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Federal Reserve chief Ben Bernanke tells Congress: You’re making weak economy worse

Federal Reserve Chairman Ben Bernanke said Wednesday that the US economy needs more help from the fiscal policies that Congress controls, not just from the Fed’s own stimulus efforts. He said that the economy faces “strong headwinds created by federal…  …

Commerce Department says 2013 economic recovery weaker than thought

The US economic recovery was far weaker in the first quarter of the year than first thought, the Commerce Department said on Wednesday. The nation’s gross domestic product (GDP), the broadest measure of all goods and services produced in the economy, grew at a 1.8% annual rate from January through…

Falling U.S. deficit renews ‘austerity or growth?’ debate

Austerity or growth? Europe’s struggling economies have faced the question without fully answering it in recent years, but the United States is on track to do both. Projections unveiled this week by the Congressional Budget Office indicate the US deficit will shrink more than 40 percent during fiscal 2013, returning…

Watch live: Obama talks about strengthening the economy in North Carolina

Following last night’s State of the Union address, President Obama visits the Linamar Corporation in Ashville, N.C., to deliver remarks about strengthening the economy for the middle class Americans. Watch live, broadcast on Feb. 13. Visit msnbc.com for breaking news, world news, and news about the economy…

Obama applauds lower unemployment rate

US President Barack Obama Friday welcomed a downtick in the unemployment rate to 8.2 percent, despite a slowdown in overall job creation, but said there was more work to do to revive the economy. “We welcome today’s news that our businesses created another 121,000 jobs last month and the unemployment…

US confirms economy grew 3.0% in Q4

The US economy grew at an annual rate of 3.0 percent in the fourth quarter of 2011, the Commerce Department said in its final estimate Thursday. The department’s third estimate for gross domestic product growth in the period was unrevised from its prior estimate and capped a year of steadily accelerating growth. GDP grew…

U.S. adds 227,000 new jobs, unemployment steady at 8.3 percent

The US jobless rate held steady at 8.3 percent in February after falling for five straight months, the Labor Department said Friday. The economy created another 227,000 new jobs, topping the the 200,000 mark for the third straight month, not enough to pull the unemployment rate lower but good enough…

GE to hire 5,000 U.S. veterans, investing in plants

WASHINGTON (Reuters) - General Electric Co plans to hire 5,000 U.S. military veterans over the next five years and to invest $580 million to expand its aviation footprint in the United States this year. The largest U.S. conglomerate unveiled the moves ahead of a four-day meeting it is convening in Washington starting on Monday…

Obama: ‘We can’t have an honest conversation’ about income inequality

WASHINGTON — US President Barack Obama on Sunday hit back at critics who say he is trying to redistribute wealth, and challenged his Republican opponents to deal with growing income inequality. In an interview with the CBS News program “60 Minutes,” Obama countered rivals who claimed he is moving toward…

Egypt ‘committed to free market’ after investor fears

CAIRO — Egypt’s deputy prime minister said on Sunday that his country was committed to a free market economy, after the ownership of three companies was returned to the state, sparking fears among investors. “The government will not backtrack on a free market economy,” said Hazem al-Beblawi, who is also…

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