Government spending cuts set to take effect this week will be felt at the local level as everyone from defense contractors in Virginia to waitresses in New Mexico take a hit. The overall impact on the U.S. economy may be more muted.
Calls by U.S. voters for smaller deficits are clashing with their demands for more jobs.
Consumer confidence in the U.S. rose in June to the highest level in more than six years as an improving job market bolsters households.
Orders for U.S. business equipment climbed in May, showing corporate investment is helping revive the economy after a slump at the start of the year.
Just a year since the U.S. housing market hit bottom after the biggest plunge in eight decades, signs of excess are re-emerging.
"The longer rates are down at these levels, the more activity we're going to get."
- Mark Vitner on Aug 21, 2014
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