- New prosthetic hand technology lets amputees feel again
- Child killed, 4 injured in Idaho elementary school bus crash
- Obama downplays IRS scandal, blames Obamacare rollout on ‘outdated’ agencies
- Pregnancies decline overall, up among older women
- Pentagon plans to destroy Syrian chemical arms on ship at sea
- Paris Metro issues ‘politeness manual’ to improve passengers’ behavior
- Justin Bieber, crew detained at Australian airport in drug search
- Lee Rigby trial: Muslim who machete-hacked soldier calls it ‘humane’ kill
- GM ending Chevy sales in Europe to focus on Opel and Vauxhall
- Putin’s diplomats to U.S. busted for living high life off $1.5M bilked from Medicaid
Why such hatred toward America's freedom of religion?
Independent voices from the The Washington Times Communities
Topic - Ted Wieseman
The nation's economy overcame a round of federal budget cuts and posted a surprisingly strong 3.6 percent growth rate in the summer quarter, the Commerce Department reported Thursday morning.
The biggest jump in interest rates since 1987 is pummeling the mortgage market and raising worries about the health of the robust housing rebound that has been fueling economic growth this year.
Ted Wieseman, economist with Morgan Stanley, said he was surprised by the pickup in economic growth, but he attributed most of it to a surge in inventory-building by businesses.
Since those stockpiles of cars, toys and other goods will have to be sold off to consumers, he said it will lead to slower growth than previously expected in the final quarter of the year, perhaps as low as 1 percent.