Patrice Hill

Obama supports Senate bill to kill Fannie, Freddie

President Obama on Tuesday sought to prod along a rare bipartisan effort in Congress by throwing his weight behind a Senate bill that would eliminate mortgage giants Fannie Mae and Freddie Mac but maintain a government guarantee on high-quality 30-year mortgages so that the popular instruments do not disappear from the marketplace.

August 6, 2013

Unemployment falls to 7.4 percent in July; job growth slows

The nation's unemployment rate last month dropped from 7.6 percent to 7.4 percent, the lowest level in 4½ years, as businesses added another 162,000 jobs, the Labor Department reported Friday morning.

August 2, 2013

U.S. growth accelerates despite spending cuts

The U.S. economy has grown significantly faster than previously thought during President Obama's years in office, clocking in at a healthy 2.4 percent pace on average between 2009 and 2012, under sweeping revisions of the gross domestic product report published Wednesday by the Commerce Department.

July 31, 2013

Getting business rolling: Entrepreneurs hold retreats to forge unlikely bonds

As entrepreneurs who had parlayed a local cleaning business in Wyoming and Utah into a multimillion-dollar enterprise with holdings in hotels, ranches, auto dealerships, sports teams and more, Justin and Cody Hyde knew that meeting the right people and developing good relationships — even with adversarial regulators — was part of the solution for businessmen like themselves.

July 29, 2013

Economy hums along, proves taxing and spending prognosticators wrong

The U.S. economy has fared better than expected this year after widespread fears that $85 billion of automatic spending cuts and sharp increases in taxes imposed at the beginning of the year would snuff out growth.

July 28, 2013

Moody’s withdraws U.S. downgrade threat

Ratings agency Moody's Investors Service on Thursday withdrew its threat to downgrade the U.S. government, citing a much-improved outlook for the budget deficit and moderate economic growth that is helping to keep the federal deficit on a downward path.

July 18, 2013

Bernanke: Fed could keep cash infusion going

The Federal Reserve might put off its plans to stop infusing cash into world financial markets in the middle of next year if Congress enacts further deep budget cuts that prevent a pick-up in economic growth, Fed Chairman Ben S. Bernanke told a congressional hearing Wednesday.

July 17, 2013

Struggling world markets shudder as Fed sees U.S. recovery, moves to end cash infusions

While the U.S. economy is healthy enough for the Federal Reserve to consider ending the extraordinary cash infusions it has pumped into world markets since 2008, such a change of course would pose big challenges for Europe's debt-strapped economies and for many of the world's developing countries.

July 14, 2013

Canadian rail accident bolsters safety argument for Keystone oil pipeline

The deadly derailment and explosion of rail cars carrying crude oil through Quebec last weekend highlighted the dangers of the growing trend of shipping more fuel by rail in the U.S. and Canada, and analysts say it may add to pressure on President Obama to approve the Keystone XL pipeline.

July 9, 2013

Economy adds 195,000 jobs; unemployment rate stays at 7.6 percent

U.S. businesses created nearly 200,000 new jobs for the third month in a row in June, helping to hold the unemployment rate steady at 7.6 percent, the Labor Department reported Friday morning.

July 5, 2013

Independence Day fireworks: Mortgage market rocked by soaring rates

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.

July 3, 2013

Surge in U.S. oil production holding down prices

A surge in U.S. production of premium crude oil from shale deposits in the Midwest is helping to hold down world oil prices and has prevented a spike in U.S. gasoline prices this summer.

July 2, 2013

‘Obamacare’ benefits mandate could further phase out full-time work

President Obama's health care reform is prompting employers to hire more part-time and temporary workers to escape paying benefits under a mandate that goes into effect next year, amplifying a trend toward transient employment that took hold during the recession, according to a growing number of economic indicators.

June 16, 2013

U.S. gains global competition as shale energy revolution heats up

The United States has been the dominant player in the shale revolution until now, but new estimates of the world's potential shale resources show that Russia, China and developing countries such as Argentina and Algeria could be the biggest winners in the future.

June 11, 2013

S&P backs off downgrade threat for U.S. government

Standard & Poor's Corp. on Monday withdrew its threat to downgrade the U.S. government for a second time, citing an improving economy and declining budget deficits. But it said the U.S. still falls short of getting a AAA rating because the two bickering political parties refuse to bridge their differences and address long-term debt problems.

June 10, 2013

Unemployment rises to 7.6 percent amid government layoffs

The nation's unemployment rate ticked up to 7.6 percent from 7.5 percent last month as the federal government laid off another 14,000 workers and nearly a half million people surged into the market looking for work, the Labor Department reported Friday morning.

June 7, 2013

On the right, a rising passion for shareholder activism

Some on the right are now embracing shareholder activism, using tactics pioneered on the left that have turned America's corporate boardrooms and annual meetings into battlegrounds over causes ranging from climate change and gay rights to universal health care and campaign spending reform.

June 6, 2013