News
Bloomberg | Consumer Comfort in U.S. Drops to Nearly a Four-Month Low
Consumer confidence dropped last week to the lowest level since the end of January as slower U.S. job growth contributed to pessimism about personal finances and spending.
WSJ | Fed Minutes Reflect Wariness About Recovery's Strength
Federal Reserve officials were worried about risks to the recovery in April when they decided to continue their easy-money policies to bolster the economy.
Washington Times | Tougher standards sought for ‘Made in America’ label
U.S. consumers may be surprised to learn many products bearing the label “Made in America” are largely built outside of the United States. The practice exploits a little-known loophole in the product-label system that one California businessman says he is determined to expose.
WSJ | Singapore Exports, GDP Surpass Estimates
Singapore's key non-oil domestic exports reverted to an expansion in April and the island nation's economy grew faster than previously estimated in the first quarter, but the government fears that a faltering global economy could derail this growth momentum.
CNN Money | Japan's economic growth nearly doubles U.S.
Japan's gross domestic product grew at nearly double the U.S. rate for the first quarter, an unexpectedly strong sign of recovery in the wake of last year's devastating earthquake and tsunami.
Market Watch | Industrial output rebounds strongly in April
Industrial production surged in April, data that may dispel concerns about the health of the factory sector.
WSJ | Foreclosures Show No Sign of Decline
The percentage of American homeowners behind on their mortgage payments fell during the first quarter to the lowest level since the end of 2008. But the share of loans in foreclosure remains stubbornly high, according to a survey Wednesday.
CNN Money | Foreclosures fall to lowest level since 2007
Foreclosure filings in April fell for the third straight month to the lowest level since July 2007.
Econ Comments & Analysis
WSJ | Banks Need More Capital, Not More Rules
The J.P. Morgan mistakes that resulted in a loss of $2 billion or more have awakened some senators to the fact that the Dodd-Frank financial-regulation legislation of 2010 did not prevent errors of judgment and investment losses. But the politicians have drawn the wrong conclusion.
Real Clear Markets | States and Cities Going Private With Infrastructure Investment
States and municipalities across the U.S. continue to grapple with the lingering effects of the Great Recession. City leaders continue to struggle with depressed revenues, and 30 states are expected to close budget deficits totaling $49 billion this year, according to the Center on Budget and Policy Priorities.
Washington Times | America needs a competitive energy standard
Few issues capture and hold the attention of Congress and the administration as energy does, and yet an agreement on energy policy appears as distant today as it has been at any time in recent years. That’s because the policies enjoying the latest political currency abandon the attributes most cherished by voters - energy security and affordability.
Blogs
The American | The 3 economic charts that could crash Obama’s reelection hopes
Well, at least we’re doing better than Europe, right? Maybe not. German first-quarter GDP came in at 2.1%, and many economists now think U.S first-quarter GDP will be revised downward below 2%.
