John Silvia News
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The Federal Reserve said it will keep buying bonds at a monthly pace of $85 billion while standing ready to raise or lower purchases as economic conditions evolve.
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Construction hiring jumped in February by the most in almost six years, highlighting the benefits to the U.S. economy from a revitalized housing market.
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The U.S. economy isn’t recovering fast enough to restore the level of jobs seen before the recession started in December 2007, said John Silvia , chief economist at Wells Fargo & Co. in Charlotte, North Carolina.
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The recent rebound in hiring doesn’t mean the U.S. is experiencing a robust economic expansion, and further stimulus measures wouldn’t remove obstacles to growth, said John Silvia, chief economist at Wells Fargo Securities LLC.
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The strengthening U.S. labor market will bring job creation and economic growth in 2011, said John Silvia , chief economist at Wells Fargo Securities LLC in Charlotte, North Carolina.
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The U.S. government can avoid a default for at least a month after the Aug. 2 deadline to lift the debt ceiling set by the Treasury Department, said John Silvia, chief economist at Wells Fargo Securities LLC.
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Sales of previously owned homes increased in January and an index of leading indicators climbed for a second month as the rebound in housing helped to broaden the U.S. expansion.
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The U.S. economy is growing “a little bit quicker” and should expand by 2.5 percent next year, said John Silvia , chief economist at Wells Fargo Securities LLC in Charlotte, North Carolina.
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Federal Reserve Chairman Ben S. Bernanke is giving himself an escape clause from his latest stimulus steps in case the economy finally gains momentum.
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Stuart Hoffman, chief economist at PNC Financial Services Group Inc. in Pittsburgh, Michelle Meyer, a senior U.S. economist at Bank of America Merrill Lynch in New York, and John Silvia, chief economist at Wells Fargo Securities LLC in Charlotte, North Carolina, said today’s employment report suggests a long period of labor market weakness lies ahead.
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