Patrice Hill
Articles by Patrice Hill
Economy loses 85K jobs; unemployment rate steady
UPDATED: The unemployment rate held steady at 10 percent last month as businesses laid off another 85,000 workers, the Labor Department reported Friday morning. Published January 8, 2010
Nations in the red threaten stability
The world economic crisis has entered a new stage where the overstretched finances of the United States and other national governments have become the biggest threat to economic stability. Published January 7, 2010
Congress takes aim at Fed’s autonomy
Investors are increasingly worried by threats in Congress to delay the reappointment of Fed Chairman Ben S. Bernanke and meddle in the Federal Reserve's decisions on interest rates, fearing a politicization of the agency with the greatest reach over the economy and markets. Published December 30, 2009
Instead of lending, banks focus on covering losses
President Obama has been demanding that banks start lending again, but the unstated secret is that banks are not lending much because they are busy paying back their government aid and covering losses of $1 trillion or more on defaulting loans. Published December 21, 2009
European financial woes gives boost to dollar’s strength
Souring economic prospects in Europe have helped halt the dollar's months-long decline, enabling the greenback to rise to unexpected heights against the euro this week in line with signs of strength in the U.S. economy. Published December 18, 2009
Fed sees economy improving
The Federal Reserve provided a more upbeat assessment on the economy Wednesday, noting that steep job losses appear to be on the wane and consumers are starting to spend again. Published December 17, 2009
Fed pledges to keep interest rates low
The Federal Reserve provided a more upbeat assessment of the economy Wednesday, noting that steep job losses appear to be on the wane and consumers are starting to spend again. Published December 16, 2009
Fed’s withdrawal from housing threatens growth
The housing market has shown some encouraging signs of strength in recent months, but analysts caution that the market is mostly responding to powerful government stimulus measures and is not healthy enough to keep growing on its own after the withdrawal of federal aid. Published November 30, 2009
Health, climate bills seen to stifle hiring
While President Obama and congressional leaders say they would like to do more to spur job creation, economists and business executives warn that their plans to impose new health care and climate-change costs on corporations would have the opposite effect. Published November 27, 2009
Green energy stimulus growing few jobs
"Green energy" is proving to be no miracle solution to the nation's monumental unemployment problems, and it is doing little to help the economy emerge from its deepest recession in decades, economists say. Published November 23, 2009
Despite public boost, dollar keeps sliding
The dollar fell to its lowest level in nearly 15 months Monday despite efforts by top U.S. and Asian officials to talk up the American currency. Published November 17, 2009
Natural gas surge, Is it a pipe dream?
Climate change legislation in Congress appears to be based in part on the optimistic view that the United States has a plentiful supply of natural gas and would push businesses to switch to gas from coal, critics say, even before the supply has been secured. Published November 13, 2009
Sinking dollar fuels new gold rush
With the dollar on a 15-month slide, more central banks are putting their faith in gold instead of greenbacks. Published November 10, 2009
Federal Reserve opposed as big bank savior by odd allies
An unusual alliance of conservatives and liberals is pushing to break up or downsize banks deemed "too big to fail," rather than create a new regulatory regime led by the Federal Reserve to try to keep them from getting into trouble again. Published November 9, 2009
Jobless rate surges past 10 percent
The nation's unemployment rate broke the 10 percent barrier last month as employers continued to slash jobs in an effort to lower their costs and stay in business. Published November 7, 2009
Unemployment rate breaks through 10%
The nation's unemployment rate soared to 10.2 percent last month as the economy lost another 190,000 jobs, the Labor Department reported Friday morning. Published November 6, 2009
Bankrupt CIT unlikely to get 2nd bailout
CIT Group Inc., the nation's largest lender to small businesses, filed for bankruptcy reorganization Sunday in the biggest financial failure this year and first major test of the administration's resolve not to bail out every struggling institution that asks for help. Published November 2, 2009
Economic growth boosted by small U.S. programs
Economic growth roared back at a 3.5 percent pace in the summer quarter, thanks to two powerful but relatively inexpensive stimulus measures targeted at consumers. But the vast majority of the $787 billion stimulus that went toward funding government programs had a more muted impact, according to economic figures released Thursday. Published October 30, 2009
Economic growth spikes to 3.5% in 3Q
UPDATED: Economic growth came roaring back in the summer quarter, registering at a 3.5 percent pace and raising hopes that the economy is entering a recovery after the longest recession since World War II, the Commerce Department reported Thursday morning. Published October 29, 2009
Congress fears risk of economic relapse
Fear that the economy might fall back into recession is compelling Congress to extend unemployment benefits and incentives for homebuying that lawmakers hope will help sustain growth. Published October 28, 2009
