Patrice Hill
Articles by Patrice Hill
Unemployment rate stays at 9.7%; 36K jobs cut
UPDATED: The nation's unemployment rate was unchanged at 9.7 percent last month as employers shed another 36,000 jobs, the Labor Department reported Friday morning. Published March 5, 2010
American reliance on government at all-time high
The so-called "Great Recession" has left Americans depending on the government dole like never before. Published March 1, 2010
Bernanke delivers blunt warning on U.S. debt
With uncharacteristic bluntness, Federal Reserve Chairman Ben S. Bernanke warned Congress on Wednesday that the United States could soon face a debt crisis like the one in Greece. Published February 25, 2010
Induced inflation feared as way to cut debt
Fears are growing that the United States will once again resort to printing money and ginning up inflation to resolve its debt problem. Published February 19, 2010
Greek woes hit markets around the world
World financial markets have been whipsawed in recent days by the European debt crisis, with stock and bond investors thousands of miles from Greece feeling the effects of that nation's budget woes. Published February 12, 2010
Census hiring set to boost job gains
While Washington legislators debate what role the government should play in job creation this year, the government itself is poised to go on a major hiring spree this spring. Published February 8, 2010
January unemployment dropped to 9.7%
The nation's unemployment rate fell out of the double-digit range last month and landed at 9.7 percent as businesses laid off fewer workers than they did throughout most of last year, the Labor Department reported Friday morning. Published February 5, 2010
Deficit imperils nation’s top credit rating
The United States is drawing closer to the kind of debt crisis plaguing some European countries, where a financial emergency forces political leaders to make draconian spending cuts and tax increases to maintain the confidence of international investors. Published February 4, 2010
Growth spurt expected to slow this year
After the best quarterly growth in six years at the end of 2009, the economy is expected to settle down in 2010 to a more subdued state that reflects underlying difficulties with jobs and credit still weighing on consumers. Published February 1, 2010
Economic growth soared by 5.7%
The economy grew at a breath-taking 5.7 percent pace in the final quarter of last year as it zoomed out of recession, the fastest growth in more than six years, the Commerce Department reported Friday morning. Published January 29, 2010
Bernanke wins 2nd term as Fed chief
The Senate on Thursday handed Federal Reserve Chairman Ben S. Bernanke a second term after a week of contentious and sometimes suspenseful debate. Published January 29, 2010
Senate, in 70-30 vote, approves Bernanke’s second term
The Senate on Thursday afternoon handed Federal Reserve chairman Ben S. Bernanke a second term after a week of contentious debate. Published January 28, 2010
Fed nods to Hill’s economy concerns
The Federal Reserve acknowledged concerns on Capitol Hill about consumers who are out of jobs and short on credit, saying Wednesday that it may continue programs to support mortgages, small businesses and consumers loans this year if financial conditions don't improve. Published January 28, 2010
Bernanke’s 2nd term in peril in Senate
The populist political storm aimed at Wall Street has taken a turn toward Federal Reserve Chairman Ben S. Bernanke in recent days, threatening to stall his appointment to a second term and raising the risk of intense turmoil in the financial markets in coming days. Published January 25, 2010
Obama’s bank tax spurs fairness queries
President Obama tailored his proposed tax on banks to tap into public anger at Wall Street, yet the $117 billion raised would be used mostly to pay for the bailouts of Detroit, AIG and a social program to help homeowners facing foreclosure. Published January 21, 2010
Hearing urged on bailout for Fannie, Freddie
Six Republican senators are demanding a hearing by the Senate banking committee on the Treasury's little-noticed move to remove caps on the amount of taxpayer aid given to Fannie Mae and Freddie Mac in the next three years. Published January 21, 2010
Feds find little fraud at big Wall Street firms
While the American public and Capitol Hill lawmakers appear to blame wrongdoing on Wall Street as the primary cause of the global financial crisis, federal law enforcement agencies have had little success in finding and prosecuting instances of fraud at the nation's major investment firms. Published January 19, 2010
CEOs trade blame with Congress over finance crisis
Wall Street clashed with Washington on Wednesday over the causes of the biggest financial crisis since the Great Depression, with political leaders and financial chieftains trying to cast the blame on each other. Published January 14, 2010
Taxpayers to pay for Fannie, Freddie aid
A recent move by the Treasury Department to remove $200 billion caps on assistance to Fannie Mae and Freddie Mac eliminates any doubt that taxpayers will pay for all their losses for the next three years and appears to be a major step toward formally nationalizing the housing enterprises, analysts say. Published January 13, 2010
Fragile recovery hangs on job resurgence
The biggest question looming over the economy is whether it will start to create enough jobs this year to keep the fragile recovery going. Published January 11, 2010
