Now-Chair Janet Yellen fretted about wrong incentives created by Wall Street pay structure. Many underestimated the effect of the Lehman Bros. failure. These and other insights come from Fed meeting transcripts, released Friday, of that tumultuous year.
With midterm elections and control of the Senate up for grabs, President Obama opted to shelve his 'chained CPI' proposal that would have affected Social Security benefits. Many Democrats welcome the move.
According to minutes released Wednesday, a Fed meeting last month included disagreement over how the US central bank should proceed in setting monetary policy, at a time when the economy is improving but unemployment is still high.
A number of economists from the White House and beyond have criticized a CBO report on the effects of potentially boosting the minimum wage to $10.10 an hour. But CBO Director Douglas Elmendorf isn’t backing off.
While the White House disputed the CBO's prediction, the overall evidence in the new report did imply that the benefits of the minimum wage hike – higher income and reduced poverty – may outweigh the costs.
All that ice and snow drove traffic, flights, and deliveries in some areas to a standstill. But the overall effect of a tough winter on the recovering economy is expected to be more modest, economists predict.
Home foreclosures jumped 8 percent in January over December, a sign that America's housing market does not yet have a clean bill of health. But neither do they point to some big new danger. Here's what's going on.
Congress's newly approved farm bill cuts $8 billion from food stamps over a decade, barely 1 percent a year. Low-income households in 16 states will feel the effect the most. Why is that (and answers to other FAQs)?