People walk past the Capitol Dome ahead of an expected vote in the impeachment trial of U.S. President Donald Trump on Capitol Hill in Washington, February 5, 2020. Joshua Roberts | Reuters The sea of red ink is getting deeper and deeper in Washington, with the federal government already racking up a budget deficit that […]
Tag: Breaking news
Fed’s Mary Daly says current interest rates put economy ‘in a good place to weather the storms’
San Francisco Fed President Mary Daly said Wednesday that she did not think the Fed needs to lower interest rates to offset the effects of the coronavirus outbreak or other economic headwinds. Appearing on CNBC’s “Power Lunch,” Daly said she did not think the outbreak would do anything “material” to the U.S. economy, even with […]
Cory Booker drops out of 2020 presidential race
Sen. Cory Booker, D-N.J., dropped out of the 2020 presidential race Monday, after failing to gain traction in national polls and failing to qualify for two Democratic debates. “Today I’m suspending my campaign for president in the same spirit with which it began,” Booker said in a video posted Monday morning. “It is my faith […]
Budget deficit topped $1 trillion in 2019, the first time in 7 years
The U.S. fiscal deficit topped $1 trillion in 2019, the first time it has passed that level in a calendar year since 2012, according to Treasury Department figures released Monday. The budget shortfall hit $1.02 trillion for the January-to-December period, a 17.1% increase from 2018, which itself had seen a 28.2% jump from the previous […]
Amazon says uninstall Honey, which PayPal just paid $4 million for
Honey co-founders Ryan Hudson and George Ruan. PayPal Amazon has a beef with the start-up PayPal recently acquired, Honey. During the height of the holiday shopping season, the e-commerce giant warned some users that the browser extension could be a “security issue.” “Honey tracks your private shopping behavior, collects data like your order history and […]
Manufacturing jobs ‘tough to fill,’ weak spot in employment picture
In a year that featured otherwise solid job growth, manufacturing stood out as one sector that lagged behind. It’s not that the jobs aren’t there: There were still 477,000 open positions as of October, down less than 5% from the year-ago level, according to the Labor Department’s most recent data. Instead, it’s more a case […]
Only 145K payrolls added, 3.5% unemployment
WASHINGTON — The U.S. jobs market ended 2019 on a sour note, with December’s payroll and wage growth missing expectations, according to Labor Department figures released Friday. Nonfarm payrolls increased by just 145,000 while the unemployment rate held steady at 3.5%. Economists surveyed by Dow Jones had been looking for job growth of 160,000. The […]
Fed policy is in a ‘good place’ but will remain flexible
Richard Clarida Scott Mlyn | CNBC The Federal Reserve is in “a good place” with monetary policy but remains flexible both with interest rates and its operations to tame the overnight borrowing market known as repo, Vice Chairman Richard Clarida said Thursday. As the central bank embarks on a year during which it is not […]
ADP Moody’s private payrolls December 2019 surge
Recruiters and job seekers are seen at a job fair. Rick Wilking | Reuters Private payroll growth ended 2019 on a strong note, with companies adding 202,000 positions in December in another sign of a healthy labor market, according to a report Wednesday from ADP and Moody’s Analytics. The total was well above the 150,000 […]
US trade deficit at $43.09B in November, vs $43.6B estimate
The U.S. trade deficit fell more than expected in November ahead of negotiations with China that cooled the simmering tariff battle between the two sides. The shortfall in goods and services declined to $43.09 billion for the month, below the $43.6 estimate from economists surveyed by Dow Jones. That represented the lowest deficit since October […]