Patrice Hill
Articles by Patrice Hill
Gold soars, dollar slides, investors hedge
Worries about loose money and budget policies around the world sent gold soaring and the U.S. dollar slumping Tuesday, reviving a trend that threatens to reignite inflation for consumers while tarnishing the privileged reserve status of the dollar. Published September 9, 2009
China’s stimulus powers world economies
While politicians in Washington debate whether President Obama's stimulus program is helping to pull the U.S. economy out of a recession, economists have already declared the winner in the stimulus race, and it's China. Published September 8, 2009
Jobless rate at highest level in 26 years
The nation's unemployment rate surged to a 26-year high of 9.7 percent last month as employers slashed jobs in nearly every part of the economy, the Labor Department reported Friday. Published September 5, 2009
Rising layoffs send unemployment soaring to 9.7%
UPDATED: The nation's unemployment rate surged to a 26-year high of 9.7 percent last month as employers slashed jobs in nearly every corner of the economy, the Labor Department reported Friday morning. Published September 4, 2009
Bailed-out execs get boost as stocks rally
Big bank executives are well on the way to cashing in on lucrative stock options that have soared in value as a result of their federal bailout. Published September 2, 2009
Feds steady housing market, perhaps permanently
Home sales are showing faint signs of life only after massive federal rescue efforts, raising questions about whether the government will ever be able to withdraw its support without prompting another collapse in the housing market. Published August 31, 2009
FDIC chief warns of excessive risk
Big banks and Wall Street firms appear to be taking big risks again, possibly putting taxpayers in jeopardy, thanks to generous government programs that guarantee they will get bailed out no matter how badly they bungle, Federal Deposit Insurance Corp. Chairman Sheila C. Bair said in an interview Tuesday with The Washington Times. Published August 26, 2009
FDIC chief: Banks need to be willing to modify loans
Banks need to move more aggressively to modify loans for consumers who are having difficulty paying their mortgages, Federal Deposit Insurance Corp. Chairman Sheila C. Bair said in an interview with editors and reporters at The Washington Times on Tuesday. Published August 25, 2009
Obama renominates Bernanke as Fed chairman
President Obama on Tuesday morning nominated Ben S. Bernanke to a second term as chairman of the Federal Reserve. Published August 25, 2009
White House slashes deficit forecast for ‘09
The White House is reducing its forecast of this year's budget deficit to $1.58 trillion as a result of significantly lower than expected spending on bank bailouts, congressional sources say. Published August 25, 2009
Small banks fail in big numbers
While attention has focused on the improving fortunes of the nation's largest banks and Wall Street firms, an increasing number of smaller banks have succumbed each week to a slow tidal wave of defaults on consumer and business loans. Published August 21, 2009
Oil prices rise as U.S. supply declines
Oil prices surged nearly 5 percent Wednesday in New York trading after China's demand for oil rose to a record and the U.S. government reported a surprisingly large drawdown in oil supplies. Published August 20, 2009
Demand, drawdown cause oil-price surge
Oil prices surged nearly 5 percent Wednesday in New York trading after China's demand for oil rose to a record and the U.S. government reported a surprisingly large drawdown in oil supplies. Published August 19, 2009
Weak sales, joblessness harm recovery
Stock markets around the world plunged Monday on worries that the U.S. consumer remains mired in debt and unemployment and will be unable to contribute to the much-heralded global economic recovery. Published August 18, 2009
Fed reverses plan to buy U.S. debt
After more than a year of pumping money into financial markets to buoy the troubled economy, the Federal Reserve began to reverse course Wednesday, taking the first step to withdraw some of those trillions of dollars by announcing that it will phase out an unprecedented program to purchase some of the government's own debt. Published August 13, 2009
Fed ends controversial debt-buying program
The Federal Reserve announced Wednesday that it gradually will end an experimental program of purchasing U.S. Treasury securities in an effort to lower long-term interest rates. Published August 12, 2009
Loan defaults on rise despite uptick
Despite recent signs of economic improvement, defaults are soaring on all kinds of loans to businesses and consumers, including commercial real estate, prime mortgages and credit cards. Published August 11, 2009
Wall Street bonuses set off alarms
Wall Street firms that figured their lavish pay practices might escape public outrage and scrutiny once they paid back their bailout funds have come in for a rude awakening. Published August 10, 2009
Report: Unemployment rate steadies in July
The nation's unemployment rate unexpectedly dipped to 9.4 percent last month as businesses laid off fewer workers, in a strong sign the grip of the worst recession in modern times is loosening, the Labor Department reported Friday. Published August 8, 2009
Job losses slow to 247,000; rate dips to 9.4%
The nation's unemployment rate dipped slightly to 9.4 percent last month as businesses laid off fewer workers, in a sign the grip of the worst recession in modern times is easing, the Labor Department reported Friday morning. Published August 7, 2009
