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The world’s largest economy will expand at an average 2.75 percent annual rate in the first six months of the year, down from a prior estimate of 2.9 percent and a 5.9 percent surge in the fourth quarter, according to the median estimate of 52 economists. The survey, taken from March 1 to March 10, also showed the outlook for consumer spending improved.
The slowdown “is more like a bump on the road to recovery,” said Ethan Harris, head of North America economics at Bank of America-Merrill Lynch Global Research in New York. “We are beginning to exit the bunkers.”
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News
The world’s largest economy will expand at an average 2.75 percent annual rate in the first six months of the year, down from a prior estimate of 2.9 percent and a 5.9 percent surge in the fourth quarter, according to the median estimate of 52 economists. The survey, taken from March 1 to March 10, [...]
Opinions
Payday lenders didn’t cause the economic crisis, but consumer advocates hoped their sky-high interest rates on loans would be reined in as part of a sweeping regulatory overhaul to prevent a repeat of the financial fiasco.
However, key senators feverishly working to craft a bipartisan bill want to make payday lenders — companies that offer short-term [...]
Opinions
For 18 years, Gary G. Gensler worked on Wall Street, striking merger deals at the venerable Goldman Sachs. Then in the late 1990s, he moved to the Treasury Department, joining a Washington establishment that celebrated the power of markets and fought off regulation at almost every turn, Graham Bowley reports in The New York Times.
Today, [...]
Opinions
Nouriel Roubini, one of the few economists who accurately predicted the magnitude of the world’s recent financial crisis, believes the chance of a double-dip recession in the U.S. economy is increasing because of risks related to poor economic data in the country coupled with Europe’s ongoing debt crisis.
In a research paper, cited by CNBC, Roubini [...]
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