News
CNN Money | ECB must do more to boost growth: OECD
The European Central Bank should follow its recent interest rate cut with more radical action to tackle recession and record unemployment, the OECD said Wednesday as it slashed its forecast for the eurozone economy.
Politico | Natural gas price might have found sweet spot
It’s not hard to imagine the reactions inside the Beltway if the price of gasoline more than doubled in a single year: the congressional investigations, demands for action from the White House and loud protests from consumers.
FOX News | After decade of decline, Great Lakes region pins hopes for economic comeback on water riches
Business and government leaders in the Great Lakes region are pinning hopes for a return to prosperity on a precious resource: fresh water.
FOX Business | Foreclosures Hold Steady in April
The number of foreclosed U.S. homes held steady in April, while there were fewer properties sitting in the pipeline, fresh signs the housing recovery is on track, data from CoreLogic showed on Wednesday.
Bloomberg | OECD Forecasts Global Economy to Recover Next Year: Economy
The Organization for Economic Cooperation and Development forecasts global economic growth will accelerate in 2014 with both the U.S. and Japan continuing to outpace the euro area.
Washington Post | Small business lending freeze starting to thaw
The credit health of small companies across the country improved during the first quarter of 2013, according to a new report by Experian and Moody’s Analytics, surprising analysts, most of whom were expecting either no change or a slight decline over the first few months of the year.
Econ Comments & Analysis
WSJ | IMF Forecasts Lower China Growth, Warns on Debt
The International Monetary Fund joined a host of private economists who have lowered expectations for growth in the Chinese economy, an outlook that has raised questions over whether Beijing will seek to counter a moderating pace.
Politico | Feds tap tech startups to cut contract costs
An experimental, easy-to-use system for receiving low-dollar federal contract bids saved as much as 44 percent on tech-related projects and prompted 270 new companies to sign up as potential bidders, according to a Small Business Administration analysis.
Politico | When community banks prosper, gains are widespread
The U.S. economy is the largest and most diverse economy on Earth, made up of businesses of all types, shapes and sizes. To support the financial needs of large multinational corporations as well as small businesses and family farms, the United States needs financial institutions of all kinds to meet a wide variety of financial needs.
Forbes | Once The Obama Narrative Implodes, Reality Breaks Through
While Barack Obama’s presidency may yet recover—especially if the White House can win back the mainstream media’s active support—the ability to frame, spin, distract, blame, deny, distort, demonize, and prevaricate on any issue unchallenged has been compromised.
Blogs
WSJ | Study: How Using Homes as ATMs Fueled Foreclosures
The conventional wisdom of the housing crisis goes something like this: Too many people bought homes as the housing bubble inflated. Some were unlucky in their timing, while others overextended themselves by putting too little money down. All of these top-of-the-market purchases led to an explosion of foreclosures once home prices dropped sharply and the economy hit the skids.
Market Watch | Household wealth seen rising at least $1.8 trillion as house prices climb
The net wealth of American households is set to rise at least $1.8 trillion this year if home prices sustain recent trends, according to analysis released Tuesday.
WSJ | Secondary Sources: Saving, Tax Deductions, Minimum Wages
A roundup of economic news from around the Web.
Heritage Foundation | Pacific Alliance: Decreasing Trade Barriers and Increasing Economic Growth
The presidents of the “Pacific Alliance” (Chile, Colombia, México, and Perú) met last week in Cali, Colombia, to sign an agreement removing tariffs on 90 percent of their merchandise trade.
