Author: Ana Swanson
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Solar trade case weighs whether protection will save or sink industry
Two solar manufacturers are begging the federal government for help, arguing that without protection from a flood of cheap imports, the United States risks losing its own domestic solar industry. But as they made their arguments before a commission on Tuesday, they faced an opponent: much of the rest of their industry. In a hushed,…
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The McMansion, ultimate symbol of the pre-recession boom, is back
If there’s anything that typifies the boom times before the Great Recession, it is the McMansion. These sprawling houses proliferated around the country in the 2000s, as banks shelled out easy credit to fuel a housing bacchanalia they thought would never die. McMansions became the ultimate symbol of living beyond one’s means. Unlike your standard…
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Trump administration formally launches NAFTA renegotiation
WASHINGTON – The Trump administration on Thursday formally notified Congress of its intent to renegotiate the North American Free Trade Agreement, a step forward on a campaign promise that was widely popular among voters but has unsettled the U.S. companies that have constructed their businesses around the trade deal’s provisions. The notification starts the clock…
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Why more men will soon find themselves doing ‘women’s work’
Many fields that are traditionally dominated by women are set to expand in coming decades, while many jobs currently dominated by men are not. That’s the result of new research published Wednesday by Jed Kolko, an economist at job search site Indeed, which shows that less-educated men may especially face challenges in the job market…
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Trump says he will not label China currency manipulator, reversing campaign promise
President Donald Trump on Wednesday said he would not label China a currency manipulator, contradicting one of the biggest economic promises he made on the campaign trail. Trump told the Wall Street Journal that he had changed his mind because China is not currently manipulating his currency, adding that he hoped to enlist China’s help…
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Federal Reserve likely to begin cutting back $4.5 trillion balance sheet this year
Before the end of this year, the Federal Reserve probably will begin paring back the $4.5 trillion balance sheet it amassed as it attempted to prop up the U.S. economy during the recession, yet another sign of the U.S. economy’s continued progress since the financial crisis. Minutes of the Fed’s March policy meeting, released Wednesday,…
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U.S. trade deficit shrinks as global economy gathers strength
The U.S. trade deficit dropped sharply in February compared with the previous month, data released on Tuesday showed, as a stronger global economy helped to stoke demand for American-made goods. The trade deficit, the gap between U.S. imports and exports of goods and services, fell to $43.6 billion in February, down from $48.2 billion in…
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Why raising interest rates this week may have been a bad idea
For most, the Fed’s decision to raise interest rates on Wednesday for only the third time since the financial crisis began was a foregone conclusion. Before the announcement, markets pointed to a more than 95 percent probability of a rate hike, after numerous Fed officials had implied in public speeches that the economy was ready…
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Yellen signals Fed probably will raise rates in March
Federal Reserve chair Janet Yellen said a March rate hike would be “appropriate” if the economy continues to evolve as expected, adding strength to recent speculation that the central bank will raise its benchmark interest rate at its upcoming March meeting. In remarks made to the Executives Club of Chicago on Friday, Yellen said a…
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Yellen says March rate hike uncertain, effects from Trump policies remain unclear
WASHINGTON — Federal Reserve Chair Janet L. Yellen declined to say whether the central bank would raise interest rates at its upcoming meeting in March in testimony before Congress on Tuesday, though she also said it would be “unwise” to wait too long to increase rates. In her semiannual report to the Senate Banking Committee,…