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Tag Archives: Economy

Despite stock fall, financial health of many is still solid

WASHINGTON — Many Americans have just absorbed a financial beating — at least as measured by their stock holdings. It’s the kind of blow that can feed a sense of helplessness about retirement, college savings and higher-than-expected bills. But take ...

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Administration says global economy needs more support

WASHINGTON — The Obama administration said Thursday that Germany, China, Japan and South Korea are four countries running large trade surpluses that need to do more to combat weak global growth. Issuing its latest currency report, the administration refrained from ...

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Fed struggled in 2009 over how to boost economy

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WASHINGTON — As the Great Recession inflicted worsening damage on the U.S. economy, the Federal Reserve struggled during 2009 to determine the best corrective steps to pursue. Transcripts of their meetings released Wednesday showed that the Fed’s policymakers feared the ...

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US will drive global growth in 2015

WASHINGTON — The United States is back, and ready to drive global growth in 2015. After long struggling to claw its way out of the Great Recession, the world’s biggest economy is on an extended win streak that is edging ...

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Japan’s young fret as unexpected recession hits

TOKYO — When Prime Minister Shinzo Abe responded to Japan’s surprise recession by delaying a sales-tax increase, it was a cause for worry, not celebration, for many young Japanese. This generation, barely aware of their country’s economic heyday, frets that ...

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Q&A: Why Japan’s economy needs more juice

TOKYO (AP) — Japan is pumping more money into its lagging economy, expanding an already lavish stimulus effort. The surprise announcement Friday highlights diverging fortunes among the world’s top economies. Earlier this week, the U.S. Federal Reserve ended its own ...

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US wealth gap putting the squeeze on state revenue

WASHINGTON — Income inequality is taking a toll on state governments. The widening gap between the wealthiest Americans and everyone else has been matched by a slowdown in state tax revenue, according to a report released Monday by Standard & ...

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Cuomo: Local min. wages would disrupt economy

ALBANY — Gov. Andrew Cuomo is opposed to letting individual municipalities set their own minimum wages and tax rates, as New York City Mayor Bill de Blasio wants to do. Cuomo said “we don’t want to have different cities with ...

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Phillips Lytle hosts Start-Up NY seminar

A lot of questions still surround the new Start-Up NY program launched by the governor last fall to jump-start the state’s economic engine. To help answer some of those questions, Phillips Lytle LLP invited various business people to an informational ...

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Fed bond purchases to drop by $10 billion in January

The news conference of Federal Reserve Chairman Ben Bernanke appears on a television screen at a trading post on the floor of the New York Stock Exchange on Wednesday. The Federal Reserve has decided to reduce its stimulus for the U.S. economy because the job market has shown steady improvement. The Fed will trim its $85 billion a month in bond purchases by $10 billion starting in January. AP Images

WASHINGTON — The Federal Reserve has decided to reduce its stimulus for the U.S. economy because the job market has shown steady improvement. The shift could lead to higher long-term borrowing rates for individuals and businesses. The Fed’s decision amounts ...

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