Treasury officials are in talks over whether American firms should be allowed to repatriate funds at a discount, in what is sometimes called a tax holiday. It has been trumpeted as a needed boost to the economy and a welcome step toward reform. Firms such as Apple, Oracle, and Qualcomm […]
Author: Felipe Cabrera
GDP Expected to Slip
The Federal Open Market Committee announced on Wednesday it would complete purchases of $600 billion in treasury securities in June. Defending the strategy, also known as quantitative easing or QE2, Chairman Ben Bernanke said the Fed’s actions helped increase stock prices, reduce spreads in credit markets, and lower volatility. Earlier […]
Price Pressures Worrisome But Not Dire
Darryl Terrel manages Eastside Service Gas Station on the Lower East Side. Business has suffered lately. On Wednesday, the price of gas exceeded $4.30 per gallon in New York City. “It’s taking food from the babies,” Terrel said. Like most consumers in the American economy, manufacturers fear rising inflationary pressures—but […]
Manufacturers Leading Recovery Despite Inflation
Prices for raw materials have skyrocketed but manufacturers are still charging forward. The manufacturing sector has a number of things going for it. The auto and machinery industries are doing quite nicely. Firms are cash rich right now and beginning to hire again. Also, a tax break that comes into […]
U.S. GDP Revised Downward for Fourth Quarter
The United States’ economy grew slower than previously thought, said the Commerce Department on Friday. The advance estimate of the real gross domestic product – the overall measure of economic output of the United States – was 3.2 percent. The economy actually increased at a lower rate, 2.8 percent, said […]