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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: economic recovery

economic recovery stories: 16 news summaries
Sunday Talk shows


 Geithner: 
 Recovery 
 Could Be 
 'Choppy' 

Tells NBC that financial crisis caused 'a lot of damage'

Nov 1, 09 6:56 AM CST
(AP) - Timothy Geithner says the US economy has suffered a lot of damage in the current downturn, and it's going to take time before it fully recovers. The treasury secretary said on NBC's Meet the Press that creating jobs and regaining the confidence of investors will be the real test of... More »

MORE ABOUT:
Meet the Press • financial crisis • Timothy Geithner • economic recovery

 IMF: Global Recession Is Over 

World economy is growing, but recovery will be slow

Oct 1, 09 5:37 AM CDT
(Newser) - The global recession is over, the International Monetary Fund said today, revising its economic forecasts in response to Asian growth and more than $2 trillion in stimulus packages worldwide. The IMF now says the world economy is growing and will expand by 3.1% in 2010, with China growing at... More »

MORE ABOUT:
International Monetary Fund • growth • recession • IMF • global economy • Dominique Strauss Kahn • financial crisis • economic recovery

 Obama Nominates 
 Bernanke for 2nd Term 

Prez: he 'approached a financial system on the verge of collapse with calm and wisdom'

Aug 25, 09 8:43 AM CDT
(Newser) - President Obama has nominated Ben Bernanke for a second term as Federal Reserve chairman, saying Bernanke “led the Fed through the one of the worst financial crises that this nation and this world have ever faced,” the AP reports. “Ben approached a financial system on the verge... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • recession • nomination • financial crisis • President Obama • economic recovery

OPINION

Recession Soon Over, but Here Comes Another

Roubini: Unwinding rescue could produce 'W-shaped' recovery

Aug 24, 09 7:02 AM CDT
(Newser) - The global recession is nearly over, but the recovery is far from certain, writes NYU professor and professional pessimist Nouriel Roubini in a Financial Times op-ed. The economist who predicted the financial crisis chides colleagues who foresee a V-shaped recovery, with a quick return to growth. Rather, the recovery will... More »

MORE ABOUT:
recession • global economy • stagflation • financial crisis • recession depression • Nouriel Roubini • economic recovery

(Newser) - Japan appears to be pulling out of its recession, posting its first economic growth in more than a year, reports the New York Times. The world’s second-largest economy grew by 0.9% in the last three months ending June 30—equivalent to 3.7% annualized growth. Exports grew 6.... More »

MORE ABOUT:
Japan • recession • economic recovery

(Newser) - The Federal Reserve has slowed its recovery-minded plan to purchase Treasury securities but said that "economic activity is leveling out," the Wall Street Journal reports. The Fed’s policy committee hopes to complete its $300 billion purchase of Treasury securities by October—originally slated for September—and... More »

MORE ABOUT:
Federal Reserve • recession • GDP • Treasury Department • Treasury bills • interest rates • economists • economic recovery

(Newser) - A decrease in vacant housing inventory and an uptick in sales have home builders ramping up construction for the first time in months, Time reports. Currently, the number of new homes on the market would take an estimated 8.8 months to sell—a far cry from the standard... More »

MORE ABOUT:
housing market • home sales • recession • stock • homebuilders • new construction • economic recovery


 Stimulus Worked: 
 Economists 

Good news for prez ahead of today's job-loss report

Aug 7, 09 10:14 AM CDT
(Newser) - President Obama’s stimulus package appears to have helped the economy bottom out more swiftly, an economists’ report says. Analysts hold that the stimulus boosted economic growth by about a percentage point in the second quarter—not enough to keep the economy from shrinking but enough to slow the pace... More »

MORE ABOUT:
recession • economic stimulus package • economy • Obama administration • President Obama • economists • economic recovery

MARKETS

 Dow Up 17 to End 
 Best Month Since '02 

Nasdaq falls in today's session, but enjoys big monthly gains

Jul 31, 09 3:15 PM CDT
(Newser) - Data which showed a slowing pace of decline for US gross domestic products fueled modest advances in the markets today, with the Dow finishing its best month since October 2002, the Wall Street Journal reports. Bank of America and Alcoa paced advancers, and the Dow closed up 17.15 at... More »

MORE ABOUT:
Bank of America • Dow Jones • Alcoa • Nasdaq • GDP • S&P 500 • financial crisis • economic recovery

ANALYSIS

Recession Is Kaput; Now
for the 'Smart Economy'


Jul 26, 09 4:23 PM CDT
(Newser) - The Great Recession is cooling off, but Americans will feel the heat for a while—because recovery is tricky this time, Daniel Gross writes in Newsweek. Another economic bubble inflated by consumption would be a mere Band-Aid. That's why President Obama is trying to create a four-sided "smart economy"... More »

MORE ABOUT:
health care • broadband Internet • recession • recovery • infrastructure • green technology • economy • economic recovery

OPINION

 Biden: Recovery Act Is Working 

Critics attacking 'pet programs' have 'misconstrued' the effort

Jul 26, 09 10:07 AM CDT
(Newser) - Those who dismiss the Recovery Act as “being spent on pet programs” are wrong, writes the man tasked with administering it. Writing in a New York Times op-ed, VP Joe Biden contends that the stimulus has “brought us back from the precipice.” Two-thirds of it “goes... More »

MORE ABOUT:
Joe Biden • recession • unemployment • tax cuts • economic stimulus package • op-ed • financial crisis • economic recovery • American Recovery and Reinvestment Act

(Newser) - President Obama's top economist is confident that swift action by the administration averted disaster, ABC News reports. “We were at the brink of catastrophe at the beginning of the year,” Larry Summers says, “but we have walked some substantial distance back from the abyss.” Summers credits... More »

MORE ABOUT:
economic growth • US economy • economic stimulus package • Obama administration • financial crisis • President Obama • Lawrence Summers • National Economic Council • economists • economic recovery

OPINION

Stimulus Cash Isn't Making
It to Hard-Hit Minorities

African-Americans, Hispanics pummeled by recession

Jul 15, 09 1:58 PM CDT
(Newser) - With unemployment at 14.7% among African Americans and 12.2% among Hispanics, the recession is hitting minority communities particularly hard. But as is often the case with so-called “colorblind” spending, stimulus funds, intended to be equal-opportunity, aren’t making it to these groups. The government must “start... More »

MORE ABOUT:
recession • unemployment • cities • minorities • economic stimulus package • African-Americans • Hispanics • jobless • economic recovery

(Newser) - Everyone's reading tea leaves to figure out where the economy's headed, and Time finds reason for hope in something it calls the "Bed, Bath & Beyond barometer." The retailer's profits were up in the first quarter, and same-store sales weren't as bad as expected. This is especially... More »

MORE ABOUT:
retail sales • economy • economic recovery • Bed, Bath & Beyond • women's issues

MARKETS

 Bond Sales Drive Dow Up 32 


Jun 11, 09 3:16 PM CDT
(Newser) - Markets were up today on a successful sale of 30-year Treasury notes and other indicators of economic recovery, the Wall Street Journal reports. Bank of America saw a 9% upswing after its CEO testified on Capitol Hill. The Dow gained 31.90 to 8,770.92. The S&P rose... More »

MORE ABOUT:
stock market • NASDAQ • New York Stock Exchange • Dow Jones • financial markets • recession • Treasury Department • S&P 500 • Treasury note • economic recovery

(Newser) - Economists think the US unemployment rate will stay above 9% through 2010, the Wall Street Journal survey finds. Accordingly, those in the know believe the Federal Reserve will hold interest rates down at least through spring. “For real people, there is no recovery until the unemployment rate stabilizes,”... More »

MORE ABOUT:
inflation • Ben Bernanke • Federal Reserve • recession • unemployment • Treasury Department • survey • Obama administration • Timothy Geithner • interest rates • economists • economic recovery

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