Home prices could fall by as much as 10 percent this year, and the labor market is showing signs of wavering, even with Federal Reserve efforts to stabilize the economy, said Chris Low , chief economist at FTN Financial in New York.
Nancy Beigel has known since September that she would need hernia surgery. She couldn’t afford it on her $11,000 yearly income until she became eligible for Medicaid in January through President Barack Obama’s signature health care law.
David Rosenberg, chief economist and strategist with Gluskin Sheff & Associates Inc., usually spends the first Friday of the month poring over U.S. labor-market data. Today, he’s planning a different kind of crunching.
In selling an expanded payroll tax cut to lawmakers, the Obama administration faces the predicament it confronts in defending its $825 billion stimulus package: making a case that the economy would be worse without it.