Patrice Hill
Articles by Patrice Hill
Accelerating car sales aid economy
Early reports out Wednesday showed a significant strengthening of the economy last month, with another double-digit increase in auto sales and the largest gain in small-business jobs in three years. Published December 1, 2010
Holiday spirit hinges on taxes, jobless benefits
The important Christmas spending season got off to a promising start this weekend, but the lame-duck Congress and President Obama would play the Grinch if theyre unable to agree on extensions of unemployment benefits and the Bush-era tax cuts. Published November 30, 2010
GM’s union recovering after stock sale
General Motors Co.'s recent stock offering was staged to start paying back the government for its $50 billion bailout, but one group made out much better than the taxpayers or other investors: the company's union. Published November 25, 2010
Bailout sparks crisis in Ireland
The European Union's promised bailout set off a political crisis in Ireland on Monday while it did little to calm market fears that Portugal — and possibly Spain — will be the next to need assistance. Published November 22, 2010
Fed chief Bernanke grilled by GOP on Hill over loose money policies
Federal Reserve Chairman Ben S. Bernanke went to Capitol Hill on Wednesday to defend himself against the latest assault by Republicans on the Fed's loose money policies. Published November 17, 2010
Prospect of Ireland bailout drives dollar up, Dow down
Worries about the European debt crisis boiled over in world markets Tuesday, this time triggered by the prospect of debt-strapped Ireland becoming the second country to need a bailout. Published November 16, 2010
Car, retail sales reflect brighter economic picture
The economic outlook has brightened noticeably in recent days, with a splurge of car-buying by consumers unexpectedly lifting retail sales and businesses putting some of their nearly $2 trillion in stashed cash to work buying other companies with an eye toward growth. Published November 15, 2010
Germany rebuffs Obama on trade gap
German Chancellor Angela Merkel on Thursday rejected a U.S. proposal to try to cap global trade imbalances while the world's other export powerhouse, China, shunned U.S. calls for speedier economic reform. Published November 11, 2010
Obama’s defense of Fed action a tough sell to G-20
President Obama defended efforts to revive faster growth in the U.S. economy as the Group of 20 summit of world leaders got off to a testy start in South Korea Wednesday with little prospect for resolving simmering trade and currency disputes. Published November 10, 2010
Fed move threatens Obama’s G-20 agenda
President Obama's goal of galvanizing efforts by the world's leading economic powers this week to curb ballooning trade imbalances around the world appears in jeopardy as international outrage mounts over the Federal Reserve's easy-money policies. Published November 9, 2010
Job growth rose to 151,000 last month; unemployment rate still 9.6%
Job growth picked up last month to 151,000 as employers across a broad spectrum of industries added to their staff, the Labor Department reported Friday morning. Published November 5, 2010
World markets surge in wake of Fed’s infusion of cash
Stocks soared from New York to Tokyo on Thursday on investor elation over the Federal Reserve's massive cash infusion for the economy and markets, sending U.S. stock indexes to their highest levels since the 2008 financial crisis. Published November 4, 2010
Fed buys $900B in bonds to spur growth
The Federal Reserve on Wednesday made good on its promise to try to spur faster economic growth through a controversial program to purchase about $900 billion in Treasury bonds — nearly half the amount issued to finance this year's federal deficit. Published November 3, 2010
Analysts: Improving economy could benefit Obama in 2012
The sagging economy laid the groundwork for what looks to be a stunning defeat for congressional Democrats in Tuesday's elections, but two years from now a solidly recovering economy could lift President Obama's prospects for a second term, analysts say. Published November 2, 2010
GOP takeover would tighten gridlock on financial relief
The two political parties are deeply divided over how to deal with the economy's lackluster performance, and the divide promises to get only more cavernous after Tuesday with the likely takeover of the House by a rejuvenated conservative Republican majority. Published October 31, 2010
At 2 percent, economic growth remained sluggish during summer
The economy kept growing, but at a tepid annual rate of 2 percent during the summer quarter -- only slightly above the 1.7 percent pace set during the spring, the Commerce Department reported Friday morning. Published October 29, 2010
Debtors repent by walking away, not by paying off
A common refrain these days is that Americans are learning to save more and spend less, depending less on credit cards and unsustainable increases in mortgage debt to finance lifestyles that many can't afford. Published October 28, 2010
Who wins if foreclosures halted?
Taxpayers and the federal government would be among the biggest losers if officials heed calls from some legislators and homeowners rights groups to stop millions of foreclosures across the country because of possible paperwork problems. Published October 26, 2010
Fannie Mae and Freddie Mac deep in the hole
Fannie Mae and Freddie Mac are well on their way to becoming the biggest and most enduring black holes for taxpayers coming out of the 2008 financial crisis, with a new estimate of their bailout cost nearly doubling the tab to as high as $259 billion. Published October 21, 2010
Economists question ‘tea party’ push for drastic spending cuts
"Tea party" activists are exhibiting a fervor for budget cuts not seen in years, pushing to slash everything from Social Security to unemployment benefits in their drive to cut the burgeoning federal debt. Published October 20, 2010
