fed will respond with ultra-low rates and easy liquidity, writes Raghuram Rajan
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Obama seeks backing for small business
The US president is asking Congress to pass a package that will provide a $30bn lending fund, eliminate capital gains tax on some investments and speed up tax deductions
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