US recovery

U.S. recovery still on ropes in late summer: Fed

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(Reuters) – The sluggish U.S. recovery failed to gain speed in recent weeks and softened in some areas of the country, as volatile stock markets and sputtering factory activity weighed on growth, the Federal Reserve said on Wednesday. “Economic activity continued to expand at a modest pace, though some Districts noted mixed or weakening activity,” the Fed said in its Beige Book collection of anecdotal reports of economic conditions in the Fed’s 12 districts. A sharp decline in stock markets since mid-July and increased economic uncertainty have made businesses gloomier about the outlook in several regions, the Fed said. Growth was modest … Read more

Politics to Stall USA Recovery

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The Word from Republicans on The Hill is, “we will oppose Obama’s plans” US President Obama is widely expected to announce a new jobs plan on or just after Labor Day when he returns from his vacation. The plan will likely include the extension of payroll tax cuts, new revenue for transportation projects and an extension of emergency unemployment benefits for the 9.1% of Americans still unemployed. Mr. Obama’s campaign advisor, David Axelrod, said Sunday that there is nothing in the proposal “that reasonable people shouldn’t be able to agree on”, but many Republicans are already preparing to reject and … Read more