Patrice Hill

Oil export ban repeal would lower gas prices, studies show

The U.S. government has banned oil exports since the energy crisis of the 1970s, but that could change next year as Republicans take control of Congress and are backed by new studies showing that repeal of the ban would actually lower gasoline prices and be a surprising boon to consumers.

November 16, 2014

Solid start to Christmas shopping season

The Christmas shopping season started on an upbeat note, with retail sales growing by a solid 0.3 percent last month, the Census Bureau reported Friday.

November 14, 2014

Unemployment down to 5.8 percent with 214,000 new jobs created

The nation's unemployment rate continued its downward drift last month, landing at a six-year low of 5.8 percent, as businesses created another 214,000 jobs, the Labor Department reported on Friday.

November 7, 2014

Happier consumers remain disgruntled voters

U.S. consumers are feeling more confident than they have since the Great Recession, but that does not provide much advantage to President Obama or the incumbent legislators on the ballot Tuesday, according to recent economic surveys. The severe job and financial difficulties many Americans experienced during and after the recession convinced most that the economy has permanently changed for the worse, and they blame current political leaders in Washington for failing to do much about it.

November 3, 2014

U.S. economy surges ahead 3.5 percent in third quarter

U.S. economic growth barreled ahead at a brisk 3.5 percent rate this summer, exhibiting the best momentum in more than a decade and suggesting it has finally broken out of the doldrums after five years of sluggish recovery.

October 30, 2014

Fed ends extraordinary stimulus as economy mends

The Federal Reserve on Wednesday put to rest the extraordinary measures it has deployed in the more than five years since it first used them to spur economic growth and recovery from the Great Recession.

October 29, 2014

Developing world drives strong demand for coal

Coal is more popular than ever as the cheapest fuel for generating electricity in the developing world, despite efforts by the Obama administration and environmentalists to limit its use.

October 27, 2014

New Cold War clashes lead to plunging global gasoline prices

Consumers are enjoying a break from high gas prices, which have fallen below $3 a gallon in many areas, but the drop has precipitated a cold war among oil producers that has all the intrigue, suspense and looming destruction of a Tom Clancy novel.

October 22, 2014

U.S. economy again drives global growth as top rivals falter

After a long, slow convalescence from the Great Recession, the U.S. economy has emerged this year as a major force for global growth for the first time in a decade, even as some of its top rivals struggle.

October 19, 2014

Wild ride on Wall Street leads to another big loss

Global stocks nose-dived Wednesday on fears that the world economy is losing steam, with some analysts blamed the worst string of losses on Wall Street in years in part on spreading panic about the economic impact of the Ebola crisis.

October 15, 2014

China presses Congress for action on stalled IMF reforms

Congress should move quickly to approve reforms giving China and other emerging economies a greater say in the International Monetary Fund to show that the U.S. is intent on preserving its leading role in governing the world's economy, Chinese Vice Finance Minister H. E. Guangyao Zhu said Wednesday.

October 8, 2014

Economic globalization boosts Asia, bogs down U.S. middle class

Much has been made recently about stagnating wages for the middle class and the growing gap between the rich and the rest in America. But that's only one small part of the story.

October 6, 2014

U.S. jobless rate falls to 6-year low of 5.9 percent

The nation's unemployment rate dropped to 5.9 percent last month, the lowest since mid-2008, as job growth continued its best string of monthly gains since the 1990s, the Labor Department reported Friday.

October 3, 2014

Fed: End of unemployment benefits boosted job market this year

Employers were more willing to create jobs and workers were more willing to take them after the expiration in January of a program entitling unemployed workers to collect nearly two years of benefits.

October 1, 2014

U.S. sanctions against Russia stymie Western oil companies’ Arctic aspirations

The latest U.S. sanctions against Russia over Ukraine are starting to crimp not only the Russian economy but also major Western oil companies such as Exxon Mobil Corp., companies that have invested heavily in helping Russia tap into huge stores of oil buried offshore in remote Arctic waters and under the vast wilderness in eastern Siberia.

September 30, 2014

Economic growth surged by 4.6 percent in spring quarter

The U.S. economy grew at a robust 4.6 percent annual rate in the second quarter in the best performance since 2011, the Commerce Department reported Friday.

September 26, 2014

Fed cuts back bond-buying again as economy strengthens

The Federal Reserve moved another step toward more normal policies on interest rates Wednesday, noting a gradual improvement in the outlook for the economy and cutting back again on its bond-buying program to stimulate the economy.

September 17, 2014

U.S. incomes flat for second year in a row — Census

The median income of families in the United States edged up slightly to $51,939 last year from $51,759 in 2012, showing no significant growth for the second year in a row, the Census Bureau reported Tuesday.

September 16, 2014

Russia sanctions risk return to recession for Europe’s shaky economy

The tit-for-tat sanctions between Russia and the West that heated up last week are only adding to fears that Europe's economy will fall back into recession or experience "lost decades" comparable to the downturn in Japan that left the Asian giant's economy drifting, deflated and diminished in global influence.

September 15, 2014

Wealthiest Americans power consumer revival as well

The richest one-fifth of Americans not only have enjoyed most of the income gains since the recession, they accounted for nearly half of the increase in consumer spending, the Labor Department reported Tuesday.

September 9, 2014