Released in time for campaign season, President Barack Obama’s advisers have released their annual Economic Report of the President — a document forecasting the economy for the fiscal years of 2014-2015. With stats showing the unemployment rate has dropped to a five-year low, the housing market improving and the economy growing 1.9 percent throughout 2013,…
Fed to Taper Another $10 Billion
As many expected, the Federal Reserve has decided to taper another $10 billion from its monthly bond-buying program. Wednesday’s decision follows the $10 billion reduction from last month and drops asset purchases down to $65 billion per month. Amid recent economic data, the Fed chose to continue their plan to exit monthly purchasing that initially…
December Job Growth Lowest Since January 2011
Momentum in the labor market has halted after months of higher-than-expected numbers, according to the most recent figures from the Labor Department. U.S. employers added just 74,000 jobs in December — the lowest pace since January 2011 — and missed its estimate by more than 120,000. The blame is falling on winter weather and many…
Brace for it: Janet Yellen Confirmed as Fed Chair
After months of wondering, we finally have confirmation: Janet Yellen is the next chair of the Federal Reserve. Her first day is February 1, after Ben Bernanke completes his term this month. Votes were 56 to 26 in her favor on Monday, though many senators were absent because of the poor weather in Washington. Those…
Fed Announces Slight Taper Plans
Following its much-anticipated two-day meeting, the Federal Reserve announced today that it will begin a moderate taper of its bond-buying program beginning in January. Rather than a monthly bond purchase of $85 billion, the Fed will now purchase $75 billion in bonds monthly. Further, the Fed announced in a press release it would keep short-term…
Growth Continues With November Job Report
The economy has seen a jolt for the second straight month as employers added 203,000 jobs in November. Unemployment dropped .3 percent to 7 percent, which is the lowest its been since 2008. Economists predicted November to add 180,000 jobs and for the labor market to fall just .1 percent, so statistics were better than…
