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Taxpayers must pay the freight for over-budget train projects
Topic - Michael Gapen
U.S. consumers are cheering up with Christmas approaching and appear set to put in a solid performance during the critical holiday shopping season.
The Federal Reserve likely will put its plans to start withdrawing stimulus from the U.S. economy off until well into 2014 as a result of a report Tuesday that showed the economy posted only tepid job growth in September, even before the federal shutdown and debt crisis weighed on the economy.
The biggest downsizing of state and local government in modern history has proved to be a big drag on the U.S. economy since 2009 and a primary reason the four-year-long recovery is more sluggish than other recoveries since World War II, economists say.
U.S. home prices accelerated in November compared with a year ago, pushed higher by rising sales and a tighter supply of available homes.
The number of people seeking unemployment benefits rose last week after three weeks of decline.
Michael Gapen, analyst at Barclays, said the Fed is not worried about an occasional 200-point or 300-point drop in the Dow.