Monthly Archives: January 2014

US Economy Shrugs Off Shutdown With 3.2% Growth in Fourth Quarter

[01/30/14]  Highest consumer spending levels in three years boosted growth, which had been hit by higher taxes and federal spending cuts. The US economy expanded at an annual rate of 3.2% in the last three months of 2013, the Commerce Department said on Thursday, as consumers and businesses largely ignored a government shutdown and fight over the debt ceiling. The pace of growth slowed from 4.1% in the previous quarter but still means that US gross domestic product (GDP) the broadest measure of goods and services produced across the economy, grew at an annual rate of 3.7% in the last half of 2013, a pace unseen since 2003. A...
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Bernanke Sees Headwinds Fading as U.S. Poised to Grow

[1/3/14]  Ben S. Bernanke said the headwinds that have held back the U.S. economy may be abating, leaving the country poised for faster growth as his tenure as Federal Reserve chairman comes to an end. “The combination of financial healing, greater balance in the housing market, less fiscal restraint, and, of course, continued monetary policy accommodation bodes well for U.S. economic growth in coming quarters,” Mr. Bernanke said Friday in a speech in Philadelphia. “Of course, if the experience of the past few years teaches us anything, it is that we should be cautious in our forecasts.” Mr. Bernanke used his remarks to reflect on his eight years...
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