For years now, the United States Postal Service has been the poster boy for government waste, but that organization may now be getting a run from another favorite target of government inefficiency: Amtrak.
The U.S. economy has strengthened, but not enough for the government to pare down its bond-buying program, according to the latest Fed minutes. In late 2010, investments rose and the job market improved -- but the housing market remained depressed.
Intel issued a third-quarter warning, saying its revenues will come in lighter than expected due to softening consumer demand for PCs. It now expects to bring in revenues of $10.8 billion to $11.2 billion, compared with its previous guidance of $11.2 billion to $12 billion.
The departure of Christina Romer as chair of President Obama's Council of Economic Advisers ought to prompt a rethink of U.S. economic policy -- but it won't, even though Friday's jobs numbers showed tepid progress on creating jobs for the millions put out of work by the recession.
The consumer savings rate jumped to 6.4% in June, the highest it has been in a year. But this isn't exactly good news. Sure, it's a natural response to the crisis, but it's spending that drives GDP growth. So where will the next GDP growth surge come from? Our writer's theory: Corporate fear.
Many corporations are flush with cash, and economists had hoped they would fuel the recovery by hiring and spending. Instead, companies are returning the money to investors through share buybacks. Good for investors -- but bad for the economy?