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Consumer confidence drops

October 26, 2007

Falling home prices and higher food and fuel prices drove consumer confidence lower this month. The Reuters/University of Michigan Index of Consumer Sentiment fell to 80.9 this month from 83.4 in August and September. This is a significant drop...

U.S. bracing for recession, survey says

October 25, 2007

Americans have become even gloomier about the economy, according to a survey by Bloomberg/Los Angeles Times. Sixty-five percent of the 1,209 adults polled expect a recession, with only 29% disagreeing, according to Bloomberg. Meanwhile, 51%...

'Full recovery' a ways off, says Bernanke

October 16, 2007

“Uncertainty remains unusually high” in U.S. markets as a result of the subprime- mortgage meltdown, Federal Reserve Chairman Ben Bernanke said last night. The market is in better shape than it was over the summer, partly due to the Fed’s...

Three Americans win economic Nobel

October 15, 2007

Americans Leonid Hurwiez, Eric Maskin and Roger Myerson were awarded the Nobel Memorial Prize in Economic Sciences, “for having laid the foundations of mechanism design theory,” the Nobel Foundation announced today. Mr. Hurwiez, 90, a Russian-born...

Richest get even richer

October 12, 2007

The wealthiest Americans took a record slice of the income pie in 2005, a bigger helping than in the late-1990s bull market. A new report from the Internal Revenue Service revealed that two years ago, the top 1% of earners took home 21.2% of...

Good news on jobs front

October 5, 2007

The United States added 110,000 new jobs last month, following a significant upward revision for the two prior months, the Department of Labor said. The department also revised its statistics for new jobs during July and August: 89,000 new positions...

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