Two Federal Reserve presidents who differ over the need for more stimulus emphasized that monetary policy remains accommodative, less than a week after a timeline to reduce bond purchase jolted financial markets.
Weakening demand is forcing new and accelerated cost reductions at companies from Bank of America Corp. and Hewlett-Packard Co. to Staples Inc. and Eastman Kodak Co., dimming the outlook for an already struggling U.S. labor market.
The Federal Reserve could if necessary dig deeper into its toolkit to ease the sovereign-debt crisis in Europe, by cutting the U.S. discount lending rate or restarting a program that auctions loans to banks.
James Ensley of Rocky Face, Georgia, took a $10,000-a-year job last month as a school-bus driver after almost two years of unemployment benefits ran out. While that’s a third of his prior pay as a warehouse manager, the father of two says he’s content.
U.S. House lawmakers negotiating an overhaul of financial regulation rebuffed an attempt by Republicans to revive a measure that would remove the Federal Reserve’s shield against audits of its interest-rate decisions.
New Jersey is among the slow- population-growth states in the U.S., and an analysis of economic data shows that it shares a trait with other Northeastern states losing political power: high income taxes.