As the economy begins to slowly piece itself back together after the Great Recession, many are still wondering how it all happened. What went wrong? How could this have been prevented? Nobel Prize-winning economist Joseph Stiglitz tackles those questions and more in his analytic book “Freefall: America, Free Markets, and the Sinking of the World Economy.”
More Americans signed contracts to buy houses in March, according to the National Association of Realtors. Definitely a good sign for the housing market, but is it good enough?
via The Federal Reserve Board
BY KELLEN HENRY – MEDILL NEWS SERVICE
The economic story in the Midwest is the same the one we’re hearing across most of the country — The economy is weak, but it’s no longer in free-fall.
According to The Beige Book, the report on current economic conditions released [...]
The Fed predicts unemployment will stay above 8 percent through 2011
BY JORDAN MELNICK — MEDILL NEWS SERVICE
Here’s a variation on an old favorite: If an economy climbs out of recession and nobody gets a job, does it make a difference? This spin of Berkeley’s enigmatic query arises from the Fed’s [...]
Fed Chairman Ben Bernanke/Flickr
BY KATE SHELLNUTT – MEDILL NEWS SERVICE
Unsurprisingly, first question to Fed Chairman Ben Bernanke following his keynote address at the Bank Structure and Competition Conference was about this week’s catchphrase, “stress tests.”
After declining to reveal the results of the Fed’s evaluation of the country’s biggest financial institutions [...]
Federal Reserve Board Chairman Ben Bernanke/Flickr
BY DEB WEINSTEIN — MEDILL NEWS SERVICE
Speaking via satellite to an audience of over 200 at the Federal Reserve Bank of Chicago’s annual Bank Structure and Competition conference, Fed Chairman Ben Bernanke outlined what he called “lessons of the crisis.”
The major lesson: Oversight [...]
(Data: Bureau of Labor Statistics)
BY DEB WEINSTEIN — MEDILL REPORTS
The number of unemployed swelled to 8.5 percent in March, up from 8.1 percent in February, according to the latest report by the Bureau of Labor Statistics. The
BY BENJAMIN MIRASKI, MEDILL NEWS SERVICE
The Federal Reserve has released the minutes of the Federal Open Market Committee meeting that took place on August 5. The thing about the FOMC minutes is that they normally don’t tell us anything we didn’t already know.
At its policy-setting meetings, the [...]
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