Patrice Hill
Articles by Patrice Hill
Prospect of more battles over budget unnerves economists
The political shootout during this summer's debt standoff ended up wounding the economy, and the threat of more missteps as Congress and the White House resume their budget battles next week looms as one of the biggest risks for an economy already perilously close to recession, economists warn. Published September 1, 2011
Zig-zagging market closes up again
A ray of hope for the economy emerged Thursday and helped to snap the stock market out of its deep morass, spawning a 423-point rally in the Dow Jones Industrial Average. Published August 11, 2011
Stocks plunge again on bank woes
Wall Street stocks took another tumble Wednesday after a brief recovery as worries widened over the health of U.S. and European banks hit hard by debt crises on both sides of the Atlantic. Published August 10, 2011
Stocks rebound in late surge of trading
Wall Street stocks staged a convincing comeback after weeks of turmoil Tuesday, with the Dow Jones industrial average first plumbing new lows near 10,500 before surging to end up 430 points in a lightning-fast rebound in the closing 45 minutes of trading. Published August 9, 2011
U.S. credit downgrade pummels market
The historic downgrade of the United States engendered by political gridlock in Washington caused one of the worst days ever on Wall Street Monday, with the Dow Jones industrial average plummeting more than 600 points in its sixth-biggest drop. Published August 8, 2011
Dow Jones average plunges 635 points
Wall Street stocks plummeted Monday on the first-ever downgrade of the United States' credit rating, with the Dow Jones Industrial Average plunging 635 points in a panicky day of wild gyrations. Published August 8, 2011
Economy adds 117K jobs, a welcomed sign for troubled markets; 9.1% unemployment
Job gains unexpectedly accelerated last month to 117,000, and the unemployment rate declined to 9.1 percent — news that eased recession worries in troubled financial markets. Published August 5, 2011
Dow takes worst hit since 2008
Worries that the sudden economic downturn is going global sent Wall Street plummeting Thursday, with the Dow Jones industrial average falling more than 500 points in the worst market rout since the 2008 financial crisis. Published August 4, 2011
Fears of double-dip recession rise
A report revealing the first decline in consumer spending since the Great Recession shocked Wall Street investors Tuesday and raised fears that the economy could fall into a double-dip recession. Published August 2, 2011
Going for broke could break fragile economy
The economy has grown so fragile this year that missteps by the warring factions in Congress could tip it back into recession, economists warn. Published July 31, 2011
U.S. growth tepid in spring quarter
The economy inched ahead at a 1.3 percent annual growth rate last spring, held back by soaring gasoline prices and disruptions in manufacturing caused by the March earthquake/tsunami in Japan. Published July 29, 2011
‘Wiggle room’ seen on Aug. 2 debt deadline
Global markets recently fixated on the budget fight in Washington, but have remained mostly calm, in part because many investors think the Treasury Department will be able to avoid default for at least a week or two beyond the Aug. 2 "drop dead" deadline touted by the White House. Published July 26, 2011
‘Too big to fail’ bank law seen as too weak to work
A year after the enactment of a sweeping Wall Street reform law, evidence is growing that it failed in its main mission of ending taxpayer bailouts of global banks considered "too big to fail." Published July 21, 2011
‘Kicking the can’ threatens credit rating
Kicking the can down the road — a great Washington tradition when the two major political parties reach a budget impasse — is not an option this time if the U.S. is to maintain its privileged financial standing in the world. Published July 18, 2011
Moody’s reiterates credit-rating threat
Moody's Investors Service on Wednesday moved toward downgrading the Treasury's AAA credit rating, considered the gold standard in world markets for most of the last century, warning that signs of a breakdown in the increasingly acrimonious budget negotiations have raised the likelihood of default. Published July 13, 2011
Jobs numbers underscore dilemma over agreement
The economy's sudden downshift in growth and employment in recent weeks has increased the urgency for President Obama and Congress to reach a debt-reduction deal at the same time it has made their task more difficult. Published July 10, 2011
Unemployment at 9.2 percent as jobs stall
A second straight month of paltry job growth in June sent the unemployment rate rising to 9.2 percent, showing that the economy remained in a deep pause, the Labor Department reported Friday morning. Published July 8, 2011
Lagarde promises to push reforms at IMF
Christine Lagarde, at her first news conference as the new head of the International Monetary Fund, vowed Wednesday morning to push ahead with reforms that give a greater say to major emerging countries such as China in managing the world economy. Published July 6, 2011
Credit agencies warn about debt-payment delay
With signs multiplying that debt-reduction talks between the White House and Congress are at an impasse, Wall Street credit agencies are stepping up their warnings that even a temporary delay in making payment on the government's $14.3 trillion of debt will result in a significant cut in the nation's perfect credit rating. Published July 3, 2011
Economic stimulus measures unconventional
Stuck with a glacial pace of economic recovery and little likelihood that Congress will approve more stimulus, the White House has been resorting to some unconventional measures to try to boost growth. Published June 28, 2011
