Economic Stimulus Act

The FBI said Friday there is no evidence of sabotage in last week’s explosion at a Puerto Rico fuel depot, which burned for more than two days and forced the evacuation of hundreds of people.

About 650,000 jobs have been saved or created under President Barack Obama’s economic stimulus plan, the White House said Friday, saying the president’s goal of 3.5 million jobs by the end of next year is on track.

The economy is growing again. So when are the jobs that go with growth going to get here?

No matter what the Fed does with monetary policy next week or in the future, the administration’s fiscal aims are of considerable import.

Personal income was essentially unchanged in September, while spending by individuals fell, government figures showed Friday.

Consumer spending plunged in September by the largest amount in nine months, reflecting the end of the government’s Cash for Clunkers auto sales program. Incomes, the fuel for future spending, were flat.

Employment costs rose by the smallest amount on record in the 12 months ending in September, as high unemployment restrained wage and benefit growth.

U.S. third quarter growth data was very encouraging and showed the economy has stabilized but still faces difficulties, Treasury Secretary Timothy Geithner said on Thursday.

The Senate on Thursday cleared a stopgap spending measure to avoid shutting down most federal agencies at midnight Saturday.

Banks trimmed their borrowing from the Federal Reserve’s emergency lending program over the past week, evidence that some credit problems are easing as the economy recovers.