Federal Reserve economists warned in December 2008 that five years could pass before growth revived enough to warrant raising interest rates from near zero, as the magnitude of the economic meltdown dawned on Fed officials.
U.S. stocks rose a second week, sending the Standard & Poor’s 500 Index to a record, as better- than-forecast data on hiring and manufacturing fueled optimism in the economy and overshadowed concern on Ukraine.
Jeanina Jenkins, a 20-year-old high- school graduate from St. Louis, is stuck in a $7.82-an-hour part-time job at McDonald’s Corp. that she calls a “last resort” because nobody would offer her anything better.
The dollar rose to a six-week high against the yen as U.S. employment gains exceeded forecasts, boosting speculation that the Federal Reserve will continue to pare monetary stimulus that’s seen as debasing the currency.
Employers in the U.S. probably hired more workers in February than a month earlier, showing companies were confident demand will bounce back from a weather-induced slowdown, economists project a report will show today.