The economic expansion in the U.S. is sufficiently entrenched to withstand a short-term slump in stock prices and weakness in emerging markets, keeping the Federal Reserve on track to trim stimulus, economists say.
The U.S. economic expansion is sufficiently entrenched to overcome a short-term slump in stock prices and a cooling in emerging-market growth, keeping the Federal Reserve on track to reduce stimulus, economists say.
The number of Americans who owe more on their mortgages than their homes are worth fell at the fastest pace on record in the third quarter as prices rose, a sign supply shortages may ease as more owners are able to sell.
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.
Michelle Meyer, senior U.S. economist at Bank of America Corp., says the rapid increase in mortgage rates has "changed the equation of affordability." Meyer talks with Bloomberg's Mark Mills on Bloomberg Radio's "Bloomberg - The First Word."
Michelle Meyer, senior U.S. economist at Merrill Lynch, discusses the outlook for housing and employment in the U.S. Meyer speaks with Bloomberg's Carol Massar and Michael McKee on "Bloomberg On the Economy."
At Bank of America Corp. , where the company’s home-price forecasts have proved too good to be true, billions of dollars of new losses are at stake along with the credibility of Chief Executive Officer Brian T. Moynihan .