Many Americans, most banks and some businesses are trying to lighten their debt loads. This prudent reaction to a borrowing binge that proved unwise hurts the economy.
The pace of U.S. job losses continued to slow in September as the private sector shed fewer jobs than in the previous month.
Banks and loan investors are starting to bite the bullet and lower the principal on mortgages for some struggling borrowers, new data show.
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China's Purchasing Managers Index, a gauge of nationwide manufacturing activity, rose to 54.3 in September from 54.0 in August.
The global economy is staging so modest a recovery that additional fiscal stimulus may be needed to prevent another slump, the IMF said.
A Fed report on home mortgage data showed that blacks and Hispanic whites were far more likely than non-Hispanic whites to be denied last year in applying to refinance.
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Sentiment among big manufacturers in Japan improved for the second straight quarter, the Bank of Japan's tankan survey showed, but bearish plans for capital spending point to lingering worries.
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The Bank of England is taking credit for a sharp increase in bond issues from U.K. companies this year, saying that purchase of state debt diverted investor cash to that market.
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Narayana Kocherlakota, former chairman of the University of Minnesota economics department, will become president of the Federal Reserve Bank of Minneapolis.
Robert Shiller, the Yale economist who famously predicted the housing bust, says he sees home prices moving little in the next five years.
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Home prices rose in July, but apprehension among consumers and chief executives underscored the fragility of the nation's economic recovery.
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Rising global securities prices reduced the IMF's estimate of bank losses, but banks world-wide likely face additional write-downs of $1.5 trillion by the end of next year.
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The million-dollar question now is where -- and how soon -- this group of workers will be able to find work, in an economy that increasingly values brains over brawn.
Mickey Levy, an economist at Bank of America, makes a fair distinction between the Federal Reserve, on the one hand, and the Obama administration and Congress, on the other, when it comes to exit strategies.
Men who lack post-high school education found work in construction. Now that group has few job prospects in a market favoring brains over brawn.
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The factory sector might be misleading investors about the strength of the broader economy.
Our new research shows no evidence of a Keynesian 'multiplier' effect. There is evidence that tax cuts boost growth.
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