President of the Federal Reserve Bank of Atlanta Dennis Lockhart says that he sees the economy rebounding after its rough start to 2014.
Lockhart says that the Federal Reserve System needs to have patience with the labor markets and increasing rates, although many Fed members are concerned about the market tightening.
Image via Twitter/AtlantaFed
Goldman Sachs Group Inc and JPMorgan Chase & Co have been accused of conspiring to manipulate the United States price of zinc.
A representative for Goldman Sachs says that the company is “vigorously” contesting the lawsuit, while JPMorgan declined to comment.
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Despite a slow start in 2014, the United States economy has seen steady growth over the past three months.
The economy is expected to continue to expand and may even grow at a larger rate through the second half of 2014.
Image via Twitter/CEDUpdate
According to a poll of economists, United States inflation will reach two percent by the end of 2014.
Economists have increased their forecasts from a month ago for inflation and job growth and hiring.
Interest rates are not expected to rise until later next year.
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According to a report released by HSH, San Francisco is the most expensive city in the United States for home buyers.
San Francisco homes have a median home price of $679,000 with median monthly payments of $3,199.69. The report calculates that a person would need to make at least $137,129.55 per year to live in San Francisco.
Second on the list was San Diego with a median home price of $483,000, and a salary of $98,534.22 per year needed to live there.
Image via Wikimedia Commons.
Chairman Ben Bernanke says that the Federal Reserve does not need to reduce its $4 trillion balance sheet.
Bernanke says that the Fed has worked to be able to “raise rates at the appropriate time.”
Trillions of dollars were spent under Bernanke in an effort to boost the United States economy.
Image via Twitter/FederalReserve
Hilary Clinton gave a speech to the New America Foundation recently, touting economic growth.
The potential 2016 Democratic candidate referenced her husband, Bill Clinton’s time in office to demonstrate job creation and growth.
Clinton also complimented Barack Obama’s “work and strong leadership” in turning the economy around.
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According to data released by Paychex and IHS, there is no clear evidence to prove that a raised minimum wage kills jobs. In fact, the opposite trend is occurring.
San Francisco, which has one of the highest minimum wages in the United States at $10.74 an hour, has faster job growth than any other major U.S. city. Washington is another example of this, with the highest state minimum wage, but the quickest job growth acceleration.
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According to the United States Labor Department, producer price index rose 0.6% . This is the largest increase in nearly two years.
The increase in PPI is an indicator of pressure on price, meaning inflation may occur if the trend continues.
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According to a survey done by the Federal Reserve Bank of New York, American household debt has increased for the third straight quarter.
The report on household debt and credit revealed that mortgages have dropped to the lowest level since last year.
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