News
FOX News | Bank of American begins pilot program offering those facing foreclosure a chance rent
Bank of America says it has begun a pilot program offering some of its mortgage customers who are facing foreclosure a chance to stay in their homes by becoming renters instead of owners.
CNN Money | The oil industry's plan to lower gas prices
The oil industry recently laid out a set of proposals it believes will instantly lower gasoline prices.
USA Today | Mortgage rates top 4% for the first time in three months
The average rate on a 30-year fixed mortgage has topped 4% for the first time since late October but the increase isn't expected to derail budding signs of strengthening in the U.S. housing market.
Politico | Keystone XL pipeline: President Obama vows to cut through red tape
During a stop Thursday in Oklahoma, Obama announced the administration would “cut through the red tape” for the southern leg of the Keystone XL pipeline — disappointing environmentalists who had counted it a victory when the president denied a permit for the project’s full, Canada-to-Texas version.
WSJ | Companies Hoard Cash, Damping Growth
Banks are struggling to rebuild capital and repair the damage wrought by poor lending and investment decisions they made before the financial crisis, and are wary about new lending.
Bloomberg | Bernanke Sees Need for Higher Household Spending to Fuel Growth
Federal Reserve Chairman Ben S. Bernanke said the U.S. economy is operating below its level prior to the financial crisis, and that increased household spending is needed to sustain the expansion.
Econ Comments & Analysis
Bloomberg | Deep Recessions in U.S. May Be the Norm, Say NBER Economists
Deeper recessions and more gradual recoveries will be the norm rather than the exception as the U.S. workforce grows at a slower pace, according to economists on the panel that determines when slumps begin and end.
CATO | Austerity Or Stimulus? What We Need Is Growth
Greece is collapsing, Italy and Spain’s output is declining, and even Germany and the U.K. are slowing down. In addition to their direct economic costs, these “austerity” measures aren’t even swiftly closing budget gaps.
Blogs
Economist | The challenge of getting Americans to save more
The issue is not Social Security per se; its finances can be put on track (not quite as painlessly as Mr Crook suggests, but it's manageable) and the sooner that happens the better. The problem is confusion about who’ll get what.
Neighborhood Effects | Economic Freedom and Well-Being Across U.S. States
There is ample evidence that well-being, measured in various ways, is positively related to economic freedom across countries. Does this relationship hold at the sub-national level?
