Lou Crandall News
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Consumer confidence unexpectedly jumped in April, and the rebound in home values accelerated earlier this year, showing the recovery in residential real estate is buttressing the U.S. economy.
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The U.S. Treasury Department may have more time than economists previously estimated before the government’s debt limit is reached as changes in tax policy and an economic rebound boost federal revenue.
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Fannie Mae and Freddie Mac may send the Treasury Department enough money in June to extend by a month government operations under the debt ceiling, giving Republicans and Democrats more time to hammer out solutions to the nation’s finances.
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A strengthening job market is helping lift Americans’ spirits, raising the odds the economy will pick up this year as consumers sustain a surprise spending streak.
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In 1980, the U.S. economy was in the middle of a severe downturn, and jobs weren’t easy to find. So Lou Crandall , after earning a bachelor’s degree with a focus on economics from Cornell University, scattered resumes far and wide. One went to an employment agency looking for bilingual workers. Crandall had spent five years of his boyhood in Italy, where his father taught in an American school, and was fluent in Italian, Bloomberg Markets magazine reports in its January issue.
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A thawing in dollar markets for European banks may be making it easier for the Federal Reserve to fund its balance sheet, which has ballooned to a record of more than $3 trillion.
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Americans’ confidence advanced last week to the highest level this year and jobless claims dropped more than forecast, pointing to a brighter outlook for an economy that stumbled at the end of 2012.
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The index of U.S. leading indicators rose for a second month in January, showing the world’s largest economy is on track to sustain the expansion in the first half of this year.
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The United States of America isn’t going to default on its debt, even if Congress doesn’t increase the statutory borrowing authority in the next couple of months. Everyone in Washington knows, or should know, this. Any assertions to the contrary are tantamount to -- perish the thought! -- playing politics with the debt ceiling.
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Federal Reserve asset purchases won’t do much to help the economy now and may set a bad precedent for later actions, Wrightson ICAP LLC chief economist Lou Crandall said today.
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