Oct 30 Watch Consumers Trim Spending in New Sign of Economic Downturn New data show that consumer spending fell 3.1 percent in the third quarter, its sharpest drop in 28 years. New York Times columnist David Leonhardt examines the latest numbers. Continue watching
Oct 30 U.S. Economy Shrinks as Consumers Slow Spending By Admin, PBS News Hour The Commerce Department reported Thursday the economy shrank at an annual rate of 0.3 percent in the July to September period, indicating that a recession may have already begun. Continue reading
Oct 29 Watch Fed Makes Aggressive Rate Cut in Bid to Loosen Credit Markets In a new move to stem the impact of the financial crisis, the Federal Reserve cut the federal funds rate by half a percentage point to 1 percent Wednesday. Krishna Guha, chief U.S. economics correspondent for the Financial Times, discusses… Continue watching
Oct 29 For Ninth Time in a Year, Fed Chops Key Rate Again to 1 Percent By Admin, PBS News Hour As expected, the Federal Reserve slashed a key interest rate Wednesday afternoon by half a percentage point as it seeks to revive an economy hit by a long list of maladies stemming from the most severe financial crisis in decades. Continue reading
Oct 29 Is it correct to assume that the credit crisis is mostly psychological? Question/Comment: Is it correct to assume that the credit crisis is mostly psychological? Banks hold bad paper which needs to be exposed and somehow that debt needs to be paid or securitized again, so that banks regain confidence in other… Continue reading
Oct 28 If the inflation rate is calculated too low, will the economy seem to be growing when it is not? Question/Comment: I am wondering if the government is calculating the inflation rate correctly. If the inflation rate is calculated too low, will the economy seem to be growing when it is not? Is there any measure of how accurate the… Continue reading
Oct 28 Watch White House Considers Extending Bailout to Auto Industry Deepening financial crisis among the nation's biggest auto makers prompted talks to allow corporations to apply for aid under the $700 billion bailout plan. Reporters and analysts weigh the controversy around the access to money for Detroit's Chrysler, G.M. and… Continue watching
Oct 28 Watch Global Markets Soar on Likely Fed Interest Rate Cut After a steady slump in world trading, global markets surged Tuesday after expectations of a likely Federal Reserve interest rate cut and the Treasury's move to inject capital boosted investors' confidence. A Business Week editor probes the reasons behind the… Continue watching
Oct 28 Do you have any assessment of the probability that Nassim Taleb’s hypothesis will be realized? Question/Comment: When I watched your segment on the NewsHour the other evening I was riveted by Nassim Taleb’s prediction and his wish that he was wrong. I understand that supposedly Kevin Phillips, the economist, and George Soros, the entrepreneur… Continue reading
Oct 28 Dow Jumps Nearly 900 Points Despite Report of Low Consumer Confidence By PBS News Hour Investors looking for a bargain in devalued stocks helped the Dow Jones industrials soar nearly 900 points, the second-biggest one-day point gain ever, on Tuesday. Continue reading