Jun 29 Guest Host: Robert Frank as the Economic Naturalist Paul Solman: As many NewsHour viewers and Business Desk readers know, Cornell’s Bob Frank is a great favorite of ours. I’ll spare you the usual economiums (encomia?) and links: if you’re intent on “drilling down,” just Google our names… Continue reading
Jun 29 Watch Wind Energy Fuels Job Hopes for Oklahoma Youth In the final installment of her Generation Next series, which has aired on both the NewsHour and NPR, Judy Woodruff reports on how wind energy is generating new career prospects for young Americans in the Sooner State. Continue watching
Jun 27 Barcalounger Closure Marks Continued Manufacturing Decline in Edgecombe County By Rob Holliday, UNC-TV This is a tough week for the people of Edgecombe County, about 80 minutes east of Raleigh. Friday, June 26th, is the last day of operations for the Barcalounger factory in Rocky Mount. Continue reading
Jun 26 Amid Recession, U.S. Savings Rate Hits Highest Mark Since 1993 By PBS News Hour As the longest recession since World War II drags on, Americans are responding by shying away from spending, opting instead to save money at the fastest pace in 15 years, a new report shows. Continue reading
Jun 26 Did U.S. Tax Policy Contribute to the Housing Bubble? Question: How much does (did) federal tax policy contribute to the housing bubble? If it was a contributing factor, how should that policy be reformed? Paul Solman: Not much, I wouldn’t think. Tax deductibility of mortgage interest has been… Continue reading
Jun 25 Watch Bernanke Faces New Questions Over Role of the Fed Federal Reserve Chairman Ben Bernanke faced fresh questions from a House committee Thursday over the central bank's role facilitating Bank of America's purchase of Merrill Lynch. Experts discuss the acquisition, as well as the expanding power of the Federal Reserve,… Continue watching
Jun 25 Watch Other News: Wall Street Rises Off Housing, Retail In other news, markets rose on Wall Street after positive news from the homebuilding and retail sectors, and billionaire banker Allen Stanford pleaded not guilty to to bilking investors out of their investments. Continue watching
Jun 25 How Regulatory Reforms Will Affect Consumers (Cont.) By Business Desk Paul Solman: Last week, we featured a number of economists (and a journalist) responding to the new financial regulations proposed by the Obama administration. But no economic historians were among them. We’ve remedied that omission by asking Eugene… Continue reading
Jun 25 Fed Chief Denies Wrongdoing in BofA Deal By PBS News Hour Federal Reserve Chairman Ben Bernanke testified before a House committee Thursday, facing questions on the Fed's role in pushing Bank of America to acquire the struggling Merrill Lynch during the height of the Wall Street meltdown. Continue reading
Jun 25 Will the Actions of the Fed and Treasury Keep Asset Prices Artificially High? Question: It seems to me like the Fed and the Treasury are trying very hard to keep asset prices high. The Fed has vastly increased the money supply, partly by lowering interest rates to zero, and partially through quantitative easing. Continue reading