Much of the stimulus spending has given a priority to gross domestic product, but government spending alone does little good if it isn’t creating jobs.
Monthly archives for July, 2010
GDP Growth Slowed To 2.4% In 2nd Qtr; Shoppers Cautious (Investor s Business Daily)
Economic growth cooled in the spring as consumers lagged, the Commerce Department said Friday, reinforcing views that unem ployment could stay high for years. GDP rose at an annualized 2.4% in Q2, just under views.
Obama says proving naysayers wrong on auto bailout (at Reuters)
* Seeks to boost confidence in handling of economy * Speaks at General Motors and Chrysler plants By Caren Bohan DETROIT, July 30 – U.S. President Barack Obama on Friday defended his decision to bail out General Motors and Chrysler, saying he had proven the naysayers wrong as he touted his economic policies ahead of the November congressional elections.
Within the Fed, Worries of Deflation (at New York Times)
A subtle but significant shift appears to be occurring within the Federal Reserve over the course of monetary policy as the economic recovery is weakening.
U.S. GDP, Cheesecake Factory: Hot Trends (at TheStreet.com)
U.S. GDP, National Cheesecake Day, The Cheesecake Factory and The Walt Disney Company are the trending topics on Google and Yahoo.
Excerpts: Cnbc Transcript: Cnbc s Squawk Box Sits Down Exclusively With Federal Reserve Bank of St. Louis President James Bullard Today (at CNBC)
WHEN: Today, Friday, July 30th at 7-9AM ET WHERE: CNBC s Squawk Box Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with Federal Reserve Bank of St.
Obama to sell auto bailout good news in Michigan (AP)
President Barack Obama is going to the heart of the U.S. auto industry to push an important election-year claim: his administration s unpopular auto industry bailout has turned into an economic good-news story.
Investors drop risk after US GDP data (at Financial Times)
Friday 14:45 BST. Markets are quickening the sale of risk after US GDP growth in the second quarter came in lower than expected.
Stock futures fall ahead of GDP report (AP)
Stock futures are falling as investors cautiously await the government s first reading on gross domestic product. GDP, the measure of the economy s total quarterly output, is likely to confirm that the recovery slowed in the second quarter.
Investors drop risk ahead of US GDP data (at Financial Times)
Friday 11.00 BST. With the second-quarter US gross domestic product report looming later in the day, markets are selling risk on fears that the world s largest economy will prove to be growing below economists projections.