Patrice Hill
Articles by Patrice Hill
Trade deficit jumped in May
The U.S. trade deficit with the rest of the world surged by nearly 5 percent to $42.3 billion in May, reflecting strong growth in imports of cars, computers and clothing, the Commerce Department reported Tuesday morning. Published July 13, 2010
Treasury: Chinese currency still undervalued
The Treasury Department says China's currency remains undervalued despite the Asian giant's move last month to loosen its strict link to the U.S. dollar. Published July 9, 2010
Drilling delay to boost oil imports
President Obama's moratorium on deep-water drilling could have the unintended effect of increasing U.S. dependence on oil imports -- thus raising the risk of a more common type of oil spill from tankers, energy analysts say. Published July 8, 2010
Recovery slows down as stimulus funding expires
The U.S. economic recovery downshifted dramatically this spring as various stimulus measures enacted by Congress ended or started to wane. Published July 4, 2010
Census jobs end, but private hirings rise again
Businesses resumed hiring again last month, posting 83,000 openings in areas from health care to manufacturing, partially offsetting the layoff of temporary census workers, the Labor Department reported Friday morning. Published July 2, 2010
Finance bill clears House hurdle
The House passed President Obama's sweeping financial reform measure on a 237-192 party-line vote Wednesday while Senate leaders — still seeking to nail down elusive Republican votes — put off taking up the measure until mid-July. Published June 30, 2010
Democrats scramble to save reform package
President Obama touts his financial reform bill as the most far-reaching since the Great Depression, but critics are calling it a paper tiger that wouldn't have stopped the last financial crisis while imposing an intricate web of new government regulation on banks that will stifle economic growth for years to come. Published June 29, 2010
Confidence plunge helps send stocks down
A sharp drop in consumer confidence helped set off a drop in stocks on Tuesday and renewed worries about the strength of the U.S. economic recovery. Published June 29, 2010
Obama hails deal on Wall Street reform
President Obama flew to Canada Friday morning for an economic summit with world leaders, armed with news of a congressional deal reforming Wall Street practices that led to the 2008 financial crisis. Published June 25, 2010
Europe budget cutters outpace U.S.
European leaders, under the gun of a withering financial crisis, are actually proposing and carrying out drastic cuts, provoking the kind of public backlash that inspires fear in U.S. politicians. Published June 25, 2010
Mortgage rates fall to record lows
The rates on 30-year mortgages last week fell to 4.69 percent, the lowest level on record, Freddie Mac reported Thursday. Published June 24, 2010
New home sales plunge to hit a record low
A report Wednesday that new home sales plummeted to a record low after the federal housing tax credit expired added to worries that the broader economy could relapse after a spurt of growth in the last year. Published June 23, 2010
Stimulus aid to states seen delaying ‘day of reckoning’
A debate is raging over whether stimulus funds are actually helping states weather the recession or simply enabling them to postpone matching a record drop in tax revenues since 2007 with badly needed spending reforms and cuts. Published June 21, 2010
House provision on Fed rejected
Congressional negotiators on Wednesday jettisoned a House amendment that threatened to interfere with the Federal Reserve's anti-inflation efforts while widening the public window for viewing into the Fed's secretive lending and securities market activities. Published June 16, 2010
EU overspenders may lose voting rights
France and Germany on Monday proposed suspending the voting rights of European Union members who persistently break budget deficit limits, a major reform that would put teeth for the first time in the union's economic pact, but one that faces legal hurdles. Published June 14, 2010
Fed chairman soft-pedals urgency of reducing spending, raising taxes
While repeating past warnings about the dire consequences of continuing to amass unsustainable debts, Federal Reserve Chairman Ben S. Bernanke took a surprisingly conciliatory tone Wednesday in his latest testimony on budget issues before Congress. Published June 9, 2010
European debt crisis boon to U.S.
While fears of a double-dip recession precipitated by the European debt crisis recently have haunted Wall Street, the crisis actually appears to be boosting the U.S. economy. Published June 9, 2010
Census hiring fuels May job surge
A bulge in hiring by the U.S. Census Bureau caused a jump in jobs last month, accounting for 411,000 out of 431,000 new jobs reported by employers during the month, the Labor Department said Friday morning. Published June 4, 2010
BP disaster darkens U.S., world fuel future
It was supposed to be the future, both for the United States and the world. Published June 3, 2010
Sound banking saved Canada
As the United States and European countries struggle to cope with mountains of debt accumulated through a series of market crises, massive bailouts and recession, one nation stands out for having avoided the sordid cycle of bailouts and debt. Published May 31, 2010
