The biggest U.S. banks including JPMorgan Chase & Co. and Citigroup Inc. are lending the smallest portion of their deposits in five years as cash floods in from savers and a slow economy damps demand from borrowers.
President Barack Obama’s proposal to increase the U.S. minimum wage by 24 percent faces long odds in Congress, where Republicans took aim at it minutes after the State of the Union address. That might not matter: beyond Capitol Hill, some states took action long ago.
Tom Donohue, the president of the U.S. Chamber of Commerce, last week said higher taxes and a “flood of new regulations” will damage an already subpar economy. “In many ways, we’re going backwards,” he said.
William Dunkelberg, chief economist for the National Federation of Independent Business, says policy uncertainty has small business owners refusing to commit to business investment. Dunkelberg talks with Bloomberg's Tom Keene and Scarlet Fu on Bloomberg Radio's "Bloomberg Surveillance."