Weekly Economic Update: December 17-21, 2012
GDP growth for the 3rd quarter was revised upwards to 3.1%. Existing home sales increased 5.9% in November as housing starts fell 3.0% and building permits rose 3.7%. Personal income rose 0.6% in November while personal spending increased 0.4%. Durable orders were up 0.7% in November. Initial jobles...
JEC response to the 2012 Economic Report of the President
The Joint Economic Committee filed its annual report responding to the 2012 Economic Report of the President.
JEC Republican response to 2012 Economic Report of the President
The Joint Economic Committee filed its annual report responding to the 2012 Economic Report of the President.
Weekly Economic Update: December 10-14, 2012
The Fed expanded its QE3 program and set levels of less than 6.5% unemployment or more than 2.5% inflation for ending its exceptionally accommodative policies. Industrial production increased 1.1% in November. The U.S. trade deficit widened 4.7% in October to $42.2 billion. The topline CPI fell 0.3%...
Federal Reserve Expands Quantitative Easing
The Federal Reserve announced today that it will expand its newest bond?buying program, which began in September 2012 and is known as “QE3,” to provide ongoing support to the anemic economic recovery. The Fed will continue purchasing federal agency mortgagebacked securities at a rate of $40 billion ...
Weekly Economic Update: December 3-7, 2012
The economy added 146,000 jobs in November as the unemployment rate declined to 7.7%. Consumer credit increased 0.5% to $2.753 trillion in September. Productivity increased 2.9% in the 3rd quarter of 2012. The ISM index declined 2.2 points to 49.5 in November as the ISM services index edged up 0....
Weekly Economic Update: November 26-30, 2012
GDP growth was revised upwards to 2.7% for the 3rd quarter of 2012. Personal income was unchanged in October as personal spending fell 0.2%. New home sales declined 0.3% in October. Pending home sales rose 5.2% in October. The Case-Shiller home price index was up 3.0% in September. Durable orders we...
Real GDP Growth Revised Up to 2.7% in 3rd Quarter
The Bureau of Economic Analysis (BEA) revised its estimate of real gross domestic product (GDP) growth upwards by 0.7 percentage point to 2.7% today. BEA had previously estimated that real GDP grew at an annual rate of 2.0% during the quarter. The 3rd?estimate of 3rd?quarter GDP will be released on ...
LENDER OF LAST RESORT IN THE MODERN FINANCIAL SYSTEM
Bailouts and Lender of Last Resort functions are distinctly different in their purpose, economic effects, and appropriateness in a free market economy.
Weekly Economic Update: November 19-23, 2012
Existing home sales rose 2.1% in October as housing starts increased 3.6% and building permits fell 2.7%. Initial jobless claims dropped 41,000 to 410,000 for the week ended 11/16.
