Patrice Hill
Articles by Patrice Hill
Economic growth in 2nd half of 2013 fastest in a decade
The economy in the second half of 2013 grew by the fastest rate in a decade, despite the depressing effect of a prolonged government shutdown and deep federal budget cuts, the Commerce Department reported Thursday. Published January 30, 2014
Markets reel as Federal Reserve cuts back stimulus
The Federal Reserve on Wednesday shook global markets, cutting back once again on its economic stimulus program and signaling that a recent softening of job gains and turmoil in emerging markets will not deter it from ending its extraordinary easing measures this year. Published January 29, 2014
Spike in deadly rail accidents fuel push to build Keystone XL pipeline
A string of deadly accidents and safety scares in recent months involving rail cars carrying crude oil is vividly demonstrating the dangers of relying on trains to transport the growing volumes of fuel being produced in North America, while giving ammunition to those who say the stalled Keystone XL and other pipelines are preferred ways to safely funnel fuel to market. Published January 26, 2014
Global market rout hits Wall Street
A meltdown in emerging markets took a toll on the U.S. stock market Friday, sending the Dow Jones Industrial Average plummeting by over 300 points. Published January 24, 2014
Congress inaction could cost U.S. clout at IMF
Though many legislators may not realize it, Congress failed to include in the massive spending deal approved last week funds to implement reforms sought for years by both Democratic and Republican presidents that would give China, India, Brazil and other large emerging nations a greater say in activities of the International Monetary Fund. Published January 20, 2014
Government benefits cushion middle class, poor from income blows
Various measures of the income gap between the rich and everyone else show that inequality soared to record highs after the Great Recession. But what those measures do not reveal how a battery of government benefits ranging from unemployment aid and middle-class tax cuts to Medicaid and food stamps substantially cushioned the economic blow on the middle class and poor. Published January 13, 2014
Top 1 percent reaps 90 percent of income gains since Obama took office
President Obama, who vowed to conquer Wall Street and revive opportunity for everyday Americans on Main Street, has this to show: Wall Street is home once again to the biggest concentration of billionaires on earth, while wages for the middle class have barely kept up with inflation. Published January 13, 2014
U.S. economy adds 74K jobs, rate falls to 6.7 percent
The nation's unemployment rate plunged from 7 percent to 6.7 percent last month as Americans continued to drop out of the labor force while some found jobs, the Labor Department reported Friday morning. Published January 10, 2014
Frigid weather strains fuel supplies at U.S. utilities
Utilities in the Mid-Atlantic and Northeast came uncomfortably close Tuesday to running out of fuel as the worst Arctic cold blast in two decades drove demand for electricity and home heating to record highs. Published January 7, 2014
Yellen is handed reins to Fed in bumpy ride to end stimulus
With the Senate's approval Monday of Janet Yellen to become the first female Federal Reserve chair at the end of the month, she takes on the difficult mission of smoothly ending the unprecedented $4 trillion of stimulus programs launched by her predecessor, Ben S. Bernanke. Published January 6, 2014
Senate confirms Yellen as next Fed chairman
The Senate Monday voted 56 to 27 to confirm Federal Reserve Board vice chairman Janet Yellen as the next chairman, succeeding Ben S. Bernanke when he departs Jan. 30. Published January 6, 2014
Opening development of oil sector catapults Mexico as leader of emerging markets
Mexico is gaining stature as an invigorated leader among the world's major emerging markets thanks to the speedy enactment last month of far-reaching energy reforms that are expected to boost economic growth by opening development of its vast oil and gas resources. Published January 1, 2014
Stock market caps best year of century
The stock market put in a stellar performance in 2013, with major indexes soaring to all-time highs and posting gains of nearly 30 percent — the best since the 1990s. Investors are betting that a detente in Washington's fiscal wars will allow the U.S. economy to pick up some steam in 2014. Published December 31, 2013
Consumers warming up amid Christmas cheer
U.S. consumers are cheering up with Christmas approaching and appear set to put in a solid performance during the critical holiday shopping season. Published December 23, 2013
Congress puts Obama on bumpy road for fast-track trade deals
President Obama has stepped up efforts to negotiate far-reaching trade deals with Asia and Europe in his second term, but he faces an uphill battle next year in Congress to gain the same authority his predecessors had to finalize such agreements. Published December 22, 2013
Federal Reserve surprises with pullback on bond stimulus plan
Citing underlying strength in the recovering U.S. economy, the Federal Reserve surprised world financial markets Wednesday by cutting back its bond purchase program by $10 billion a month in 2014. Published December 18, 2013
Fed eases up on stimulus bond-buying program
The Federal Reserve gave the first hint that it will ease off the economic accelerator, announcing plans to "modestly reduce the pace" of its asset purchases in 2014. Published December 18, 2013
Canadian court backs plaintiffs in Chevron case of Ecuadorean rain forest pollution
Chevron Corp.'s environmental opponents won a round in their long-running legal battle against the oil giant Tuesday, as a Canadian court upheld their bid to try to seize Chevron assets in Canada to enforce a $9.5 billion Ecuadorean court judgment over pollution in the Amazon rain forest. Published December 17, 2013
H2OIL: New fuel technology gulps water, threatens supply
For decades, Americans worried about running out of energy to keep their cars revving and their homes heated, but with technologies making oil, natural gas and other fossil fuels more plentiful, the danger now is that the world might run out of the water needed to produce power. Published December 15, 2013
Russian officials press bilateral U.S. trade deal
Russia wants to set aside tensions with the U.S. and forge the first bilateral trade and investment treaty between the former Cold War rivals. Published December 11, 2013
