Correspondent, Washington
Jason's Feed
Oct 17, 2014

U.S. housing recovery rolls on as groundbreaking rises

WASHINGTON (Reuters) – U.S. housing starts and permits rose in September, a signal the market’s modest recovery is supporting what appears to be growing strength in the broader economy.

Groundbreaking rose 6.3 percent to an annual 1.02 million-unit pace, the Commerce Department said on Friday.

Oct 16, 2014

Data show U.S. economic pulse still strong

WASHINGTON (Reuters) – The number of Americans filing new claims for jobless benefits fell to a 14-year low last week, while industrial output rose sharply in September, positive signals that could help ease fears over the economic outlook.

Initial claims for state unemployment benefits dropped 23,000 to a seasonally adjusted 264,000, the lowest level since 2000, the Labor Department said on Thursday.

Oct 16, 2014

U.S. jobless claims fall to lowest level in 14 years

WASHINGTON (Reuters) – The number of Americans filing new claims for jobless benefits fell to a 14-year low last week, a positive signal that could counter doubts over whether the economy is shifting into a higher gear.

Initial claims for state unemployment benefits dropped 23,000 to a seasonally adjusted 264,000, the lowest level since 2000, the Labor Department said on Thursday.

Oct 15, 2014

U.S. warns Europe on deflation, says ECB actions may fall short

WASHINGTON (Reuters) – The United States on Wednesday renewed a warning that Europe risks falling into a downward spiral of falling wages and prices, saying recent actions by the European Central Bank may not be enough to ward off deflation.

In a semiannual report to Congress, the U.S. Treasury Department also said Berlin could do more to help Europe, namely by boosting demand in the German economy, Europe’s largest.

Oct 15, 2014

U.S. retail sales, producer prices give cautionary signs on economy

WASHINGTON (Reuters) – U.S. retail sales declined in September and prices paid by businesses also fell, worrisome signs that consumer demand may be faltering while inflation is failing to gain traction.

The two reports on Wednesday could deepen concerns at the U.S. Federal Reserve over the readiness of the economy to absorb interest rate hikes planned to begin in the middle of next year.

Oct 15, 2014

White House to seek budget relief deal in Congress

WASHINGTON (Reuters) – The Obama administration will press Congress next year to ease planned austerity measures that threaten to drag on the economy, a White House official said on Tuesday.

Shaun Donovan, director of the Office of Management and Budget, said he wants to build on a deal reached in Congress last year that provided a temporary reprieve against so-called sequestration budget cuts.

Oct 12, 2014
Oct 11, 2014

Fed’s Evans says dollar putting downward pressure on inflation

WASHINGTON (Reuters) – A stronger dollar and weak global inflation are putting downward pressure on the pace of price increases in the U.S. economy, posing a challenge for the Federal Reserve, a top Fed official said on Saturday.

“The dollar, it puts downward pressure on our inflation,” Chicago Federal Reserve Bank President Charles Evans told a conference on the sidelines of the International Monetary Fund and World Bank fall meetings in Washington.

Oct 10, 2014

Europe growth pact floated as euro zone recession fears mount

WASHINGTON (Reuters) – Heeding global calls for action to shore up Europe’s sagging economy, euro zone’s top finance official proposed a new growth pact on Friday to break a policy logjam and spur reforms by rewarding countries with cheap funds and leeway on budget targets.

The International Monetary Fund, which cut its global growth forecasts for the third time this year this week, flagged Europe’s weakness as the top concern, a sentiment echoed by many policymakers, economists and investors.

Oct 9, 2014

U.S. jobless claims fall, point to labor market strength

WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits fell last week to nearly its lowest level since before the 2007-09 recession, a sign of growing steam in the U.S. labor market.

Initial claims for state unemployment benefits dropped 1,000 to a seasonally adjusted 287,000 in the week ended Oct. 4, the Labor Department said on Thursday.