Another talking point bites the dust. Opponents of the comprehensive immigration reform working its way through the U.S. Senate have often decried the high cost of legalizing undocumented immigrants. The working theory is that people who endure low wages and a host of other hardships for the opportunity to work undercover would opt for government welfare once they are permitted to work legally.
Talks between the U.S. and China next month will assess shifting fortunes of the world’s two largest economies, as America emerges from a slump and Asia’s main engine of growth confronts fresh challenges, the U.S. Treasury Department’s top international official said.
Rising bond yields are typically indicators of stronger economic growth and higher profits for banks. That might not be the case this time, as a 30-year bull market in U.S. government debt shows signs of coming to an end.
Robert Fogel, the University of Chicago economic historian awarded a Nobel Prize for his data- driven reconsiderations of how railways and slavery influenced U.S. economic history, has died. He was 86.